Something Went Wrong

“I suspect the core problem that has wended its way through the history of cryptocurrency is that the vast majority of people involved do not actually care what the thing they’re flocking to is. What they care about is that it has a graph, and that they get rich if the graph goes up, so they say whatever might make the graph go up.”

“I suspect the core problem that has wended its way through the history of cryptocurrency is that the vast majority of people involved do not actually care what the thing they’re flocking to is. What they care about is that it has a graph, and that they get rich if the graph goes up, so they say whatever might make the graph go up.”
https://eev.ee/blog/2025/07/03/the-rise-of-whatever/

“It doesn’t matter what the art is, or how the technology works, or what the tokens are attached to. It just has to be something you can convince other people to buy. The actual thing can be Whatever.

I think this adequately explains why the proliferation of these guys helped suck all the air out of Twitter. Tens of thousands of grifters lining every sidewalk, each one passionately hawking an indistinguishable Whatever that they don’t actually care about. Endless, endless fake enthusiasm from people all trying to convince each other to buy into their boilerplate box of nothing. Buy my thing! Haha no don’t worry about how much of it I own — let’s talk about how much of it you should own!”