The Prisoner's Dilemma on Crack

Again, I'm trying (and struggling) to explain why I found blockchain so profound. Bitcoin solved the prisoner's dilemma by making defection irrational. Ethereum puts that idea on crack. I felt that if we stuck to transparency and permissionless access, we could have recaptured the group dynamic. The community was completely ignoring this most important issue.

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Bitcoin solved the prisoner's dilemma. Ethereum puts that idea on crack. This essay explains why the author quit his job.

You Say You Want a Revolution collects 75 essays written over ten years — from the 2016 DAO hack through 2026. One engineer’s journey from true believer to battle-scarred skeptic, building tools for a decentralized future while watching the movement betray its own principles.