| I can take another stab at it if you like, but just because my defense is irrefutable doesn't make it a tautology ;) > decentralization Decentralization of currency is provably less efficient than centralization. Trust is a huge optimization, as you can see by the sheer overwhelming inefficiency of proof of work algorithms. It's tens of thousands of times less efficient. With reference to [1] a single BTC transaction releases 332 KILOGRAMS of CO2, consumes 700kWh of power and generates 87 GRAMS of e-waste. That's enough to drive a Tesla Model S from San Francisco to New York, and throwing half an iPhone out the window en route. And that's without paying for the fill-ups on the way. Then there's the pragmatic: every stumble down the timeline winds up with all coins lost. We're at 20% of BTC lost already, since there's nobody to appeal to, you're just SOL. > anarchism Anarchy is not an effective way to ... anything. If there are some proven successes of anarchy at scale please do cite them. But without that, the entire "anarchist" crypto space has shown as soon as you open the door to the architecture, scammers and schemers follow through immediately. [2] The entire pricing structure of all cryptocurrencies has centralized thanks to anarchy and is centrally controlled via Bitfinex' totally oversight-free generation of billions of dollars in fake money in Tether. This is just the tip of the iceberg. > applied cryptographic research Doesn't matter if they're pointing in the wrong direction. > real-world improvements to banking and the exchange of currency Everything crypto does can be done better, faster and cheaper with traditional currency since it's not boat anchored to the inefficiency of decentralization. Not to mention, it fails at even the most basic aspects of modern currency theory by being deflationary. [1] https://digiconomist.net/bitcoin-energy-consumption [2] https://www.newyorker.com/humor/daily-shouts/l-p-d-libertari... |