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To: Presbyterian Reporter; All
I've long heard libertarians predict that cryto currency will decentralize finance and disempower The State.

They were still saying it just before this crash: The Bitcoin Field Guide exudes pre-crash optimism.

30 posted on 11/23/2022 9:59:05 AM PST by Angelino97
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To: Angelino97
Instead of centralization around regulated banks, crypto is being centralized around unregulated mining operations and bitcoin owners.

Like every other investment/speculative asset, the vast majority are owned by a relative few.

Going forward if crypto ever took off among the general public, the general public will be royally screwed. This is because there will be a cost to using, exchanging, or acquiring bitcoin. If there is any bottleneck in the system, then the highest order "stakeholders", i.e. the guys with the most bitcoin will get to trade first and more cheaply. They will be able to use this to game the system as they can trade ahead of drops in bitcoin values and perform pump-and-dump operations at will.

33 posted on 11/23/2022 10:09:29 AM PST by who_would_fardels_bear (What is left around which to circle the wagons?)
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