AC issues a statement of not returning: Cryptocurrency is dead, long live the Cryptocurrency!

For supporters of the Fantom ecosystem, March 6 may be a day they would rather forget. On this day, their spiritual leader Andre Cronje announced his departure from the crypto industry and the discontinuation of multiple protocols, leading to a sharp decline in the price of FTM. However, today, AC has returned, but what he has to say may not be what the crypto community wants to hear...

The Rise and Fall of Cryptocurrency

I hope to be old enough to witness the birth of monetary policies. To see the mistakes they made, because I believe we are repeating them.

I often think that many products in the cryptocurrency industry are created by people who only read articles about bonds, coinage tax, or debt instruments on Wikipedia. These people can't help but think, "I can do better."

The same thing often happens when writing code. Suppose you discover a program written by another organization or developer today and quickly find a mistake, thoughts like "This is not needed." "This can be done better." "Why write this? It's meaningless." arise in your mind, and you plan to optimize it.

In the next few days, weeks, or months, you start recoding, then encounter the first, second, third problem, and make adjustments step by step. Until you finally realize that the code you wrote is exactly the same as the original, and the thought, "Oh! I understand why!" pops up because you finally understand why the original code looks that way.

The same goes for monetary policies. I understand that monetary policy, currency issuance, bonds, coinage tax, commodities, securities, derivatives cannot be viewed separately; their existence all has reasons. But the cryptocurrency world is a new generation, a generation that we believe "we can do better."

For a long time, I have been outspoken about my disdain for cryptocurrency culture and my love for cryptocurrency spirit. This may sound contradictory, but the concept of cryptocurrency spirit includes autonomy, self-regulation, self-empowerment, while the concept of cryptocurrency culture is like wealth, rights, and self-awareness.

Cryptocurrency culture has stifled the cryptocurrency spirit.

A professor once told me, "Contracts appear when people need them, not at a convenient time." Regulation and legislation are the same; they appear when there are problems, when you need them most, not during the honeymoon and champagne times.

I now see the need and necessity for regulation as never before. It is not a preventive mechanism but a protective mechanism. Like preventing children from sticking their fingers into electrical outlets before they understand they shouldn't. One day they will understand, but not today.

Cryptocurrency is dead, long live cryptocurrency.

We are entering a new era, the current repetition will turn everything into wasteland, unknown wallets will lurk in its shadow, and we will see the rise of a new blockchain economy, not driven by greed and distrust but by trust in each other. Experiencing a cycle is ironic, but I find myself more excited than ever before. I will not step into the wasteland again, but I am looking forward to this new future.