[ChainOfFools]

I'm not advocating for the "industry" side as if it's a dichotomic industry against crypto, or banking against bitcoin. I'm specifically criticizing crypto and especially Bitcoin because the entire ideological mission of the project is to disrupt and disintermediate all of these well-known predatory Industries, when it has done none of this whatsoever. In fact has actually contributed both to incumbent disproportionate inequality of wealth, as well as creating new classes of disproportionate and malignant, aggressively unaccontable wealth. It has backfired in the worst possible way and all the fallout is on the people that was supposed to benefit.

And the and the relative handful of people at the center of the so-called decentralized crypto world are well aware of this and don't give a flying f**.

[crtified]

I wonder that we couldn't say similar about the TCP/IP protocol.

It's the human behaviour, what our species turns the protocol to, that we're really complaining about.

[ChainOfFools]

The tcp/ip protocol didn't have a white paper and accompanying ideological promotion and narrative expressly stating the purpose was to wrest power to create money from sovereign central governmental authorities that had ostensibly abused it, back to regular people in a decentralized manner. And instead resulted in a cartelified cabal of people who go out of their way to be unaccountable by obscuring their identities, which is actually a step down from people who you can at least in theory remove from power or hold accountable through democratic means.

It sure doesn't help that the earliest adopters went on the social media of the time crowing about how they were the new wealthy elite.

[crtified]

The (admittedly slow) progress of regulation represents the 'democratic means' you speak of.