1 min readMar 26, 2020
I like this thought process.
The difference is that Bitcoin cannot self regulate or be regulated externally as boring fiat can. So take two scenarios:
- Bitcoin replaces fiat and now nobody can regulate bad behaviour except with opt-in financial penalties which criminals won’t do.
- Bitcoin exists alongside fiat and regulators try to regulate it but it just is much harder than before, creating additional overhead for the system.