The fact that I've seen many, many rejoinders to "crypto has no long term value" in the "well, just short it then" vein makes me think these talking points must be what the cool kids on r/Bitcoin or somewhere are spewing.
I don't necessarily believe all crypto is going to zero, but for Bitcoin specifically I believe (a) that proof of work is definitely unsustainable as the market cap grows and (b) given the power of miners in the BTC protocol, I have a difficult time believing they'll ever transition off PoW (e.g. compared to what ETH has done).
But, of course, shorting an asset requires conviction not just that its value is going down, but when. I would easily bet that within some decent extended time period, say 15 years, that the value of BTC will be zero or near zero. I am unaware how to short an asset feasibly over that long of a time period.
I don't necessarily believe all crypto is going to zero, but for Bitcoin specifically I believe (a) that proof of work is definitely unsustainable as the market cap grows and (b) given the power of miners in the BTC protocol, I have a difficult time believing they'll ever transition off PoW (e.g. compared to what ETH has done).
But, of course, shorting an asset requires conviction not just that its value is going down, but when. I would easily bet that within some decent extended time period, say 15 years, that the value of BTC will be zero or near zero. I am unaware how to short an asset feasibly over that long of a time period.