Great News about the new Google Business Intelligence Solution

Google has renamed Data Studio to Looker Studio and Looker Studio Pro.

Now, Google releases Looker Studio Pro. Similar to the move from Data Studio to Looker Studio, Looker Studio Pro is basically what Looker was previously, but both solutions will merge. Google says the Pro edition will acquire new enterprise management features, team collaboration capabilities, and SLAs.

In addition to Google's announcements and sales methods, additional features include:

Looker Studio assets can now have organizational ownership. Customers can link Looker Studio to a Google Cloud project and migrate existing assets once. This provides:

• Your users' created Looker Studio assets are all kept in a Google Cloud project.

• When the users who own assets leave your organization, the assets won't be removed.

• Using IAM, you may provide each Looker Studio asset in your company project-level permissions.

• Other Cloud services can access Looker Studio assets that are owned by a Google Cloud project.

Looker Studio Pro clients may now manage report and data source access at scale using team workspaces.

Google announcing these features for the pro version is fascinating. Both products will likely converge, but Google may only release many features in the premium version in the future. Microsoft with Power BI and its free and premium variants already achieves this.

Sources and Further Readings

Google, Release Notes (2022)

Google, Looker (2022)

Would you abandon your bank for Apple?

Banks are struggling.

• not as a result of inflation

• not due to the economic downturn.

• not due to the conflict in Ukraine.

But because they’re underestimating Apple.

Slowly but surely, Apple is looking more like a bank.

An easy new savings account like Apple

Apple has a new savings account.

Apple says Apple Card users may set up and manage savings straight in Wallet.

• No more charges

• Colorfully high yields

• With no minimum balance

• No minimal down payments

Most consumer-facing banks will have to match Apple's offer or suffer disruption.

Users may set it up from their iPhones without traveling to a bank or filling out paperwork.

It’s built into the iPhone in your pocket.

So now more waiting for slow approval processes.

Once the savings account is set up, Apple will automatically transfer all future Daily Cash into it. Users may also add these cash to an Apple Cash card in their Apple Wallet app and adjust where Daily Cash is paid at any time.

Apple Pay and Apple Wallet VP Jennifer Bailey:

Savings enables Apple Card users to grow their Daily Cash rewards over time, while also saving for the future.

Bailey says Savings adds value to Apple Card's Daily Cash benefit and offers another easy-to-use tool to help people lead healthier financial lives.

Transfer money from a linked bank account or Apple Cash to a Savings account. Users can withdraw monies to a connected bank account or Apple Cash card without costs.

Once set up, Apple Card customers can track their earnings via Wallet's Savings dashboard. This dashboard shows their account balance and interest.

This product targets younger people as the easiest way to start a savings account on the iPhone.

Why would a Gen Z account holder travel to the bank if their iPhone could be their bank?

Using this concept, Apple will transform the way we think about banking by 2030.

Two other nightmares keep bankers awake at night

Apple revealed two new features in early 2022 that banks and payment gateways hated.

• Tap to Pay with Apple

• Late Apple Pay

They startled the industry.

Tap To Pay converts iPhones into mobile POS card readers. Apple Pay Later is pushing the BNPL business in a consumer-friendly direction, hopefully ending dodgy lending practices.

Tap to Pay with Apple

iPhone POS

Millions of US merchants, from tiny shops to huge establishments, will be able to accept Apple Pay, contactless credit and debit cards, and other digital wallets with a tap.

No hardware or payment terminal is needed.

Revolutionary!

Stripe has previously launched this feature.

Tap to Pay on iPhone will provide companies with a secure, private, and quick option to take contactless payments and unleash new checkout experiences, said Bailey.

Apple's solution is ingenious. Brilliant!

Bailey says that payment platforms, app developers, and payment networks are making it easier than ever for businesses of all sizes to accept contactless payments and thrive.

I admire that Apple is offering this up to third-party services instead of closing off other functionalities.

Slow POS terminals, farewell.

Late Apple Pay

Pay Apple later.

Apple Pay Later enables US consumers split Apple Pay purchases into four equal payments over six weeks with no interest or fees.

