the principal hypothesis of the bitcoin experiment is that a central ledger and issuer is not actually necessary, and it’s still going strong

central banks are a hell of a lot better than the hodgepodge that arose in the 1800s, but it’s not proven that they will outlast an adequately designed decentralized implementation (whether it’s bitcoin or something else)

there are plenty of problems down the road for bitcoin, but there are arguably more for central banks. can a centralized currency survive the failure of its backing empire?

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