LogFAQs > #965154611

Yellow posted...

That's a terrifying thought. It's all just code for privatization. You think it matters who hosts it? It's all private money controlled by a handful of rich people with no laws or oversight.

Pretty much. Does crypto have the potential to take some control of the country's finances away from the big banks? Yes. Is it going to prevent money (and therefore power) from concentrating in the hands of a small number of people that are wealthy enough to manipulate the system into making them even wealthier? No. Money naturally concentrates, regardless of the nature of the currency. Shaking up the currency just changes which ultra-wealthy hands it ends up in, and really, there are very few meaningful differences between the sort of people that treat our economy like an idle game.