This is cynical and yet at the same time reassuring, since the entire crypto world is mysterious to me. I’ve never bothered to understand it, and it can be frightening to think that it might be the future, as inscrutable as it is.
What this post does more than anything (and I think that is the goal) is illustrates that for all the crypto bluster, it’s currently a terrible financial system that has all sorts of massive risks that are not just hypothetical but have already been realized.
At most we might be obliged to kill the worst (and a lot of other non-crypto things) but killing all makes no sense when there's many with fairly neglible impact.
If this is true, crypto is dead in the water and always has been. It's not hard to understand that people are simply not going to go through that trouble in order to own something.
This is actually pretty easy. Crypto is a new market, so there is a historical amount of information asymmetry between consumers and producers. This brings a lot of scammers to the space. A lot of crypto is definitely bullshit, but you’d be an idiot to ignore the realistic and adopted use-cases.
Exactly. Speculators are gonna speculate. Most of the worst aspects of cryptocurrency were done by normal con artists with absolutely no interest in touching a blockchain. When that was no longer quite as popular they just switched to whatever new thing was popular that the public couldn't understand.
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