In the winds of crypto winter

Well, it was surreal while it lasted, by which I mean the 2017-18 cryptocurrency bubble. For a while there, Coinbase was #1 in the App Store, Bitcoin was above $10K, and there were more notional crypto zillionaires out there than you could shake a Merkle tree at.

Those were the crazy days. Now, though, a rude awakening has come. Now Bitcoin is down to $3200 and counting, other cryptocurrencies are down well over 90%, and worst of all, none of the billions of dollars which poured into cryptocurrencies during the bubble have led to anything even remotely like a killer app. Instead the crypto space remains a giant casino of penny stocks, with little to no utility outside of financial speculation. Don’t kid yourself — this is nothing like the dot-com crash.

[Read More]

Add a Comment

Your email address will not be published. Required fields are marked *