<p></p>
<p>Sorry for hijacking the thread.</p>
<blockquote>
<p>Just like Bitcoin has successfully done with "money" and banking.</p>
</blockquote>
<p>A trust-less fiat trading system is Utopian garbage. Conflating blockchain and legacy banking systems is wrong and dangerous. Attempts to game your way out of fiat pitfalls with refund agents, donation addresses and burningmen is a CHEAP excuse for a distributed network. </p>
<blockquote>
<p>Satoshi showed the world it was possible to replace the Trusted Third Party model.</p>
</blockquote>
<p>The centralized role of the refund agent is anti Nakamoto. Distributing the risk through a network of bonded arbiters is more in line with his ethos.</p>
<p>I concede that building a network of trust is more expensive/valuable than providing a CHEAP centralized (replaceable?) refund agent. But only capital pigs and corporate lawyers care about profit. Right?</p>
<p>I am not convinced that a 2 of 2 system that forces all traders to donate their funds is superior to a bonded arbiter with a 3rd key.</p>

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