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> But now we see that crypto was indeed bullshit all along. Just looked it up. Between BTC, ETH & top stablecoins, crypto has $900B+ market cap and $60B+ in 2
by beambot 4y ago
> But now we see that crypto was indeed bullshit all along.
Just looked it up. Between BTC, ETH & top stablecoins, crypto has $900B+ market cap and $60B+ in 24-hour volume. I'm not saying your conclusions are wrong (though I disagree), just that you're calling the game "over" at the end of the first quarter based on one hype-cycle. I remember people doing something similar in the dotcom bust: "WWW is dead."
- EduardoBautista 4y agoThere have been multiple hype cycles for crypto. In over a decade, I have yet to see something priced in cryptocurrency. Pricing something in dollars and then converting that amount in cryptocurrency for the next 15 minutes is still a dependence on government backed currency.
- beambot 4y agoContrary to some peoples' understanding, replacing fiat currency for everyday purposes isn't the only viable application of crypto. As one example: There are already banks that use XRP as the international settlement medium. You'll also see a lot of conversation right now about central bank digital currencies (CBDC) that could plausibly utilize crypto in some fashion.
- CRConrad 4y ago> replacing fiat currency for everyday purposes isn't the only viable application of crypto. Stop it with the fake juxtaposition. Crypto is just as “fiat” as any other currency, including gold.
- CRConrad 4y ago> crypto has $900B+ market cap So more of a speculative investment asset than a currency, then? Currencies aren't usually said to have a “market cap”. Investment assets – i.e, shit stocks – do.