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It failed as digital cash (outside of some very limited niches), so they moved the goal post to "store of value." It's failed at that, and at being "digital gol
by api 4y ago
It failed as digital cash (outside of some very limited niches), so they moved the goal post to "store of value." It's failed at that, and at being "digital gold" or an inflation hedge.
It has also failed as a medium for digital assets now that the NFT craze is showing itself to be hollow and is collapsing. It's failed as a medium for decentralized organizations (DAOs) since they've all either been hacked to death or revealed to not actually be decentralized.
Where do they find a new well of hype now?
I still believe that the concept of decentralized cryptocurrency is technically viable, but the entire current cryptocurrency ecosystem would probably have to be burned to the ground for anything honest and well built and not structurally a hyperdeflationary decentralized Ponzi/pyramid scheme to get traction.