Crypto = Akin to Financial Pornography
Headline:
Crypto-Industry Littered With Illegitimate + Sleazy Financial Actors.
Q3 2022 hedge fund letters, conferences and more
It Ought To ALWAYS Be A Red Flag When Industry Leaders Cannot Precisely Describe Their Business In 25 Words Or Less…
As Was The Case With Enron’s Jeff Skilling + Kenneth Lay…A Little Over 20 Years Ago.
Now These Same Ambiguous Tactics Are Being Deployed By Crypto’s Sophomoric Evangelists.
**********************
The Cult-ish Crypto-Crowd Fancies Itself As An Alternative/Digital Currency…Powered By Legitimate Block-Chain Technology…In The Tech-World Of Distributed Finance.
Yet…At Best…The Crypto Market Is Nothing More Than A Frontier-ed Asset Born In Illegality…By Criminally Intended Computer Geeks…To Provide A Uniquely Un-Traceable Electronic Shield To Conceal Their Illicit Financial Dealings…Which…In Actuality…Is Rather Clever.
However…Crypto Has Now Evolved.
Recently…High Profile Celebrities [Brady + Curry + Damon + Kardashian] Were Recruited To Brilliantly Promote…What Increasingly Could/May Be Viewed As Electronic “Snake-Oil”…Despite Trusted Data Exchange Enabled By Block-Chain.
Unfortunately Block-Chain’s Substantial Digital Attributes Have Been Clouded + Reputationally Hijacked Into A Highly Volatile Monetary + Speculative Monster… aka Crypto…
By An Inexperienced + Unsavory Den Of Thieves.
**********************
Crypto’s Nerds Correctly Claim That Block-Chain Technology = Immutable.
Thus…Because Of Block-Chain’s Immutability…They Also Indicate That Crypto Is A “Reliable + Secure + Stable” Platform…
Indeed…The Platform Might Be Stable If The Crypto Players Orchestrating The Platform Were As “Reliable + Secure + Stable” As The Block-Chain Technology They Rely On…But Alas…They Are Not.
Because If They Were…Then Crypto Would Not Be So Easily Steal-able…
As Demonstrated By The 2014 Mt. Gox Theft + The Many Digital Billions Of Crypto-Assets/Tokens That Have Been Pilfered In The 8 Years Subsequent.
Basically…It Seems This Industry Is Being Navigated By Both Naive/Neophyte Computer-Heads + Sophisticated Electronic/Financial Culprits…Or A Combination Of Both…
Which Certainly Does Not Transmit To “Secure + Stable.”
Yet The Dodgy Crypto-Market Proliferates…On Increasingly Shaky Ground…Primarily Because Of That Perfect Marriage Between…
Greedy + Ignorant + Obtuse Speculators
+
Acute Digital/Electronic Thieves
**********************
Ironically…Theft-Ability Could Be Crypto’s Most “Reliably Un-Stable” Feature…
Clearly Reflecting The Massively Inexperienced + Questionable Players “Running The Show” Across Crypto…And Until Recently Very Much In The Shadows.
So The Slow Moving Crypto-Train-Wreck Continues…Most Recently Thanks To FTX’s
1. Amateur +
2. Bizarre +
3. Dubious +
4. Freakish “Leaders”…
Who Are Now Cutting + Running For Legal Cover Around The Globe…Further Soiling Crypto’s Already Dirty + Stained Reputation…
And Likely Cementing Crypto’s Circuitous + Eventual + Lengthy Demise Into The Financial Market Wasteland…As The Industry’s Aggregate Market Capitalization Has Already Tanked 73%…In Just A Little Over 12 Months.
**********************
However There Is A Great Paradoxical Twist To Crypto’s Inevitable Financial Atrophy…
That Is…In Judicious Commercial + Professional Hands…Block-Chain Survives + Thrives…As Its Applications Are Extremely Broad + Deep.
Article by Global/Slant.