Anyone else feel that the crypto crash will get crypto back on track?

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10 points·matthewmcneely··4 comments

Doubtful, still mostly a hammer looking for nails and when the prices come back, so will the scum. There are core issues that do not jive with societal expectations and norms. This gives time for others, outside of crypto, to adopt the good parts of Blockchain experiments without the crypto part. This is what I am hopeful for

Crypto prices haven't crashed enough to really discourage people.

For instance those bored apes are trading at about the same in ETH that they were trading at in April. Now ETH is down significantly since then, but you're not going to see tax loss harvesting until other assets are doing well and people have capital gains to write off.

I think it (price deflation) has definitely discouraged many.

But back to my point, we only ever seem to talk about crypto from "how much is it worth compared to a dollar?" When did the utility of an alternate currency take the backseat, and how long must it stay there? (he asked rhetorically)...

Despite what people might tell you the only market for crypto is "vibes". You can tell the bad bones of the market since a single idea (Bitcoin) got renamed "crypto" -- a word short for cryptography which has nothing to do with these currency systems.

I'm not sold on cash being in our longterm future, but I can tell you the blockchain backed free from corporate overlords is also not in the tea leaves. If you're defending crypto today and hoping for a resurgence you are definitely not going to like the resulting success if it ever does come. It will be part of a corporate hellscape or a tool backed against some sick merit system -- who knows.

Money systems cannot be improved to help people. They are only useful to the people in power.

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