Here's a lenghty blogpost by Martin Armstrong about FTX, the looming chaos and how their conduct & subsequent collapse marks the beginning of the end for (most or all?) blockchain projects.
Armstrong concludes his text with:
The collapse of FTX will now become a contagion for the crypto world. This 20-something group of inexperienced traders has signaled the demise of an industry that was getting all the hype with no substance. This crypto world will be seen as the DOT COM Bubble of 2000. With a recession on the horizon, the collapse of sovereign debt, and the monetary system as a whole, people will be looking for more of the safe bets rather than roll the dice on crypto. Nothing ever goes straight down. But by year-end, the volatility should perk up everyone’s view of the world.
I think I'll buy some gold next.
The thing about this Crypto stuff is that it excites so many reaction.
YouTube content Creators (for example) are saying that Crypto is seeing it's end, buy they will also be the first to hype Crypto when there is a bulk run. Haha.
Everyone just have to due their due diligence before putting money on anything... Gold, Crypto, real estate, etcetera.
I have increasingly the feeling that the entire hype was orchestrated by intelligence&big banks/the powers to be. The supposedly entirely private and enthusiasm driven development was kicked off, until their products are developed and established enough for their institutional application.
My comparison would be rocketry after World War 1 as I write here about its early development. It was mainly driven by enthusiasts who did it in their free time and with their own money. But it was the military & intelligence in the background who kept an eye on them and allowed them to conduct their hobby. When their rockets were good enough and it was clear who the talents were, they stepped up and made them an irresistible offer.
We see now something very similar playing out with blockchains/crypto.
Dear @fulda-gap,
May I ask you to review and support the new HiveSQL Proposal so we can keep it free to use for the community?
You can do it on Peakd, ecency,
Thank you!