I think crypto is deplorable purely on the amount of electricity it consumes. It’s pretty clear it offers a solution to a problem that doesn’t exist, unless that problem all along was give a subset of tech people a way to get rich off fools.
NFTs are kind of more like a big dog turd in the middle of the sidewalk that you could step in, there's really more of a joy in missing out rather than a fear of missing out, for most normal people.
I wouldn’t completely dismiss all cryptocurrencies, unless it was Bitcoin being the only one that exists.
Stablecoins are for those that cannot let go of the traditional system. They will all go to zero.
Best part is, its extreme volatile pricing makes it pointless as a 'currency' and completely useless for merchants accepting payments, but perfect as a ponzi scheme. Why do you think not only Stripe has dropped it for payments, but now its somehow 'A store of value' instead of it being an electronic cash system?
Therefore 'Bitcoin' (and its blockchain) has failed in each category except for being a Ponzi scheme and is more pointless than the majority of the other blockchains and coins.
> Stablecoins are for those that cannot let go of the traditional system. They will all go to zero.
I hear that the banks and the payment processors are shaking in their boots over how better Bitcoin is against the 'traditional system' other than for speculation or ponzi schemes. /s
Let’s see what happens next.
Exactly. The banks are rubbish at this. It's obvious to see how a proper stablecoin being used for the same purpose in Canada, or any other country. After all, it isn't affected by Bitcoin's volatile price in any way which that is also my point.
> Let’s see what happens next.
I'll tell you what happens next: Bitcoin being likely to lose its value once again due to its extremely volatile nature.
Sure, it may go up briefly too but in every scenario (including the Bitcoin donations), they will always want to cash it out to USD (or even a proper stablecoin) rather than 'hold it' or use it as a currency.
It’s like watching someone rearranging deck chairs on a sinking ship. We have life rafts here, you just need to take one of these orange pills.
I've already taken the orange pill years ago but sold some at >$60k.
It makes even more sense to sell it to (USD, USDC) and buy back in lower.
If they can consume less electricity than "normal" banking, then they aren't a wast of energy.
Bitcoin Lightning will replace SWIFT simple math tells you that, it's never going to zero.
All fiat, stablecoins, eth, “crypto” etc will go to zero.
So it is not clear at all, in fact the only thing clear is that you have never used cryptocurrency.