Thread by @0xMert_

it's clear at this point that there are 3 classes of crypto

i) commercial crypto

ii) casino crypto

iii) cypherpunk crypto

commercial crypto is RWAs, stablecoins, institutions

things that use crypto for its function in increasing the efficiency of finance

faster payments, faster settlement, better composability, and a universal API for money

this is mostly a positive development, but it does necessarily ignore most of the core ideals of why crypto was started

there are a lot of relatively invisible chokepoints of control here that most people have not woken up to

i.e., that 95% of stablecoins can be frozen or single sequencer censorship

casino crypto is mostly things that are borderline regulatory arbitrage and are heavily premised on speculation

too wild for institutions, but still not necessarily native to crypto ideals

most of the aim here seems to be making money

I don't have anything against this as I believe people should do whatever they do without harming others, but it's not something I'm personally interested in

the final, least prevalent and almost extinct class of crypto is the cypherpunk class

this is ironic as the cypherpunk class is responsible for starting the entire industry as well as underlying its most important set of functionality

satoshi was a cypherpunk

cypherpunks use cryptography and code to build systems of freedom

freedom from state overreach, freedom of speech, and the right to transact

this group gets confused for what is actually criminal behaviour like breaking the law or buying janky ass drugs on the darknet which does nothing but cheapen the ideals of liberty for some false virtual mental dopamine hit of being an edgelord

cypherpunks are libertarians and believe in free markets and understand that autonomous systems that can't be messed with are the only way to achieve this

the commercial and casino classes of crypto have had all the recent spotlight

but crypto without the cypherpunks is not crypto

I believe most of this has been a messaging, education, and storytelling problem

we are going to fix this and we are going to make crypto cypherpunk again

you are already seeing the ideals live within systems like zcash, but soon it will enflame everywhere

cypher/acc

this might also be a three-legged stool thing

where you need all three for "crypto" to work

I do fear that most chains have fixated heavily on the casino and commerical side and have neglected the cypherpunk side

I don't have influence over other chains, but I do know I can make change on Solana

so we will make Solana much more cypherpunk going forward