A commenter gave a response to my article with the sarcastic title
Invest in the First Ever SEC Registered Security Token by saying
Mass adoption wouldn’t happen without some form of “legitimacy” (take the word loosely) and the traditional system (PayPal, SEC, all of them) dipping their hands in crypto and blockchain even in the smallest ways confers this legitimacy and encourages “the people” to even want to consider taking a lesson on the right and wrong way of doing crypto.
And this:
Eventually, remember all these our decentralization mantras will FOLD up under a global dictator.
This is a poster who has some decent content, so I'm going to try not to just cuss and yell. But I can't tell you how much I disagree with the first part of the statement. The second part is another story.
The Horrible Shill Elliotrades and Stimulus
Someone I consider the worst shill in the world, Elliotrades, went on a Q3 2020-long rant about how the crypto markets wouldn't pump without stimulus from the American government. His arrogant and unscientific viewpoint completely minimized the importance of the Asian and African markets. More importantly, it completely spayed and neutered the crypto industry of any self-created value. The human capital and the dapps in our space actually have value. Real value. All of the intellectual capital and innovations in the blockchain space far outpace the value of any stimulus the government could create.
The fact that Elliotrades would base his bullish view of the space completely and utterly on financing from tradfi, a view that flies in the face of all previous evidence — no stimulus between 2013-2017 — is an analytical and moral disaster. First of all, the guy can't snapshot a market to save his fat mom's life. Second, he just wants his bags to pump quickly, not just pump, and that requires free money from a loose government. Success in the space does not.
The commenter has a similar view, which is just as analytically problematic and also peppers in a cynicism that must die.
Legitimacy from Crooks
First of all, it just chafes my shorts that anyone would equate any form of legitimacy with the lying pieces of trash in tradfi. It's hilarious to me when these shills celebrate a JP Morgan report for a $300k bitcoin by 2023 or a new buy-in from some bank that used to traffic drug money for the Mexican cartel. You celebrate this? Even more, you view these reports from these crooks — who don't even understand bitcoin — as legitimate?
How two-faced can you be?
This analytical dilemma leads into the moral dilemma that must be solved if crypto is to create a new world for us. Because it's not the tech that's lagging, it's the attitude of the folks in crypto that's lagging. If you still think, after all of the evidence to the contrary, that we in any way need "legitimacy" for mass adoption, that's a psychological dependence on the system that is informing your intellectual missteps.
If you smooth out the mania from 2017, adoption in the crypto space has been on a steady march up. There's no stopping this. I guess you guys think those retarded eToro commercials with Alec Baldwin about bitcoin are somehow necessary to bring in Cletus and Uncle Dumbass. That is an unbearably cynical view of humanity, one that I cannot share.
Stop doing politics based on what you think everyone else is going to do. Take an active role and you'll see that people do what they are encouraged to do.
Education with human beings happens slowly. That's why we have 12 years of grammar school and more school after that. I guess you folks think that if your dumb Uncle Cletus can't understand blockchain from your 5-minute half-cocked explanation, that means the crooks at JP Morgan have to sign off on it. No, you just need to explain it better to your relatives and friends. You need to show your gains from the defi apps. Let them see you convert a shitcoin to BTC, then to USDT, then to money in your bank account. That'll get them straight faster than any report from a fucking tradfi crook.
No, the attitude that says tradfi legitimacy is necessary for mainstream adoption is one of laziness. You don't want to do the work yourselves. And if you don't, then you deserve the centralized crypto world that you get. Which leads me to the second point.
Crypto and the Global Dictator
I actually believe in and agree with the second part of the statement the commenter made, that most of the crypto world will eventually be centralized and just as bad as the financial world we have today. But it won't be my part of that world.
But the only reason crypto's going to suck is because the commenter believes the first part of the comment.
The crooks will only be able to take over because the people who should be taking legitimacy from the crooks still think the crooks have a monopoly on legitimacy. As for me, I've never felt more legit in my whole life. I'm starting on my journey to help set up microeconomies for people around the world using tools like Axie Infinity. I don't need a fucking government or a bank for that one bit. And nobody's taking this power from me. I will protect these economies with all of the ingenuity and energy I have.
Sucks to be you if you still think you have no chance at real freedom, or worse, you never wanted it. You're missing out on the chance of a lifetime. Have fun bowing to your global dictator.
