Thread by @rohangrey

"If the facts and the law aren't on your side, bang on the table"

But for real, this framing is so tiresome. The real battle isnt Crypto vs Big Finance, its whether we want the future of digital payments to be defined by Big Finance 2.0 or the public via democratic alternatives.

https://twitter.com/CoinDesk/status/1436389891722579970

I've been plenty skeptical of the crypto community, but I was skeptical of traditional finance first. Hence advocating for public banking, fedaccounts for all, publicly-issued, privacy-respecting eCash, etc. Accusing everyone who is crypto-skeptical of promoting the status quo

is just a lazy way of trying to make this a battle between the future and the past, when in reality we're living through a frontier moment where the question is whether we want Deadwood-style grifting to be the norm, or to build real public infrastructure that works for all.

The most effective form of hegemony is to convince everyone that there is no alternative. Well, crypto is just as guilty of doing that as the private banks they claim to be "disrupting" - the first casualty in every one of these conversations is the possibility of a public option

Once that has been taken off the table, *then* crypto is able to position itself as the only viable challenger to old Wall St. But it's a myth and a convenient narrative told by bag-pumpers with huge dollar signs in their eyes. We have a long history of providing public cash,

we provided postal bank accounts once upon a time until private actors killed it (and can do so again), etc.

The choice here is b/w a future defined by yet another group of private, for-profit actors pretending to operate in the public good, or a digital public money system.