The Apple ecosystem integration makes this BNPL scheme unique. Nonstick. No dumb forms.

Frictionless.

Just double-tap the button.

Apple Pay Later was designed with users' financial well-being in mind. Apple makes it easy to use, track, and pay back Apple Pay Later from Wallet.

Apple Pay Later can be signed up in Wallet or when using Apple Pay. Apple Pay Later can be used online or in an app that takes Apple Pay and leverages the Mastercard network.

Apple Pay Order Tracking helps consumers access detailed receipts and order tracking in Wallet for Apple Pay purchases at participating stores.

Bad BNPL suppliers, goodbye.

Most bankers will be caught in Apple's eye playing mini golf in high-rise offices.

The big problem:

• Banks still think about features and big numbers just like other smartphone makers did not too long ago.

• Apple thinks about effortlessness, seamlessness, and frictionlessness that just work through integrated hardware and software.

Let me know what you think Apple’s next power moves in the banking industry could be.

The web adds millions or billions of pages per day.

How much Google traffic does this content get?

In 2017, we studied 2 million randomly-published pages to answer this question. Only 5.7% of them ranked in Google's top 10 search results within a year of being published.

94.3 percent of roughly two million pages got no Google traffic.

Two million pages is a small sample compared to the entire web. We did another study.

We analyzed over a billion pages to see how many get organic search traffic and why.

How many pages get search traffic?

90% of pages in our index get no Google traffic, and 5.2% get ten visits or less.

90% of google pages get no organic traffic

How can you join the minority that gets Google organic search traffic?

There are hundreds of SEO problems that can hurt your Google rankings. If we only consider common scenarios, there are only four.

Reason #1: No backlinks

I hate to repeat what most SEO articles say, but it's true:

Backlinks boost Google rankings.

Google's "top 3 ranking factors" include them.

Why don't we divide our studied pages by the number of referring domains?

66.31 percent of pages have no backlinks, and 26.29 percent have three or fewer.

Did you notice the trend already?

Most pages lack search traffic and backlinks.

But are these the same pages?

Let's compare monthly organic search traffic to backlinks from unique websites (referring domains):

More backlinks equals more Google organic traffic.

Referring domains and keyword rankings are correlated.

It's important to note that correlation does not imply causation, and none of these graphs prove backlinks boost Google rankings. Most SEO professionals agree that it's nearly impossible to rank on the first page without backlinks.

You'll need high-quality backlinks to rank in Google and get search traffic. 

Is organic traffic possible without links?

Here are the numbers:

Four million pages get organic search traffic without backlinks. Only one in 20 pages without backlinks has traffic, which is 5% of our sample.

Most get 300 or fewer organic visits per month.

What happens if we exclude high-Domain-Rating pages?

The numbers worsen. Less than 4% of our sample (1.4 million pages) receive organic traffic. Only 320,000 get over 300 monthly organic visits, or 0.1% of our sample.

This suggests high-authority pages without backlinks are more likely to get organic traffic than low-authority pages.

Internal links likely pass PageRank to new pages.

Two other reasons:

1. Our crawler's blocked. Most shady SEOs block backlinks from us. This prevents competitors from seeing (and reporting) PBNs.

2. They choose low-competition subjects. Low-volume queries are less competitive, requiring fewer backlinks to rank.

If the idea of getting search traffic without building backlinks excites you, learn about Keyword Difficulty and how to find keywords/topics with decent traffic potential and low competition.

Reason #2: The page has no long-term traffic potential.

Some pages with many backlinks get no Google traffic.

Why? I filtered Content Explorer for pages with no organic search traffic and divided them into four buckets by linking domains.

Almost 70k pages have backlinks from over 200 domains, but no search traffic.

By manually reviewing these (and other) pages, I noticed two general trends that explain why they get no traffic:

1. They overdid "shady link building" and got penalized by Google;

2. They're not targeting a Google-searched topic.

I won't elaborate on point one because I hope you don't engage in "shady link building"

#2 is self-explanatory:

If nobody searches for what you write, you won't get search traffic.

Consider one of our blog posts' metrics:

No organic traffic despite 337 backlinks from 132 sites.

The page is about "organic traffic research," which nobody searches for.

