Osaretin Victor Asemota@asemota
Nov 25, 2022
7 tweets
Initially, we thought crypto was going to replace money. Until greed and speculation ruined it all. If you ask me now, cryptocurrency will always be a secondary or niche currency. The type you get only when you are trying to do specific transactions or get from unique activities.
Yes, fiat is unfair but rug pulls and Ponzi schemes are also unfair. Idealism is not shared. What crypto has only proven is that humans are insanely selfish. That is what people feared most with fiat but Bitcoin didn't solve that. It led to clones that are now a bigger problem.
Proof of Work is not proof of uniqueness. It didn't prevent clones.
Stablecoins are however the best thing that came out of this mess. I have decided that my crypto activities from now will involve being paid in stablecoin which I convert to fiat immediately.
I have also left all centralized custodial exchanges. There is much more to life.
I also now understand what Zuck was trying to do with Libra. At least he was open and his openness about greed is what scared others away. We can't fault him for trying to do what nations have always done. He is the President of the largest online nation.
Decentralized finance is also another one of the great things that have come from crypto. It will grow together with stable coins into a more stable ecosystem. All of the speculation and derivatives will be left to idiots.
Olumide Adesina@TokunboAdesina
Nov 25 22
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Good ideas, carried to wretched excess, become bad ideas
Osaretin Victor Asemota
@asemota
🏴☠️| 🇬🇭 | 🇹🇬 | 🏴 | 🛸| "Nec audiendi qui solent dicere, vox populi, vox dei, quum tumultuositas vulgi semper insaniae proxima sit.”
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