/biz/ - Business & Finance

Before I begin: LOL ethereum is down 20%, I hope that slow useless pile of shit goes down to a penny.

The concept of cryptocurrency is great, but it has one problem that at present makes the whole concept a (relatively) worthless pile of shit:

There is no significant economic activity that benefits from cryptocurrency and the potential for growth is crippled by establishment policy.

Right now crypto is competing against fiat in the drug and gambling markets.
This is not significant.
The entire rise in price is from crypto actually selling itself on the gambling market as a gambling product, not from gamblers using it as an alternative to fiat for payment.

This is extremely unstable and will not last as the economy begins to feel the icy claws of reality tighten around its throat - no one wants to buy western debt, innovation is at a standstill (AI is a meme, it just consolidates power, doesn't actually lead to invention), conquest is at a standstill (no war in syria or north korea, just shitty old africa), and YOU are going to have to make up the difference. Interest rates are going up and quality of life is going down.

Crypto is utterly useless within this system of society. The drones ('normies' + most all of your sort) already have all the "payment solutions" they need. They do not care about any of the principles, they are totally integrated into the machine and have zero self awareness let alone self interest.
Also the banks will not cut you into their business for the privilege of holding on to the savings of a tiny minority of 'cyberpunk futurists'.

You have no room to grow here and you never, ever will without completely changing the rules of the game.

The concept of cryptocurrency is great, but it has one problem that at present makes the whole concept a (relatively) worthless pile of shit:

There is no significant economic activity that benefits from cryptocurrency and the potential for growth is crippled by establishment policy.

Right now crypto is competing against fiat in the drug and gambling markets.
This is not significant.
The entire rise in price is from crypto actually selling itself on the gambling market as a gambling product, not from gamblers using it as an alternative to fiat for payment.

This is extremely unstable and will not last as the economy begins to feel the icy claws of reality tighten around its throat - no one wants to buy western debt, innovation is at a standstill (AI is a meme, it just consolidates power, doesn't actually lead to invention), conquest is at a standstill (no war in syria or north korea, just shitty old africa), and YOU are going to have to make up the difference. Interest rates are going up and quality of life is going down.

Crypto is utterly useless within this system of society. The drones ('normies' + most all of your sort) already have all the "payment solutions" they need. They do not care about any of the principles, they are totally integrated into the machine and have zero self awareness let alone self interest.
Also the banks will not cut you into their business for the privilege of holding on to the savings of a tiny minority of 'cyberpunk futurists'.

You have no room to grow here and you never, ever will without completely changing the rules of the game.