>>Second layers act as a reminder that the original networks cannot scale, and need a second network on top of the network to operate. This is an admission of f

>>Second layers act as a reminder that the original networks cannot scale, and need a second network on top of the network to operate. This is an admission of failure. That is not argument against cryptocurrency. It is just a recognition that the first implementations had shortcomings that could be improved upon. The internet did not emerge in the 1970s/80s with the functionality it has now. >>Nope, I would love for a decentralized system to emerge, I’ve been an advocate of decentralization for 20 years. But crypto ain’t it. It’s highly centralized, and it has a propensity for inequality that makes capitalist economies look like anarchist communes. I don't buy it. A truly decentralized system cannot be censored. It enables exactly the kind of free-for-all that the author criticized it for back in 2011. [1] The author wants centralized regulatory gatekeeping and control, without calling it that. This is the case with most of the avowed opponents (as opposed to mere skeptics) of cryptocurrency. [1] https://twitter.com/technollama/status/83187937738625024 https://twitter.com/technollama/status/83187937738625024