Theory: decentralized protocols are preceded by informal human networks doing same work Pre-Napster, websites linked to free mp3s hosted by others, updating links when those hosts were taken down.
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Read it after. Question still stands.
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If you buy the "fat protocol" argument then you might view tokens as an incentive to build a system like this. Why would I spend years building this with BTC? Tokens also make it easier to experiment early on at low cost + fork your own system if you screw up
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I also question whether it is actually simpler to build this with BTC. You could get most benefits I talk about in the article even if you couldn't cash out the token. I'm curious your take on the flip side of the question. Why use BTC instead of a token?
End of conversation
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