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Calling this an obituary is rather hyperbolic. It is, though, yet another indication that crypto is losing momentum among mainstream consumers. Perhaps that's
by mumblemumble 4y ago
Calling this an obituary is rather hyperbolic.
It is, though, yet another indication that crypto is losing momentum among mainstream consumers. Perhaps that's simply collateral damage from a downturn that's affecting all segments of the economy. But, then again, perhaps not. It strikes me as a distinct, qualitatively important development that's worth observing carefully rather than dismissing out of hand.
- monero-xmr 4y agoI mean, META stock has been a worse investment year over year than bitcoin. I know everything is relative, but the "momentum losing" I think is fueled by people who vehemently dislike this technology more than what the market is determining
- mumblemumble 4y agoYou can't draw a distinction between people who dislike an asset and "the market" like that. The market includes everyone, not just a select group of people who hold a specific set of opinions. Also, this focus on the USD exchange rates of specific cryptocurrencies is akin to moving the goalpost right out of the stadium and into, like, a tennis court or something. The shift this article is talking about is not about prices, it's about mainstream institutional support for the asset class. That's not driven by exchange rates, per se, because they're not speculating on it, they're simply enabling their clients to do so. It's more driven by things like whether they believe there's a stable consumer market that can be relied upon to cover their cost of operating in the space and provide some profit as well.