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Rather a lot of people in tech wonder if crypto, or large parts of it, is an emperor with no clothes and don’t want to say so publicly. That’s not to say that it is, but there is a real reluctance to be publicly skeptical regardless of private sentiment.
"Crypto as a new kind of casino" has been working out exceptionally well. "Crypto as the future of payments and finance", on the other hand...
I tilt towards crypto skepticism, but the first round of dotcom fit that mold as well. Webvan, Kozmo, etc were just as vaporous. And 'million dollar webpage' gags feel a lot like NFTs.
Applying first-principle analysis to the early web and to crypto today yields two very different conclusions... just look at the fundamentals, not the surface BS.
Well said
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