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Cruz says a few things that I find debatable; but he made some incisive points.
Near the end of his speech, Cruz warned Bitcoiners to remember Napster. Although his analogy is imprecise due to Bitcoin’s greater decentralization, it is nonetheless a good and insightful analogy. Cruz is alarmed, as I am, about Bitcoiners’ naïveté and complacency.
Please stop nitpicking and overextending analogies, as an excuse for continued naïveté and complacency.You can't put Napster and Bitcoin in the same boat! One was facilitation the distribution of illegal warez and mp3z...
That's like saying to ebay, ohh watch out!.. you remember Silk Road right?... Baffled to think there is some kind of analogical correlation between the two!
Bitcoin is to facilitate terrorist financing, drug dealing (you remember Silk Road, right?), killing cute puppies and kittens, evasion of virtuous sanctions by evil Russians, tax evasion, unregulated financial activity, making the FATF have a collective heart attack, evading KYC (gasp! horrors!), disrupting banks’ business models and making banks irrelevant (not allowed!), evading the U.S. Federal Reserve’s divinely ordained absolute right to steal the value of people’s savings with inflation (definitely not allowed!), and literally destroying
the Earth the universe with its insanely high energy usage.
I’d say that’s a fair sight worse than sharing some copyrighted mp3s.
A country of 1.4B+ bans bitcoin every a few years! What's another country of 300million going do...
If you think that the scenarios are in any way comparable, or that it’s only a matter of headcount, I am not sure how even to begin to explain this.