1/ Will Republican voter suppression efforts be enough to block the tens of millions of Americans who have discovered that Trump and the Republicans don't give a damn about them >> per https://t.co/dw0Y01pwXG by Thom_Hartmann >>

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1/ Imagine that as soon as the referendum result the EU announced that it was looking forward to the end of free movement of UK citizens in the EU


2/ Imagine if the EU said finally all those retired Brits in the EU27 could go home

3/ Imagine if the EU said finally all those Brits in the EU could stop driving down wages, taking jobs and stop sending benefits back to the UK

4/ Imagine if the EU said it was looking to use UK citizens as “bargaining chips” to get a better trade deal

5/ Imagine if the EU told UK citizens in the EU27 that they could no longer rely on established legal rights and they would have to apply for a new status which they have to pay for for less rights

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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.


The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.

This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.

The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."

This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.