> A few self-serving white men (there are hardly any women or minorities in the blockchain universe) pretending to be messiahs for the world’s impoverished, marginalised and unbanked masses claim to have created billions of dollars of wealth out of nothing.
To be fair this spiel is almost the same message you hear out of the startup/VC industry. There is always a hustle when there is fast and easy money around and people wanting to get rich quick. That said there is also real opportunity there if you can see through the cruft, just like in the startup world.
Start-ups can at least deliver some tangible value at the end of the day. I'm still not sure what various cryptocoins deliver other than a get-rich-scheme.
Crypto systems are platforms for fraud and censorship resistant applications. There is value in that, the markets are just having a tough time figuring out how much.
To be fair this spiel is almost the same message you hear out of the startup/VC industry. There is always a hustle when there is fast and easy money around and people wanting to get rich quick. That said there is also real opportunity there if you can see through the cruft, just like in the startup world.