There are a lot of arguments against crypto-- doubts about scaling, misunderstandings around energy use, uninformed claims that it's value-less because it's "not real." These arguments are weak and fall apart under scrutiny.

The situation with Augur cuts to the heart of the one thought that truly makes me doubt my enthusiasm about this technology: what if we're wrong about the benefits of decentralization itself? What if centralized authority is actually critical for civil society, and we're in the process of destroying it?

Déjà Vu All Over Again, Again

I've written before how much the crypto community could learn from the lessons of the internet itself. This case is no different.

It's hard to remember now in 2018, but there was a time when many had a near-utopian view of the internet's impact on the world. By connecting all of humanity with a decentralized network, we would end our divisions and enrich each other's lives. Once we could talk with each other across the globe, we would recognize our shared humanity and erase our cultural differences. The end state would be a unified humankind. So the story went.