How Does Number Go Up: Inside Crypto'S Wild Rise And Staggering Fall Explain Crypto'S Collapse?

2026-01-15 08:25:37 233
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3 Answers

Ian
Ian
2026-01-17 18:15:25
'Number Go Up' reads like a thriller where the villain is collective delusion. The collapse wasn’t just one event—it was death by a thousand cuts: rug pulls, algorithmic stablecoins failing, and exchanges freezing withdrawals. The book argues crypto’s downfall was inevitable because its growth relied on Ponzi-like dynamics; early investors got rich recruiting new believers, but eventually, the music stopped. I found the breakdown of Terra/Luna especially chilling—how a 'stablecoin' could evaporate billions overnight because its backing was circular logic.

The author doesn’t let regulators off the hook either. Their slow response created a Wild West where scams flourished. But what’s fascinating is how crypto true believers kept doubling down, even after collapses. The book captures this cultish devotion perfectly, comparing it to religious fervor. It’s not just finance; it’s psychology, sociology, and a bit of tragedy.
Xavier
Xavier
2026-01-19 15:16:53
The book 'Number Go Up' dives into crypto's rollercoaster ride with a mix of sharp analysis and Wild anecdotes. It doesn’t just blame the usual suspects like market speculation or regulatory crackdowns—it peels back layers to show how systemic overconfidence and flawed incentives fueled the bubble. The author paints a vivid picture of projects built on hype, where tokens soared because everyone believed they would, not because they had real utility. Then comes the crash, where leverage, illiquidity, and outright fraud turned the whole thing into a house of cards.

What stuck with me was how human nature played a role. Greed blinded even smart people to obvious risks, while echo chambers like crypto Twitter amplified irrational optimism. The book also highlights how 'decentralization' often meant no accountability—when things collapsed, there was nobody to hold responsible. It’s a cautionary tale that feels less about technology and more about how easily financial manias repeat themselves, just with new jargon.
Claire
Claire
2026-01-20 07:35:36
Zooko’s Triangle—the idea that a system can’t be decentralized, secure, and scalable all at once—haunts 'Number Go Up.' The book shows how crypto’s promises crashed into reality: blockchains were too slow for mass adoption, 'trustless' systems required blind faith in code, and anonymity enabled fraud. The collapse wasn’t sudden; it was the result of ignoring these cracks. Projects like FTX pretended to solve problems while hiding insolvency, and the book dissects their sleight of hand brilliantly. It left me thinking crypto’s biggest flaw wasn’t tech but the refusal to admit its limitations.
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