Sep 3, 2018 · 1 min read
We have seen that permissionless results in tyranny and loss of security and privacy. Why is this good??? Imagine a world of cocktail parties without invitations or RSVPs, where people just showed up, started shouting at each other, stealing from one another, maybe hitting each other, and then moving on to the next party.
Better is a permissioned system where costs of entry are lowered substantially, so that they appear almost free or even subsidized. Such a model exists under equilibrism.