Feb. 4, 2022: Decentra-Lies 🤥⚔️
What does Decentralization Even Mean?
Despite a small recovery this morning, our present dystopian bearscape is starting to approximate the pits of the last bear market. Months of bleeding with no hope in sight. People turning against each other. Twitter starting getting more boring than reality *shudder*.
Now just imagine this feeling for years with no ending in sight. Imagine getting so depraved that if you see just one more boolish post promising hopium, it will break you. Still want to go all in on crypto?
Actually, last bear was even worse, because it’s still a ton of fun right now. If we are indeed in a prolonged bear market, it’s only going to get bleaker. No matter what happens, it’s a good time to make sure you’re enjoying yourself. If you’re not content, make changes to get things sustainable.
It’s also a great time to tackle the long-term strategic questions. In particular, we should wrestle with the question of decentralization and decide where this fits among our values.
With cash flows drying up, some projects are looking into KYC/AML markets, with others believing this is antithetical to cryptocurrency.
We’re also seeing debate about the pros and cons of Wormhole getting a 9 figure bailout after their exploit, along with questions of how this shapes our industry.
What do we stand for as a community? If you don’t want to struggle with Hegelian philosophy, or if you dislike theoretical physics, you’re advised to stop reading now.