By Embracing Regulation, Crypto Can Fulfill Its Potential
Someone has to stand behind promises. The genius of Bitcoin — that math can do the work of government — only works if there is a credible commitment not to change the rules, that is, not to cheat.
Among collectors, it is said that art is cheap; it is assurances that are expensive. What gets people to spend thousands on some dribbles on a canvas by a no-name is the promise — by a gallery owner or other “expert” — that the thousands will become millions.
The value of money is the same.
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