A rewrapped interation of the ICO is coming in 2023 that decentralized money advocates again will confront. Short thread 🧵
Metaphorically speaking, when @Binance inevitably implodes, the @Grayscale discount widens to 100%, Ethereum’s liquidity is impaired, and the runway appears clear, expect REGULATIONS to help usher in a new version of sh*tcoinery, conmen, and the ICO—the company token:
Twitter Coin is set to drop sometime next year as they go the CCP WeChat route and turn Twitter into a payments platform too—with no cumbersome blockchain required. Every company will quickly hire platform engineers, ex-web3 (🤡) programmers, etc, to create a similar product:
This faux money will emerge as another form of coercion, used as bonuses for employees, donkey carrots to get customers to surrender more of their privacy, airdrops for promo, and a weapon in lobbying. It should all help either side of the two-party system radicalize further.
The final iteration of the ICO and shitcoinery will of course be governments at large competing with their CBDC’s (I wrote a thread on these linked below and why they’ll fail), which should be composable with the securities or company tokens
Anyway, as bitcoin finishes the 14-year-long Act I in its hero’s journey sometime in '23, the confrontation of Act II will be broader than we know. BTC will emerge as a tool to help us distribute away centers of everything, from cults of personality to prestige of government. End
This post is based on this twitter thread.