If you filter out the noise and ignore the omnipresent hate, there’s still cool stuff there. The technology still works. The prevailing narrative doesn’t change that. But the problems were inevitable, for the simple reason that the world is full of pent up financial desperation, and crypto is an incredibly powerful tool for letting people do what they choose with money in a way that isn’t locked down by some payment provider or banking middleman. Borderless, permissionless. So naturally the main thing people went to do with it is competing to take each other’s money somewhere on the spectrum between gambling and theft. It’s non-crypto problems finding an outlet, and no amount of pushback from whatever non money crazed “scene” was out there could have done anything to stop that.
If you filter out the noise and ignore the omnipresent hate, there’s still cool stuff there. The technology still works. The prevailing narrative doesn’t change that. But the problems were inevitable, for the simple reason that the world is full of pent up financial desperation, and crypto is an incredibly powerful tool for letting people do what they choose with money in a way that isn’t locked down by some payment provider or banking middleman. Borderless, permissionless. So naturally the main thing people went to do with it is competing to take each other’s money somewhere on the spectrum between gambling and theft. It’s non-crypto problems finding an outlet, and no amount of pushback from whatever non money crazed “scene” was out there could have done anything to stop that.