Unfortunately for these developers who probably had no legal training of any kind, Nick’s legal theory is actually very stupid, and based on a naive interpretation of how existing legal systems will interact with crypto legal systems.
Ok then guess what Peter Theil is also in the very stupid camp as to how he thinks about new technology superseding regulation. You can read all about it here:
or you can watch the interview on the Rubin Report
The politicians didn’t like us but if we got PayPal to be big enough it would sort of overwhelm the regulators and they’d have to accept it as a fait accompli
We had the sense that we were going to change the world and we were going to give people more control over their money.
the PayPal hack was a way where we were going to change the world and we were not going to ask for permission (it would just be) technology over politics.