Eh there might be another bump. But as long as it's a space for scammers, pump-and-dump schemes, shitcoins and bullshitters it's just not for me. A pretty ridiculous amount of money has been sunk into making cryptocurrencies look like a big thing, instead of actually solving the problems that prevented people from actually using them. That makes me think that deep down the cryptocurrency people aren't that serious about their projects becoming actual currencies, and that they simply see them as a way to get rich quick by selling something they know to be ultimately worthless. Quite a few people have gotten rich (hello, Do Kwon!) so there's a chance it could work for those founders. But as a potential end-user, nahh no thanks I've seen enough
The "space" for a cryptocurrency is a Venn Diagram solely occupied by one circle: Bitcoin. We're seeing a culling of these shitcoin also-rans, which took the money from the late-coming naive while enriching the early wave of speculators, like any other common pyramid scheme.
Amazing. When the crypto world get bored of minting apes and such maybe they'll try to actually bother to try making bitcoin into something that can be used day-by-day. I don't think they will though. I think it'll remain only a speculative asset whose price jumps erratically to-and-fro until people get bored and move on to the next shiny thing.
