I don't hate crypto per-se. Nor am I particularly gloating about it. However I hope that the silver lining here is that this will be yet another in my evergrowing list of examples to share when I advise people not to get involved in crypto. It's not a safe environment and the people getting hurt don't deserve to get hurt. The only weapon I have to help more people not get hurt is to use these cautionary tales to help inform them of the risk. The track record of crypto indicates that right now many governments are better at the whole monetary policy thing than any blockchain.

Will blockchains fix these problems and mitigate the worst facets of human nature? Maybe, but I have no reason to believe they will right now and every argument that they will is rooted in a faith based statement about the inevitability of technilogical progress. A faith I don't subscribe to and therefore is unconvincing to me.