"Crypto boosters claimed they were in the vanguard of a revolution that would democratize finance and lead to generational wealth for those who believed. The roar of the rising prices drowned out the skeptics. Incomprehensible jargon became inescapable. Blockchain. DeFi. Web3. The metaverse. What these terms meant was beside the point. Newspapers, TV, and social media bombarded potential investors with stories of regular people who invested in them and got rich quick. None of this led to any sort of mass movement to actually use crypto in the real world. Nobody tossed their credit cards, closed their bank accounts, and abandoned the dollar or the euro in favor of, say, Cardano coins. But the hucksters, zealots, opportunists, and outright scammers who created the boom got unbelievably, unimaginably, impossibly rich."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
Zeke Faux, Number Go Up: Inside Crypto's Wild Rise and Staggering Fall (2023)
https://en.wikiquote.org/wiki/Cryptocurrency
Revision History
No revisions have been submitted for this quote.
Categories
Cryptocurrency
14 quotes on TrueQuotesView all quotes by Cryptocurrency →
Related Quotes
"Meanwhile, China has been slowly rolling out a digital version of its yuan, also inspired by bitcoin and crypto, in a…"
"[Cryptocurrency is] an asset, a commodity, and a store of value."
"In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending."
"Because imagine the combination of social media, the algorithms that drive social media, the amassing of even larger …"
"I've always been deeply opposed to crypto, bitcoin, etc. You pointed out the only true use case for it is criminals, …"
"The worst thing you can do is lay the wet blanket of government over this emerging area that frankly a lot of people …"
"From the day I started digging into the crypto world, I had seen nothing but red flags. Why were all these companies …"
"Bankman-Fried told me that as many as five of his colleagues at FTX were billionaires. And that was just a single cry…"
"This is the story of the greatest financial mania the world has ever seen. It started as an investigation of a coin c…"
"Having alternative currencies is great, right, because, historically, government's had a monopoly on currency. … At t…"