I began working in the late 90’s as a web developer. Then adoption of the “consumer” internet was growing rapidly. I recall there was much excitement, naysaying, thoughtful analysis by very smart people, and pure FUD.

There seemed to be a set of fundamentals or values borrowed from existing phonomena and applied to the internet, internet companies, and their potential (for great or evil). These of course lacked the benefit of hindsight and today much of what was said (although well intentioned) turned out to be frankly ridiculous.

I have a gut feeling that in 10 or 20 years we will look back and realize that this new thing has a set of fundamentals all its own. Once those emerge we will be able to have wonderful arguments. Until then I just try to focus on the technology. It’s the only thing I can make reasonable sense of. Let the talking people talk. Let the builders build and let’s just see where this goes.

Crypto currencies like we see now are a new phonomena. We won’t know who the brilliant minds and the fools are until this all shakes out.