Indeed. The author is pointing out how Bitcoin was introduced by Satoshi as a decentralized cryptocurrency that would have lower transaction fees (enabling small transactions) and not having to depend on large intermediaries, but here we are and almost no one in the Bitcoin community considers it a good currency, transaction fees are much higher than the main alternatives (ACH or Visa—with the exception of international wire transfers which charge similar fees), and centralized online wallets and exchanges like Coinbase are where most of Bitcoin action actually happens now.
Satoshi’s paper is really good. More people should revisit it, and it’s even more interesting with hindsight today.
Satoshi’s paper is really good. More people should revisit it, and it’s even more interesting with hindsight today.