News articles often have this. They get many links from around the web but little Google traffic.

People can't search for things they don't know about, and most don't care about old events and don't search for them.

Note:

Some news articles rank in the "Top stories" block for relevant, high-volume search queries, generating short-term organic search traffic.

The Guardian's top "Donald Trump" story:

Ahrefs caught on quickly:

"Donald Trump" gets 5.6M monthly searches, so this page got a lot of "Top stories" traffic.

I bet traffic has dropped if you check now.

One of the quickest and most effective SEO wins is:

1. Find your website's pages with the most referring domains;

2. Do keyword research to re-optimize them for relevant topics with good search traffic potential.

Bryan Harris shared this "quick SEO win" during a course interview:

He suggested using Ahrefs' Site Explorer's "Best by links" report to find your site's most-linked pages and analyzing their search traffic. This finds pages with lots of links but little organic search traffic.

We see:

The guide has 67 backlinks but no organic traffic.

We could fix this by re-optimizing the page for "SERP"

A similar guide with 26 backlinks gets 3,400 monthly organic visits, so we should easily increase our traffic.

Don't do this with all low-traffic pages with backlinks. Choose your battles wisely; some pages shouldn't be ranked.

Reason #3: Search intent isn't met

Google returns the most relevant search results.

That's why blog posts with recommendations rank highest for "best yoga mat."

Google knows that most searchers aren't buying.

It's also why this yoga mats page doesn't rank, despite having seven times more backlinks than the top 10 pages:

The page ranks for thousands of other keywords and gets tens of thousands of monthly organic visits. Not being the "best yoga mat" isn't a big deal.

If you have pages with lots of backlinks but no organic traffic, re-optimizing them for search intent can be a quick SEO win.

It was originally a boring landing page describing our product's benefits and offering a 7-day trial.

We realized the problem after analyzing search intent.

People wanted a free tool, not a landing page.

In September 2018, we published a free tool at the same URL. Organic traffic and rankings skyrocketed.

Reason #4: Unindexed page

Google can’t rank pages that aren’t indexed.

If you think this is the case, search Google for site:[url]. You should see at least one result; otherwise, it’s not indexed.

A rogue noindex meta tag is usually to blame. This tells search engines not to index a URL.

Rogue canonicals, redirects, and robots.txt blocks prevent indexing.

Check the "Excluded" tab in Google Search Console's "Coverage" report to see excluded pages.

Google doesn't index broken pages, even with backlinks.

Surprisingly common.

In Ahrefs' Site Explorer, the Best by Links report for a popular content marketing blog shows many broken pages.

One dead page has 131 backlinks:

According to the URL, the page defined content marketing. —a keyword with a monthly search volume of 5,900 in the US.

Luckily, another page ranks for this keyword. Not a huge loss.

At least redirect the dead page's backlinks to a working page on the same topic. This may increase long-tail keyword traffic.

This post is a summary. See the original post here

We've fought for humanity's sake. We need equilibrium.

We live in a world of opposites (black/white, up/down, love/hate), thus life is a game of achieving equilibrium. We have a universe of paradoxes within ourselves, not just in physics.

Individually, you balance your intellect and heart, but as a species, we're full of polarities. They might be gentle and compassionate, then ruthless and unsympathetic.

We desire for connection so much that we personify non-human beings and objects while turning to violence and hatred toward others. These contrasts baffle me. Will we find balance?

Anthropomorphization

Assigning human-like features or bonding with objects is common throughout childhood. Cartoons often give non-humans human traits. Adults still anthropomorphize this trait. Researchers agree we start doing it as infants and continue throughout life.

Humans of all ages are good at humanizing stuff. We build emotional attachments to weather events, inanimate objects, animals, plants, and locales. Gods, goddesses, and fictitious figures are anthropomorphized.

Cast Away, starring Tom Hanks, features anthropization. Hanks is left on an island, where he builds an emotional bond with a volleyball he calls Wilson.

We became emotionally invested in Wilson, including myself.

Why do we do it, though?

Our instincts and traits helped us survive and thrive. Our brain is alert to other people's thoughts, feelings, and intentions to assist us to determine who is safe or hazardous. We can think about others and our own mental states, or about thinking. This is the Theory of Mind.

