There's always more clowns in the clown car

2021 was peak market price but 2022 was peak degeneracy. I hope?

2022 was a year of hubris and madness. It was the staggering, drunken hangover of the 2021 bull market, lurching through a cascade of increasingly lurid stories of greed, fraud and idiocy. Bitcoin appeals equally to philosophers, idiots and criminals — but they don’t all contribute equally to the public’s impression of Bitcoin. The crypto industry is like a circus — there are skilled experts doing high-stakes maneuvers and there are hard-working stagehands shoveling away all the shit but most people would rather just laugh at the clowns. Hopefully by the end of 2023 I will be writing a post about how stable and mature the industry has become.

"Remember 2022?" we’ll chuckle, "It was a simpler time!”

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Headlines:

• SBF explains how DeFi ponzis work in surprising detail

• Jimmy Fallon is a DPRK operative

• Reality TV Star hospitalized after selling her farts in a jar as NFTs

• 97.7% of all tokens launched on Uniswap were rug-pulls

• Donald Trump NFTs stole art from stock photography

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Pictures:

Ponzi founder Richard Hart seen here not compensating at all.

Razzlekhan a more elegant criminal from a more civilized era.

Just out of frame: the CZ/Binance doll.

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Graphs:

Eric Wall @ercwl

This will go into a monetary policy history book some day (most searched term in every state) March 4, 2021: Stimulus Check April 29, 2021: Dogecoin

Fundraising in Web3 exploded in 2022.

For TerraUSD everything was stable until it wasn’t.

The iconic Bitcoin Rainbow chart fails for the first time since 2014.

Thanks to the power of the Merge Ethereum is now ~71% government compliant.

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Songs:

• Have Fun Staying Poor (Sea Shanty)

• What the hell’s an NFT? (SNL)

• Metaverse Apartment

• That’s a Scam! (SBF Remix)

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