![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
March 19, 2014, 11:40:36 AM |
|
One of the key things that makes crypto appeal to me is that it offers a chance to replace the corrupt rent seeking behaviour of those currently in charge of the keys to finance.
In what ways can crypto avoid the same greed that plagues Wall St? Sure, the decentralised nature removes a lot of opportunities for rent seeking, but concentrated points of power will still exist in some forms leaving plenty of opportunity to abuse these positions for personal profit. Crypto offers a great replacement for simple banking services and transactions, but I don't see much in the way of innovation and change in terms of investing. I guess the increase in competition will help with this, but what if we end up back at the same point we are now with an oligopoly of massive corporations in charge. Most industries seem to tend towards this in the long term.
|