Meet the Crypto Cult, the Colorful Cast of Cryptocurrency's Wild West

Crypto was the Wild West, and the crypto cult shot itself in the foot.

The Wild West identity was originally assigned to crypto for the aforementioned reasons.

The Wild West narrative goes much deeper in describing the cast of characters who make up the crypto cult.

Crypto cult has led to spats of name-calling and threats which have sowed seeds of doubt, inside and outside the crypto community.

Businessmen from the Big City: The last subset of the crypto community is the finance and tech elites who would rather not be associated with the rest of the crypto cult, but pose their own threats to the community.

While the rest of the crypto cult is turning off potential users, the big businessmen could scrap much of the decentralized idea behind blockchain as many of the use cases proposed by corporations directly contradict the idea of decentralization.

Some blockchain applications make sense under one umbrella, but institutional involvement will bring a definitive ending to the crypto's Wild West years.

If the crypto cult wants to continue their lucky streak, a change in attitude must take place.

The crypto cult has embraced their mystique and unintentionally thrown up walls around the industry that threaten to suffocate the entire sector if not dismantled with care.

While cutting down scams, promoting working, and curtailing illegal activity are important to shoring up the industry as a whole, the biggest barrier to the continued success of the crypto cult is themselves.