Decentralization theater matters because it reduces censorship-resistance, and also gives leverage to regulators or police enforcers to coerce developers into making changes, revealing information, or simply shutting the thing down. How can people trust that this can be a feasible infrastructure for the future of finance, how can institutions trust they can move trillions of dollars in the system, if it can be arbitrarily changed?
Crypto’s Theater Is Becoming More Surreal
