RE: The Shifting Sands of Crypto

I agree with you completely.
I feel you have a good grip on the issues here and although no one can see the future, we know it will not be like this.
Steemit Smart Contracts were defi and we didn't even recognize it by that name, but they provided permissionless and trustless transactions and earnings. But we didn't always recognize what we had. But like you said the centralized aspects of the project killed it.

We are going through a painful period, and many people are ou have a good afriad at the loss of centralized financial rails. But you are right, we should embrace the future, which hopefully is decentralized in the dimension we live in, but could become a dystopian centralized affair like China is evolving into.

Few recognize what you are saying, the SEC and other units of government are attacking the centralized financial rails, because they can, because they are centralized. They will find it much more difficult to attack decentralized financial rails, and that is a good thing, because the more independent we are of things they can attack, the more independent we are of the government.

We can be law abiding citizens, who the government can't attack, that is the dream, but crypto will go through several evolutionary steps to get there.

The current stablecoin trilema of creating the stable coin which balances decentralization with liquidity with value/peg to fiat, is based on a limited intellectual mindset towards the value of centralization and control versus decentralization and no control. we still cling to centralization as a guarantor of stability and value, while ignoring the multiple examples this past year of centralization, corruption and indeed contempt the centralized leaders have for those who trust them with their cryptocurrency.

Cryptocurrency gives us control and independence when we use it's natural safeguards; encryption. Many have historically given up these protections to participate in lucratiove but centralized financial strategies, and many paid the price.

You are right, one day future crypto investors will look back and laugh at the immature systems we use and the unsafe nature of our investments brought about by our glad participation in centralized projects. They will probably think we were ignorant fools, as they will have no point of reference to our current helplessness and few good choices.

But I take heart in the fact that everything, everywhere and all the time... things in cryptocurrency are changing. Ideas are born every minute to make this financial niche better, safer and more reliable through transparency and creating more investor control over their assets.

We will progress, we will get better, our capitol just has to survive until then, and we just have to live long enough to see it come to pass.

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