Bitcoin To $0? Crypto Crash Of 2022

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OK, I need to take a break by calling bitcoin below bullish highs at say $13,000. I need to write a strategy piece that no one will read but answer the question: whether or not crypto is a “hula hoop” as people are asking.

There is only one call to make in a bounce or crash. Is the asset real or is it a pile of junk going through a cycle of boom and doom of public market hype that spectators love to gamble but aren’t really long-term assets?

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The call is as fundamental to crypto as it was to dotcom boomsters or nifty fives or tulip-bulbs of yours.

Many believe, especially now that bitcoin is crashing, that crypto has no “intrinsic” value. You can devise the internals, but the question boils down to: Is crypto just a pile of useless things?

Like any good exam practice, the answer is in the question. Manure also has intrinsic value.

Crypto has a value because it has a use case.

Crypto has much more use cases than horse dung and in many ways is more important than growing roses.

Basically, any cockroach you can return to a race has a value because anything a human can bet on has great utility and the difference between Kentucky’s $100 billion dollar a year racing industry and There’s a difference between a cheap supply of excellent. Burger Meat is only a matter of speculation use, and we know that there is a lot of gambling at the expense of crypto. At 1x sales, horse racing has an intrinsic value of $100 billion, with bitcoin, a revolutionary technology, only 3 times that of a transportation technology 100 years obsolete.

Meanwhile, the “black economy” is somewhere between 10% of total global GDP in developed countries and 40% of those insane developing economies where financial chaos rules. How Much Intrinsic Value to Crypto? BTW the black economy has about $1.5 trillion in “fiat” banknote cash going on, so crypto is a sideshow when it comes to nefarious transactions. Heaven knows how many trillions of “dodgy” fiat money are happily floating around inside the banking system, so don’t let this reduce crypto intrinsic value.

But speculation and criminal activity are only a small part of crypto’s intrinsic value.

The biggest value lies in its challenge for existing rental seekers. Like, as a small example, Bank.

Have you noticed how banks have upped their game since bitcoin came into the public consciousness? 3 days transfer gone, hello instant payment. You can feel the best of banks adopting the new reality of crypto and fintech. The finance of the old is now ‘Tradefi’ and is likely to be popularly known as ‘Trade Jazz’ in the times to come. It would be bizarre but no longer at the top of the pop.

The banking example is just the tip of an iceberg, and that iceberg is going to sink a lot of market abusive oligarchs, and they’re everywhere when you go looking for them. Crypto is the death of gatekeepers, which is why gatekeepers don’t like crypto, and gatekeepers have a lot of power to push back. Sadly for them and glad for us, you can’t put new technology back in its box. Crypto cannot be invented and if crypto is not adopted at every stage, backward people like horses as a form of transport will become obsolete.

What won’t be ‘crypto’ in 20 years?

On top of that crypto world will still sit bitcoinB T c
,

Even if it didn’t it would be any other crypto, starting as a nappens and going to the moon.

CBDCs (central bank digital currency) will not hold because they may never be programmable money. It could take a century for a country to risk its entire economy with no bugs or hacks in its sovereign currency, so private crypto will dominate future growth.

In a world where many people still think paper money is garbage and gold is the only currency, more than 1,000 years after some bright spark came up with the idea, it should come as no surprise that many people Thinking that crypto is garbage, especially during a crash. However, in a world where cow manure, or BS, is $20 a ton for most of us, tokens that unlock applications like DeFi, NFTs, Metaverse, a punt on the next moon, some quality wipes, While the worlds of commerce and governance may be turned upside down, capital markets may capture a percentage point or two of the $200 trillion market cap, and that’s well worth it.

Credit: www.forbes.com /

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