> People are unsurprisingly very in favor of KYC I think you may be generalizing here. > For it to be trusted you have to insure deposits. Those fly-by-night

> People are unsurprisingly very in favor of KYC I think you may be generalizing here. > For it to be trusted you have to insure deposits. Those fly-by-night exchanges You seem to mean "cryptocurrencies" when you say "it", yet you address only the case of exchanges. What about money that's not parked at an exchange? I'd agree with the "something worse" claim if you explained the trust aspect completely, and addressed the division of power, but as it is, I can only agree to some points.