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This whole thing is similar to neural networks. They were almost universally sneered at for many years. But it turned out that the neural network advocates were
by ilaksh 2y ago
This whole thing is similar to neural networks. They were almost universally sneered at for many years. But it turned out that the neural network advocates were 100% correct.
The DAO getting hacked many years ago does not refute the idea of using math and the internet to transform money rather than relying on private middlemen companies.
- lolinder 2y agoThis is such a popular fallacy: "people sneered at ${thing that became a big deal} and therefore ${thing that I'm a big believer in} isn't doomed to obscurity." For every success story that people were skeptical of there have been a thousand failures that people were just as skeptical of. "People also made fun of ${success}" is meaningless as a defense of any technology. As I noted in my reply: middlemen are inevitable and already dominate the crypto space. If your plan for a crypto future doesn't plan around the inevitable middlemen you're already doomed to failure.