> Isn't the whole point of crypto NOT to trust governments and centralized authorities?
Perhaps originally, but now it is simply a bunch of get-rich-quick schemes, or maybe more accurately wallstreetbets-style gambling. I.e. even if people know it's going to all go to shit, try to play the game long enough and get out before someone pulls out the Jenga piece below you.
Really sad how crypto devolved into a bunch of "wagmi" nonsense. It was originally meant to be a more serious counterweight to the excess of central bank monetary policies. Now it's just grifters and scammers.
What's ironic is that the meltdown of crypto and crypto culture came right when central bank excesses are at the peak - at least for the vast majority of people alive.
> What's ironic is that the meltdown of crypto and crypto culture came right when central bank excesses are at the peak - at least for the vast majority of people alive.
I don't understand. Central banks are finally raising rates after 2 decades of ultra-low rates. If anything, central bank excesses are well below their peak now.
Perhaps originally, but now it is simply a bunch of get-rich-quick schemes, or maybe more accurately wallstreetbets-style gambling. I.e. even if people know it's going to all go to shit, try to play the game long enough and get out before someone pulls out the Jenga piece below you.