How the cryptocurrency crash could be a good thing

[Newsfeed]

How the cryptocurrency crash could be a good thing

These days, cryptocurrencies are far from the rage. Many have lost 80 percent or more of their market value from their peak in January, and some have fallen off the map altogether. But perhaps that development is precisely what we need for crypto to take the next step forward.

For context, railroad stocks collapsed after a bubble in the 19th century, but still the railroad continued to transform our world. Internet stocks plunged in the dot-com crash of 2000-2002, but that in turn cleaned out the bad companies and paved the way for the subsequent tech revolution, including the rise of Amazon and Google.

 

[MrGray]

I'd hardly say cryptocurrency crashed. At least not the main cryptos. They had a huge spike at the end of 2018 but they're at much the same level they were a year ago. A lot of silly ICO's have died since then, thankfully, but honestly I think that common sense saw that coming a mile away. I do agree, though, crypto is in a consolidation phase and has to prove its utility now. There's still a huge amount of development going on but it's just not all that glamorous.

 

[ekske1]

I'd hardly say cryptocurrency crashed. At least not the main cryptos. They had a huge spike at the end of 2018 but they're at much the same level they were a year ago. A lot of silly ICO's have died since then, thankfully, but honestly I think that common sense saw that coming a mile away. I do agree, though, crypto is in a consolidation phase and has to prove its utility now. There's still a huge amount of development going on but it's just not all that glamorous.

It's an opinion piece

https://www.smh.com.au/business/mar...could-be-good-for-crypto-20181107-p50efh.html