Is Crypto Dead?
(www.spectator.co.uk)
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Crypto is not dead.
What we are seeing in the cryptocurrency markets is a much needed draining of all ponzi scheme tokens and projects. What will remain in the cryptocurrency market after The Storm are only those tokens and projects with legitimate use cases and reasons to exist.
There is a very important function for cryptocurrency going forward, particularly in the realms of intellectual property and data sovereignty.
The future of music, film, and video games is one where smart contracts allow the transacting of these digital assets in an open and fair market. Presently it is the publishers, producers, and record companies that hold the ultimate power over intellectual property, leaving the original creator with very little agency in the sale and distribution of their product. That will all change, and cryptocurrency will allow for that change to occur.
So too will we see a radical shift in the way our data is transacted through our social media, medical establishments, tax centers, insurance agencies, and banking institutions. Our data presently does not belong to us. We give it away freely, and allow for elite oligarchs to compile it and sell it. Cryptocurrency will allow for the profits of this data to flow in the direction of those who originally created that data; i.e. the people.
We need to divorce ourselves of the simple notion that cryptocurrency can only be used as a stand in for the U.S. dollar, and as a hedge against inflation. If you invest in crypto using that hypothesis you will ultimately find yourself a bag holder of the latest hyped token. Invest wisely. Read the White Papers of projects. Decide for yourself which projects have actual real world use cases for their coins, and teams that are talented and well connected enough to see their vision come true.
In short; do your own research.
Well Said! Here is a future token with a focus on the premium end products.
Future is Now
No comment from the linked article?
Read my comment. I addressed quite a few points from the article.
I also presented a solution to the problems addressed in the article.
It is entirely possible for the article to be correct on some assertions, and wrong on others. They are correct that the pyramid schemes of cryptocurrency are coming to an end. They are wrong on the assertion that cryptocurrency as a whole is going to vanish off the face of the Earth.
Anyone who believes that there is no future for cryptocurrency is both incredibly naïve and extremely uninformed on the real world use cases of cryptocurrency, and why they are needed so direly in our world.
Cryptocurrency will, I contend, ultimately replace our corrupt stock market. When the Gamestop bubble comes crashing down, I believe it will bring with it a number of corrupt banking institutions, and ultimately lead to a great disengagement and distrust of the current market dynamics and status quo that will lead to a future where stocks are tokenized on the block chain, and all transactions are transparent for all to see the legitimacy of the market and to enshrine trust once more in our economy.
In essence, every single person can create their own currency when we take into account your time, your skills, the quality of your work, etc. Technically, that is the really easy part.
Crypto is perfect for replacing the physical letter stating your credit line. Except, most people are bad at banking. The more complex a society, and the proliferation of assets, the moment of reckoning will come.
I my view, current crypto is not the end stage, but a primal iteration on the road to full emancipation. Till then, and in the current climate, I see no advantage in crypto, but rather I see it as a trap, that locks-in what you have, especially with the push to digitization of your person. Meaning, as a human, you have to either conform to the access rules, or you won' t be able to play int he sandbox.
I will simply ride out this storm with what has shown to be storm resistant: Gold, Silver, food, land, water, brass, and off-grid-electricity-generation.
some people see it your way, others as the future. I've had changing opinions and atm I'm kind of one foot in each camp. It is the future, and yet there will be a point when the digital society is going to make it really hard to live life relatively freely.
privacy coins are a good solution to that, but as max igan suspects, up to a certain time, possibly 2025 our relationship with the internet might change so much to internet access, and therefore even privacy coins might be difficult to use.
but the 1 certain thing is that there until then there is going to be a several massive surges of money flowing into crypto, which if positioned early, will profit us bigly. and then we can take that wealth into gold, silver, off-grid living