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• @mweiss@infosec.exchange 2026-09-29 00:01

  @benroyce@mastodon.social @Jazone@theforkiverse.com @mattblaze@federate.social That's an easy (and, dare I say, cynical) view. But the starting point for Bitcoin was a need to reach critical mass, and mining was the way to get there. Align the economic incentives to achieve the critical mass necessary for it to become self-sustaining. The crazy hype wasn't really necessary, nor was that part of the initial structure. Many later iterations of cryptocurrency were different. Rug pulls work only if you don't have well distributed critical mass, and if you're able to blur the distinctions among the different cryptocurrencies. It's turned into such a complicated mess in the intervening years that none of them are reliable stores of value anymore, each for various reasons. None of them are boring.

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