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@mykos
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2 min read

Well that doesn't surprise me seeing that the prediction of the economy over the next 10 years by most economist is a bad one. Like when is the last time you heard anyone positive about the economy.

Unfortunately this is not a good thing for crypto either. I think people in crypto have the tendency to believe a suffering economy will lead to a convincing of the world to use crypto. I don't think thats necessarily the case of what will happen.

I think more than likely what will happen is crypto will follow this collapsing economy down the tubes. Crypto still hasn't presented the best use case and for the most part is still quite impractical. I can't even conduct commerce well with crypto because one can't do chargebacks.

As far as lending the data more than likely is going to point to a large number of defaults. However this over optimism in crypto is not a solution because at best crypto should be focused around anchoring down for a collapsing economy. Solutions on how to survive a job market reduction of over 47% of jobs.

A focus on what type of systems will be necessary. Forget the get rich driving lambos ideas. How are we going to survive a collapsing economy thats coming? Forget can we create a business that may or may not need to exist on the chain. What are we going to do about this storm that can't be stopped and what should we be doing?

So i just think people living in a fantasy world about all this. Unfortunately they aren't going to stop until they are neck deep in it like the great depression. This magic money printing the fed is doing. That's not a solution thats going to solve the issue. Things have to make sense to a problem. We aren't addressing any problems here. We still doing this shellgame the money is here no its over there crap in crypto and in our standard economy. Until we get serious nothing is going to change.

In crypto people so worried about these few bucks they can make. Listen those few bucks aren't going to do anything to the totality of this situation. It's like focusing on a grenade when someone has a nuclear bomb. Again unfortunately when we figure out what we we need to do we will be underneath the water in this drowning.

https://www.youtube.com/watch?v=fFpAcChNDQo&t=2435s

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