Most systems research, it’s a kind of digital voodoo, a techno-shaman dance around the void. They conjure up these phantoms of utility, these spectral promises of a better tomorrow, built on the bones of yesterday’s discarded dreams. It’s a leap into the black, a wager on the unknown, a bet that this particular configuration of ones and zeros will somehow, magically, transmute the muddled, broken present into a gleaming, efficient future.

You got these smoke-and-mirrors projects, built on the hope that a useless contraption, some black box of ones and zeros, might somehow fix another useless contraption. It’s like trying to cure cancer with a Ouija board. A chain of maybes limping along on promises of future grace, a Rube Goldberg machine of wishful thinking, leading to a system that’s mostly a crippled beast,

Crypto, like systems research, operates in a speculative loop where each layer of promise is built upon another, teetering on the brink of collapse or breakthrough. It’s a recursive Ouroboros, where the digital snake devours its tail in hopes that, at some indeterminate point, it will transform into something greater. The faithful march forward, armed with algorithms and white papers, convinced that today’s inefficiencies, today’s absurd complexities, are but necessary sacrifices for a future that shimmers just out of reach.

But in the present, all we have are clunky protocols, Byzantine workarounds, and a marketplace more volatile than stable, more theoretical than real. The pitch is always the same: this new blockchain, this new token, this new consensus mechanism might solve the problems of the last. And so, the cycle continues, with each leap of faith promising that the next iteration, the next upgrade, will finally deliver on the grand narrative spun since the genesis block. But like a mirage in the desert, the closer you get, the further it fades, leaving you to wonder if the whole journey was just a clever illusion—a glitch in the matrix of finance and technology.

In this world, belief isn’t just currency; it’s the code that underpins everything. Yet for all its talk of decentralization and disruption, crypto often feels like it’s circling the same cul-de-sacs as the systems it claims to transcend, perpetually refining itself while never quite breaking free.

But the odds are long, the house always wins, and the prize is often a casino chip worth less than the cost of the ticket in.It’s a leap of faith, sure, but more like a bungee jump off a skyscraper without a cord.