The Resolution Of The Crypto Experiment

5 min readMar 9, 2024

Crypto has shown no signs of change in the past seven years of my engagement.

A speculative market with limited value to our society attracts an endless number of victims.

The wrong moment is approaching faster than ever, and most “investors” will fall into this trap for one more time.

Institutional adoption is a complete joke.

These fund managers overlook the fact that no realistic evaluation model indicates that the prices of cryptocurrencies will perpetually rise, or that they are not overheating right now either.

Innovation more or less does not exist, while the initial potential was distorted into plain price speculation.

Nobody talks about utility, because for the most part, it does not exist.

For everyone involved, this is all about making it big during the bull run.

Yet, this modern dotcom bubble is in its final stages as the masterminds of financial markets have landed in crypto.

Banks and institutions will get in deep trouble buying stakes of over-polished tokens that shine but actually contain only garbage on the inside.

Code cloned from other open source projects is traded for billions in market cap in crypto exchanges, as allegedly this is innovation.

The founders have a grip on their projects by holding a large stake in their enterprise. Pre-mined and pre-minted tokens, presales, and companies in control.

The risk these companies undertake is minimal. They can just launch their company from the basement of the dev, hire freelancers to outsource everything and if they have connections, their token will pump enough for them to dump their massive amounts of tokens in the market.

Almost everyone is trying to hide the fact they are only interested in a price pump.

Therefore, I can’t tell if I discovered vast innovation, use case, utility, or anything disruptive so far besides the original vision of Bitcoin.

DeFi is mired in a swamp of pump & dumps.

It has no application in real life in its current form and it won’t bring finance to the unbanked.

There’s not that much to look forward to in the entire crypto spectrum.

Just projects repeating ideas and struggling to look professional but all waiting to dump billions of shit tokens as the prices increase parabolically.

I’ve researched in depth hundreds of cryptocurrencies and their communities.

BTC, Ethereum, Waves, EOS, Decentraland, WAX, Chainlink, Nano, several hundred ICOs in 2017, and various other projects.

However, what I found out is only nonsense.

They all just waited for the price to explode so they could reap profits, and they would accept anything as long as it helps them achieve this goal.

Bitcoin Cash is different. The price was not the end goal, but this community has a more logical perspective.

The price will follow the adoption rate of P2P Electronic Cash.

Besides Bitcoin Cash, which I will always support as it is one of the few cryptocurrencies we can always use for P2P electronic transactions under the model Satoshi enabled, there is not much in this field that makes sense.

Utility is what the whitepaper suggests.

There is only one value proposition, the whitepaper. Bypassing the financial system with P2P transactions and establishing censorship-resistant digital cash. Of course, this is only mentioned between the lines. It is what gave a price and a value to Bitcoin early on. Yet a lot more had already happened with BTC before I even joined this domain, as it was already redirected into a different approach, far from what the whitepaper describes.

Why you need this particular money option to be available is probably what you should have asked in 2008, not in 2024.

Yet, with BTC fees of $70 this option is not available to me, and probably the 99% of the world. With high fees BTC is a game for the elite to play, not the average Joe.

For me, it is only Bitcoin Cash that achieves this in perfection, however, some other people will present some other options. A few BTC maximalists are pushing Monero, even fewer are pushing Litecoin, and troll farms are hired to promote Nano and BSV.

Pick your own adventure. It won’t affect my own and I don’t want to affect yours, anyway.

The 2020–2021 bull run was about to end a lot sooner. About six months earlier, with BTC at around $25,000 yet, it was just Elon Musk who changed the trajectory with Tesla’s purchase of BTC.

It was when I started receiving all these phone calls from people I hardly knew asking me which cryptocurrency to buy and if Tron was the real deal, entirely misunderstanding the concept of decentralization and financial freedom.

If you ask me about this bull run, I doubt it will continue in 2025, perhaps by summer 2024 it will all be over.

With crypto, similarly to the over-popularised Schrodinger’s cat, all of our predictions are both right and wrong at the same time.

Fake engagement matters. Having paid trolls and botnets promoting your token for a glorious pump and dump. It is all an illusion more or less and nothing has proven it is worth investing for the long run.

This chart is an anomaly generated by Tether, massive advertising, botnets in social media, artificially boosted numbers of Bitcoin influencers, and lately, the institutional hype that jumped on board for one final pump.
Where this run ends is unknown.

Perhaps $100k, perhaps $200k, with enough FOMO. Who cares? It ain’t going to change a lot. The time of vast profits for newcomers ended in 2017.

Does this chart make sense?

BTC is all just acting as a Ponzi scheme attracting new investors to provide exit liquidity for the early adopters, the whales that hold vast amounts of BTC and slowly sell as liquidity and prices increase.

Yet, at the end of the bull run, the effect of the collapse will also be institutional. It is once again the taxpayers that will be asked to cover for the mistakes of fund managers and save the banks, funds, pensions, and anything involved with crypto heavily that will be collapsing.

There will be environmental concerns again, and there will be even more custodian disasters.

After 700+ stories with 7000+ followers on Medium and 20 videos on YouTube (1000+ subscribers) I decided to quit as I don’t find it worth my time having to deal with a countless number of trolls that have no real intention of constructive criticism.

I can utilize my skills in other areas where scams and manipulation are not widespread.

I don’t have to deal with mass reports by BTC botnets and scammers, however, in crypto, it is mostly scammers that achieve reach and the absolute proof of that was Sam Bankman-Fried.

Farewell to my followers and anyone reading this, I will still be around, not with content but with the perspective of a bystander.

Also Watch:

By going through the comments on this video, you can learn more about the aggressive methods used by BTC maximalists to artificially inflate prices (paid shills, fake engagement, bots).




Sharing my seven years of experience with cryptocurrencies.