Quote:
Originally Posted by afc wimbledon
It sort of fails to take psychology into account, that what would kill crypto is a combination of it being yesterday's thing and indelibly associated with fraud in the mind of the casual participant, the size of the frauds is almost immaterial to that, it's the publicity of it all, if all you ever hear about is that it's all a con and it's sort of dead then the casual buyer isnt jumping back in
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For sure. Also, in 2013, the people trading Bitcoin were almost entirely crypto nerds, and little details like exchanges collapsing were easy to dismiss (like the early years for Tesla - nothing would sway Tesla fans).
Now crypto is seeking to be mainstream, and FTX caused billions in losses to high profile entities. It is a completely different situation.