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Bitcoin's Anarchy Is a Feature, Not a Bug
- SlipperySlope 9y ago[Great argument that can be used to portray the dangers of rouge AI.] Without humans in the governance loop, the specific needs of financial law enforcement are ignored, and more generally the needs of law abiding society are ignored as the algorithms do not follow the the laws of jurisdictions where customers live. Examples: 1. Many jurisdictions have applicable taxes on bitcoin assets and transactions. 2. Many jurisdictions have applicable KYC and AML regulations on payments and security transactions. 3. Money services businesses have an entity that can be legally sued for damages caused by MSB misbehavior. Bitcoin's Anarchy will lead to progressively more suppression from social media and governments.