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BTC · 10w

Second Echelon of Attack by the Establishment

The first wave of establishment’s counter\-attack on Bitcoin and crypto was like “hey, you’ll be better off trusting us, as usual”. Tactics were evolving from “crypto is criminal, beware!” to “look, we also got blockchain!”. Apparently, the strategy has failed. Since recently, one can sense quite different types of raids. Once it became clear that the monopoly on trust is not recoverable, it is now advantageous for the establishment to destroy trust altogether. It is an illusion they can’t go without trust, in the situation where nobody trusts anybody. As a matter of fact, it is very profitable but only for a very narrow strata at the top. The complete status quo is not possible to save but partial one can be preserved, at the cost of radically increased inequality. The classic [pirate game](https://en.wikipedia.org/wiki/Pirate_game) describes this well. Crypto today is NOT the solution to trust and the sober part fo the community doesn't claim so, crypto is THE PATH TO EXPERIMENT and develop the solution. Before everyone “has crypto” in some form, no new business or social model can work. Uber became possible AFTER we all got GPS sensors in our pockets; Amazon become possible AFTER we all got our homes connected; etc. So why we keep hearing complaints about "no killer app, ten years in"? The formal extensions to the pirate game are very interesting but you will have even more fun by reading them together with the [rich people being more unethical study](https://www.pri.org/stories/2012-02-28/rich-people-more-unethical-likely-cheat-and-steal-study-finds) \(and, yes, testosterone levels [aggravate](https://www.ethz.ch/content/dam/ethz/special-interest/gess/chair-of-sociology-dam/documents/sis2016/slides/SIS2016_Slides_Raub.pdf) that!\). Trust is broadly, hugely misinterpreted by incumbents! For example, aversion to the economic risk \(losing money or opportunity\) has been proven to be [lower](http://www.cs.cmu.edu/~wing/publications/Gligor-Wing11.pdf) than aversion to being betrayed. A behaviour perceived as wrong evokes a sense of betrayal and a desire to punish violators, even if punishment comes at a cost. As a result, we see wrong takes on trust everywhere. Centralised monopolies like Airbnb, for example, deploy the reciprocal feedback method which actually [spoils](http://cramton.umd.edu/market-design/bolton-greiner-ockenfels-engineering-trust.pdf) reputation information and trade efficiency. As the society is formed by the middle class, business sphere is formed by mid\-sized companies. By now, a typical owner is so irritated by the pointless hype that he is ready to pay Deloitte of someone like that just to be sure he can ignore crypto and live on, normally. All major consulting firms offer the blockchain service already. Of course, they apply a huge bias. Importantly, both IBM and Microsoft—the only two companies [featured](https://www.consultancy.uk/news/14018/the-10-largest-consulting-firms-in-the-world) in the world’s top 10 consultancies who could be considered as being from a purely technological background—offer some particular ready\-to\-use tools. You will see about fifty [use cases](https://www.ibm.com/blockchain/use-cases/) they advertise. However, after an attentive look an apparent diversity is collapsing just into the couple of big topics—supply chain optimisation and streamlining complicated sales processes—both being mostly about trust enhancement. Why so narrow? Crypto has a lot more to offer. For example, better automation of compatibility. Why do they focus on something that either can’t be achieved at the current level of adoption or is an abuse of the idea altogether? One more suspicious thing is the apparent connivance towards exchanges. Try to imagine they are all shut down tomorrow morning. Do you think it is going to be strategically good or bad for the core crypto development? All fraud is gone, in one second. All of it! The funding is limited but it only goes to devoted, true teams. Bitcoin image is not mixed with shit every day any longer. Just think about it.
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