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Coinbase has plenty of competition. You could start E-Shekel Shack tomorrow just the same as coinbase was created.

You're going to find that people who are enthusiastic about crypto will make the same kinds of argumentative moves as people who love whatever the monopolist is supplying. When someone dogs on Twitter or Facebook, a fan boy will chime in, "It's a free market bro; anybody could start a social media site, like, tomorrow if they wanted to."

If anyone ever thought that after centuries and centuries of Jews building up a global banking network as entrenched as we currently have, that we were suddenly going back to the wild west in a deregulated financial market, then they probably aren't students of history.

Of course the banking system is infecting the crypto system. Dereg is just the hype generator. This is really about control over your ability to transact freely of big brother, to associate financially with whoever you'd like (you won't be able to support anybody without authorities being able to discover it, in principle), and to selectively ban you from whole domains of commerce if your 'social credit' is damaged.

They're creating a casino. Get everyone in first; roll out regulation while everyone is drunk at the blackjack table. Oh you've got pink chips? You've got blue chips? You have green? You can exchange these for X, Y, and Z of the official globohomo token. Don't ask about the vault and who controls the supply. Let a few bozos get rich and drive around town in million dollar cars. That'll bring everybody in.