Cryptocurrencies in their pure form are the best mean of transferring value that has ever been developed so far. The ability to send/receive value without a bank in the middle, and at the same time overcoming the double-spending problem is a breakthrough.
The mean of storing and transforming data on a public blockchain (smart-contracts), based on the algorithmic consensus of all involved parties is another breakthrough technology.
Bitcoin is volatile in short term, because it's not as liquid and regulated as securities on Open Market, but it always outperformed in the long run due to it's scarcity and utility. It is regarded as 'digital gold'.
As for smart-contracts, in future there will be CBDCs. They work in a similar fashion as stablecoins, except they're controlled by a central bank. Some have already launched CBDCs in pilot stage.
Quote:Market fundamentals have a way of winning out in the end over the strongest of enthusiasms, sometimes with quite dire consequences. [...] I figure what can be said about crypto goes at least double for NFTs.
True. Not all projects have bright future. Dogecoin or NFTs in current form as pictures of monkeys are total speculation and money laundering.
But stating cryptocurrencies or their technology in general will go bust is nonsensical and unfounded. It's like waiting for that 'great depression' Peter Lynch had been talking about in his conferences.
We regress too much from original thread though. I will argue no further.
