Cryptonomics

Crypto Is Officially Running on Zombieconomics

We can’t progress unless we fix these issues.

Image designed by the author.

It’s been a decade and a half, over 9,000+ cryptocurrencies, and Bitcoin remains the only one that has a modicum of a chance to compete with fiat currencies.

As I pen this, the participants of the crypto insurgence are walking on eggshells, fearing the demise of the next centralised exchange. I, on the sidelines, think we’re simply misguided. Not doomed. Partly due to human nature, and partly due to the lack of understanding.

Ergo, while the holders of this magical internet money bleed from the sharp spike downs, what better time to talk about the matters that handcuff it?

Lack of intrinsic value — Selling air will wear

• Buying JPEGs of monkeys with accessories and thinking it’s really worth millions of dollars?
• Play a game to earn money?
• Better to own a piece of land in the metaverse than in real life because it’s on the blockchain and you’ll have perpetual “ownership”? Tell me a better joke, lmao.

Crypto’s biggest deadweight is that we’re so congested with these turds that have zero real-world utility. So much so that rotten…