RE: New Boss, Same as the Old Boss.
Oh I agree with you.
You kicked of a string of thoughts when you mentioned the decentralization concept when relating to not making rules (which centralize things).
Thinking the way I do, I flipped that to apply it to the post and how you can’t rule out the entry of the elite blood money entering. Need it? Perhaps not but the lawlessness of it all means the big guns can come grab their stake too. Which will mean good things for value and those who can afford to hodl during downturns.
Fiat is the only thing that works at the grocery store where I am unfortunately so I have to play that game. Also, there is no blockchain without people, no people without government (these days) and no government without corporations feeding them cash in exchange for control.
So it is all one system and I don’t think we can make them mutually exclusive.
Awesome topic and discussion!
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It's not designed to keep anyone out. It's designed to be a robust ecosystem that anyone can enter with the intent of evening the playing field for all parties concerned. No more monopolies. No more buying the law and bending it to your favor. Math is the new law, and it can't be bargained with or bought out.
Today crypto has no infrastructure, but that's fine. We are building on top of the old infrastructure until we have our own. It doesn't matter that people have to temporarily transfer some crypto into $200 worth of fiat to go to the grocery store. At the end of the day the money has been spent and you won't be holding the bag.
Once crypto has it's own infrastructure it will squeeze out fiat just like the Internet squeezed out the printing press and the phone companies, but all that fiat money is going to buy a lot of crypto before it sinks. Every coin in existence today will be corrupted to an extent. That's fine! We'll just make new coins to decentralize the old coins even further.
The cycle will continue for decades. Crytpo can't survive like a corporation can. A corporation can bend the law and become immortal. Cryptocurrency evolves because they all have a life span. In 30 years young kids aren't going to be impressed that we own Bitcoin. They'll be like, "Okay grandpa, good for you. Watch me headhunt this guy in VR for 1000 HeadHunter coins. Oh, look at that I just paid my rent."