Post
Topic
Board Altcoin Discussion
Re: G20 financial heads to urge crypto-asset monitoring to safeguard financial stabi
by
Zendalet
on 23/03/2018, 14:03:17 UTC
The whole point behind cryptocurrencies was to make them trustless.

"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with hardly a fraction in reserve."

- Satoshi Nakamoto

G20 financial heads are now trying to put the cat back in the bag by forcing cryptocurrencies to become trust-based.

If those G20 financial heads really cared about consumers, why are they forcing those consumers to send their identification documents to untrusted parties while at the same time warning they are likely to be cyber criminals?