Links: Snow Crash, South Park, Bitcoin’s IPO and bubbles

Neal Stephenson, author of _Snow Crash_, has been a visionary regarding cryptocurrency and the metaverse, imagining a decentralized network focused on privacy and security. His insights suggest that today's crypto scene is increasingly commercialized, straying from early cypherpunk ideals. Stephenson warns against creating projects solely for financial gain, advocating for focus on the intangible value of innovation. Meanwhile, _South Park_ humorously critiques the crypto landscape, highlighting the tension between idealism and opportunism in the industry. Ben Thompson notes a quasi-spiritual aspect to the AI and crypto bubbles, asserting that bubbles can yield long-term benefits by fostering infrastructure and innovation. Current observations indicate Bitcoin is facing challenges as early adopters sell their holdings, which may lead to a more resilient asset in the future. In light of potential regulatory changes, Hester Peirce encourages the crypto community to create valuable, socially beneficial projects to safeguard against political shifts.

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