It certainly puts words to my feelings around current "crypto" trends as someone (probably like moxie) that still remember the first wave of cypherpunks[1] and dreams of digital currencies.

It feels strange when a lot of smart people insists on something that's obviously false in a practical, real-world sense - and it's nice to see someone else shine a light on that, and explain in simple, correct terms what's actually going on.

I wonder if there are any emerging systems that are more likely to realise the idea (ideals) of digital currencies and smart contracts?

I had hopes for etherum, but now I'm thinking that if we'll ever get there, it'd be in the next generation (call it third generation, bitcoin being first, etherum second - and earlier things generation zero).

I'm thinking it would be proof-of-stake, and somehow viable as real peer to peer, or split in a more sane way between infrastructure and "wallets".

[1] See eg this for a summary and some pointers https://nakamoto.com/the-cypherpunks/