Rabbit holes can lead to echo chambers, but L.A.'s sold-out BLOCK-CON conference delivered both sides of the crypto coin last week. $4,100 was bitcoin's price on 8/21, the date of A Blockchain Penny For Your Thoughts? Media "Initial Coin Offerings." $5,500 is its price now. Wild-eyed optimism is a perennially favorite tonic, and was poured from the BLOCK-CON stage with clarion calls of "if you're in this room, you're early." On the other hand, self-styled angel investor Jason Calacanis, promoting a book, guffawed, cocooned in the Silicon Valley establishment's cooler view of crypto, a Dimon-esque critique in hipper clothing. His point: Show me the compelling crypto-products. Welcome to the world of pre-revenue revenue, Jason -- and check flights to Zug, Berlin and London, other crypto power centers.