Discussion about this post

User's avatar
Speculator's avatar

I reached pretty much the same conclusions. However, my recent reading about Tether has moved me strongly towards your last bullet point. If you haven't read it, I'd suggest reading the relevant article on singlelunch.com (google 'tether ponzi'). It seems to me there's a huge problem sitting in plain sight in the cryptosphere with that situation. It's all verifiable and it's all very very murky indeed (think of a 'bad FED' freely printing crypto for it's own gain).

Notwithstanding that, I think we could all see how amazing the internet was in the 90's. We didn't know how it'd pan out exactly, but it was cool right from the off. Crypto is over 10 years old now, what are we really doing with it apart from trading it like pogs? It's a sham.

Expand full comment
Em5k's avatar

Well...someone might say "am I too young to understand the world's love affair with fiat currency and the oligarchy pulling the strings?". Of your three bullet points, I am in the 2nd camp. This is true for AI (artificial intelligence), EV (electric vehicles), climate change, gene sequencing/editing, and yes, even crypto and blockchain technology. If we look back at Internet 1.0 (1995 - 2000), I think we can see a lot of similarities. This seems true for any inflection point in history with enough innovations, wherein there is a general lag in the S-curve adoption. We can include "failures" that even when technically viable, we may have a poor execution (A+ idea, C- management team) or just poor timing or bad funding. I do not think we see many televisions by Farnsworth or riding Wright brothers airlines.

But, I empathize re: annoyance with jargon use. A common affliction of many presenters (some do it subconsciously because their mind is racing, or some are autistic, yet some deliberately doing it to make the audience feel helpless or not part of the clique/generate fear of missing out ). This is true for many topics - not just crypto, but techno schmucks, financial gurus...present company excluded :-). I hate it even in my own field they use acronyms and will not have the courtesy to define and contextualize.

Cheers!

Expand full comment
10 more comments...

No posts