Curious what casters think of Matt Levine's magnum opus on crypto (40k words!). https://www.bloomberg.com/features/2022-the-crypto-story/
His closing graf about how crypto is the financial system for a society undergoing a singularity/rapture into the metaverse is more or less how I think about it: the only question is how fast the world gets there (or if it gets there...reality may well bite back).
He was the also the guy that said Elon was kidding about buying Twitter...
Optimistic but pragmatic crypto. Probably the right way to look at the whole thing.
i thought it was amazing writing. in a weird way it disarms you if u are a skeptic. he did miss a few major points, but that’s fine as it’s a massive amount of info. i would send this to anyone who is curious about the topic and wants to dip their toes.
1. he missed a lot and is generally very cynical, but 2. as far as mainstream business journalism goes it was way better than it needed to be
I think we need to remember that we are not the target audience for this piece (given we are using fc should be evidence of that). imho he did a compelling job explaining crypto to old school finance types in a way that is actually understandable and relevant to them: explaining the why rather than emphasising a casino
Because of his cynicism, and understanding of financial systems, he’s a credible source for curious skeptics. And this piece did a good job in explaining the history and simplifying the seemingly complex. I think it’s a good primer for the mainstream.
1. Good read for two reasons - does a good job of drawing a line from current financial systems to crypto & pretty exhaustive 2. Thought it was too long and could have used more editing