Has crypto finally run out of greater fools? (a conversation on Reddit)
I agree with this dude:
tiberiumx
"I think it has probably peaked. Where can they go after superbowl commercials, celebrity shilling, and just saturating advertising channels for the last two years to find new marks? And remember, they have to find
more marks than they did the last time to keep the illusion of exponential growth. Sure, manipulation and counterfeit stablecoins masquerading as real dollars can prop up prices for awhile, but they've gotta balance that with having at least some liquidity.
Not to mention public opinion has started shifting against it -- there are fewer people credulously accepting the idea that it could be the future of money than there were before, at least as a percentage, and far more public criticism available which was essentially none two years ago. Just as an anecdote: when I open up comments on a crypto Facebook ad in the last few months, there's a lot of people calling it out as a scam. I haven't seen that before.
The real danger is that it can crowbar its way into the real financial system. There are an absolute asston of morons who will take zero time to learn about it but will be like "oh, it's just a high risk investment, I'll put 1% of my asset allocation into it". The SEC should never allow that, but we all know how easily bribed US regulatory bodies are. And the crypto industry is spending a ton of money on lobbying."
The reason I quoted this, because it is an opposite viewpoint to Roy's.