Neurologically, specialists believe the Theory of Mind has to do with our mirror neurons, which exhibit the same activity while executing or witnessing an action.

Mirror neurons may contribute to anthropization, but they're not the only ones. In 2021, Harvard Medical School researchers at MGH and MIT colleagues published a study on the brain's notion of mind.

“Our study provides evidence to support theory of mind by individual neurons. Until now, it wasn’t clear whether or how neurons were able to perform these social cognitive computations.”

Neurons have particular functions, researchers found. Others encode information that differentiates one person's beliefs from another's. Some neurons reflect tale pieces, whereas others aren't directly involved in social reasoning but may multitask contributing factors.

Combining neuronal data gives a precise portrait of another's beliefs and comprehension. The theory of mind describes how we judge and understand each other in our species, and it likely led to anthropomorphism. Neuroscience indicates identical brain regions react to human or non-human behavior, like mirror neurons.

Some academics believe we're wired for connection, which explains why we anthropomorphize. When we're alone, we may anthropomorphize non-humans.

Humanizing non-human entities may make them deserving of moral care, according to another theory. Animamorphizing something makes it responsible for its actions and deserves punishments or rewards. This mental shift is typically apparent in our connections with pets and leads to deanthropomorphization.

Dehumanization

Dehumanizing involves denying someone or anything ethical regard, the opposite of anthropomorphizing.

Dehumanization occurs throughout history. We do it to everything in nature, including ourselves. We experiment on and torture animals. We enslave, hate, and harm other groups of people.

Race, immigrant status, dress choices, sexual orientation, social class, religion, gender, politics, need I go on? Our degrading behavior is promoting fascism and division everywhere.

Dehumanizing someone or anything reduces their agency and value. Many assume they're immune to this feature, but tests disagree.

It's inevitable. Humans are wired to have knee-jerk reactions to differences. We are programmed to dehumanize others, and it's easier than we'd like to admit.

Why do we do it, though?

Dehumanizing others is simpler than humanizing things for several reasons. First, we consider everything unusual as harmful, which has helped our species survive for hundreds of millions of years. Our propensity to be distrustful of others, like our fear of the unknown, promotes an us-vs.-them mentality.

Since WWII, various studies have been done to explain how or why the holocaust happened. How did so many individuals become radicalized to commit such awful actions and feel morally justified? Researchers quickly showed how easily the mind can turn gloomy.

Stanley Milgram's 1960s electroshock experiment highlighted how quickly people bow to authority to injure others. Philip Zimbardo's 1971 Stanford Prison Experiment revealed how power may be abused.

The us-versus-them attitude is natural and even young toddlers act on it. Without a relationship, empathy is more difficult.

It's terrifying how quickly dehumanizing behavior becomes commonplace. The current pandemic is an example. Most countries no longer count deaths. Long Covid is a major issue, with predictions of a handicapped tsunami in the future years. Mostly, we shrug.

In 2020, we panicked. Remember everyone's caution? Now Long Covid is ruining more lives, threatening to disable an insane amount of our population for months or their entire lives.

There's little research. Experts can't even classify or cure it. The people should be outraged, but most have ceased caring. They're over covid.

We're encouraged to find a method to live with a terrible pandemic that will cause years of damage. People aren't worried about infection anymore. They shrug and say, "We'll all get it eventually," then hope they're not one of the 30% who develops Long Covid.

We can correct course before further damage. Because we can recognize our urges and biases, we're not captives to them. We can think critically about our thoughts and behaviors, then attempt to improve. We can recognize our deficiencies and work to attain balance.

Changing perspectives

We're currently attempting to find equilibrium between opposites. It's superficial to defend extremes by stating we're only human or wired this way because both imply we have no control.

Being human involves having self-awareness, and by being careful of our thoughts and acts, we can find balance and recognize opposites' purpose.

Extreme anthropomorphizing and dehumanizing isolate and imperil us. We anthropomorphize because we desire connection and dehumanize because we're terrified, frequently of the connection we crave. Will we find balance?

