Member-only story
Crypto Can Be The Future AND Be Stupid
Why not both?
I hear proponents of crypto speak with unbridled optimism that borders on psychotic naïveté. They think if they think anything bad about crypto, line won’t go up. Crypto is the future.
And there are the Scrooges who think crypto is dumb and a waste of time. The exchanges are changing too wildly to have set prices in anything. There is no practical use.
And take Web 3.0. The gas fees make this whole thing fall apart. Would you pay $50 for a $10 Uber ride to cover the Ethereum transaction fee? Not if you’re a normal human.
My response is: They’re both right. It’s the future. And it’s also dumb.
Crypto is not a great equalizer. Some people will get rich, but the status quo will be the same. Eventually, moderation will be involved, which will sort of defeat the purpose of why it was created to begin with.
Everything will calm down. Your favorite teams will have NFTs that you can buy, but there will be a USD option so you can pay in the money you’re used to. You’ll get bonuses for having it just like being in any other club. Some will be more elite than others.
There will be some kind of moderating body…since Web 3.0 moderating itself is a conflict of interest (they won’t want to eliminate posters or spammers…
