It is unfortunate, since a lot of people's first experience with cryptocurrency may well be buying Bitcoin in the 18-20k range (maybe 30k, 50k, 100k, impossible to tell how large a bubble can get) and bitterly taking a 40-60% loss after the bubble bursts and they give up on it. The entire crypto space would be better off if its poster child were a more fundamentally sound project, with a more limited downside due to a solid floor of utility value. Hopefully it goes more smoothly than I see it going, because a lot of people might be left with a sour taste in their mouths about distributed ledgers as a whole for a long time after falling for peak-bubble FOMO.
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