
Dear Crypto, You’re Being Played by Wall Street - ch4ch4
https://medium.com/@JesseLivermore/dear-crypto-youre-being-played-by-wall-street-35a1117ef859
======
garrettr_
For the love of god, please stop calling all cryptocurrencies and
cryptocurrency-related projects "crypto."

~~~
bdcravens
Reminds me of folks referring to a desktop computer tower as "the cpu" or "the
hard drive".

------
sbenitoj
I think that if this is true, it'll ultimately be a good thing for Bitcoin --
increase awareness, incentive more miners around the world, etc. The crash
would hurt, but it would be temporary -- digital scarcity is here to stay, and
network effects matter. This isn't my ideal scenario for spreading awareness,
I hate to see anyone lose money, but it's better than central banks continuing
to dominate the worlds' monetary systems for the rest of eternity (which isn't
going to happen!)

~~~
burnte
Indeed. Busts help shake out weak players and snake oil salesmen. Bad
companies go belly up, releasing proven employees and resources. Government
and business coexist in an ecosystem, a balance is necessary between the two
or one grows too powerful, choking the ecosystem. Booms and busts are natural
weather cycles. Busts are like a hard winter, they weed out the entities
without the necessary fitness to survive.

