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Pushing for decentralization in governance is an ideological stance; it should be considered as such, and not blindly accepted until a first-principles analysis of whether it would be a good idea in the situation at hand
(It sounds insane to want to replace the Fed, which is accountable and has a clear stabilizing role in the economy, with highly-centralized unaccountable power structures built on top of excruciatingly inefficient distributed-consensus computing infrastructure.)
With centralised decision systems human decisions can dominate, with decentralised ones you have to rely on machine decisions. And I don't know if it's a good idea to do so in an area that is all about agents (both human and machine) trying to game the system.
...Largely peopled with individuals who believe the world's optimal state is achieved through nonstop self-interest.
Much of the confusion stems from not defining the layer/scale of the thing in question. Like saying the length of something without specifying the unit
So you were talking #blockchain...:) It's not about replacing the Fed, but about reimagening what data-driven decentralized (consensus-based) algorithms might b better suited for an adaptive economy than "quantitative easing". What are you afraid of? A financial crisis like 2008?
QE is a fancy way to say "print money". "Blockchain" mechanisms was invented for a very specific task: replace FED. No one want to see reimagined fancy names or algorithm for defining inflation.
You had me until the pro-Fed comment. Now I'm fully radicalized in favor of decentralization.
Except...it’s not decentralized
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