This is the armchair-expert smugness that defined the failed Gensler SEC. We saw it in regulation by enforcement, Operation Chokepoint, at the FDIC, and throughout the halls of Congress.
A smugness that says: “I listened to a podcast, so I know better than the people who actually lived it” while reaching for the machinery of the state to impose that delusion, whatever the cost.
A smugness that built nothing, risked nothing, and lacks the curiosity and humility to revisit their priors.
A smugness rooted not in confidence, but in blind belief.
Nearly every critique I have of crypto is informed by crypto users here and in media. Whether it’s years ago reading about a16z/uni governance fiascos, uni itself claiming copyright infringement over a fork, or reactions to SBF saying on Odd Lots that yield-farming is a Ponzi…