The Daily Gwei - Perpetually Wrong - The Daily Gwei #441
Perpetually Wrong - The Daily Gwei #441The crypto haters and detractors have been wrong since day 1.Since the earliest days of Bitcoin there have been staunch detractors and haters of the entire crypto ecosystem. These people call crypto a scam, say that it’s only used for criminal activities, and truly believe that it’s all a big bubble that’s going to $0. Now, imagine how these people feel after seeing the crypto ecosystem continue to grow and defy their expectations time and time again - all while they sit on the sidelines missing out on the entire thing. Honestly, the more bad takes I read about crypto, the more convinced I become that people are mostly anti-crypto because they didn't get rich from it
Imagine missing out on the greatest wealth transfer in history because you thought it was a scam
It's gotta sting Instead of admitting they were wrong and joining the party, these people will double down on their hate for crypto and continue to miss out on the opportunities (and money) that this ecosystem brings. Of course, these same people will cheer when the market goes bearish for a while and they’ll do victory laps (with some even “dancing on the graves” of investors who lost out). Now imagine how these people feel watching the prices of assets like ETH and BTC continue to bounce back from 80%+ drops in price defying all of their celebrations. I think another important aspect to all of this is that this extends far beyond just crypto. Over the last few years the middle class in western societies has been shrinking and people are generally doing it really tough - especially over the last 2 or so years. Now imagine how these people feel when they’re working long hours at shitty jobs for measly pay just to make ends meet while random 20 somethings are getting ultra rich from NFTs - the resentment is totally understandable in this case. But again, instead of taking the more positive approach of getting involved with crypto, people will turn to rejecting it and even cheering for its demise. What I find particularly weird about the people who cheer for crypto’s demise is that they are essentially cheering for people to lose their jobs/livelihoods, their money, their sense of being - all because of some misguided notion that crypto is “unfair” or an outright scam. Though I would assume that these people don’t view it from this lens - all they’re seeing is what the mainstream media tells them which is usually headlines about some big crypto scam or whatever the markets are doing on any given week. All in all, the crypto ecosystem is so powerful because it truly gives anyone with an internet connection and a smartphone an opportunity to be involved. It doesn’t matter if you’re poor or rich, doxxed or anon, technical or non-technical - there is a home somewhere for you in the crypto ecosystem. But this home doesn’t just fall into your lap - you need to get involved and search for it - and everyone that I know who has done this has completely changed their lives. Have a great weekend everyone, Enjoyed today’s piece? I send out a fresh one every week day - be sure to subscribe to receive it in your inbox! Join the Daily Gwei EcosystemAll information presented above is for educational purposes only and should not be taken as investment advice. If you liked this post from The Daily Gwei, why not share it? |
Older messages
High-Quality Research - The Daily Gwei #440
Thursday, February 17, 2022
The best and brightest minds live in Ethereum.
The Perpetual Buyer - The Daily Gwei #439
Wednesday, February 16, 2022
There will always be a buyer of last resort for ETH.
The Modular Era - The Daily Gwei #438
Tuesday, February 15, 2022
Let a thousand execution layers bloom.
Quantifying Adoption - The Daily Gwei #434
Wednesday, February 9, 2022
Contrary to popular belief, there aren't that many actual crypto users.
The Front Door - The Daily Gwei #433
Tuesday, February 8, 2022
The next mega-unicorns are crypto wallets and interfaces.
You Might Also Like
SEC calls Ripple’s proposed stablecoin an ‘unregistered crypto asset’
Wednesday, May 8, 2024
Ripple's CLO Stuary Alderoty said the SEC filing was baseless. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Integrate BTC, cooperate with Pendle and MakerDAO Can Ethena become a new generation of stablecoin?
Wednesday, May 8, 2024
Author: defioasis By holding LST and an equivalent amount of perpetual contract short positions, Ethena has created a delta-neutral CDP, pioneering a new chapter in synthetic dollars . The yield on
DeFi & L1L2 Weekly - 🎉 Crypto.com Reaches 100M Users, BlackRock’s BUIDL Becomes Largest Tokenised Treasury Fund
Wednesday, May 8, 2024
Crypto.com hits new milestone with 100 million global users. BlackRock's BUIDL is now the largest tokenised treasury fund. Ethereum devs propose EIP-7702 to enhance externally owned accounts. ͏ ͏ ͏
DeFi & L1L2 Weekly - 🎉 Crypto.com Reaches 100M Users, BlackRock’s BUIDL Becomes Largest Tokenised Treasury Fund
Wednesday, May 8, 2024
Crypto.com hits new milestone with 100 million global users. BlackRock's BUIDL is now the largest tokenised treasury fund. Ethereum devs propose EIP-7702 to enhance externally owned accounts. ͏ ͏ ͏
Holy Grail! We’re live with a $100k prize pool 🏆
Tuesday, May 7, 2024
Swap, borrow, and stake to earn yield and get a chance to win a slice of the massive prize pool. Flipside Crypto Holy Grail! 🏆 Aptos Grail Tournament with $100k in prizes starts today! Keep doing what
US Bitcoin ETFs see record outflows as Hong Kong counterparts thrive
Tuesday, May 7, 2024
Hong Kong spot Bitcoin and Ethereum ETFs recorded significant inflows of more than $300 million last week. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
The Usage & Evolution of Decentralized Exchanges (DEX’s)
Tuesday, May 7, 2024
Checking in on liquidity pools, trading volumes and adoption across Ethereum DEX's ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
What is Based Rollup, and How Does it Inherit Ethereum's Liveness?
Tuesday, May 7, 2024
By 0XNATALIE, Researcher at @ChainFeedsxyz Source: With the completion of the Cancun upgrade and the reduction of L2 gas fees, the market's focus has once again shifted to L2. There are currently
Bitcoin network celebrates 1 billion transactions as a Satoshi-era wallet awakens
Monday, May 6, 2024
Bitcoin's 1 billion transactions is over a decade faster than Visa. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Crypto Market Pulse Weekly – 💸 HK Spot Bitcoin ETFs Saw ~$250M Inflows in 3 Days
Monday, May 6, 2024
Hong Kong Spot Bitcoin ETFs saw US$250M net inflows in 3 days. Morgan Stanley filed with the US SEC to permit exposure to Bitcoin ETFs. Australia is reportedly considering the launch of Bitcoin ETFs. ͏