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For me it was when I finally understood that Ethereum is a decentralized, globally accessible API, that anyone can extend, nobody can take down, and it's all dr
by dntrkv 5y ago
For me it was when I finally understood that Ethereum is a decentralized, globally accessible API, that anyone can extend, nobody can take down, and it's all driven by its builtin currency that incentivizes good behavior.
Honestly, with all of the complaints on HN about companies revoking API access, and any other of the multitude of complaints about centralized solutions, you would think the HN crowd would be onboard.
- Vespasian 5y agoHow decentralised and democratic is the steering and decision making in reality? Nobody elects the mining pool operators, nobody elects the people owning the mining hardware and not enough people elect the people who are steering the various crypto foundation. If a crypto blows up and becomes essential to a countrys economy the vast ordinary citizens will only participate in it by earning money and spending it for their needs. For those people you just replaced a somewhat accountable government, with somewhat predictable financial policies and transparency processes with one nobody knows anything about which is perhaps operating far away and in a different culture/country. For many people in the world that'll mean less influence on the decision making process. In other words: There is no fundamental reason to trust the Ethereum Foundation more than the ECB or the Fed.