My recent guilty pleasure is listening to Marxist-liberterian Y. Varoufakis talk about crypto.

CT hates marxism but Varoufakis experience as finance minister of Greece during EUR crisis made him strong anti-establismenent supporter.

(Ironically, crypto since Trump has become pro-establishment game)

The EU/IMF pushed Greece to accept outrageous loan terms despite greek people voting AGAINST the bailout in a referendum.

Anyway, as crypto was born libertarian it’s currently leaning heavily conservative while crypto is becoming institutionalized.

He agrees that BTC is a debasement trade but BTC original goal of usurping big finance failed. Big finance has usurped crypto.

Trump family max extracting from crypto is a clear example.

Anyway... Yanis also agrees that stablecoins have better PMF than banking.

Legacy banks are slow and expensive by design to protect their monopoly rent.

But the moment they scale, control shifts to a new cabal of issuers like Tether with whatever backing they choose to have.

"Stablecoins are to the original crypto mission what Napoleon was to the French Revolution: despotism hiding behind beautiful cries for liberty."

We escaped the old system and ended up in another one.

No decentralization, no user ownership but a new layer of middlemen

P.s. if not clear, this post is a $ZEC shill.

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