Centralized
Regulatory
Arbitrage
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Can be frozen or confiscated
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Rules set by political discretion
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Filling a regulatory gap
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Replaceable by a well-designed CBDC
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Advantage is temporary
Decentralized
Financial
Sovereignty
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Cannot be frozen or confiscated
-
Rules enforced by code
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Redefining the system
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Cannot be replicated by any government
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Freedom technology