Decentralization has never been an end-state. In hindsight, it has always been a vessel for achieving a concession from a centralized body it is protesting.

Every decentralization play has followed a simple pattern: protest a market inefficiency, win that protest via a major concession, and then disappear back to fringes of society.

You can see this throughout history.

MUSIC [1999–2008]

If you want to legitimately pay for downloadable music you need to access dozens of Web sites using a variety of different programs that may or may not be compatible with your hardware. …


Brandon Arvanaghi

@Layer1. Bitcoin, security, energy, and economics. Former early @Gemini.

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