The reputation of ‘crypto’ has never been lower
The simple answer is that a lot of coins/tokens that purport to be crypto have little utility and/or are straight up scams
Unfortunately, I think we are too far gone to save the reputation of the name
We need a new name to be able to differentiate the good from the bad
TradFi has latched on to ‘digital assets’ but that seems very corporate and it still doesn’t really differentiate between them
Maybe it’s what we need to be taken seriously, but I feel we can do better
I don't have an answer, simply musing
I also think that one day this will end up simply as the ‘Ethereum ecosystem’ as Ethereum is synonymous with quality and the brand will speak for itself
But even this isn’t perfect as due to the permissionless nature even rugs can be apart of the Ethereum ecosystem
Ultimately I think it just comes down to knowledge and understanding
So perhaps it's less about a name, and more simply about continuing to call out grift when we see it and spreading the word about the positive things crypto and Ethereum can do
The issue with this, though, is that people need to 'see' things before they believe them
That's why it is obvious in hindsight, however it doesn't make getting there any easier
Even in the crypto bubble there is confusion, and this doesn't help outside messaging - the fact that people can be 'crypto native' and yet support vaporware in the pursuit of profits is essentially the whole problem
There is no conclusion I love you
Happy Friday

peth.eth
@petheth
01-23
63% of ALL Americans don‘t trust crypto.
But when you filter for only the people who DO know crypto...
...
...the number pumps to ~80% 🤣
In other words the MORE you know about crypto, the LESS you trust it.
Bewildering when you think about it.
"We need a new name to be able to differentiate the good from the bad"
yes, and please not web3, it is even worse
Not really ngl
Sector:
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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