
MIT Technology Review: Let's Destroy Bitcoin - ForHackernews
https://www.technologyreview.com/s/610809/lets-destroy-bitcoin/
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ericpauley
The whole point of Bitcoin is its decentralization. What is being described
here is functionally equivalent to the current banking system, just
"Blockchainey". Public ledgers also don't meet the secrecy requirements of
many financial transactions, whereas the current banking system does. My guess
is that during implementation of such a system, it would look less and less
like this public ledger and more and more like a slightly spiffier ACH
implementation.

