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4min chapter
Omid Malekan (Columbia) on Trust & Finance
Galaxy Brains
Cryptocurrency
In 2009, Satoshi wrote in the Genesis block that was 2009, January 3rd, 2009,. Bet on brink of bailout of all regional banks. I mean, this basically just happens. Very similar situation. It's ironic to me that whereas crypto has this reputation for being risky and dangerous, when you look at the inefficiencies of the existing banking system, it's far worse. That is part of the different trust assumptions that are at play, right? There's a lot of wizardry and magic in central banking and the banking system that you have to actually believe in.
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