Friday, January 6, 2023
Insights: Tony Greenberg: Three Predictions for 2023
For our Insights and Opinions section today, we have Three Predictions for 2023: Decentralization Now, Post-Speculation, and Surviving Irrational Markets (from Tony Greenberg)
- The death of decentralization-washing is key to the great decoupling
- Net cash inflows into the market shift from speculation to revenue – and determine winners
- Markets continue to stay irrational longer than you can stay solvent – so everyone needs help
Death of Decentralization-Washing
For years, crypto has claimed to do business differently – to propose a reserve currency that’s truly countercyclical, to create trust in a trustless environment, to decentralize decision making and governance. In practice, bitcoin was a crappy tech stock, investors entrusted billions to centralized exchanges, and the crypto world continues to idolize charismatic founders, not communities - despite the hundreds of rug-pulls and ongoing toppling of former idols like SBF. And in these centralized models, the blockchain is little more than a very slow and expensive database. (Continued...)
Read the rest of Three Predictions for 2023: Decentralization Now, Post-Speculation, and Surviving Irrational Markets.