A Taxonomy of Shitcoins: Introduction
Over the next few weeks, I'll be releasing a series of articles about cryptocurrency that focus on the shitty things that coin creators design into their coins. Sometimes it is by Broken Promises Cryptocurrency technology has the potential to radically transform and improve human social and economic outcomes for all humans. I believe that this is a fundamentally good technology, something I've been waiting for all my life. The benefits are legion: increased trust decreased transactional friction more efficient markets autonomous agency transparent governance However, they all have human implementations, and for the vast majority of coins I've seen, even the major ones, are fundamentally and intentionally flawed by some design choice, usually borne of greed. I hope to expose here that many of these choices will not only lead to a crippled cryptoeconomic system, but more importantly, it will lead to the the coins themselves being worthless as they are...