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by FloorEgg 253 days ago
That's a good point, but the nuance matters and understanding why matters too.

Without being too specific about the who, I think your concern boils down to:

1) authoritarian leaders like crypto that they create themselves because it's not regulated and they can use it to raise funds from the gullable and uninformed.

2) authoritarian leaders who can move markets tolerate crypto that is decentralized because it's also unregulated and they can trade against their own words and actions. (E.g. short and then cause a crash, buy and then cause a spike, etc.) Very few authoritarian leaders have this kind of influence, and as adoption increases the influence one person can have over the market will diminish.

I think these authoritarian benefits are temporary artefacts of where it is in its lifecycle. The technology resists authoritarianism the more decentralized and ubiquitous it is.