“The only thing that really worried me was the ether. There is nothing in the world more helpless and reckless and depraved than a humanity in the breadths of an ether binge.” — Hunter S. Thompson, Fear and Loathing in Las Vegas
Everybody wants to believe they’re ameliorate “the worlds”, and what’s more, that they’re on the brink of a progressive transformation. And when you’re immersed in a whole cohort of such people, a entire crusade , as I was this week at the Ethereal Summit, a gathering for startups constructing decentralized apps atop the Ethereum blockchain … well, it’s hard-bitten not to get swept up in that belief.
This is as true-life of the “old world” of VC funding as it is of the “new world” of ICOs. People who are angry and sardonic about venture capitalists and the Silicon Valley ecosystem — and I know many — often don’t appreciate the fullest extent to which VCs genuinely speculate, in good faith, that what the hell is do meets the world an enormously better place, by fostering light-green photographs of innovation into a mighty forest of progress, and are genuinely baffled by the counter-narrative that they buttress pre-existing social stratification while mainly just helping the rich get richer.
The anti-crypto 1 counter-narratives are more varied. One is everything of this mystical Internet money is a giant scam or Ponzi scheme. Another is that it’s simply good for criminals and gunmen. A third is that the crypto 1 infinite is just a casino for plungers with no real underlying appraise. To those of us who understand information and communication technologies, and its potential, this type of reviews are fairly easily dismissed.
But even if, like me, you believe blockchains and cryptocurrencies are a fascinating technology with enormous potential, and you see in them a potential counterweight/ cure for most other technologies’ ongoing concentration of superpower in a handful of big business; even though, bit by bit, one by one, onetime skeptics are grudgingly beginning to admit that they may be good for some things after all —