alt Hacker NewsCrypto in 2026: Oh, This Is the Bad Place
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Really wish we could go back to saying "cryptocurrency", it is incredibly depressing that the world has decided that "cryptocurrency" is more relevant than "cryptography"...
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Surprised to see him writing about this again. He spent years completely consumed by his hate for crypto, tweeting around the clock, before suddenly rage-quitting social media. I assumed he had permanently unplugged for his own peace of mind.
The irony is his background as a former "blockchain" startup founder, right during that mid-2010s era when people who missed the early Bitcoin boat desperately tried to make "enterprise blockchain" happen. It reads like a severe case of cognitive dissonance reduction. Having spent years trying to make the wrong iteration of the tech happen while missing the actual wave, he embarked on an endless crusade to manifest a collapse just to retroactively validate his own poor decisions.
The global stock market has been outperforming Bitcoin for a while now.
I think we have a clear idea on what sort of crypto is useful (stablecoins) and which ones are not (memecoins, Bitcoin).
As we have seen with Stripe [0], Shopify [1], PayPal [2] and many others have all figured out its utility is in stablecoins like USDC, which you can send them worldwide, same day, 24/7 in seconds close to $0 with no room for speculation and pay for things and soon agents will do the same. [3]
We get that the author is still upset about Cardano ruining his own crypto startup (Adjoint Inc.) in 2017, but I think we are way past the "crypto is scam" chantings and the companies that I mentioned would agree.
[0] https://stripe.com/en-es/payment-method/stablecoins-and-cryp...
[1] https://www.shopify.com/news/stablecoins-on-shopify
[2] https://www.paypal.com/us/digital-wallet/manage-money/crypto...
The article speaks of doom and nihilism, but isn't this another example of reversion to the mean?