Everybody knows market cap is directly proportional to real world value and usefulness.
Comment on Please bro
Tollana1234567@lemmy.today 2 months agocrypto was the previous shiny new toy until it dint work, now AI will go through the same fate.
prosecute_traitors@lemmy.world 2 months ago
echodot@feddit.uk 2 months ago
There is always someone who reckons they can get something from nothing. Also long as they exist the bubbles will continue
Knock_Knock_Lemmy_In@lemmy.world 2 months ago
The market cap of crypto is currently at all time highs.
jaennaet@sopuli.xyz 2 months ago
Riiight, and how much of that is due to things being in actual “real-world” use, and how much of that is due to speculation?
Knock_Knock_Lemmy_In@lemmy.world 2 months ago
Oh yes. A huge amount of speculation. Just like NVDA.
My point is that you can say a lot of negative things about crypto, but you can’t say it doesn’t work. It definitely works.
MadBigote@lemmy.world 2 months ago
Works, as in what exactly?
merc@sh.itjust.works 2 months ago
It doesn’t work as a currency. It “works” as a speculative investment in that the bubble hasn’t yet popped.
But, what if the bubble doesn’t actually pop, and the prices remain at the current levels, more or less, for another couple of decades. If that happens, will cryptocurrencies be seen to “work”?
Mika@sopuli.xyz 2 months ago
I own crypto because I believe in idea of decentralised money, but I acknowledge that current solutions are just all bad in one way or another. If fiat disappeared tomorrow and everyone would be forced to use crypto daily, it would be a shitshow.
Knock_Knock_Lemmy_In@lemmy.world 2 months ago
From an end UI perspective, certainly.
But if SWIFT was suddenly replaced by a blockchain technology then the world wouldn’t even blink.
Mika@sopuli.xyz 2 months ago
You kidding? How many transactions per second bitcoin blockchain can do?