When I first was interested in cryptocurrency, or Bitcoin, this is the sort of thing which made me excited. The idea of a new currency outside of the control of states or banks, which will take back the power for ordinary people. It soon stopped being about that and about "hodl" and self-enrichment. I applaud this project for being in the original spirit of Bitcoin. I've since come to realise that the important thing…
It's because everyone forgot about Chesterton's Fence. Stuff like the emergence of exchanges and the story of Magic The Gathering Online Exchange in particular are the result of people realizing those fences were necessary.
There are very good reasons that the currencies we trust are managed and regulated by reputable banks and countries.