edit: apologies to OP of this comment, as I only just saw that they intentionally omitted counter-arguments
I disagree with almost all your points, except for a couple such as the space being filled with scammers.
You’re clearly a smart person who’s aware of traditional finance’s inherent flaws. Which is why I find it puzzling you make claims such as PoS being a Ponzi scheme; no it’s not, and it’s basically analogous to earning interest on your savings in a bank account (at least, that’s what savings accounts used to do). So are you saying that earning interest is also a Ponzi scheme? Because - by definition - it’s the same thing. Both mental models share the same antecedent: locking up your wealth/capital which is leveraged for other use-cases, and for which you are rewarded/incentivised with passive income.
Now, for a real-world example that counters almost every point you raised, I suggest looking into the Terra ($LUNA) ecosystem and the Anchor Protocol built on top, which is probably the best example currently of a decentralised algorithmic stablecoin protocol - and its seminal decentralised application - gaining mass adoption by providing a real advantage over traditional finance. Its only slight shortcoming is that its validator set is slightly centralised atm (but still much better than most other solutions).
Try googling it, or even browse the open source anchor web app repo. I know this is a lazy answer, but it’s no lazier than spouting some well known flaws of gen 1 & gen 2 blockchains and extrapolating it to say the entire space is flawed.
Finally, just be cognizant of the fact that when something causes an extreme polarisation in opinions and sentiment, the truth is likely somewhere in the middle, with rhetoric at either end typically based on misinformation.
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edit: apologies to OP of this comment, as I only just saw that they intentionally omitted counter-arguments
I disagree with almost all your points, except for a couple such as the space being filled with scammers.
You’re clearly a smart person who’s aware of traditional finance’s inherent flaws. Which is why I find it puzzling you make claims such as PoS being a Ponzi scheme; no it’s not, and it’s basically analogous to earning interest on your savings in a bank account (at least, that’s what savings accounts used to do). So are you saying that earning interest is also a Ponzi scheme? Because - by definition - it’s the same thing. Both mental models share the same antecedent: locking up your wealth/capital which is leveraged for other use-cases, and for which you are rewarded/incentivised with passive income.
Now, for a real-world example that counters almost every point you raised, I suggest looking into the Terra ($LUNA) ecosystem and the Anchor Protocol built on top, which is probably the best example currently of a decentralised algorithmic stablecoin protocol - and its seminal decentralised application - gaining mass adoption by providing a real advantage over traditional finance. Its only slight shortcoming is that its validator set is slightly centralised atm (but still much better than most other solutions).
Try googling it, or even browse the open source anchor web app repo. I know this is a lazy answer, but it’s no lazier than spouting some well known flaws of gen 1 & gen 2 blockchains and extrapolating it to say the entire space is flawed.
Finally, just be cognizant of the fact that when something causes an extreme polarisation in opinions and sentiment, the truth is likely somewhere in the middle, with rhetoric at either end typically based on misinformation.