Ask HN: Will crypto currencies survive past this market downturn?

8 pointshalamadrid1mo ago7 comments

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.

coffeebeqn1mo ago

I truly hope not! Owning a house has a bit more real world value than a NFT

getgnu1mo ago

"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."

nivertech1mo ago

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...

rvz1mo ago

Of course they will. But not all of them will survive.

I_am_tiberius1mo ago

I think the only danger is quantum computers.

david9271mo ago

j / k navigate · click thread line to collapse