Last month, cultural critic Alison B. Davis published an article in The Cut called “Atmosphere Change Is Coming.” Will any of us survive? “” Change in Atmosphere “Davis talked about has nothing to do with coding. She referred to dramatic changes in pop culture. And social trends, especially given GenZ’s continued increase in trend status and cultural significance. However, her position captured my attention because it indicated something important that I also felt, especially when it came to cryptocurrencies. The paradigm shift towards the next cultural moment – whatever it may be – is obvious, even if it is not tangible. is in the room.The specific circumstances have not changed yet, but the atmosphere has definitely changed.
In the days after the publication, the “mood change” caught Twitter’s attention and in many cases was ridiculed. As silly as the term is, it reflects something real and similar happening in the crypto space. As silly as it may seem at first glance, it is an atmospheric change in cryptography.
I like the term “vibration change” because that’s what it’s about: feeling, intuition, mood, tone, vibration. Throughout its short history, changes in cryptographic power have followed changes in the technology itself. Crypto’s initial Wild West optimism related to Bitcoin (BTC)’s transition from a peer-to-peer (P2P) payment solution to a value store then went even crazier with the introduction of Ethereum, which demonstrated the potential for smart contracts. This semi-obsessive optimism has become more serious and practical as decentralized finance (DeFi) has expanded into legitimate Layer 2 networks. The development of non-fungible tokens (NFT) has captured the interest of artists and musicians, not the other way around.
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This is neither good nor bad, it’s just a fact. Technology determines the discourse of DeFi and crypto, which means that it also dictates culture. “It’s not like that anymore” is an argument that you can only make when the actual technology has reached a certain level of sophistication and general legitimacy – which is what happened with encryption and DeFi. “shake shift” of cryptocurrency is necessarily a new concept, and it happens in a particularly interesting way.
In other words, the way we talk about encryption is changing, but not in response to the technology itself. People talk as if they are more attractive in the game, and not just because they invest their capital in investing. People are thinking more about the role of crypto in the world, and not just for the selfish purposes of profiting from mass adoption.
From profit to politics
Dare I say we went into politics? I first noticed this when Canadian truck drivers protested against the introduction of vaccinations. This question sheds light on the crypto space and does not agree or completely disagree with the true goals of the convoy. Faced with a government freeze on traditional assets and a lack of access to standard collection platforms such as GoFundMe, truck drivers turned to bitcoin and raised $ 900,000 in a matter of days. Subsequent attempts by the Canadian government to freeze cryptocurrencies linked to the caravan were only partially successful. After a Supreme Court judge in Ontario issued an order to freeze millions of dollars in cryptocurrency for a caravan, the crypto community reacted with a mixture of protest and confusion. Multisig Wallet Nunchuck was forced to respond publicly that, regardless of policy, they could not provide the requested information even if they wanted to: “We are a software provider, not a financial intermediary and a manager,” and we have no opportunity to obtain user rights. assets at the same time.
Regardless of being upset about the truck drivers’ political stance, the impact has removed some restrictions in our room. The idea (which turned out to be a reality) that the federal government could confiscate cryptocurrencies by court order and on a basis that is at least partly linked to ideology goes against everything this society is proud of. The Russian invasion of Ukraine reinforced this sentiment.
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Cryptography of war
Several interesting things happened in the first days of the Russian invasion. The Ukrainian government requested bitcoin donations in advance (which inevitably led to scammers trying to clone the account to their own advantage) and then invited crypto exchanges to freeze Russian accounts. The transformation of cryptocurrency into a secure financial port and a reliable store for the value of a country at war has changed the rules of the game.