In October 2022, Bloomberg’s Matt Levine published “The Crypto Story”. It was, in my opinion, the most refined and extensive take on crypto across all mainstream media in the last two years.1
Just before New Year’s Eve, Matt Levine published a postscript to his first story: “How Not to Play the Game”.
Backtracking from his original take, he puts crypto on trial and turns from a curious optimist to a cynic, like a flag in the wind.
Here’s how that looks like. From (original article):
“Give it time. The crypto system has attracted a lot of smart people who want to solve these problems, in part because they’re intellectually interesting problems and in part because solving them will make these people rich.” or
“Modern life is lived in databases. And crypto is about a new way of keeping databases (on the blockchain).” or
“[Crypto] is just a thing someone made up”
“Crypto is, now, less necessary. Nobody has to have anything to do with crypto: You don’t need it to pay your mortgage or buy groceries, and if you want to ignore it, you just can.”
