I have been in crypto since 2018 and I will list what's wrong with #crypto in #macro sense and how to fix them in this thread to start a decent, honest conversation. I wish to offend none. Here I go!
#1 Crypto is a hedge against #wallstreet #china - false. If #FED or #Xi tinkers with their toys, #crypto hurts bad! Crypto is massively dependent on #Hedgefunds and Wall Street & Chinese actions. So this is a fail for crypto's primary object -- freedom!
#2 BTC is controlled by big money and $USDT - as long as BTC maxis are in charge and $USDT is the safe refuge, crypto is broken! Crypto fails the second objective -- decentralization from monopolistic actions.
#3 Until most crypto is paired with algo stable coins like $UST, the #umbilicalcord to $USD will remain. Crypto fails another major objective - DUI -- driving under the influence of imperialistic financial systems.
Proposed solutions -- easy to say but will require the village to make happen:
1. Use algorithmic stable coins
Use $UST and similar algorithmic stable coins instead of $USDT. If most crypto doesn't use $USDT, we would have a free but sharded crypto-economy until mass adoption
1. Use algorithmic stable coins
Use $UST and similar algorithmic stable coins instead of $USDT. If most crypto doesn't use $USDT, we would have a free but sharded crypto-economy until mass adoption
2. Create crypto-backed real-world assets to bring real income to crypto projects. Not just VC-money incentivized Defi games that are circular or bleed unsophisticated retail investors
• • •
Missing some Tweet in this thread? You can try to
force a refresh
