I've been in mostly violent agreement with @smdiehl and others who call out cryptocurrency and its descendants for what they are—an end run around financial regulation at best, a massive fraud at worst. We all agree it makes no sense as a technology. But one thing worries me:https://twitter.com/smdiehl/status/1445795667826208770 …
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But this is also an indictment of the web. Why did we let it basically turn into TV? Where's the outlet for talented young people who want to turn the world upside down, but don't care to sign on to the giant scam that is cryptocurrency? We don't have a good answer for them.
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And part of it is definitely that everyone today carries an incredible computer in their pocket and... you can't do anything with it. My first computer program at age 8 made an IBM desktop write profanity in an infinite loop. I wouldn't begin to know how to do that on an iPhone.
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End of conversation
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I think it's more than just that. Lots of the enthusiasm around NFT projects is born more out of desire to bring greater suckers onboard than out of genuine excitement.
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I don't get what's rotten here: big web corps limiting innovation or slow blockchains? The former is a black box operated by private corps, the latter is fully transparent, entirely based on open source. Both have regulation issues. To me, only one can be considered rotten
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lol 