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Aug 9, 2021

Writing the protocol, writing the interfaces, operating nodes, mining, participating in on-chain governance, running an ISP are all separate pieces, which can (and are) done independently. VCs are not buying majority control of any one pillar, much less all.

ng-cpo.eth

@GehaniNeil

Aug 9, 2021

The protocol is only good for building and running apps that serve customers. That's what we said about the internet in the past and yet we have monopolization now. The same thing can happen here. I am generally supportive of crypto but it does need regulation.

Replying to

and

If there are monopolies, it’s usually because of regulation. We have plenty of regulation on financial services already, responsible for billions of people unbanked and excluded from the global economy, forced to hide cash under their mattresses, deal with check cashing sharks.

1:59 AM · Aug 9, 2021Twitter for iPhone

Replying to

and

It’s because corporations and people with money watered down the regs. The financial regs were highly influenced by the people being regulated. I’m not happy about that. #antitrust was lax and we have FAANG. Hopefully, reasonable regs will prevail 🤞hope! 😊