The trenches have forgotten how to dream.
I think this is a natural consequence of the last 7 years.
First off, this industry has always had lofty goals.
We wanted to create non sovereign money and build a whole new finance system - big goal!
So in the early days, ideological libertarians got all the airtime bc they had the difficult job of just explaining what Bitcoin.
That was so, so much harder a decade ago and required lots of education and framing.
Fast forward to 2021, Ethereum began to dominate every other chain and two things happened simultaneously.
1. Ethereans inherited lots of lofty ideals from the Bitcoiners
2. They indulged in technobabble coincided with the token going up, and people mistakenly attributed ETH’s success to it
The Ethereans got a lot of stuff right, but also a lot of stuff wrong. Once price went down, we went from questioning nothing to assume they got nothing right.
Obviously neither assumption was right.
The cherry on top for natives is that what has “worked” is highly nihilistic meme trenches, which has sucked the soul out of the early ideologues.
The bizarre result is that today, institutions are far, FAR more bullish than their crypto native counterparts.
They, unlike us, didn’t throw out the baby with the bath water.
The institutions always ignored the ridiculous high minded rhetoric, and instead focused on what is actually real: housing assets onchain is better.
So today we have OGs leaving the space while Treasury calls for $2T in stablecoin market cap by 2028.
So what does this mean?
It means stay positive. Do NOT get psychologically shaken out at the exact moment we have definitively won.
Stay positive, keep the faith, reject nihilism.
🚨 Bitcoin drops below $58K with market losses totaling $178M! 🌧💸 What's driving this plunge? Market sentiment is negative—what do you think are the key factors here? #Bitcoin#Crypto#MarketCrash#BTC