I liked his comment about trust, it's something that always bothered me with the very radical trust model of Bitcoin and other cryptocurrencies. It is not entir

I liked his comment about trust, it's something that always bothered me with the very radical trust model of Bitcoin and other cryptocurrencies. It is not entirely clear why you have to go all the way and do away with _all_ trust, except for niche applications such as transactions for people in repressive regimes (which are necessary but do not require us to replace conventional currencies with cryptocoins). In normally stable countries and economies, trust works great and makes everything so much more efficient. If you don't like single central banks or intransparent financial institutions - cool, good thing there are Byzantine consensus algorithms that don't require proof-of-work but simply some known identities (in blockchain lingo this would probably be permissioned blockchains). You can get much of the benefits and build an ecosystem around known, trustworthy actors and don't have to use awkward mechanisms like proof-of-work.