One imperfect but useful way to think about crypto,” I wrote, “is that it allowed for the creation of a toy financial system.” A lot of people in crypto described it as a set of innovations that would have profound effects on the real world, on ordinary people’s daily lives. But a lot of people in the crypto financial system treated it as a game where they could click some buttons on a computer and get rich with no real-world consequences

Fwd: Money Stuff: Crypto Manipulation Has Consequences
from Josh Beckman ✉️