What we are seeing is the cryptocurrency market reinventing all the mechanisms the "traditional" banking industry has been using for decades. There is no disrup

What we are seeing is the cryptocurrency market reinventing all the mechanisms the "traditional" banking industry has been using for decades. There is no disruption when the whole thing is doing exactly the same just unregulated combined with extremely high risk. Cryptocurrencies will always have the problem of interacting with the real world, where people are not bound by smart contracts and do not behave "rationally". Not everything is codifyable, especially not people. > The 2018-2020 bear market was a true test of die hard crypto employees. Bitcoin went to $3k as the tech industry boomed. So many talented people capitulated and went to FAANG pa$ture$ but those of us who stuck it out also got paid. Only if they sold and this money came from other people who put it into this negative sum game. Remember that the true winners of it all are the electricity providers that are delivering the power to drive mining all those proof of work coins. The losers are the people who put in their money last and are left holding the bags.