Wednesday, January 31, 2018

One change in the sentence will change Matt Levine's opinion

In Money Stuff, he says:
Being a "crypto skeptic," to me, means thinking that the core claims of cryptocurrencies -- that they can provide a viable non-governmental store of value and medium of exchange, that they can allow for the creation of new decentralized protocols for the infrastructure of the internet, that their underlying blockchain technology can revolutionize finance -- are wrong or inflated. 
All we need to do is change blockchain to finite blockchain.  Next we understand it as a contract consistency check, then all the rest of Matt's beliefs are maintained in the proper order in the sandbox.  We still detect securities fraud, as contract fraud.  We still keep consumer protection rules in the requirement for observables and fair access to the tradebooks. In fact, Matt, much of the work we do is based on your columns, making sure your understanding is met in the box. You are what we are duplicating, the ex Goldman-Sachs executive.

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