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“Bitcoin offers something unique: unstoppable, uncensorable, permissionless money.”

— Win Ko Ko Aung

Q: Should sentiment in crypto be better?

I think it should — crypto market cap is back above $3 trillion, bitcoin has become part of the zeitgeist, stablecoins are booming, the institutions are here, regulators are sympathetic, memecoins are out, utility is in.  

But I can also see why it isn’t.

Among other things (many listed here), it feels like the wealth that crypto is currently generating is unrelated to the value that it hopes to deliver.

Case in point:…

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