Katrina Paulson ponders humanity, unanswered questions, and discoveries. Please check out her newsletters, Curious Adventure and Curious Life.

German stellarator revamped to run longer, hotter, compete with tokamaks

Tokamaks have dominated the search for fusion energy for decades. Just as ITER, the world's largest and most expensive tokamak, nears completion in southern France, a smaller, twistier testbed will start up in Germany.

If the 16-meter-wide stellarator can match or outperform similar-size tokamaks, fusion experts may rethink their future. Stellarators can keep their superhot gases stable enough to fuse nuclei and produce energy. They can theoretically run forever, but tokamaks must pause to reset their magnet coils.

The €1 billion German machine, Wendelstein 7-X (W7-X), is already getting "tokamak-like performance" in short runs, claims plasma physicist David Gates, preventing particles and heat from escaping the superhot gas. If W7-X can go long, "it will be ahead," he says. "Stellarators excel" Eindhoven University of Technology theorist Josefine Proll says, "Stellarators are back in the game." A few of startup companies, including one that Gates is leaving Princeton Plasma Physics Laboratory, are developing their own stellarators.

W7-X has been running at the Max Planck Institute for Plasma Physics (IPP) in Greifswald, Germany, since 2015, albeit only at low power and for brief runs. W7-X's developers took it down and replaced all inner walls and fittings with water-cooled equivalents, allowing for longer, hotter runs. The team reported at a W7-X board meeting last week that the revised plasma vessel has no leaks. It's expected to restart later this month to show if it can get plasma to fusion-igniting conditions.

Wendelstein 7-X's water-cooled inner surface allows for longer runs.

HOSAN/IPP

Both stellarators and tokamaks create magnetic gas cages hot enough to melt metal. Microwaves or particle beams heat. Extreme temperatures create a plasma, a seething mix of separated nuclei and electrons, and cause the nuclei to fuse, releasing energy. A fusion power plant would use deuterium and tritium, which react quickly. Non-energy-generating research machines like W7-X avoid tritium and use hydrogen or deuterium instead.

Tokamaks and stellarators use electromagnetic coils to create plasma-confining magnetic fields. A greater field near the hole causes plasma to drift to the reactor's wall.

Tokamaks control drift by circulating plasma around a ring. Streaming creates a magnetic field that twists and stabilizes ionized plasma. Stellarators employ magnetic coils to twist, not plasma. Once plasma physicists got powerful enough supercomputers, they could optimize stellarator magnets to improve plasma confinement.

W7-X is the first large, optimized stellarator with 50 6- ton superconducting coils. Its construction began in the mid-1990s and cost roughly twice the €550 million originally budgeted.

The wait hasn't disappointed researchers. W7-X director Thomas Klinger: "The machine operated immediately." "It's a friendly machine." It did everything we asked." Tokamaks are prone to "instabilities" (plasma bulging or wobbling) or strong "disruptions," sometimes associated to halted plasma flow. IPP theorist Sophia Henneberg believes stellarators don't employ plasma current, which "removes an entire branch" of instabilities.

In early stellarators, the magnetic field geometry drove slower particles to follow banana-shaped orbits until they collided with other particles and leaked energy. Gates believes W7-X's ability to suppress this effect implies its optimization works.

W7-X loses heat through different forms of turbulence, which push particles toward the wall. Theorists have only lately mastered simulating turbulence. W7-X's forthcoming campaign will test simulations and turbulence-fighting techniques.

A stellarator can run constantly, unlike a tokamak, which pulses. W7-X has run 100 seconds—long by tokamak standards—at low power. The device's uncooled microwave and particle heating systems only produced 11.5 megawatts. The update doubles heating power. High temperature, high plasma density, and extensive runs will test stellarators' fusion power potential. Klinger wants to heat ions to 50 million degrees Celsius for 100 seconds. That would make W7-X "a world-class machine," he argues. The team will push for 30 minutes. "We'll move step-by-step," he says.

W7-X's success has inspired VCs to finance entrepreneurs creating commercial stellarators. Startups must simplify magnet production.

