Ben Gilbert: observation

Transcript context

…It would break their system. Yes. There is no better example than the US dollars. If the Fed was like, Bitcoin’s a really good idea, and they felt like that's the future, the Fed's centralized infrastructure and the US banking system—the notion of the Central Federal Reserve—is completely antithetical to everything that Bitcoin stands for. Our monetary supply and our entire banking system exist in a very intentionally coupled manner with our government. It's not like it would ever be in the US government's interest to be you're right, a decentralized thing would be the way to go because it removes so much of the power of the US government, frankly the US as a nation. Just like network economies, I think there's another level that counter positioning applies too, which isn't just the US dollar, it's at the financial system itself. We started the episode with the way banks work and the way credit card companies work. The way traditional financial institutions work is based on this bank account number, credit card number system. They can't go back, change that, and make it into a public-private key thing.…

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