Santiago - investor, Harry Potter fan, good person
Cryptocurrency is not perfect. To expect that such a situation will not arise again is nonsense. But the fundamental premise of having reliable systems governed by a predictable and transparent set of rules that no one can control has not gone away. The ability to own digital property rights is here to stay
Cryptocurrency has a long way to go to reach its full potential. It is important to remember that this is still very experimental - both technically and socio-economically. Encouragingly, the rate of experimentation is faster on open source systems (compared to closed ones).
Reflecting on the past years since I discovered crypto, it has been wonderful to see the growth of this industry. We have built trustless systems that work. It has become a trillion dollar industry. It has captivated the imagination of our generation of people from all walks of life.
The crypto community has never been afraid to challenge the status quo and think about how to build better systems that will treat everyone equally.
If you want to understand where the world is heading, then ask the young. Today, many are accumulating negative sentiment in cryptocurrencies. “I told you - this is a blah blah blah scam” I expect this criticism and skepticism to continue - this is expected from any revolutionary technology
Prices are one thing, but they don’t convey the enthusiasm in this community. We have not lost this spirit in past cycles and will not lose it in this one. Cryptocurrency has become the center of human capital because smart people want to work together in open source communities.
Deep structural transformations are taking place in the world. It’s not just cryptocurrencies that are being questioned. The Modern Monetary Theory experiment (ie printing money to solve problems) may be over (Japan may be the first big domino to fall). This transition will not be easy.
In short, cryptography offers a promising plan for recovering failed systems. We have a long way to go, but there are signs that we can create better systems for coordinating and transactions in a more efficient and fair way with cryptography. Time to build now!
And we agree. It is important to remember about the collapse of the dot-coms, about the tulip revolution, about how coca was removed from cola.
We’ll all survive. The main thing is not to lose heart.