Question for all the crypto people

[BugFreak]

To start off I will say I know very little about crypto and have not dabbled in it for many years. I believe Bitcoin was $800 when I last mined to give a timeline. What I do know is what I read on websites and news media so please don't hate on me if I'm wrong but here goes.

The more I read about crypto currencies the more it seems it is becoming "mainstream". By this I mean impacted or controlled by the same groups/people/funds/governments/etc that are related to the standard currency markets or stock and/or bond markets. The way I understand it the whole purpose of investing in crypto is to stay away from this right? For example my CNBC app gives bitcoin quotes right next to the S&P 500 quote. Also the big banks are starting to get in and now there is even an crypto ETF trading. It just seems like it has moved far away from the anti-establishment, anti-government regulated device it was meant to be to me. So my question is simple: At what point will crypto no longer be what it was designed to be and drive people away? Is there a point when the governments of the world accept it and/or regulate it that crypto could ultimately fail or at least drop in value enough to drive every day people away? My questions are out of pure curiosity from my complete outsider point of view so feel free to correct my thought process if wrong. Thanks.

 

[ZL1]

hey man, welcome

I see where you're coming from and partially you are right, but some of them have been around for a long time, they just didnt announce it much. Personally I take the good with the bad, they do bring their bag of crap, but some good things will also come of it, primarily exposure, which is needed, otherwise the initial purpose will never reach its goal, begin a decentralized network for a select few has little sense. At least thats how I see things, also for the time being they are just 6% or so, https://bitcointreasuries.org/

also, dont forget defi, that stuff will overtake everything in time, and with defi there is no one to regulate, manipulate, push around or anything really, but the space is still in its infancy and being built mostly on ether with their crazy fees, it will take a while longer

 

[MIAHALLEN]

Along with the sentiment in the 1st post is the observation that governments have always been followers....they never do anything original. When something original comes along, the normal reaction from government is: "They ignore you, then they laugh at you, then they attack you, then they counterfeit your idea and claim they invented it in the first place."

This counterfeit is coming in the form of CBDCs (central bank digital currencies). I also believe that they will attempt to destroy all none CBDC- cryptos by attacking BTC with a virus or by cracking SHA256....and many will loose interest.

 

[ZL1]

Along with the sentiment in the 1st post is the observation that governments have always been followers....they never do anything original. When something original comes along, the normal reaction from government is: "They ignore you, then they laugh at you, then they attack you, then they counterfeit your idea and claim they invented it in the first place."

This counterfeit is coming in the form of CBDCs (central bank digital currencies). I also believe that they will attempt to destroy all none CBDC- cryptos by attacking BTC with a virus or by cracking SHA256....and many will loose interest.

ya CBDCs are such a crapload...