Happens in everything. Corporations can fail. Trad-finance institutions can fail. Sovereign currencies can fail.
I still think that beats centralized finance, where I'm barred from investing in, say, startups. Because I'm not ~~rich~~ accredited investor, lol. Ofc that's for my safety, because apparently reducing opportunities of non-rich people is 'protecting' them.
For some bizarre reason one doesn't need to be an 'accredited' to start their own business. I wonder what's the logic here? Government should clearly fix that issue - after all, if investing into sth like OpenAI (for example) is considered risky, then starting your own business is straight up delusional.
> I had a nontechy relative call and ask me how she should go about selling her (literal traditional paint-on-canvas) paintings as NFTs!
What's wrong with that? Is selling physical merchandise bad too? Or digital goods in general? Commissioned digital art? Why is it illegitimate and, say, autographs aren't? Frankly, I find it to be a more elegant system than these other approaches. It would be nice if it caught on someday.
> For a little bit there it seemed like there might be enough momentum for cryptocurrency to become too-big-to-fail before skeptics even had time to object.
How great! "Skeptics" are a bit of a weird name for this. Tech innovation doomers is more fitting, I think. Narratively, I'll admit, you guys are currently on top somehow. VR, Metaverse, AI, whatever Musk ever does... (well, AI doomerism isn't quite universal yet, maybe).
Truly amazing, let's not ever do anything different or new, it's all shit after all.
(also, maybe I'm delusionally optimistic, but I don't think it's quite over yet)