Does the potential bankruptcy of FTX, the world’s third largest digital asset trading exchange by volume, mean anything for the future of cryptocurrencies? Share your thoughts in the discussion thread below.
Despite this latest implosion of a poorly conceived and executed scheme, the use case for blockchain-based projects in general, as the foundation for Web 3.0 (e.g. Ethereum), and cryptocurrencies in particular, as insurance against the ineluctable debasement of fiat currencies (e.g. Bitcoin), has not changed.
In its infancy, the auto industry sported over 250 manufacturers in the U.S. alone. After a couple decades there were less than 50. Now there are only a handful worldwide. The best crypto projects will survive, most will die, and, perhaps, some new ones will flourish. In the long run the concept is here to stay.
Here It is not the crypto per se (it is perfectly true still), but one man’s extreme pigheadedness. It is yet another example of man’s emotional immaturity. And stupid delusions of grandeur. The total lack of responsibility and utter recklessness to the consequences of one’s action is epitomized here. Not by just this one weirdo (albert brilliant) but ALL who aided and profited with him. Greed and power threw away any ethical or moral judgement, if he or they ever had any.
The dollar is god! People do ungodly things to achieve it. It is worthless, a form of digital currency. Still people impart a value to it. Bitcoin is the exchange of one perceived value for another. Bitcoin will win because supply is limited. Inflation is the debasement of currency by increasing the quantity.
Today cryptocurrencies seem to be a solution looking for a problem. Someday, as the lemmings march off into the rapture of CBDCs, that problem may present itself. They aren’t going anywhere. Just keep your fingers crossed there are enough windmills filling up those amber waves of grain to keep the system viable.
Despite this latest implosion of a poorly conceived and executed scheme, the use case for blockchain-based projects in general, as the foundation for Web 3.0 (e.g. Ethereum), and cryptocurrencies in particular, as insurance against the ineluctable debasement of fiat currencies (e.g. Bitcoin), has not changed.
In its infancy, the auto industry sported over 250 manufacturers in the U.S. alone. After a couple decades there were less than 50. Now there are only a handful worldwide. The best crypto projects will survive, most will die, and, perhaps, some new ones will flourish. In the long run the concept is here to stay.
Here It is not the crypto per se (it is perfectly true still), but one man’s extreme pigheadedness. It is yet another example of man’s emotional immaturity. And stupid delusions of grandeur. The total lack of responsibility and utter recklessness to the consequences of one’s action is epitomized here. Not by just this one weirdo (albert brilliant) but ALL who aided and profited with him. Greed and power threw away any ethical or moral judgement, if he or they ever had any.
The dollar is god! People do ungodly things to achieve it. It is worthless, a form of digital currency. Still people impart a value to it. Bitcoin is the exchange of one perceived value for another. Bitcoin will win because supply is limited. Inflation is the debasement of currency by increasing the quantity.
Only 1 true alt coin the others are a waste of time and space.
Bitcoin- 1 coin to bind them 1 coin to rule them all.
With cbdc around the corner the only alternate digital money will be bitcoin with its limited supply.
The others don't stack up.
That said it isn't a replacement for gold.
Gold backed crypto could work otherwise, its nothing at the end of the day.
Today cryptocurrencies seem to be a solution looking for a problem. Someday, as the lemmings march off into the rapture of CBDCs, that problem may present itself. They aren’t going anywhere. Just keep your fingers crossed there are enough windmills filling up those amber waves of grain to keep the system viable.
oops, should be albeit, sorry!