It’s a cycle: A crypto price bubble draws in a new wave of speculators making bad bets, then the market falls, as does sentiment. Criticism of crypto is healthy, but be wary of plain doom and gloom, writes davidzmorris.
, but this time, after crypto reached levels of public exposure it has never seen before, it’s Do Kwon. He’s going to be all over TV for months. Having such a living embodiment of egotism, venality, recklessness and stupidity standing in for “crypto” as a whole is going to make things measurably worse for the industry.
Manning’s evasion is a close cousin of the all-time great in this category, the argument for “blockchain, not crypto.” This is a meaningless concept because tokens with economic value are fundamental to the design of distributed public blockchains, at least for the moment. But rhetorically, “blockchain, not crypto” is meant to signal that one wants all the cool parts of blockchain tech without the financial volatility.
but nothing remotely resembling the weird transformative implications of public blockchains. It’s a rhetorical feint, meant to trick people who sway with the breeze of shifting sentiment and don’t actually understand crypto at all.Simply ignoring these craven contortionists is step one of thriving during a crypto winter. Another good move is to try and understand what happened.
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