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The development of centralized exchanges into a class of companies equal to the existing financial infrastructure is unlikely to happen. Unlike traditional fina
by tschwimmer 4y ago
The development of centralized exchanges into a class of companies equal to the existing financial infrastructure is unlikely to happen. Unlike traditional finance, the use cases for crypto seem to be mainly speculative. You can't pay your rent, buy a car or pay taxes using crypto, so it's unlikely that you'll be very affected by the rise or fall of these exchanges unless you choose to participate yourself.
- whimsicalism 4y agoThere are massive black market uses and massive uses for people evading capital controls in the rest of the world. Crypto can basically function as an extended version of dollarization in countries that have institutionally failed to manage their own currency (think the naira or the Turkish lira).