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Every time someone comes in and tries to solve these problems cryptocurrencies have they end up recreating standard banks and payment processors, only without a

Every time someone comes in and tries to solve these problems cryptocurrencies have they end up recreating standard banks and payment processors, only without all the federally mandated consumer protections built into actual banks and financial institutions. People are just hell-bent on re-learning 200 years of banking history firsthand.

CrazyPyroLinux 4y ago
> People are just hell-bent on re-learning 200 years of banking history firsthand. Maybe just the last 109 years https://en.wikipedia.org/wiki/Federal_Reserve_Act https://en.wikipedia.org/wiki/Federal_Reserve_Act Or just the last 79 years https://en.wikipedia.org/wiki/Gold_Reserve_Act https://en.wikipedia.org/wiki/Gold_Reserve_Act Or just the last 51 years https://en.wikipedia.org/wiki/Nixon_shock https://en.wikipedia.org/wiki/Nixon_shock Or just the last 15 years https://en.wikipedia.org/wiki/Quantitative_easing#United_States https://en.wikipedia.org/wiki/Quantitative_easing#United_Sta... Or just the last 2 years https://fred.stlouisfed.org/series/M2SL https://fred.stlouisfed.org/series/M2SL Or just the last 1 year https://www.washingtontimes.com/news/2021/oct/19/democrats-scale-back-600-irs-disclosure-after-back/ https://www.washingtontimes.com/news/2021/oct/19/democrats-s... Or just the last 6 months https://www.businessinsider.com/trudeau-canada-freeze-bank-accounts-freedom-convoy-truckers-2022-2 https://www.businessinsider.com/trudeau-canada-freeze-bank-a... https://www.whitehouse.gov/briefing-room/presidential-actions/2022/03/09/executive-order-on-ensuring-responsible-development-of-digital-assets/ https://www.whitehouse.gov/briefing-room/presidential-action... Or just the last week https://www.forbes.com/sites/robertwood/2022/08/11/irs-to-add-87000-new-agents-more-crypto-tax-enforcement/ https://www.forbes.com/sites/robertwood/2022/08/11/irs-to-ad... Maybe BTC isn't the answer, but there are some real downsides to "standard banks and payment processors."

CrazyPyroLinux 4y ago

> People are just hell-bent on re-learning 200 years of banking history firsthand. Maybe just the last 109 years https://en.wikipedia.org/wiki/Federal_Reserve_Act https://en.wikipedia.org/wiki/Federal_Reserve_Act Or just the last 79 years https://en.wikipedia.org/wiki/Gold_Reserve_Act https://en.wikipedia.org/wiki/Gold_Reserve_Act Or just the last 51 years https://en.wikipedia.org/wiki/Nixon_shock https://en.wikipedia.org/wiki/Nixon_shock Or just the last 15 years https://en.wikipedia.org/wiki/Quantitative_easing#United_States https://en.wikipedia.org/wiki/Quantitative_easing#United_Sta... Or just the last 2 years https://fred.stlouisfed.org/series/M2SL https://fred.stlouisfed.org/series/M2SL Or just the last 1 year https://www.washingtontimes.com/news/2021/oct/19/democrats-scale-back-600-irs-disclosure-after-back/ https://www.washingtontimes.com/news/2021/oct/19/democrats-s... Or just the last 6 months https://www.businessinsider.com/trudeau-canada-freeze-bank-accounts-freedom-convoy-truckers-2022-2 https://www.businessinsider.com/trudeau-canada-freeze-bank-a... https://www.whitehouse.gov/briefing-room/presidential-actions/2022/03/09/executive-order-on-ensuring-responsible-development-of-digital-assets/ https://www.whitehouse.gov/briefing-room/presidential-action... Or just the last week https://www.forbes.com/sites/robertwood/2022/08/11/irs-to-add-87000-new-agents-more-crypto-tax-enforcement/ https://www.forbes.com/sites/robertwood/2022/08/11/irs-to-ad... Maybe BTC isn't the answer, but there are some real downsides to "standard banks and payment processors."