What truly scares China and other governments
The crypto news is mostly dominated by investment info, with minute by minute reports of “epic gains” and spectacular failures and rug pulls. While the SEC continues to wonder if spot bitcoin ETFs are “safe for investors” and protect them from the best asset of the last decade, the real story doesn’t get much attention.
The power of systems
While blockchain networks create an alternative to traditional centralized finance and networks, the systemic effect will be far, far larger. It may revolutionize humanity.
Historically, where you were born and the system you were born to determined your fate. That’s still mostly true today. Get born rich or poor or in the wrong country and most of your life is written for you. Get born in North Korea and your life options are… substantially constricted (statistically anyway) than being born to even moderately well-off parents in the USA or western Europe.
And if you want to change the economic/social system you were born into? Well, first you need a lot of resources (that you may not have) and moreover the switching costs are absurd — you have to move to another area, learn a new language and culture, try and find a job, paperwork. That’s…
