I like how Matt Levine at Bloomberg put it - crypto is just “speedrunning the history of [traditional] finance”.
I think a lot of people seem to believe that the current setup of banks, currency, and regulation (writ large) is arbitrary and unique, but a lot of the basic building blocks are actually quite natural consequences of evergreen problems handling money.
its a common pattern in todays society. a perceived problem with the system that is actually a problem with the people running that system leading to the design of a new system that somehow wont allow people to run it and cause the same problems. but then you need to reinvent solutions to every other problem the system solves and learned to solve over its operation
there is almost certainly an easier way to fix the problems people are having by making adjustments to the current banking systems, including support for the growth of different banks that simply act more ethically.
