The quote is from @trysty 

“Old habits die hard, so people shoot themselves in the foot all the time. The entire purpose of Cryptocurrencies has been hijacked and nobody seems to be the wiser.”

A similar quote from @Crypto-Eric

“And yet so many people rely on Coinbase or Binance or Kucoin or now the ETF providers … seems like people have chose to reimpose third parties rather than use it for peer-to-peer exchange.”

I understand the frustration, all the “crypto bros” were expecting “Mass Adoption” and utopia. Freedom from financial slavery. Or what ever was your favourite narrative that attracted you to “crypto” in the first place. Maybe you were inspired by early cypherpunks like:

• David Chaum, computer scientist, cryptographer, and inventor, eCash 1995
• Hal Finney, software engineer, received first BTC transaction
• Eric Hughes, mathematician, computer programmer, and co-founder of cypherpunk movement, author Cypherpunk Manifesto
• Timothy May, physicist, senior scientist at Intel, “progenitor of the crypto-anarchist movement”
• John Gilmore, computer scientist, founder of the Electronic Frontier Foundation (EFF) and the Cypherpunks mailing list

Mass adoption and the crypto utopia illusion

Sorry but that was just an illusion. Crypto’s mass adoption was never going to happen. The masses are just not interested in privacy or freedom of speech. They are only to happy to sell their souls for the illusion of convenience and security.

If you haven’t already, suggest you read “A Cypherpunk Manifesto”. Written by Eric Hughes in 1993. A founding document of the cypherpunk movement that coined the motto "Cypherpunks write code"

https://archive.org/details/anarchy_Cypherpunk_Manifesto/page/n2/mode/1up

So I reckon crypto has not been hijacked but the word has been.

Wall Street has conveniently changed the narrative allowing them to now adopt blockchain. So they control the payment rails, infrastructure and the rules. Once you control that, then you get to keep taking your cut. Best part they are using your money.

On this subject is another must read. Written by @MarkHelfman in 2019. Only 94 pages. “Bitcoin or Bust, Wall Streets Entry into Cryptocurrencies”. Describes Wall Streets playbook. While the names may have changed, the playbook hasn’t. Change the narrative once you have all your ducks lined up. Offer safe and regulated. And you get to call it “crypto” to boot. 

Which brings us to the Universal Law of Stupidity. Will finish that article one day soon, just in case you have no idea what it refers to. In the meantime……the blue-eyed Viking Princess keeps sending stuff to read on the subject. Thanking she stopped sending me stupid videos.

Feel free to argue the meanings of words in the comments. Appreciate you feeding the algorithm. 

DISCLAIMER: I promise no AI was harmed in the researching, editing and publishing of this. But lots of CO2 was produced, doing my bit to make planet earth green.

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