> This is a financial system, not a battle of rhetoric.
No, this is a blog post about a well-understood failure mode in traditional finance. If cryptocurrency advocates want to lay claim to the "financial system" label, they should be prepared to explain how their schemes are efficient mechanisms for value transaction, not sandboxes for making sure the rules of financial crime haven't changed.
No, this is a blog post about a well-understood failure mode in traditional finance. If cryptocurrency advocates want to lay claim to the "financial system" label, they should be prepared to explain how their schemes are efficient mechanisms for value transaction, not sandboxes for making sure the rules of financial crime haven't changed.