Rony I. Pyrite
@pyrite
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This was a perverse distortion of incentives, and a key reason @GaryGensler must never be christened as a hero, even among crypto skeptics. Everything that happened in crypto was in part a response, part compliance part rebellion, to these pressures.
Over the last year, we have been entering a new order. Now, the most powerful people in the world are cheering on the idea of anyone creating tokens for anything, at any scale.
And so now is the time to talk about the difference between sugar-high short-term fun that is unwise to recommend to newbies, and long-term fulfillment and wealth-building. It is not about "fun is bad", it is about the equivalent of modern hyperaddictive cellphone games, versus chess or World of Warcraft.
Now is the time to talk about how large-scale political coins cross a further line: they are not just sources of fun, whose harm is contained to mistakes made by voluntary participants, they are vehicles for unlimited political bribery, including from foreign nation states.
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