'The Crypto Economy is Too Conservative and it’s Your Fault' by T_W_Kaiser cryptocurrency defi
, I have noted that there is a certain logic behind these hype cycles. Well, except for dog-themed shitcoins. This is just an atrocity committed by degen speculators on crypto’s dev community that is actually working on solving problems. Seriously guys, these ARE shitcoins and you know that.
On the other hand, effort is usually not rewarded in this environment thanks to the somewhat erratic behavior of degen investors, who often just randomly pick low market cap crypto assets in the hope of actually drawing one out that will make it big. Hey, we all know someone who received a huge windfall that way, right? Problem is, all you ever hear are stories about those who won in the shitcoin lottery, not the ones who lost.
Rough market conditions like these have a cleansing effect that prompts investors to choose which undertakings are worth supporting and which ones are not. In the wake of the 2018 crypto winter, not many projects that priorly carried out a successful token sale have survived, but those who do are now real powerhouses. Expect that 2022 will flush out most of the copycat projects in favor of the original DeFi innovators and make way for new concepts in the decentralized economy.
Also, innovators will typically provide you with all kinds of resources to help you understand what they are trying to accomplish. Usually, they compile the most helpful resources in their Medium blog, so this should be your go-to address to learn more about the industry.
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