Things like this are why I'm not at all worried for the long-term prosperity of crypto, no matter how much the market bleeds in between. There is so much institutional money on the sidelines waiting to get in, most still have not taken their seat at the table.
Blockchain technology is going to be implemented, that's a given, even cryptocurrencies most vocal critics like Jamie Dimon have said "I like blockchain technology, but not cryptocurrencies".
Anybody who says that may like the idea of blockchain technology but they clearly do not know much about it. Blockchain technology in it's current form is not viable without the economic incentives attached to it; the cryptocurrencies. Take Bitcoin, a core value proposition is security (until quantum computers) because it is decentralised, everybody has a copy of the public ledger, so no one person can change it; it's immutable.
You can't get that kind of decentralisation without having lots of nodes (computers) supporting the network with their computing power. But, you also cannot incentivise people to run nodes without financial reward - this is where mining comes in; it's not just so people can mine internet moneyz, it's actually a fundamental enabler of blockchain technology.
There are variations that have emerged since, such as Proof-of-Stake (master nodes, GAS generated from NEO etc) where users take their coins to support the system using less computing power, but they all still require economic incentives to allow the blockchain technology to function properly. If i hadn't thought about this question myself "why do we even need cryptocurrencies?" then I would be shitting myself that things are going to 0.
However VC's and hedge funds are well aware of what I've just briefly described, and it is for that reason that I am not at all worried in the long-term. All the main critics use this same argument, but all it shows is they don't actually understand how blocckchain technology works. This may change in the future, but for the time being that's how it is, therefore we are not going to 0 - ignore the FUD, trust your research.
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