Coinbase’s Brian Armstrong: ‘I’m just as bullish on crypto as ever’

ft.com

3 points·crackercrews··4 comments

Everyone who holds crypto thinks the same. This is why crypto is so dangerous. It's essentially a cult. Once you buy it, you try to recruit more people through social media, traditional media, word of mouth. The only way crypto can go up is if more people buy in since it doesn't produce anything of value.

It's basically like a pyramid scheme but without real products to sell. Just "hopium".

You'll never hear useful things created on the blockchain from crypto bros. Instead, all you hear are random predictions of prices such as "$1m bitcoin by end of 2023". Or "$10,000 ETH soon" which is actually said by the CEO of Y Combinator.

Coinbases's people would claim that in every situation. Is it worth reading beyond title?

As we say in the Netherlands "Wij van WC-eend..." ("We at toilet-duck...", it's from an 80's commercial [0] which ended with the signature sentence: ...And that's why we at toilet-duck recommend... toilet-duck.)

[0]: https://www.youtube.com/watch?v=YsvHeLUOoxs

> The "Toilet" moniker has been dropped from the name in the UK and Ireland, and the product is now called "Duck"

Always wondered a bit about that. Was "toilet" really the bit that was bothering people about this whole concept?

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