You are viewing a single comment's thread from:
RE: Has the cryptospace become depressing?
Hear, hear! It looks like crypto currencies are sucumbing to their own success. The profit hunters are mostly not aware of the higher goals sought after by the initial proponents of crypto currency. The crypto space seems to have been filled with those how value quick (financial) gains over long term revolutionary restructuring of society as a whole. However don’t be fooled by the power of the masses. As even those with non purist libertarian ideas, can be part of a larger reinvention of social structures without full sentience thereof 😁.
Let’s hope the contemporary indulgence in crypto currencies will eventually lead to a wave of enlightenment.
Don't let speculators and profit seekers depress you friend! They are a a necessary part of the environment and essential for growth. The only reason crypto has gained the traction it has is because of the eye watering profits some have achieved from this sphere, often accidentally. This is healthy, and I'm certain, as the field matures, volatility in the markets will decrease and this is when the investors will be rewarded in humanitarian and monetary terms. We need the speculators to crash the exchanges, so that upgrades can be made, clog the networks - so we know how to scale efficiently. Think of the profiteers and speculators are essentially battle testing the entire sphere as a whole. If you look deep, you'll find that even btc gets is value from two avenues (i) utility and (ii) speculation. Todays, the main use of btc seems to be speculation, and that's perfectly all right, 'coz use is use. It's a bit like a snake eating it's own tail. An oroboris. Every yin needs it's yang. So yes, you're absolutely right ' As even those with non purist libertarian ideas, can be part of a larger reinvention of social structures without full sentience thereof'!
I entirely agree with you. The profits are also bringing in a lot of new money that is funding crypto projects.
But nonetheless, I find it depressing to see that very few try to understand Blockchain technology and to understand how disruptive it is.