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Renatov 🎩 Ⓜ️
@renatov.eth
WHAT'S HAPPENED WITH CRYPTO REVOLUTION? An interesting article from Zeus on where the original revolutionary idea of cryptocurrencies disappeared to and why we should bring it back into the spotlight. https://x.com/ohmzeus/status/1916190873425219735 Cryptocurrencies were originally conceived as a path to financial sovereignty — money without the control of governments and corporations. It was a story about freedom, not just technology. Over time, the focus shifted: instead of creating an alternative financial system, efforts went into integrating it into the existing one. Blockchain simply became a more efficient infrastructure for traditional money. How did it all change? Bitcoin initially offered a digital currency outside the control of institutions. However, the BTC token had only basic monetary properties. The rise in price overshadowed the work on its development as real money. $BTC $ETH 🧵 👇
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Renatov 🎩 Ⓜ️
@renatov.eth
2/ 🧵 Ethereum followed the same path: a technological platform, yes, but the ETH token remained an asset without a full-fledged monetary architecture. The industry has bet on technical progress: speed, scalability, fees, but forgot about the main thing - money. When DeFi applications appeared, it turned out that unstable tokens are not suitable for stable financial activity. The solution was stablecoins - essentially digital versions of existing currencies. This was a capitulation: instead of an alternative economy - a new infrastructure for the old one. Even the "success" of Bitcoin is not manifested in revolution, but in integration through ETFs and corporate balance sheets.
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Renatov 🎩 Ⓜ️
@renatov.eth
3/ 🧵 Where is everything going and what needs to be changed? The author believes that a system is currently being formed where: • Blockchain is just an improved rail for traditional finance; • Stablecoins from banks are becoming the main digital currencies; • Control over finance remains with large institutions. Tokens without a monetary function lose the ability to hold value. When the value is determined only by the transaction fee, it tends to zero. This is already evident in many networks: increasing efficiency reduces the profitability for token holders. Ethereum shows this problem especially clearly: the network is growing, but the value of the token is becoming increasingly difficult to maintain.
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Renatov 🎩 Ⓜ️
@renatov.eth
4/ 🧵 Technology alone will not create an alternative. Tokens are needed that are built as full-fledged monetary systems that can: • Regulate supply to demand; • Ensure stability in crises; • Form internal credit markets; • Give users access to liquidity without having to sell assets; • Maintain transparency and self-regulation. Without this, any crypto economy will depend on traditional currencies and systems. Results Cryptocurrency initially promised more than just accelerating bank transfers. The creation of a real financial alternative is possible only through the recognition of the main task: not just improving infrastructure, but building new money. The window of opportunity is still open. But it will not be open forever.
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