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I like the idea behind Bitcoin, Ethereum and other cryptocurrencies, but not religiously. I think we still need centralization in technology to solve real-life problems and I think the crypto industry religiously favors tech over solutions and disagrees on everything important.
Reliability: Decentralized solutions may have a 99.99% downtime (although there are some exceptions, i.e IOTA), but that comes at a price: Performance.
Performance: Centralized solutions are an order of magnitude better than decentralized ones for various tasks. Think of Twitter over Mastodon, VISA over Bitcoin, AWS S3 over IPFS, etc.
Legal: I usually don& #39;t care about this part, but it& #39;s hard to build a business on top of something that is highly regulated while claiming it& #39;s a "Freedom movement". Imagine selling colored water to someone and calling it juice.
Usability: Projects such as eBay or Gmail didn& #39;t succeed because they used a particular technology, they succeeded because they solved an important problem efficiently. Bitcoin solved decentralized money transfer at the cost of speed, but the majority only care about the latter.
Scalability: Some consensus protocols are unscalable. Having an unscalable project is fine, but it& #39;s not if your project happens to be a protocol meant to be used by the masses.
PoW does solve the initial distribution problem, but at the expense of scalability. PoS does the opposite. Centralized solutions have both.
People: If you are on crypto twitter, you exactly now what this is about. Some think only one protocol should exist and rule them all (and yet claim to be pro-freedom), while others envision the opposite. This is weakening an industry that is already very fragile.
UX: The average Joe doesn& #39;t get the "Internet money" thing and uses a bank account over crypto, it& #39;s simpler and relies less on him and his ability to take care of his money.
