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Thoughts on Cryptocurrency?
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this post was submitted on 19 Mar 2024
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Privacy
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I wouldn't say "better," just different. GNU Taler is centralized, so it's only as reliable as the issuer, whereas cryptocurrencies are as reliable as the distributed network. So Taler can't replace a fiat currency, it's just a toolkit to create your own fiat currency.
So it's great for privacy-minded folks in stable economies, but not great for international transactions or transactions where central authority isn't trusted. Essentially, cryptocurrencies are supposed to replace precious metals and whatnot for barter.
So I'm excited to see what privacy products people make with things like GNU Taler because it can be used today, but something like Monero is preferred if it can stabilize and start being accepted in more places.