A well reasoned article, coming out of MIT.
It recognises several things:
- bitcoin as we know it is dead
- bitcoin has failed as a currency
- the blockchain is what matters
- alarm bells should be clanging at the involvement of the criminal banks
We should not forget, bitcoin was developed to provide a monetary system outside of the control of the criminal banks.
The criminal banks should have been smashed, broken up, casino banking divorced from retail banking, criminal bankers thrown in prison.
Due to lack of action, lax regulation, banks are now in worst state than 2008. When the next crash comes, there is no money to bail out the banks and even if there was there woukd be riots in the streets.