[flmontpetit]

Baffles me how this industry is basically speedrunning through the troubled history of regular finance, and every piece of legislation and every institution has to be rebuilt from scratch even though the mechanisms and the problems are almost exactly the same.

[tetha]

I always found the idea of a free, unregulated financial market being a positive thing amusing. Many of these regulations were made because more or less complex loopholes got exploited and many less wealthy people lost their money. And quite a few of these people with practical experience in these various exploits are still around.

[cakealert]

You can always opt into security by being the customer of a bank.

[roenxi]

I've always liked this analogy because it accidentally implies something I believe to be true - the crypto industry will eventually overtake transitional finance while moving at great speed. It says a lot about how bad the traditional finance industry is that this is the easiest path forward that the market found.

[2muchcoffeeman]

You assume it won’t just hit the same problems and stall or that traditional finance won’t learn and comes up with its own solutions.

[Kbelicius]

> I've always liked this analogy because it accidentally implies something I believe to be true - the crypto industry will eventually overtake transitional finance while moving at great speed.

It isn't implying that. It is implying that it will end up at the same place as the traditional finance.

> It says a lot about how bad the traditional finance

What is so bad about traditional finance that crypto fixes?

[labster]

Bad money drives out good money, which explains why crypto is moving so fast.

[dgrr19]

problems are the same but decentralized. You can't give a mortgage to an anonymous user, can you?