Mark Mason
Well-known member
This Is Not the Crypto Revolution You Were Looking For
The cryptocurrency revolution is over. It died. You can all go home now.
Hah. Not quite. The technological and financial uprising enabled by blockchain and associated platforms is just warming up. However, it’s entirely fair to say that, while recent market corrections haven’t even remotely erased the progress made by cryptocurrency over the last few years, we certainly have been able to clearly identify a good chunk of the “revolution” as nonsense. Crypto is marching on, and is going to win sooner rather than later, but the most recent wave of brave blockchain fury fell flat on its face, for a few reasons.
Price far outperformed simple sound money value
The first red flag was the incredible rise in price. Yes, while manipulation-free supply and trustless issuance makes this stuff a lot more valuable than fiat currency in the long term, this shouldn’t have kicked in at nearly that pace. That insane price spike, in particular that of 2017, should have indicated that something else was going on, that crypto was being valued for something other than its sound money properties. That other thing turned out to be speculation, and we’re seeing the dark side of that today.
Read more: https://www.dashforcenews.com/this-is-not-the-crypto-revolution-you-were-looking-for/
The cryptocurrency revolution is over. It died. You can all go home now.
Hah. Not quite. The technological and financial uprising enabled by blockchain and associated platforms is just warming up. However, it’s entirely fair to say that, while recent market corrections haven’t even remotely erased the progress made by cryptocurrency over the last few years, we certainly have been able to clearly identify a good chunk of the “revolution” as nonsense. Crypto is marching on, and is going to win sooner rather than later, but the most recent wave of brave blockchain fury fell flat on its face, for a few reasons.
Price far outperformed simple sound money value
The first red flag was the incredible rise in price. Yes, while manipulation-free supply and trustless issuance makes this stuff a lot more valuable than fiat currency in the long term, this shouldn’t have kicked in at nearly that pace. That insane price spike, in particular that of 2017, should have indicated that something else was going on, that crypto was being valued for something other than its sound money properties. That other thing turned out to be speculation, and we’re seeing the dark side of that today.
Read more: https://www.dashforcenews.com/this-is-not-the-crypto-revolution-you-were-looking-for/