Crypto appears to be in a bull market, perhaps not by a technical definition, but most of the attendees at ETHDenver would agree that it sure feels like it.
Even Ethereum co-founder and Consensys CEO Joe Lubin believes that things are looking up for crypto, and he’s convinced that the best is yet to come.
On Feb. 29, Lubin joined the “What will drive the next super cycle” fireside chat moderated by Axios reporter Crystal Kim, and during the conversation, Lubin touched on the current “super cycle,” whether or not a spot BTC and ETH ETF are good for retail investors and the more developer-focused community and the growing need for decentralization in multiple industries.
When asked what would catalyze the next super cycle — a long period of economic expansion that is typically driven by strong growth in the demand for products and services — Lubin said,
“We are in this 4th turning, and we are ready for a new system of the world. The other way of thinking about it is that it’s a monetary super cycle, where the monetary systems of the world reach and end of life essentially, basically because of interest, and there’s too much debt in the system because certain generations broke the monetary system and other elements of the financial system.”
Lubin explained that “crypto was born into an era of free money. It was born of an era of constrained money, controlled money, top-down command and control. Essentially, we for millennia have been living in a paradigm of centralized top-down trust and its authorities imbue intermediaries with certain powers and the intermediaries help run the world, they maintain these databases or ledgers that control who owns what and who has rights and privileges.”
According to Lubin,
“Satoshi invented decentralized trust as opposed to centralized trust. We’d never seen decentralized trust on the planet before.”
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