I’m Long Crypto But Respect Those Who Aren’t

This still has a long way to play out

I spent some time down the crypto rabbit hole during Covid lockdowns in 2021. While I view myself as a latecomer to the party, it’s early days if crypto is to go mainstream and fulfil the dreams of many.

How that will happen is everyone’s guess. Bitcoin could become the global currency and Ethereum becomes the building block of the next iteration of the internet, or maybe new projects surpass them both.

Whether any or all of these happen is to be seen, but there are so many people with strong convictions either way.

Bitcoin maximalists say that altcoins trend to zero long over the long term, inflation is theft and bitcoin will surpass the market cap of gold in the coming years.

Ethereum fans love to say that Vitalik is the boy wonder who will change the internet through smart contracts, open-source code and new infrastructure. Big proponents like Raoul Pal see Ethereum as the greatest trade of this generation.

Then you’ve got the altcoins and projects being built out with great support from venture capital. Chris Dixon and Naval Raikant on the Tim Ferriss Show got a lot of attention for this space and is still frequently referenced on Twitter months later.