Ask HN: Will crypto currencies survive past this market downturn?
7 comments
There's an argument that a lot of the money that would have flowed into cryptocurrency has flowed into AI. Also, in the long term, there could be a generational shift from traditional investments such as real estate to nontraditional investments such as cryptocurrency and DeFis. I'd watch Gen Z preferences.
I truly hope not! Owning a house has a bit more real world value than a NFT
"According to research from Gemini and other industry sources, more than 90% of cryptocurrency holders are either Gen Z or Millennials—a concentration that underscores the fundamental demographic shift in investment behavior and wealth accumulation strategies." https://www.coinasity.com/post/crypto-adoption-by-generation.... "The sustainability of this trend depends partly on cryptocurrency's ability to demonstrate long-term value preservation and institutional legitimacy to satisfy fiduciary requirements as younger investors mature."
Eventually "cryptocurrencies" will go back to what they really are: a digital collectibles or a video-game like entertainment, or kinda like digital escape rooms, or an alternative money for illegal or black/gray market activity.
After that crypto will be disconnected from the traditional financial system (so called "TradFi").
But it will take a very long time until we'll get there, since lots of decision makers were already "bribed" with it, and now they will "talk their own book" by artificially prolonging the Crypto's life even when it doesn't make sense.
Wide CBDC adoption will be the final nail in the crypto's coffin. Same for quantum computers, but I'm sure that people will start inventing various quantum-resistant encryption and PoW/consensus schemes...
After that crypto will be disconnected from the traditional financial system (so called "TradFi").
But it will take a very long time until we'll get there, since lots of decision makers were already "bribed" with it, and now they will "talk their own book" by artificially prolonging the Crypto's life even when it doesn't make sense.
Wide CBDC adoption will be the final nail in the crypto's coffin. Same for quantum computers, but I'm sure that people will start inventing various quantum-resistant encryption and PoW/consensus schemes...
Of course they will. But not all of them will survive.
I think the only danger is quantum computers.
No