Princeton Stellarators, created by Gates and colleagues this year, has $3 million to build a prototype reactor without W7-X's twisted magnet coils. Instead, it will use a mosaic of 1000 HTS square coils on the plasma vessel's outside. By adjusting each coil's magnetic field, operators can change the applied field's form. Gates: "It moves coil complexity to the control system." The company intends to construct a reactor that can fuse cheap, abundant deuterium to produce neutrons for radioisotopes. If successful, the company will build a reactor.

Renaissance Fusion, situated in Grenoble, France, raised €16 million and wants to coat plasma vessel segments in HTS. Using a laser, engineers will burn off superconductor tracks to carve magnet coils. They want to build a meter-long test segment in 2 years and a full prototype by 2027.

Type One Energy in Madison, Wisconsin, won DOE money to bend HTS cables for stellarator magnets. The business carved twisting grooves in metal with computer-controlled etching equipment to coil cables. David Anderson of the University of Wisconsin, Madison, claims advanced manufacturing technology enables the stellarator.

Anderson said W7-X's next phase will boost stellarator work. “Half-hour discharges are steady-state,” he says. “This is a big deal.”

It’s simply not conceivable, or at least not credible.

One of the most touted selling points of Crypto has always been this grandiose idea of decentralization. Bitcoin first arose in 2009 after the housing crisis and subsequent crash that came with it. It aimed to solve this supposed issue of centralization. Nobody “owns” Bitcoin in theory, so the idea then goes that it won’t be subject to the same downfalls that led to the 2008 crash or similarly speculative events that led to the 2008 disaster. The issue is the banks, not the human nature associated with the greedy individuals running them.

Subsequent blockchains have attempted to fix many of the issues of Bitcoin by increasing capacity, decreasing the costs and processing times associated with Bitcoin, and expanding what can be done with their blockchains. Since nobody owns Bitcoin, it hasn’t really been able to be expanded on. You have people like Vitalk Buterin, however, that actively work on Ethereum though.

The leap from Bitcoin to Ethereum was a massive leap toward centralization, and the trend has only gotten worse. In fact, crypto has since become almost exclusively centralized in recent years.

Decentralization is only good in theory

It’s a good idea. In fact, it’s a wonderful idea. However, like other utopian societies, individuals misjudge human nature and greed. In a perfect world, decentralization would certainly be a wonderful idea because sure, people may function as their own banks, move payments immediately, remain anonymous, and so on. However, underneath this are a couple issues:

• You can already send money instantaneously today.

• They are not decentralized.

• Decentralization is a bad idea.

• Being your own bank is a stupid move.

Let’s break these down. Some are quite simple, but lets have a look.

Sending money right away

One thing with crypto is the idea that you can send payments instantly. This has pretty much been entirely solved in current times. You can transmit significant sums of money instantly for a nominal cost and it’s instantaneously cleared. Venmo was launched in 2009 and has since increased to prominence, and currently is on most people's phones. I can directly send ANY amount of money quickly from my bank to another person's Venmo account.

Comparing that with ETH and Bitcoin, Venmo wins all around. I can send money to someone for free instantly in dollars and the only fee paid is optional depending on when you want it.

Both Bitcoin and Ethereum are subject to demand. If the blockchains have a lot of people trying to process transactions fee’s go up, and the time that it takes to receive your crypto takes longer. When Ethereum gets bad, people have reported spending several thousand of dollars on just 1 transaction.

These transactions take place via “miners” bundling and confirming transactions, then recording them on the blockchain to confirm that the transaction did indeed happen. They charge fees to do this and are also paid in Bitcoin/ETH. When a transaction is confirmed, it's then sent to the other users wallet. This within itself is subject to lots of controversy because each transaction needs to be confirmed 6 times, this takes massive amounts of power, and most of the power is wasted because this is an adversarial system in which the person that mines the transaction gets paid, and everyone else is out of luck. Also, these could theoretically be subject to a “51% attack” in which anyone with over 51% of the mining hash rate could effectively control all of the transactions, and reverse transactions while keeping the BTC resulting in “double spending”.

There are tons of other issues with this, but essentially it means: They rely on these third parties to confirm the transactions. Without people confirming these transactions, Bitcoin stalls completely, and if anyone becomes too dominant they can effectively control bitcoin.

