Oddbean new post about login | logout It took years for me to understand this.
💯 With Bitcoin payments are final and involve no middlemen who could censor/limit them. Fiat payments online are reversible and always involve at least one 3rd party who can and are often required to censor/limit them.
The liability that the 3rd party faces demands that they know who you are and what you’re doing, if for no other reason than their own self-preservation. It’s been a slow creep of kyc and restrictions on what we can and can’t do online.
Exactly. We also need to give corporations our credit card keys to pay subscriptions. The corporations raise their fees whenever they feel like it and their information gets hacked all the time. You can't download movies. You must pay them rent like a serf.