In 2022, we learned that: 1) The 2020/21 bull market was a P | Crypto Lord's

In 2022, we learned that:

1) The 2020/21 bull market was a Ponzinomics bubble.
2) Crypto remains, for the most part, a greater-fool asset class.
3) The industry’s profitability was a mirage, based largely on the pseudo-arbitrage in GBTC.
4) DeFi is the opposite of censorship resistant.
5) Blockchains are the opposite of anonymous.
6) There will never be a decentralized, on-chain dollar.
7) There was too much money in crypto, not too little.
8) DAOs are neither decentralized nor autonomous.
9) We're not all going to make it.

For crypto, 2022 was the year of discovering 10,000 ways that won’t work.

Source: Blockworks

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