Someone just pointed out that this makes zero sense. Absence of 3rd party processors not a fundamental breakthrough.pic.twitter.com/MiAy0XOoBU
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MtGox fiasco is not a failure of the protocol, it’s the protocol having an allergic reaction to de facto centralization.
If de facto centralization is unavoidable, maybe the protocol *is* flawed, but not sure that’s the case.
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@sarahjeong I'd argue that in a world where centralized currencies dominate, de facto centralization is unavoidable -
@sarahjeong because nobody is going to want to individually barter for/with units of their local currency to buy and sell bitcoin
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