Why This Crypto Crash Is Different
— Real dollars, Crash, Network effects, Unrealizable, Valuing, Btc, Alternatively, Bitcoin maximalists like, Adapt — 1 min read
If tighter money is here to stay, it will make it impossible for crypto to rise again as it has before. It could return to its roots, eschewing the dollar and valuing crypto only in terms of itself. Alternatively, it could attract more real dollars by developing real-world use cases, rather than relying on network effects to pump up dollar values that are unrealizable in practice. But this is unlikely to generate the high dollar values of the past, and will have to adapt to the new paradigm of the market. Bitcoin maximalists like to remind us that “1 BTC = 1 BTC”, as bitcoin maximalists say, as ‘1 BTC + 1 BTC is 1 BTC.’, as they say. Source