Crypto is not a subversion of central banks and governments. It's just an amusing gimmick that exists at their pleasure, like the state lottery. > end users al

Crypto is not a subversion of central banks and governments. It's just an amusing gimmick that exists at their pleasure, like the state lottery. > end users always want a way to get money out of crypto and back into fiat currency. And this desire hands governments all the tools they need to starve the crypto ecosystem at will, by cutting off access to inflows and outflows if participants don’t follow the rules. When a reasonably competent and powerful government cares enough about stopping something from happening, it is very difficult, if not impossible, to continue doing business as usual. And this reality continues to take the hand-wavily libertarian crowd of crypto enthusiasts by surprise. > The persistent requirement for fiat on- and off-ramps is why virtually every anti-censorship technique that crypto comes up with instantly suffers from the same Achilles heel.