Will crypto stop being an underdog?

A while ago, I found myself listening to a conversation between a few friends while they talked about their thoughts on crypto and the possibility of it being fully adopted in the near future. Image source If we're all being honest, we all can see that the crypto scene is really scary at the moment. The movements are off the charts and we're having way more reasons than normal to be even more terrified.

Although I'm loyal to the system and haven been around long enough to see how often shitty situations like these change, I have to admit that listening to that conversation got me wondering about the future.

One of the basic goals of crypto is to take over traditional financial institutions due to how much influence the government and these institutions have on your money and how you spend it.

With the ups and downs of the crypto industry, the chances of this happening anytime soon are extremely thin. The global economy is crashing and money's constantly getting harder to come by. Crypto volatility would break way too many hearts.

The question of whether or not crypto would forever be an underdog was left at an impasse. It's taking a little too long for crypto to reach a certain level of global adoption that would limit government restrictions on it.

Additionally, fraudulent situations like the FTX saga make it harder for people to get into the system and know what to trust and what not to trust.

As much as we preach about how untrustworthy centralised exchanges are, they're still the first contact people get with crypto. They're a lot easier to navigate and require fewer charges than decentralised exchanges. Now that we barely know what to trust anymore it's tough getting people to love the system.

Crypto may stop being an underdog but it's going to take a pretty long while for this to happen. Until then, we keep forging ahead and picking up the pieces as they drop.

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