> ## Content Index
> Fetch the complete content index at: https://werd.io/llms.txt
> Use this file to discover other available public pages before exploring further.

# The Token Disconnect
- URL: https://werd.io/the-token-disconnect/
- Published: 2021-11-27T19:29:34.000Z
- Updated: 2021-11-27T19:29:34.000Z
- Author: Ben Werdmuller
- Tags: #Import 2025-06-13 09:24

"Silicon Valley ran dry on large breakthroughs in software, so we decided to invent the “blockchain”, a simulacrum of innovation that organically fermented from the anti-institutional themes in the Western zeitgeist to spawn an absurdly large asset bubble with absolutely nothing at the center. There is no there there, and crypto morphed into a pure speculative mania which attracted a fanatic quasi-religious movement fueled by gambling addiction and the pseudo-intellectual narrative economics of the scheme. All conversation around crypto is now simply the sound and fury of post-hoc myth making to rationalize away the collective incoherence of the bubble in a near perfect exemplar of the motivated reasoning of economic determinism."

\[[Link](https://www.stephendiehl.com/blog/disconnect.html)\]