If you take it from the mainstream media, crypto is over.
The collapse of FTX was the canary in the coal mine.
According to this argument, the bitcoin price drops reflect the end.
Most likely though, crypto is following the hype cycle. (see above chart)
In 2010, bitcoin started to increase in price - representing the innovation trigger.
From 2010-2021, the rise of crypto was a period of inflated expectations.
And in 2022, we saw the price crash, which has led us into the trough of disillusionment.
We can’t throw the baby out with the bathwater, though.
Crypto offers many functional advances in authentication, identity management, and buying and selling of digital assets.
These tools make it easier to do business on the internet.
This is a fact that goes overlooked when expectations of crypto are at record lows.
As Warren Buffett said, when the tide goes out, you see who’s swimming naked.
There is a lot of garbage in crypto that is currently getting washed out by the correction.
But there’s also a lot of gold, and after we get past the trough, we will approach the slope of enlightenment.
This is a path towards *actual* improvements in business productivity.
Less hype, more function.
Less noise, more signal.
Back to the basics:
How can crypto solve a real problem for a real customer?