This is a very good article by Caitlin Long, which is to be expected. She is very good at foreseeing the role of banking in a bitcoin economy. I like the analogy of criticisms of bitcoin to the early criticism of VOIP because they couldn't scale. Comparing the development of broadband to the lightning network is apt.

Where I disagree with the article is the inclusion of eth as future money of the internet. It's not simply because I'm a bitcoin maxi who hates shitcoins (though that's true!) The author lumps bitcoin and eth together without pointing out the fundamental differences. For starters, bitcoin is proof of work, and eth is not. Proof of stake ensures that the legacy banking system will continue, with those with the most, closest to the spigot, like Vitalik, controlling things. Centralized power is perhaps the biggest problem with the current banking system, and bitcoin is the only path to fair, decentralized money.

Caitlin Long is a Harvard-trained lawyer who is very much in favor of compliance, regulation, and collaboration with the State.

She is NOT about bitcoin's ability to deliver simple human freedom to the world.

She is about bitcoin's ability to deliver material wealth to her, on a personal level, through the manipulation of politicians and regulators to her agenda.

Don't be fooled.

For additional comments on this article, see also another post found here on SN:

Banks Are About To Face The Same Tsunami That Hit Telecom Twenty Years Ago #73457 https://www.forbes.com/sites/caitlinlong/2022/09/23/banks-are-about-to-face-the-same-tsunami-that-hit-telecom-twenty-years-ago [Archive]