Bitcoin Is Dead: Everything You Need to Know During This Crash
Nobody’s laughing now
Published in
4 min readJun 22, 2021
Greed killed cryptocurrency.
Greed, hedonism, and this banal sense of wanting to sound smart. What’s a good word for that? Oh yeah — stupidity.
Stupidity killed crypto.
I’m fresh off of Miami, a.k.a. the crypto capital of the world; and during my stay there I found all the problems that likely led to this (potential) bear market.
- Scammers: I saw plenty of advertisements promising Bitcoin-bought yachts and hype-driven propaganda. It was sad. I also kept reading about fake hardware wallets that wire your money to Nigerian princes.
- Hedonism/Materialism: As Charles Hoskinson pointed out in a recent Lex Fridman interview, “Everything is so commercial. Half of the vendors at the Bitcoin conference wear watches that cost half a million dollars covered in diamonds.” Materialism killed crypto.
- Sesquipedalianism: Ironically, this is the word for trying to sound smart. The crypto community is full of sesquipedalianists. They use buzz words, laugh at bad jokes, and make lofty, imminently mockable claims about the future of Bitcoin.
