LRB · John Lanchester · When Bitcoin Grows Up: What is Money?

“The very first sentence of Satoshi’s original paper reads as follows: ‘A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.’ It looks as if, on the contrary, those very same financial institutions are going to use this new technology to keep themselves right where they are: in the middle of every possible transaction network, extracting all the rent they can.” – LRB · John Lanchester · When Bitcoin Grows Up: What is Money?

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