is crypto going to be big within 1 year

30-07-2021, 06:24 AM

retrojunkie Wrote: I think it will be, but not anytime soon. I think it has made decent strides, and has come a long way, but it still has a long way to go. I know some investment firms have recently been looking into the possibility of creating an all crypto ETF, but the fact that they haven't pulled the trigger yet makes me think that the ROI is just not quite there yet. In theory, crypto is a great idea and, in some ways, is superior to fiat currency, but there are still some legitimate concerns as to its stability.

Additionally, there is the concern of the environmental impact of crypto or really blockchain technology, at least as it's being used currently. It takes a ridiculous amount of computing power (energy) in order to keep the blockchain algorithms up and running and doing what they do in order to make bitcoin (and other cryptos so secure). As more and more computing power is required, the costs of such energy to provide for it rises, and it's likely that at some point, this cost will be too high for the firms and the exchanges alone and some of the cost will be passed on to the consumer, us. Also, another concern is that due to the lack of regulations, scam and market manipulation will continue to ensue at an ever rising rate. Think of Oncecoin, which was discovered to be a Ponzi scheme, ripping off many investors, racking up millions in profit. Considering that there are many who don't fully understand crypto, and still others who are of the FOMO (fear of missing out) mindset, Ponzi schemes like this as well as other market manipulations can occur with little to no scrutiny until it's too late, and the parties who are invested go tits up, without any regulating body such as the SEC to issue any protection whatsoever.

There are of course other concerns, but just these alone will, for the time being, keep crypto in the background.

I agree with you. It has the POTENTIAL to be big, but I don't think that the social structures in place are ready for it, and I don't think it can be done environmentally safely yet. There's also the problem of it becoming a fiat currency, which uuuhhh, can cause problems. BUT if we don't all die in the next few decades and achieve the Star Trek utopia, then yeah maybe.
The billionaires on Mars will definitely be using it though. Can't wait for them to turn Mars into a real-world Rapture.