Not to mention, these transactions are in Bitcoin and ETH, not dollars. So, you need to convert them to dollars still, and that's several more transactions, and likely to take several days anyway as the centralized exchange needs to send you the money by traditional methods.

They are not distributed

That takes me to the following point. This isn’t decentralized, at all. Bitcoin is the closest it gets because Satoshi basically closed it to new upgrades, although its still subject to:

• Whales

• Miners

It’s vital to realize that these are often the same folks. While whales aren’t centralized entities typically, they can considerably effect the price and outcome of Bitcoin. If the largest wallets holding as much as 1 million BTC were to sell, it’d effectively collapse the price perhaps beyond repair. However, Bitcoin can and is pretty much controlled by the miners. Further, Bitcoin is more like an oligarchy than decentralized. It’s been effectively used to make the rich richer, and both the mining and price is impacted by the rich. The overwhelming minority of those actually using it are retail investors. The retail investors are basically never the ones generating money from it either.

As far as ETH and other cryptos go, there is realistically 0 case for them being decentralized. Vitalik could not only kill it but even walking away from it would likely lead to a significant decline. It has tons of issues right now that Vitalik has promised to fix with the eventual Ethereum 2.0., and stepping away from it wouldn’t help.

Most tokens as well are generally tied to some promise of future developments and creators. The same is true for most NFT projects. The reason 99% of crypto and NFT projects fail is because they failed to deliver on various promises or bad dev teams, or poor innovation, or the founders just straight up stole from everyone. I could go more in-depth than this but go find any project and if there is a dev team, company, or person tied to it then it's likely, not decentralized. The success of that project is directly tied to the dev team, and if they wanted to, most hold large wallets and could sell it all off effectively killing the project. Not to mention, any crypto project that doesn’t have a locked contract can 100% be completely rugged and they can run off with all of the money.

Decentralization is undesirable

Even if they were decentralized then it would not be a good thing. The graphic above indicates this is effectively a rich person’s unregulated playground… so it’s exactly like… the very issue it tried to solve?

Not to mention, it’s supposedly meant to prevent things like 2008, but is regularly subjected to 50–90% drawdowns in value? Back when Bitcoin was only known in niche parts of the dark web and illegal markets, it would regularly drop as much as 90% and has a long history of massive drawdowns.

The majority of crypto is blatant scams, and ALL of crypto is a “zero” or “negative” sum game in that it relies on the next person buying for people to make money. This is not a good thing. This has yet to solve any issues around what caused the 2008 crisis. Rather, it seemingly amplified all of the bad parts of it actually. Crypto is the ultimate speculative asset and realistically has no valuation metric. People invest in Apple because it has revenue and cash on hand. People invest in crypto purely for speculation. The lack of regulation or accountability means this is amplified to the most extreme degree where anything goes: Fraud, deception, pump and dumps, scams, etc. This results in a pure speculative madhouse where, unsurprisingly, only the rich win. Not only that but the deck is massively stacked in against the everyday investor because you can’t do a pump and dump without money.

At the heart of all of this is still the same issues: greed and human nature. However, in setting out to solve the issues that allowed 2008 to happen, they made something that literally took all of the bad parts of 2008 and then amplified it. 2008, similarly, was due to greed and human nature but was allowed to happen due to lack of oversite, rich people's excessive leverage over the poor, and excessive speculation. Crypto trades SOLELY on human emotion, has 0 oversite, is pure speculation, and the power dynamic is just as bad or worse.

Why should each individual be their own bank?

This is the last one, and it's short and basic. Why do we want people functioning as their own bank? Everything we do relies on another person. Without the internet, and internet providers there is no crypto. We don’t have people functioning as their own home and car manufacturers or internet service providers. Sure, you might specialize in some of these things, but masquerading as your own bank is a horrible idea.

I am not in the banking industry so I don’t know all the issues with banking. Most people aren’t in banking or crypto, so they don’t know the ENDLESS scams associated with it, and they are bound to lose their money eventually.

If you appreciate this article and want to read more from me and authors like me, without any limits, consider buying me a coffee: buymeacoffee.com/calebnaysmith