Reposting a note comparing some aspects of the current crypto space to weed that I made on the other app:
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Ten years ago, to many weed represented freedom, and rebellion against sclerotic old order that denied self-sovereignty over our bodies. Then, weed became legalized, and "official".
On that day, I remember my personal interest in weed dropping by > 2x overnight.
And since then, public discourse is moving toward a balanced view of weed: it is much less harmful than alcohol and smoking, and has valuable medical uses, but it is also far from harmless, especially in its modern corporate hyper-optimized versions.
Crypto finance is similar. In the old order, @GaryGensler created a regime where tokens that give investors clear indication of what their rights are and where their revenue comes from is a "security", but obfuscated "governance tokens" are potentially in the clear.
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