John Biggs makes the case that “Crypto is falling because the people in it for the short term are leaving. Long term players – the Amazons of the space – have yet to be identified.”
I concur.
Having lived through (and been adversely effected by) the dot.com crash at the turn of the century, I see nothing more than a natural evolution of blockchain and crypto finding its feet while falling headlong into the chaos of a new financial and business framework.
A real market shakeout could establish the environment for sensible innovation to solve serious issues from fundamental direction of just how decentralized world commerce should be in coordination with the technical ability to quickly process the same commerce.
The technical stuff will be solved.
The policy and political stuff (or lack thereof) is a battle worthy of thoughtful consideration.
The opposing philosophies vying to shape today’s blockchain battles have the potential to define things well into the future. By the time much of the world has a chance to consider if blockchain and cryptos should be subject to more or less government regulation, the ramparts may have already been established.
It’s the end of crypto as we know it and I feel fine