Crypto is pitched as a decentralized alternative to central bank currencies. Which, I think, is a great idea, especially with CBDCs (which are really going to be the catalyst for fascism on steroids, especially in quasi-democracies) on the horizon.
My biggest problem with crypto is that most people who buy and hold it are not truly libertarians looking to scale up usability in the space. They're really just gamblers who want their investment to go to $1M per bitcoin so they can convert to fiat (the irony) and retire to the Bahamas and life the big life.
Otherwise, why does the entire industry keep banging on about $100K EOY?
And I won't begrudge you that, after all, it's your money, isn't it?
But until crypto makes a hard pivot from being a speculative investment to an ecosystem encouraging day-to-dy usage, I just don't believe it has any long-term usage.
In addition, I think Zuckerberg had an extremely brilliant idea when he wanted to make a stablecoin tied to a basket of currencies - it's be stable enough to use on a day-to-day basis, and it'd still be a crypto, at least theoretically.
My biggest problem with crypto is that most people who buy and hold it are not truly libertarians looking to scale up usability in the space. They're really just gamblers who want their investment to go to $1M per bitcoin so they can convert to fiat (the irony) and retire to the Bahamas and life the big life.
Otherwise, why does the entire industry keep banging on about $100K EOY?
And I won't begrudge you that, after all, it's your money, isn't it?
But until crypto makes a hard pivot from being a speculative investment to an ecosystem encouraging day-to-dy usage, I just don't believe it has any long-term usage.
In addition, I think Zuckerberg had an extremely brilliant idea when he wanted to make a stablecoin tied to a basket of currencies - it's be stable enough to use on a day-to-day basis, and it'd still be a crypto, at least theoretically.