On Coinbase CEO Brian Armstrong and what he calls “crypto’s destiny”: “While pitching crypto as a tool for economic opportunity to the rubes in Congress, he harbors radical ideas about crypto’s true purpose. He believes the United States is in “slow decline” and embraces the Network State, a cultish tech movement that ultimately seeks to end countries as we know them—to decentralize governance in the same way that crypto seeks to decentralize finance.”
technanonymous on
Ya… screw these guys. Sounds like something from a cyberpunk novel like Snow crash from Neal Stephenson.
No, the world is not going to degrade into digital nation states. No, crypto is not going to kill off centralized fiat currencies. crypto is not anything of value beyond what the market assigns it. If anything, it’s much weaker than fiat currency. It feels like a Ponzi scheme. I do know some people who became very wealthy with crypto, but that doesn’t mean anything for the market. Regulation is kicking in and will likely expand. Until generic citizens can use it like today’s currencies, it will remain a niche.
It’s funny how committed the decentralization folks are. Not everything form SciFi will come true.
FairyPenguinz on
Is this guy like Peter Thiel? The idea of the Network State sounds like Próspera and Praxis and the NYC Crypto guys who hang out and are trying to make those things happen.
Also, didn’t Thiel back JD Vance?
It would be interesting ro see how these guys feel about the guys who have been in the game longer, like Koch and Mercer and Prager.
3 Comments
On Coinbase CEO Brian Armstrong and what he calls “crypto’s destiny”: “While pitching crypto as a tool for economic opportunity to the rubes in Congress, he harbors radical ideas about crypto’s true purpose. He believes the United States is in “slow decline” and embraces the Network State, a cultish tech movement that ultimately seeks to end countries as we know them—to decentralize governance in the same way that crypto seeks to decentralize finance.”
Ya… screw these guys. Sounds like something from a cyberpunk novel like Snow crash from Neal Stephenson.
No, the world is not going to degrade into digital nation states. No, crypto is not going to kill off centralized fiat currencies. crypto is not anything of value beyond what the market assigns it. If anything, it’s much weaker than fiat currency. It feels like a Ponzi scheme. I do know some people who became very wealthy with crypto, but that doesn’t mean anything for the market. Regulation is kicking in and will likely expand. Until generic citizens can use it like today’s currencies, it will remain a niche.
It’s funny how committed the decentralization folks are. Not everything form SciFi will come true.
Is this guy like Peter Thiel? The idea of the Network State sounds like Próspera and Praxis and the NYC Crypto guys who hang out and are trying to make those things happen.
Also, didn’t Thiel back JD Vance?
It would be interesting ro see how these guys feel about the guys who have been in the game longer, like Koch and Mercer and Prager.