Yep. Some confused a monetary revolution for a technological revolution; completely misunderstanding that Bitcoin was a monetary winner-take-all protocol, not a “technology” to try and be improved.

Play that out for 10 years and the result is the lobotomized idea of “crypto” that most people hold today.

Given the capital destruction that would occur if they admitted they got it wrong, it’s clear that “crypto” is going to cycle through narrative after narrative to keep the charade going and eventually die with a whimper.