where are all the smart people going?

[MysteriousWeeb420]

I'm repeating myself here, but the problem with crypto is that it’s based on a set of principles and values (around being your own bank, not trusting government, banks etc) that only a small minority of people share, but who also share a delusion that everyone in the world would adopt the same set of values if they just got some “education” about why crypto is so great.

The consequence is that crypto is designed to solve a set of problems that the majority aren’t really concerned about (banks and governments can’t be trusted not to debase and censor money, etc) in a way that introduces other issues (fraud, lack of protection, instability etc) that are a much bigger deal for the majority.

The human race evolved to favour hierarchical societies with leaders and trusted institutions, as that enabled us to upgrade from hunter/gatherer communities to the civilisations that exist today. It’s literally hardwired into our brains. When it comes to money, most people want to trust a bank or some other large organisation to take responsibility, and they want to trust their government to provide protection. I completely understood that those are values that this community does not share and actively opposes, but by the same token this community needs to understand that the values they have are not those that the majority share and cannot change simply by parroting “read the whitepaper”, “educate yourself” or whatever. The only thing that will change peoples values is something that directly affects them, like a complete global economic collapse (one much worse than any in history) that totally wipes out trust in institutions.

not all of the cryptospace is libtardian. although I will give you they are the loudest bunch, so it's easy to fool youself into thinking these views are a central tenet of the technology

in reality there is a lot of work being done alongside large institutions to create regulatory compliant tech that will benefit society. policymakers see the potential and are taking their time to draft regulation because they don't want to accidentally kill the space and stifle innovation. world governments are creating CBDCs which will coexist with crypto (crypto will never replace fiat currency)

the simple truth is that decentralised or semi-decentralised systems are fundamentally superior because a) they are more robust. server issues in a centralised system? entire network goes down and all services grind to a halt. same issue in a decentralised system, likely no one will even notice. b) they are more efficient. you don't rely on intermediaries filling out paperwork when everything is recorded automatically on an immutable public ledger. 

and removing the element of trust is a good thing too. obviously we're not talking the governmnet is trying to muder us with vaccines and put us in cages kinda skepticism. but in small systems, giving one party absolute power often result in abuse and corruption that has significant costs to society. these are things the government already wants to fix! 

I see it playing out exactly like the internet. at first it is relatively obscure and full of libtardians who distrust the government and use it for illegal purposes. it seems like a thorn in the government's side. but quickly the government realises it is a tool with huge potential for benefitting mankind and embraces it for their own ends