Written byby someone who does not understand it much if at all. And I don't mean doesn't understand it like a technical person or cult like devotee, I mean they

Written byby someone who does not understand it much if at all. And I don't mean doesn't understand it like a technical person or cult like devotee, I mean they have very little surface knowledge. Typical of legacy media institutions. "Crypto" initial excitement was self sovereign money. Later came the other stuff, the web3 smart contract stuff. I'd say bitcoin (little b, the idea, not just the network, other thinks like Litecoin and Monero qualify) quite live up to their initial excitement. I can store an arbitrary amount of wealth in my head that cannot be taken from me via legal processes, and I can send it to anyone I like and nobody can stop me. They can punish me, but they can't stop me. This is a revolutionary thing that IMO makes this supposed competition with traditional banking a no contest. There are selective pressures at work here. It has an algorithmically deterministic supply. I believe this is the future of money. Crypto without the currency, not talking about cryptography, is basically just ethereum. That has definitely not lived up to the hype. We never got mist browser, swarm, bzz, all the things that originally constituted the whole web3 concept. What appears to have emerged is basically a large unregulated (and unregulatable) securities exchange. This in itself can be seen as a positive thing, I think it is, but it doesnt live up. There are a few very (not to understate, very very) interesting things being done with it, but this stuff was supposed to reinvent communication and incentive structures, allow people to organize in novel ways. This has not happened and it doesn't look like it is going to happen. Instead we get NFT cartoon drawings and meme coins, interspersed with a few really inventive financial tools here and there. It's looking more and more like this is going to replace stock exchanges moreso than allow people to create autonomous organizations that control real world assets anonymously with collateralized deterministic agreements that need no court system to resolve disputes.