>the value proposition of all the crypto nonsense is that some people don't like trusted entities.
Becoming a trusted entity is hard. Crypto allows for the creation of systems that don't require trusted entites. That's a huge win for the little guy and catalyst for innovation.
I'm not saying there aren't rational reasons to dislike trusted entities. At a minimum they are single points of failure. But all this does come at a high cost.
The real questions to ask with blockchain stuff:
- at what cost does this lack of trusted entitids come at? I don't just mean in terms of money but also engineering complexity
- what are the hidden trust relationships? Plenty of blockchain stuff still involved trusted entities, its just hidden through layers of indirection. The only thing worse than a trusted entity you dont trust is a trusted entity you don't even know exists.
I tend to think its not worth the trade off (and the "decentralization" is questionable in practise), but this line of criticism is basically begging the question.