Why isn’t smart money’s effect on crypto’s original promise discussed more?
Prioritizing the ideas in the Bitcoin white paper instead of perceiving crypto as a forex market could have dramatically changed today’s cryptocurrency use cases. Ignoring the original, utility-driven ideas introduced in the early documents on digital cash became the new normal once adopters stumbled upon a cryptocurrency price ticker. Are new price tickers a sign of innovation? There is a critical paradox when thinking about inventions and new things. Culture influences technology, while the technology itself influences culture. This also applies to distributed ledger technology (DLT). However, the case of cryptocurrency is more curious than other innovations because it is not currently used in the way the inventor initially proposed. Some might argue that the way crypto currencies are currently interpreted — primarily as investments rather than transactional units for the most part — is more harmful than beneficial. Smart money helps drive these possibly malicious use cases of cr...