100%. This is the biggest misunderstanding in crypto, period.https://twitter.com/devilscompiler/status/1094968550152822784 …
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Legal arbitrage: Offering a product or service that is demanded by the market, but outlawed by the state. Private money is a prime example. DNMs are another. Most organized crime falls into that category as well, for example drug- or human trafficking, gambling, lending etc
There is no "the state", there are 1000s of jurisdictions. It just has to be outlawed or (much more common) inadvertently regulated to death, or "privately" censored to death by BigCo, in a few of these jurisdictions for legal or political arbitrage to be a very valuable feature.
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America sure acts like 'The State'
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Release yourself to the savage joy of being a Szabo tweet relay. The time-savings alone is worth it.
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And within those "states" there are hundreds of institutions operating under many different pieces of legislation. The "state" is a lot less monolithic than people think it to be.
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