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While present-day cryptocurrencies may be useful to get quick rich, in the long run they may make the world a worse place (if they aren't banned outright), and make the world more prone to catastrophic collapse and/or deeper economic enslavement https://twitter.com/GoodTexture/status/1040289596385443840
The current fad of being able to fork a codebase and dupe thousands of people into believing it has value defines the intangible Internet era we're in today
Food shortages will return the mindset to normalcy, where people again understand again physicality matters
Food shortages will return the mindset to normalcy, where people again understand again physicality matters
There will come a day when people wonder how they could have ever been duped into trading their irrecoverable time for bits in a computer or green paper
Few understand how fragile, or controllable, these systems are
Few understand how fragile, or controllable, these systems are
When the day comes where gov'ts instruct all ISP's to block #Bitcoin 
node traffic, your aunt and sister aren't going to opt for tor, vpn, satellites, or meshnet. Partially because no one uses crypto to begin with, and partly because they will abide by the rules like everyone else
node traffic, your aunt and sister aren't going to opt for tor, vpn, satellites, or meshnet. Partially because no one uses crypto to begin with, and partly because they will abide by the rules like everyone else
I had these same thoughts in 2015, as I grew weary of a crypto landscape which I knew would have unfavorable consequences for humanity. A contrarian may say this is a buy signal. It probably is
A problem I see with #DeFi is interest is being generated but there is no product being produced. Loans are being made but these loans are not being used to produce food or cars, they're used to finance more #DeFi or trades. Of course, it's still early, right?
This experiment may all end badly
When I look to the people involved in the crypto space, they may generally seem highly irrational in other aspects of their lives. This should alarm us
When I look to the people involved in the crypto space, they may generally seem highly irrational in other aspects of their lives. This should alarm us
I would enjoy nothing more than to exit the crypto space. But everyone who has ever done so, myself included, faced regret
I don't know that legions of the sexually confused, and awkward enthusiasts of rainbows will be the harbingers of a long term economic revolution. More likely, they're overlooking some facets of this new reality which are of upmost importance
There are only a few people on Twitter who have the intellectual depth to process this. I'm mostly typing into the wind
Or perhaps I'm wrong, and there will never again be a solar flare, emp weapon used, power outage, gov't mandated internet blackout, privacy destroying national spy agency, meddling central bank, or backdoored-from-the-factory cell-phone ever again
Cryptocurrencies fit in nicely with the work-from-home (do nothing) era which grows ever more popular by the day, and negative real interest rates levied by the gov't
In the modern attention economy, people's attention is spread too thin to think deeply about what they're doing. The massive influx into the failed #yam experiment is a great example https://cryptonews.com/news/multimillion-defi-yam-gets-rotten-as-bug-eats-its-market-cap-7413.htm
All forms of money require new buyers to cash out the old sellers
Substances which serve multiple purposes (jewelry) provide alternate entry points for buyers, enhancing exit liquidity for sellers
Substances which serve multiple purposes (jewelry) provide alternate entry points for buyers, enhancing exit liquidity for sellers
As growth stabilizes, cryptocurrencies will reach an equilibrium point at which point those people who are entering are simply swapping their money evenly with those exiting
The only incentive cryptocurrencies ever had (get rich quick) will be gone and buyers will cease to enter
The only incentive cryptocurrencies ever had (get rich quick) will be gone and buyers will cease to enter
The old sellers still holding the bag will leave will nothing
The problem with a currency who's primary use case is to get rich quick, is eventually the get rich quick aspect fades, like what we're currently seeing with #bitcoin
Once the crypto becomes saturated with get-rich-quickies, no one is getting-rich-quick anymore, and the illusion fades. The narrative shifts to "digital gold" without having any of the properties of a metallic object
When a crypto stops going up, it loses its use case. Nobody wants to put their money (time) into an intangible cyberdust unless they can cash out for something real, on the other side, eventually
#Bitcoin is still afloat, not because it is digital gold, but because people still believe it can deliver on the unspoken promise of getting rich, quick
is still afloat, not because it is digital gold, but because people still believe it can deliver on the unspoken promise of getting rich, quick
#Bitcoin can't serve as digital gold, because once it stops getting people rich quick, it will have no speculative value. Get rich quick is the only value cryptocurrencies ever had. This likely applies to all cryptos
can't serve as digital gold, because once it stops getting people rich quick, it will have no speculative value. Get rich quick is the only value cryptocurrencies ever had. This likely applies to all cryptos
Deep down, nobody actually wants cyberdust. They're simply using it as a medium to get more tangible goods in the future
People make the mistake of thinking tolder people or older generations are somehow dumber. That Peter Schiff, Jim Rogers and James Rickards are just old and don't understand
That the ancient egyptians must have been dumb because they didn't invent toaster ovens
That the ancient egyptians must have been dumb because they didn't invent toaster ovens
I haven't learned anything new or useful on Twitter in a while. Have met some great people over the years, however. But ultimately it becomes an unproductive time sink
When I scroll coinmarketcap, all I see is garbage
Garbage that idiots keep buying
People are still buying #Bitcoin, and it's still #1
The only way people will wake up to the stupidity of Bitcoin is through a massive unprecedented price crash. Otherwise they'll never wake up
Garbage that idiots keep buying
People are still buying #Bitcoin
, and it's still #1The only way people will wake up to the stupidity of Bitcoin is through a massive unprecedented price crash. Otherwise they'll never wake up
