Dogecoin creator lays down a brutal thread about why Crypto is not what it appears to be.
This has become a full-blown battle of Narratives...
This has become a full-blown battle of Narratives...
https://twitter.com/ummjackson/status/1415353984617914370
It is important to recognize the risks we create when working from a Narrative that:
1. We agree with (Confirmation Bias)
2. We disagree with (Cognitive dissonance)
3. We are unaware we lack the skillset to assess the accuracy of (Dunning Kruger)
1. We agree with (Confirmation Bias)
2. We disagree with (Cognitive dissonance)
3. We are unaware we lack the skillset to assess the accuracy of (Dunning Kruger)
Crypto's usage by criminals - a feature not a bug - is attracting the wrong kind of attention:
"The Biden admin is cracking down on the use of cryptocurrencies in ransomware attacks through more rigorous tracing of proceeds paid to hackers"
bloomberg.com/news/articles/…
"The Biden admin is cracking down on the use of cryptocurrencies in ransomware attacks through more rigorous tracing of proceeds paid to hackers"
bloomberg.com/news/articles/…
One possible outcome is that these independent coins get replaced by centrally controlled digital currency.
"The idea of a government-backed virtual currency has support in policy circles, but Wall Street sees a threat to its consumer-finance dominion."
bloomberg.com/news/articles/…
"The idea of a government-backed virtual currency has support in policy circles, but Wall Street sees a threat to its consumer-finance dominion."
bloomberg.com/news/articles/…
Its an idea disliked by criminals and Wall Street alike:
"Imagine logging on to your own account with the U.S. Federal Reserve. With your laptop or phone, you could zap cash anywhere instantly. There’d be no middlemen, no fees, no waiting for deposits or payments to clear."
"Imagine logging on to your own account with the U.S. Federal Reserve. With your laptop or phone, you could zap cash anywhere instantly. There’d be no middlemen, no fees, no waiting for deposits or payments to clear."
The Crypto narrative's biggest risk isn't a government crackdown on ransomware criminals, but rather, the wholesale adoption of digital dollars by central banks.
Wil Crypto be a DeFi Libertarian Utopia, or (unironically) a mainstream govt-backed currency?
Narrative goes poof!
Wil Crypto be a DeFi Libertarian Utopia, or (unironically) a mainstream govt-backed currency?
Narrative goes poof!
We are starting to see data supporting the idea that Crypto prices are indeed manipulated, via @pkedrosky
Don't like Central Bank interventions? Come enjoy our price manipulation!
Don't like Central Bank interventions? Come enjoy our price manipulation!
https://twitter.com/pkedrosky/status/1415669095148621826
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