[Cryptography] Krugman blockchain currency skepticism

[Benjamin Kreuter]

On Wed, 2018-08-01 at 07:05 -0400, Patrick Chkoreff wrote:
> grarpamp wrote on 07/31/2018 05:33 PM:
> 
> > Freedom isn't derp.
> 
> And to those for whom freedom IS derp, consider the case of an
> "activist
> group" whose payment processor is suddenly shut down.  A "peer-to-
> peer
> electronic cash system" as Satoshi calls it might be just the thing.

Except that we know how to solve that problem without all the expense
of blockchains.  You use Chaum-style e-cash that supports at least one
offline transaction "hop."  The activist group could then receive and
spend money without having to interact with the bank.  You also have
the advantage of having a payment system with a well-defined security
notion.

-- Ben
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