So I am a dumb guy and like all dumb guys I didn't really read the article and just kinda skimmed it but here's what I don't really get:
The article kinda suggests that the only way back for crypto is to reestablish consumer trust and that one of the most important ways to do that is with regulations around it.
But...isn't the whole pitch behind crypto the lack of regulation and decentralization??? If that goes away what is crypto brining to the table?
Some people with some power or at least media connections got duped and have a lot of crypto so they'd really really like it if crypto picked up again, that's what its bringing to the table.
Crypto is useful as a tool for moving assets around without a significant audit trail. There will always be a market for that type of thing, but no way will it ever be mainstream the way it was.
So I am a dumb guy and like all dumb guys I didn't really read the article and just kinda skimmed it but here's what I don't really get:
The article kinda suggests that the only way back for crypto is to reestablish consumer trust and that one of the most important ways to do that is with regulations around it.
But...isn't the whole pitch behind crypto the lack of regulation and decentralization??? If that goes away what is crypto brining to the table?
Some people with some power or at least media connections got duped and have a lot of crypto so they'd really really like it if crypto picked up again, that's what its bringing to the table.
Crypto is useful as a tool for moving assets around without a significant audit trail. There will always be a market for that type of thing, but no way will it ever be mainstream the way it was.
It is becoming obvious to everyone that blockchain that uses proof of work is a dead-end technology for 99% of crypto applications.
The biggest domino to fall will be when regulators outlaw POW coins and cryptomining. Which has already happened in some countries.
:xigma-male: