Blockchain and Trust
Cryptocurrencies doesn&#x27;t remove all trust. It&#x27;s about removing trust in third parties to send and receive transactions. That&#x27;s it. And that&#x27;s a big deal.<p>&gt; <i>Honestly, cryptocurrencies are useless.</i><p>Honestly, he makes some good points but this is ignorant.<p>For example:<p>* Uncensorable donations to wikileaks<p>* Avoid having PayPal or other payment processors freeze your merchant account for X months, on a whim<p>* Avoid the risk of charge back fraud for online payments<p>* Ability for weed shops and porn sites to accept digital payments<p>* Fleeing Venezuela with your wealth intact<p>* Send money to and from countries where no banks or western union operate.<p>* Financial privacy for everyone not just the ultra rich (lookup Monero before commenting)<p>Cryptocurrencies have some very good features.<p>There are issues of course, but how can you claim all these are useless?<p>&gt; <i>For bitcoin, that&#x27;s the cost of the additional bitcoin mined</i><p>No, that&#x27;s the cost of securing the network to prevent double spends.