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MIT Technology Review: Let's Destroy Bitcoin (technologyreview.com)
8 points by ForHackernews 8 months ago | hide | past | web | favorite | 1 comment

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.

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