Bitcoin is Venice: Difference between revisions

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 {{a|book review|{{image|bitcoin is venice|jpg|}}}}==Cryptopia==
-This is a massive, magnificent, learned, contrarian work and, like most massive, magnificent, learned contrarian works (for example, {{author|David Graeber}}’s {{br|Debt: The First 5,000 Years}}) few practitioners in modern financial services would not benefit from reading it, just for the challenge it presents.
+This is a massive, magnificent, learned, contrarian work. Few practitioners in modern financial services would not benefit from reading it, just for the challenge it presents.
-For anyone who wants to hold forth on cryptocurrency, for or against — and in financial services, that seems to be everyone — this is an essential text.
+For anyone who wants to hold forth on cryptocurrency, for or against — and in financial services, that seems to be most people — this is an as good a foundational text as you could ask for. It does not pretend to be neutral: this is advocacy: the case for Bitcoin, put optimistically, and without barely a sideways glance to its many criticisms. There is no discussion of bitcoin’s relationship with terrorist financing and money laundering nor the widespread and pervasive fraud in the cryptocurrency sector. The authors might well say those issues are well canvassed elsewhere, and this is true,  but to not mount any defence while claiming, explicitly, that bitcoin fixes everything, seems an oversight. Everything? Well, according to the authors, bitcoin does the following:
+* resists and disincentivises violence
+* remediates our criminally oppressive, unsustainable and unjust social order
+* cures the slow-motion collapse of “degenerate fiat capitalism”
+* prevents the degeneration of markets into oligopolies
+* optimises the transmission and clearing costs of energy generation
+* fixes the architecture of the internet
+* obliges us to think long-term, and not short-term
+* obviates regulatory incompetence
 ==== Financial services as a paradigm, and critiques from without ====