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What the world needs is decentralization across the board. Finance, internet, media, and government.
by rexreed 3y ago
What the world needs is decentralization across the board. Finance, internet, media, and government.
- trilbyglens 3y agoYa crypto has shown how well that works.
- rexreed 3y agoNot crypto. At least not specifically. I'd be happy with a whole lot of regional banks that aren't going to just get acquired in a year. Consolidation isn't a friend.
- sneak 3y agoIt has done precisely that. You can now have near unlimited exclusive control over money that can be beamed to anyone on the internet cheaply in a very short period of time. Practically speaking, with some basic precautions, it is totally uncensorable and nobody can stop you. That was not possible before. Those are facts, regardless of anyone's personal emotions about whether or not cryptocurrencies are good or bad. It has so much crime associated with it specifically because it is functional and decentralized. You can't receive ransomware payments at a retail bank.
- nottorp 3y agoPersonally I don't have a problem with crypto because it's being used to move drug money or ransoms around. It's the exchanges that look to me similar to the people needing to move drug money or ransoms...
- Finnucane 3y agoIt used to be more that way. It was the deregulation of the 1980s and 90s that allowed the massive concentration of the banking industry.
- usefulcat 3y agoPerhaps unintuitively, smaller banks tend to be more susceptible to problems like the recent bank runs. Matt Levine has written about this in his column for Bloomberg, Money Stuff.