Thread by @mor10

Lot of talk of #TheMerge today and there's a good chance you want to know what it is. Here's my no-nonsense zero Crypto Kool-Aid explanation of how #Ethereum is evolving. #web3
tiktok.com/@mor10web/vide…

#crypto people and companies out today saying #TheMerge solves all the problems with crypto and #web3 as if PoW was the main issue. Which is nonsense. The main issue is this is vision of the future where every interaction becomes a financialized transaction.

The lie that crypto and web3 will somehow take power away from banks and governments and corporations and give it to the people is a lie. Crypto and web3 do none of those things. It removes trust layers and the ability to regulate actors and protect users.

Crypto and web3 are the utopian fever dreams of privileged white men who don't like it when governments tell them they have to contribute to society. It's the vehicle the ultra wealthy use to predate on historically marginalized and excluded groups for profit.

Everything about this vision is antithetic to bringing power back to the people: In crypto and web3, money and only money is power, there is no accountability, identity becomes a financialized asset, moderation impossible, and miners and forgers decide what is true.

Crypto and web3 is a political movement attempting to shift power from democratically elected governments to VC-funded technologists and give them full power to define what the future is for us all.

It's a narrowing down of what @monikabielskyte once called "possibility space" to a thin line leading to a future where libertarian techno utopians hold all wealth and power while the rest of us battle for an ownership stake in our brand loyalty towards crypto tokens.

This shit isn't the future; it's the end of everything we value, replaced by a blockchain-based hellscape ruled by privileged white dudes who think tyrannical oppression is being told their sexist jokes aren't funny.