Chris Dixon's Crypto Claims Are Logically Flimsy
Axie Infinity is given as a &quot;good&quot; case? Axie Infinity is a Ponzi scheme.[1]<p>Matt Levine, Bloomberg: <i>Doesn’t it feel like the dystopian future we deserve? Like in a decade everyone will make their living by steering colorful blob-like creatures around to acquire coins in a virtual world, but ownership of the colorful blob-like virtual creatures will be concentrated among a hereditary elite of people who, like, bought Dogecoin in 2014, and in order to scrape together enough to live on you will need to indenture yourself to a member of that elite, steering their blob-like virtual creatures around to earn coins for them and getting a few crumbs for yourself. And you’ll work 16-hour days in the Smooth Love Potions mines just to feed your children, but every once in a while in a rare free moment you will stop and ask yourself “wait why do our overlords want all these Smooth Love Potions anyway?”</i><p><i>Meanwhile the overlords will form a leisure class and devote themselves to philosophy and philanthropy. They’ll keep busy collecting non-fungible-token art and putting their names on virtual library buildings in the metaverse and writing manifestos about how cryptocurrency enhances human freedom and levels the playing field for everyone.</i><p><i>And maybe in some virtual library in the metaverse a disaffected philosopher of the overlord class will be busy creating a new theory, a theory about how the relentless accumulation of Axies in the hands of a smaller and smaller elite will lead to an increasingly disaffected proletariat of colorful-blob-like-virtual-creature steerers, who will one day, through the inexorable logic of metaversal history, rise up to throw off their chains and steer their colorful blob-like virtual creatures to tear down the virtual palaces of their virtual oppressors. Blob-like-creature steerers of the world unite, this new prophet will tell them, you have nothing to lose but your Axie Infinity Shards.</i><p>[1] <a href="https:&#x2F;&#x2F;www.bloomberg.com&#x2F;news&#x2F;newsletters&#x2F;2021-08-26&#x2F;money-stuff-accused-ponzi-schemer-kept-busy" rel="nofollow">https:&#x2F;&#x2F;www.bloomberg.com&#x2F;news&#x2F;newsletters&#x2F;2021-08-26&#x2F;money-...</a>