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RE: How To Destroy Bitcoin According to MIT Tech Review
You don't seem to understand the way new technologies get optimized over time. The Internet was invented in 1969 and it took 30 years before it was ready for average people. Of course, when crypto is ready for mainstream you will be able to pay for anything with any token. Cross-chain atomic swaps and decentralized exchange will be buried at the protocol level and invisible to the user. That's what is being built. Capital gains will go away when people are using crypto like it's money. The governments cannot keep up the facade when their rules are in violation of basic reality.
I don't really think the Internet is comparable to cryptocurrencies. I still think at its very foundation, decentralization will always sacrifice convenience and more importantly support. You can reduce the odds of a screw-up by creating a decentralized exchange that has a beautiful front-end, but the problem is that those who screw-up, are screwed. There is no recourse - which is in part why discussions over proposals like EIP 999 and EIP 867 are interesting. No longer that "optimal" decentralized level (which is fairly extreme perception right now in crypto space), but perhaps enough so while still offering a tad more support. I suppose we'll see how it turns out over the long-run.
Yes, we are so early in this process. I compare it to the Internet in the way that most users of the internet don't care how TCP/IP works. The long-term outcome is the user just uses a dapp and trusts the protocol will just work. The complexity is hidden. Saying the issues we currently have with crypto will never be solved is short-term thinking. Its just software, engineering the correct algorithm takes time but is not impossible. It's programmable money. Anything that can be done with software can now be done with money. We are just starting layer 2 solutions. Once we get to layer 3, layer 4 solutiuons the convenience issus will be solved.
I agree, but also note, lower level, base line "Raw" decentralization is both inefficient and also requires a lot of responsibility. The higher the layer the potential for lower decentralization, but again lower responsibility ( I'd imagine). Higher layer solutions need to be very well thought out, and should not be rushed. Just my humble opinion.
I've always advocated that decentralisation brings about responsibility, and to be honest, if I think about it, I have to say in general, in this day and age, people have been and are "Marketed" out of resonsibility, at what cost? well that's another topic. I also think about it this way, electricity can kill people almost instantly, and you cannot bring one back to life "even if death was by electrocution". ( equated to an irresponsible person working with decentralisation or a decentralised system), but it(electricity) has been one of the greatest innovations and game changers to humanity. Yes electricity can still kill, if you are irresponsible with it....