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Crypto very much suffers from a chronic case of "one bad apple spoils the barrel". There was a time when I was proud of working on crypto, and how most of our
by pdpi 5y ago
Crypto very much suffers from a chronic case of "one bad apple spoils the barrel".
There was a time when I was proud of working on crypto, and how most of our users were actually, genuinely using our product to evade various forms of abuse from their local authorities. Once prices started going up and and a bunch of people started using it as a get-rich-quick scheme, that rapidly became a vicious cycle with people like me started leaving the ecosystem in disgust, and we lost what pressure existed within crypto-adjancent companies to stay true to the original goals.
This article makes it sound that Vitalik is reaching that state of disillusionment as well. Shame, he's one of the last few "true believers" I know of.
- hackerfromthefu 5y agoMate it seems like most of the bag of apples is rotten, thought I appreciate you are saying not all.
- tablespoon 5y ago> There was a time when I was proud of working on crypto, and how most of our users were actually, genuinely using our product to evade various forms of abuse from their local authorities. This is one of cases where the term "crypto" is genuinely confusing. I'd easily believe your claim if it were about cryptography, but I'm highly skeptical about it as applied to cryptocurrency. I wouldn't be surprised if, when the final history of cryptocurrency is written, its main effects will be judged to have been scams and linguistic confusion.