Hey there, crypto enthusiasts! If you’ve been scrolling through X lately, you might have stumbled upon a fascinating post by hitesh.eth (@hmalviya9) that’s got everyone talking. Posted on July 2, 2025, at 10:10 UTC, this tweet dives deep into the evolution of money and cryptocurrency, sparking a lively debate. Let’s break it down and explore what it means for the blockchain world—especially for those of us at Meme Insider who love digging into the latest trends in meme tokens and beyond.

The Original Idea: Money as a Collective Agreement

Hitesh.eth kicks off with a bold statement: money started as a "collective agreement among peers" before transforming into an "enforced system." Think about it—back in the day, people traded goods or used shells and beads because they all agreed those things had value. It was a mutual trust thing, no central authority needed. Over time, though, governments and banks stepped in, turning money into something regulated and controlled.

This historical perspective sets the stage for crypto’s rise. Bitcoin and other cryptocurrencies came along as a way to bring back that original spirit—decentralized, opt-in systems where people could agree on value without middlemen. Pretty cool, right? But here’s where it gets interesting.

Crypto’s Soul: Where Did It Go?

The second part of Hitesh.eth’s post hits hard: "Crypto revived its original spirit, but lost its soul due to the absence of shared moral values among its participants." Ouch! What does this mean? Well, while crypto promised freedom and innovation, the community hasn’t always lived up to the ideals of trust and fairness that early adopters dreamed of.

Take a look at the replies to the tweet. Magnus (@he_is_lawal) agrees, saying, "we got most of the tech, not the values." Others, like AEKANT (@aekanttikariha), point out that crypto is "filled with wannabes," suggesting a lack of genuine commitment to ethical principles. Even Crypto Jo (@isaacjoseph926) echoes this, noting that money began with mutual trust but crypto struggles without a "common moral compass."

The Turning Point: Pre- and Post-ICO Era

Some users, like TolyaDV, add nuance by suggesting that not all cryptocurrencies fit this narrative. Hitesh.eth himself chimes in, hinting that the "moral damage" started post-2016 with the rise of Initial Coin Offerings (ICOs). Back in the pre-2016 days, projects like Bitcoin and early Ethereum were driven by a collective vision. But as ICOs flooded the market, speculation and greed took over, shifting the focus from community values to quick profits.

This aligns with what we’ve seen in the meme token space at Meme Insider. Many meme coins start with a fun, community-driven vibe, but some devolve into pump-and-dump schemes. It’s a reminder that technology alone isn’t enough—people’s intentions matter.

What Can We Learn?

So, has crypto lost its soul? Maybe not entirely. Hitesh.eth and the thread suggest that the original spirit is still there, especially in projects rooted in collective agreement—like Bitcoin or early Ethereum. But the challenge lies in rebuilding that moral foundation. As DeFi CJ puts it, cryptocurrency is "the same as money, just in a new wrapper"—it’s up to us to decide what values we wrap it in.

For blockchain practitioners, this is a call to action. Whether you’re into meme tokens or serious DeFi projects, fostering a community with shared ethics could be the key to reviving crypto’s soul. Check out Meme Insider’s knowledge base for more insights on how to stay informed and engaged in this evolving space.

Join the Conversation

What do you think? Has crypto lost its way, or is there hope for a moral comeback? Drop your thoughts in the comments or hop over to X to join the discussion with hitesh.eth and the community. Let’s keep the conversation going—after all, the future of crypto is in our hands!