polynya on Warpcast

polynya pfp

Half a year on from my final and most hated blog post, have things changed? Unfortunately not, crypto remains among the most morally bankrupt industries, and far and away the worst I've personally participated in. Most people in this industry are perpetually in denial, with negligible effort to change things for a better culture. Yes, vile degeneracy has been temporarily muted relative to March 2024, but this is only because the shitcoins are down 99% since then. I see no evidence that any lesson has been learned, and the same pandemonium is very likely to repeat. Obviously, I still highly respect the 0.1% of this industry that's actually net positive for humanity, and needless to say, all of this is just my personal opinion. I still hope, one day, at least some of the remaining 99.9% of the industry will share those values.

10 replies

64 recasts

350 reactions

mactar pfp

“Has been temporarily muted” - guessing you missed the breakpoint/token vids on CT lol

1 reply

0 recast

5 reactions

Pete Horne pfp

If you think it’s bad now, you should have been there at the start. It’s just technology innovation. AI isn’t just used for art and the dark web is the same as the tech used to send cat memes. If crypto is truly a tech innovation it will find its way to good and evil. Pick what you look at.

0 reply

0 recast

4 reactions

matthewb.eth pfp

must be nice to have the comfort to sneer at the “vile degeneracy” of gambling instead of participating

1 reply

0 recast

0 reaction

Josh | The Blockchain Socialist pfp

Josh | The Blockchain Socialist

Totally agree. That's why we're building an alternative at Breadchain.xyz

0 reply

0 recast

6 reactions

LucentMonk 🍖***🎩 pfp

LucentMonk 🍖***🎩

shit. I had an answer but it was too simple once I re-read it. I think you are being overcynical, but also make a very good point. Like the news cycle, or gossip, the bad and crazy gets elevated even though it is (hopefully at least) the small minority. -recovering toxic optimist

0 reply

0 recast

3 reactions

Richard Carback pfp

Richard Carback

This resonates, I had hoped scams would die out as early as before the pandemic but at this point it’s resentment with only a glimmer of hope. The scams suck up all the air (and funds) from the folks trying to build.

0 reply

0 recast

1 reaction

whimsi pfp

i’d say the average age of a person in crypto got younger younger people tend to want to be edgier hence the increase in racism and general vitriol i’d say crypto hasn’t changed too much but everything bad has become more apparent and out in the open - which is kinda true about the state of the real world too where politicians get caught out nowadays with no real repercussions - this is just the product of the environment and times we live in crypto is just a hyperbolic caricature of the real world, made up of people who love to limit test

1 reply

0 recast

1 reaction

Lunar Rage pfp

I read your post, and I think many of the points you made about the current state of crypto are fair. That being said, I’m curious—if you’re familiar with the small percentage of projects that have real potential, have you considered highlighting those? I’ve noticed that positive and innovative projects don’t always get the attention they deserve, but I still find it valuable to explore the positive sides because I believe they can outweigh the short-term challenges.

0 reply

0 recast

0 reaction

a1z2 💫 pfp

“In the industry” = retail? “In the industry” = builders / VCs? Different motivations. Weirdly enough, I think the casino gets people in the door, and some >0% end up staying for “crypto values”.

0 reply

0 recast

0 reaction

Kat 🎩🔥 pfp

Some are here to do better, but companies can’t get funding get funding without token warrents. Protocols aren’t open sourced. And users on this app can tell scream that a project is a rug and have their comments be hidden in the replies. For some reason, we’re still here, and we’re still trying to make things better. 💜

0 reply

0 recast

0 reaction