> When you make a bank transfer or a PayPal transaction, it’s 100% opaque. The terms are not truly binding and it can be reverted or altered for any or no reaso

> When you make a bank transfer or a PayPal transaction, it’s 100% opaque. The terms are not truly binding and it can be reverted or altered for any or no reason. Yeah, they can tell that to my lawyer. Banks don't make the rules — regulators do, and I can file suit to have a judge enforce those rules. If my money disappears, I can hold my bank to account. But a judge can't rewrite the blockchain, so cryptocurrency has become a safe haven for fraud. You've got it exactly backwards: It's blockchain-based banking that puts customers at risk of predation. > I find it pretty surprising how many people can’t or won’t understand the value of a neutral execution environment for financial transactions If it had value for banks, banks would be using it. If it has value for customers, then tell me: As a customer, which desirable guarantees does blockchain provide me that banking regulations don't?