Posts: 0 Threads: 0 Joined: N/A July 17, 2022 at 10:38 PM this crash is bad considering it has lost a lot of value Posts: 54 Threads: 0 Joined: N/A For me, this is a good thing, at least I can buy game graphics cards at a better price. Posts: 1 Threads: 0 Joined: N/A July 19, 2022 at 11:33 AM It's both.
The crash has dampened interest in crypto which will allow authorities to implement possibly destructive regulation without much pushback.
On the other hand it's flushed out alot of shit and made it less lucrative for scammers.
Crypto is the future and governments are already looking at the technology. A central bank digital currency will become the standard at some point. Imagine the central bank having a bitcoin ledger for USD but only they have access to it. It's inevitable. There are some brilliant and also incredibly scary scenarios with this though. Posts: 30 Threads: 0 Joined: N/A The crypto crash is a good thing. This is reminiscent of the dot com bubble in that we are going to see many worthless speculative assists go the way of the Dodo while the Amazons and Microsofts of Crypto rise to the top. I personally am betting money, obviously, on bitcoin and Monero. “In all of us, even in good men, there is a lawless wild-beast nature, which peers out in sleep.”
― Socrates
Posts: 12 Threads: 0 Joined: N/A (July 17, 2022, 08:50 PM)Finkenstein Wrote: Crypto is most definitely the future of all economics, but there's still a long road ahead to reach that point. These kind of events are part of the process to mature the technology and mindset of people, businesses, and governments (overall market). Variations in the price are normal though, everything on an open market suffers variations in value and price, Adam Smith wrote very detailed information on how this works almost three hundred years ago. Crypto is absolutely not the future of economics. All of cryptos value comes from being able to price it to fiat currency like the dollar. It will always just be a speculative asset even if the government doesn't outright ban it all eventually. Posts: 139 Threads: 0 Joined: N/A (July 19, 2022, 06:37 PM)whatawonderfulwr Wrote: (July 17, 2022, 08:50 PM)Finkenstein Wrote: Crypto is most definitely the future of all economics, but there's still a long road ahead to reach that point. These kind of events are part of the process to mature the technology and mindset of people, businesses, and governments (overall market). Variations in the price are normal though, everything on an open market suffers variations in value and price, Adam Smith wrote very detailed information on how this works almost three hundred years ago.
Crypto is absolutely not the future of economics. All of cryptos value comes from being able to price it to fiat currency like the dollar. It will always just be a speculative asset even if the government doesn't outright ban it all eventually. I stand corrected, thank you! Yes, what I meant to say actually is... I believe blockchain technology, developed and tested by crypto, is the future of holding digital assets and property, crypto is indeed a gambling casino for speculators for the most part, I think is a better description of my thoughts... Posts: 14 Threads: 0 Joined: N/A Of course it's good. You can grab more for a better price. Plus it's healthy for the overall growth of the industry. I'd say it is even coming a bit late, if we look at the pattern of the previous crashes. Posts: 27 Threads: 0 Joined: N/A It's not a crash it's discount Posts: 12 Threads: 0 Joined: N/A (July 20, 2022, 07:22 PM)Finkenstein Wrote: (July 19, 2022, 06:37 PM)whatawonderfulwr Wrote: (July 17, 2022, 08:50 PM)Finkenstein Wrote: Crypto is most definitely the future of all economics, but there's still a long road ahead to reach that point. These kind of events are part of the process to mature the technology and mindset of people, businesses, and governments (overall market). Variations in the price are normal though, everything on an open market suffers variations in value and price, Adam Smith wrote very detailed information on how this works almost three hundred years ago.
Crypto is absolutely not the future of economics. All of cryptos value comes from being able to price it to fiat currency like the dollar. It will always just be a speculative asset even if the government doesn't outright ban it all eventually.
I stand corrected, thank you! Yes, what I meant to say actually is... I believe blockchain technology, developed and tested by crypto, is the future of holding digital assets and property, crypto is indeed a gambling casino for speculators for the most part, I think is a better description of my thoughts... Blockchain technology has an extremely small amount of use cases outside of the digital world and that's really all that matters. Digital assets are always going to be scams and most aren't ever really held on the blockchain because it's too expensive. Posts: 30 Threads: 0 Joined: N/A (July 20, 2022, 07:22 PM)Finkenstein Wrote: (July 19, 2022, 06:37 PM)whatawonderfulwr Wrote: (July 17, 2022, 08:50 PM)Finkenstein Wrote: Crypto is most definitely the future of all economics, but there's still a long road ahead to reach that point. These kind of events are part of the process to mature the technology and mindset of people, businesses, and governments (overall market). Variations in the price are normal though, everything on an open market suffers variations in value and price, Adam Smith wrote very detailed information on how this works almost three hundred years ago.
Crypto is absolutely not the future of economics. All of cryptos value comes from being able to price it to fiat currency like the dollar. It will always just be a speculative asset even if the government doesn't outright ban it all eventually.
I stand corrected, thank you! Yes, what I meant to say actually is... I believe blockchain technology, developed and tested by crypto, is the future of holding digital assets and property, crypto is indeed a gambling casino for speculators for the most part, I think is a better description of my thoughts... This isn't totally true. People use bitcoin and monero to purchase actual commodities not just speculate and just because the US dollar is hegemonic doesn't mean it always will be and that would mean that bitcoin would become hegemonic and gain stability but that is unlikely, but, people use monero and bitcoin to make purchases online all the time. “In all of us, even in good men, there is a lawless wild-beast nature, which peers out in sleep.”
― Socrates
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