… the founding ideas are promising, and something I dream of.
Before I start, just a little bit of background on me so you can understand how biased I am (😅): I’m a 16 years old programmer and I won a few crypto hackathon/funding rounds and I made a lot of friends in the field. It allowed me to get quite a bit of ETH/XMR along the way!
I see cryptocurrencies getting a lot of hate, rightly so for the number of scams, shitcoins, NFTs bullshit, “governance”, DAOs and all those often useless & snob terms.
However the founding ideas of decentralisation and freedom with your money are very appealing to me. Smart contracts are really interesting for creating your own banking operation and tokens can represent anything! It’s a world of possibilities to play with, and you get to build something useful for people!
I’d just like to add a bit of nuance tho: I see a lot of apps being built and what’s really making me laugh is the lack of open-source, decentralisation and auditing on privacy. Granted, there is a lot of fake promises, but it’s like everything, you have to find the talented people to follow.
I find it fascinating to build unstoppable, decentralised, user-first apps. I just hope that web3 stays true to its founding principles.
Hope it was interesting, tell me what you think!
EDIT: title+typos+the game is not comfortably played in Act 2
What always got me was that in these bitcoin bros were always like: yeah, no more big banks, i want to use my bitcoins like money.
While at the same time go: haha some idiot bought a pizza with bitcoin which would now be worth 40k dollars now, what a dork.
And everyone goes, you need to hold, i’m gonna hold are you all gonna hold? We’re all holding right? Btw look at this cool billionaire selling his bitcoin at the right time, i wish i was him.
How did they never seen that they are all just people waiting to fuck over some other people. Bot a pyramid scheme tho
Have to correct you there:
Monopoly™ money/crypto are a Ponzi scheme: their value depends on the next people who get sucked into the scheme, it can both decrease (inflation) or increase (deflation, increasing interest rates). It’s important to know when to exit a Ponzi scheme before it collapses.
NFT Apes, Avatars, and other collectibles, are a pyramid scheme: the initial creator gets a cut from every successive transaction. Creators never need to exit the scheme, they’ll always get more and more, even if the item’s value tanks.