> Why not separate concerns? Crypto currencies work without Proof of Work today.
You mean through proof of stake instead? Yay, now all the people who wanted to avoid having a competent central bank in a free democracy control the money supply get to have the people with the most money control the supply instead.
Jesus fucking christ, you cryptocurrency lunatics have lost it.
(2) Even if they weren't, the popular cryptocurrencies today have fixed money supplies. A central bank cannot increase it to target moderate inflation.
Central banks use PID controllers to control stability [1]. Stable coin systems can use PID controller systems too [2]. Stable coins are as volatile as their fiat counterparts.
Crypto currencies are run by people as much as central banks are. People can have opinions and values. People forked of Ethereum into Ethereum Classic because they had an issue with the main chain's policy. ETC community is alive.
Building crypto currencies is all about optimizing for legitimacy [3]. We can build what we want, we just need to want it in the first place. No need to discount a whole field of computer science with a comment.
Sure. We can probably build a sane cryptocurrency. I'm talking about the ones that people are sinking tens of bn into and hyping the hell out of today.
