Back when the Bitcoin protocol was invented, the idea was to build a simple global payment system that wasn’t (and couldn’t be) controlled by any central broker. In other words, you wouldn’t need to apply to a private company for a credit card, or to get permission from a regulator to send cash abroad, or to risk having incoming payments confiscated by a corrupt bank or central government, or to negotiate a series of complex exchange rates determined by other people, or to wait for the companies at each end of the transaction to decide that it was time to let it go through.

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