Why Crypto Will Crash Hard And Come Back Long

“The woeful Cause yt in these Times, (E) Honor, & (D) honesty, are Crimes, That publickly are punish’d by (G) Self Interest, and (F) Vilany; So much for Monys magick power, Guess at the rest you find out more.” — William Hogarth, 1721.

Ten days ago, the founder of $LUNA laughed and said “95% [of coins] are going to die. There’s also entertainment in watching companies die too.” Well, his coin cratered. YouTuber ksi said “my 3 million dollars worth of Luna is now worth a few $100.” Which is, like, boo-hoo millionaire, but many people are downright suicidal and that’s awful.

--

--

--

Indrajit Samarajiva is a writer living in Colombo, Sri Lanka. Sign up for my newsletter at www.indi.ca, and you can reach me at indi@indi.ca.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Why does mining profitability vary between cryptocurrencies? — Cudo Miner

$PEEPOCOIN 🐸 is a community-based cryptocurrency based around the popular Twitch emote PEEPO.

“Asch’s Ten Dishes” The First One-Thriving

Are you still ok to go on?   — — Crypto wealth story in 2020 Q1

Shib allegiance

Wrap Protocol and Plenty DeFi Collaborate to Deepen Interoperability Within the Tezos DeFi…

Understanding spreads in Trading

CRTL Hero — “Issac Langpur”

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
indi.ca

indi.ca

Indrajit Samarajiva is a writer living in Colombo, Sri Lanka. Sign up for my newsletter at www.indi.ca, and you can reach me at indi@indi.ca.

More from Medium

Escape Fantasies of the Tech Billionaires

https://wwnorton.com/books/9780393881066

Today Is The Buddha’s Birthday, But He Can’t Come

A useful, critical taxonomy of decentralization, beyond blockchains

The OED definition of ‘decentralization,’ overlaid with flow-diagrams illustrating different decentralized topologies. Image: Txelu Balboa (modified) https://commons.wikimedia.org/wiki/File:P2P_Topology.jpg CC BY-SA Spanish 2.5: https://creativecommons.org/licenses/by-sa/2.5/es/deed.en

Good Men and Women Are Doing Nothing, and It Shows