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That's funny how so many criticized the existence of the federal reserve, but bitcoin being an answer to this criticism, made everybody realize that money is tr
by jokoon 6y ago
That's funny how so many criticized the existence of the federal reserve, but bitcoin being an answer to this criticism, made everybody realize that money is trust, and that institutions are required to guarantee this trust, cryptography cannot solve everything.
Money is just a medium, it's an accounting tool. Civilization doesn't work without regulation or when things are too volatile. Society requires stability.
The answer to the banking crisis is not more liberalism and anarchic technologies (that allows hackers to launder money), it's regulating the banks.