Will Cryptocurrency Ever Serve a Purpose? RIP Utility

There is no competition in the cryptocurrency space anymore.  The irresponsible projects shoot themselves in the foot by “moving fast and breaking things.”

What we now need with crypto is utility.  People are discussing more of speculation than utility. Anyone who wants to discuss about crypto wants to discuss only price.  The reality is that any kind of investment is speculative.

Cryptocurrency is just trying to be privatized money. There is a need for mass adoption and real utility than price action. It is important for people to buy the utility and not the speculation.

Majority of cryptocurrencies are going to die and it needs to die. The speculation was created by exchanges promoting and listing scams. All for fees. Exchanges look like gambling sites.

It feels like with crypto it is about hopes for a better world and escape route for the global economy from two decades of ever worsening fiscal desperation and now all are being drowned out by memes and scams.

Cryptocurrency and utility on the blockchain are in reality two different things.  There are incredible innovations being worked on in the crypto space. Unfortunately, they don’t get much coverage because speculation makes people rich and utility only enriches people’s lives. There are some protocols which unlock more utility than others.

“It has to serve a purpose, solve a problem. Other than number go up. I don’t care if number go up.”

Real utility will bring long term liquidity, which ultimately supports long term projects which will further help evolve the entire space.  Peer to peer electronic cash – seems there’s some infighting with the BTC core folks about the speculative store of value narrative vs actually using it for anything.

Those who believe in speculation have to say that speculation brings in wealth and wealth in turn pays for utility. Speculation they claim changes the way finances are handled!

The strongest propaganda now is that the world needs Bitcoin and lightening rails. Altcoins are those with VCs chasing more control and gains. Perhaps the current period is just proof that crypto has been here for more than a decade now. It’s time utility is forefront past the speculative period.

Those who are strong believers of speculation are like:  No it needs more speculation which will help everyone know exactly what type of utility to deliver.

RIP Crypto Guys are like:  There was never any utility in crypto. They are bad as currency and investment! It’s one big Ponzi scheme.