Major Network changes:
- Average blocks mined per day have dropped by 60%.
- Number of active Bitcoin addresses has tanked more than 50% since May.
- BTC Block Interval Hits 10 Year High.
I think this article by the author tries to justify cryptocurrencies as a more efficient mechanism to handle monopoly. But cryptocurrencies are not scalable neither they have any proven use case as a currency.
Yes, in case of small price cryptocurrencies people are using their office hardware to mine. It's hard to believe the kind of penetration level cryptocurrencies has gained.
Regulation is good but only when it is done with an intention of making it available to the public in a risk-free manner and not trying to abandon it. Cryptocurrencies for the first time are making people realize the importance of financial freedom like never before. Governments are not scared because cryptos can be used for illegal purpose but because it is challenging the whole foundation of current global economics.