y'all have been saying crypto will collapse for over a decade now
Buying nonsense like memecoins will send your money to zero, but stuff like BTC and ETH, while heavily volatile, has nonetheless retained significant value through terrible economic conditions
I think the issue is that asset bubbles are still bubbles and they do eventually deflate (or worse, pop), and the lack of intrinsic value to the product (similar to any overpriced commodities) is what creates a lot of risk of collapse.
This is one of the reasons why even regulating crypto at all is controversial: regulation means legitimacy. But there's also the risk that a subsequent government simply bans them altogether, using their lack of inherent value to get around the takings clause.
An illegal thing can still run, but if financial institutions aren't willing to touch the asset (or dump them right before they're made illegal), then it can still collapse in value even if it's not dependent on government backing like most currency.
Things within the crypto ecosystem have collapsed, and there's a reason I consistently always tell people they're probably better off never touching memecoins and only buying NFTs if they have a reason for wanting the NFT in and of itself, not to just flip later.
At some point, you gotta drop this smug, intellectually lazy crap and actually grapple with the fact that blockchains are here to stay, even if you don't personally want to ever use them yourself
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Buying nonsense like memecoins will send your money to zero, but stuff like BTC and ETH, while heavily volatile, has nonetheless retained significant value through terrible economic conditions
This is one of the reasons why even regulating crypto at all is controversial: regulation means legitimacy. But there's also the risk that a subsequent government simply bans them altogether, using their lack of inherent value to get around the takings clause.
You can punish people for using them, but you will never make blockchains go away.
It becomes a toxic asset overnight.
But crypto itself endures.