>First of all, are we discussing crypto as a currency or blockchains as a technology? Blockchains require an incentive for members of their network to maintain

>First of all, are we discussing crypto as a currency or blockchains as a technology? Blockchains require an incentive for members of their network to maintain a copy of the shared ledger. Modeling it after a deflationary currency creates a first-mover advantage that generates this momentum. We're not talking about "theoretical objections" or hypothetical better systems, the commonly implemented blockchain systems are creating problems that are manifesting themselves today, and every ounce of capital invested into them creates real inertia against changing how they fundamentally work. >Proof of work might or might not be around in the future: who knows? We can not afford to be ambivalent about how this technology evolves.