Crypto in it's current state is a way for institutional investors to take from retail investors. If the institutional investors conspire to crash the market, they can make paper handed retail investors fold and then buy up the much cheaper coins before they explode in value again.
The other thing with Crypto is that even though some of them have proof of work or whatever attached to them, they're still just digital currency that can be easily manipulated. At this point, it's hard to actually tell the difference between crypto and the US dollar: both backed by nothing of value, one is just backed by the Gov't saying "trust me, bro".
Crypto in it's current state is a way for institutional investors to take from retail investors. If the institutional investors conspire to crash the market, they can make paper handed retail investors fold and then buy up the much cheaper coins before they explode in value again.
The other thing with Crypto is that even though some of them have proof of work or whatever attached to them, they're still just digital currency that can be easily manipulated. At this point, it's hard to actually tell the difference between crypto and the US dollar: both backed by nothing of value, one is just backed by the Gov't saying "trust me, bro".
This. Crypto isn’t going to disappear. Those that think it is are mistaken. This is what they want anyway, digitized currency. This is a bag-grab.