Cryptominium essays
How we see crypto, one idea a week
Each essay is one idea, backed by what we measure. Free to quote, copy and reuse with credit under CC BY 4.0. A new one every Tuesday.
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What a coin can do, and through whom
We ask every coin the same nine questions, from "can it be sold for dollars?" to "can it earn a return by itself?", and name whose permission each answer needs.
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Every coin depends on someone
Owning a coin is not the same as being the only one with power over it. We name who can freeze it, create more of it or change its rules, with the source for each.
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A price is not a sale
The price on the screen is the last trade. What you get is what a buyer pays you. In September 2026 the typical token lost 14.5% selling $100,000.