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Did it though?
N…now?
flawed premise, spurious observations, bullshit conclusions. that crap has waaay too much real-world exposure, and sunken cost fallacy won’t let it wither into oblivion.
like, you can’t make someone who bought a $20 rice cooker concede it’s a bullshit appliance, let alone swaths of morons that sank billions of real world money into it.
Sunk cost and too big to fail are cousins. In order to save it demands will be made, regulations put in place to make sure that this is the only bailout that is needed. And in the process crypto will lose so many of the things that made it attractive to the same people that once claimed only gold and silver are real money. In order to save crypto it will be watered down and rendered unrecognizable.
The biggest error was when institutional investors could do ETFS and futures in crypto and everyone’s retirement gift wrapped up in this. That’s the moment that the death of what crypto stood for became inevitable.
