Hacker News Reader

All of that's assuming that demand will continue. What this will do is remove crypto from the mainstream. And without paid celebrity endorsements, where will the new dumb money inflow come from? And if that dries up, how will the mining rigs pay their electricity bills?

View on HN

A lot of people use crypto for utility, which is why it doesn’t go to zero in bear markets. Not everyone needs or wants crypto tokens, but those that do form the base of the ecosystem. You can call it dumb money if you want to be elitist, but it’s the same so called dumb as any consumer activity.

Reply on news.ycombinator.com