Killing more worthless projects would be a win for crypto

When blockchain projects show their technology has something to offer that traditional internet doesn’t, big investors will get on board.

“If you aren’t thinking about owning a cryptocurrency for 10 years, don’t even think about owning it for 10 minutes.”

Such a philosophy is common among investors who are enthusiastic about blockchain’s potential to dominate Web3 as it becomes the infrastructure of the new internet. Yet, if you swap “cryptocurrency” with “stock,” you get a Warren Buffett quote — word-for-word. Of course, Buffett would never say such a thing about cryptocurrency because he thinks it’s worthless.

So do a host of other heavy hitters, ranging from Buffett’s close ally Charlie Munger to gold’s poster boy Peter Schiff. Add to the list J.P. Morgan Chase CEO Jamie Dimon, Nobel Prize-winning economist Paul Krugman, and even Massachusetts Senator Elizabeth Warren — a progressive Democrat not known for agreeing with billionaires.

The cryptocurrency industry clearly has a PR problem, for which it can partially blame itself.

Bitcoin BTC has managed to make big promises since its 2008 debut that it so far hasn’t kept. First it was supposed to function as a currency. When the currency use case didn’t work, the prevailin