So crypto built a lobby by permeating social networks. Those who owned it effectively received a kickback from promoting it to their peers and were heavily incentivized to silence dissent. On HN I remember Sam Altman promoting a ridiculous concept of a sphere that would scan a hash from your iris and then give you a shitcoin (worthless hyped token) in return. This shitcoin would, claimed ‘worldcoin’ be humanities future currency. Everyone called bullshit but HN censored the dissent where twitter did not - and that is valuable proof of the mechanism in play. It was a cash grab plain and simple.

The key to understanding cryptomania lies in the correct definition of scarcity. What, exactly, is scarce about cryptocurrency? Because even though the math guarantees a finite number of bitcoins, since almost anyone could in 20 minutes create a shitcoin and hype it on social media, and then exchange it for bitcoin, and the bitcoin for USD… it would appear that the true scarce resource backing the cryptocurrency markets is the collective expendable income and credit of a gullible demographic of the online population.

So you’re witnessing a transfer of resources very likely from one group with a genetic mutation that results in a series of specific behavioral traits, to a group without the defect. You’re actually witnessing evolution.