Crypto Continues to Fall Apart

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The crypto world seems to be disintegrating. From plummeting values to firm after firm going under, the latest being the major hedge fund started in 2012, 3AC, it's a real mess. Granted, a lot of these are brokers and funds, not necessarily crypto itself of course. But they are all linked to it—and the entire situation does not bode well for crypto as a whole. Because, in part, these "developments" are happening because of the now clear instability of what was to be the savior of the world's money issues. Is it over for crypto? I think that is yet to be determined. But one thing is clear, it's going to face an even bigger uphill battle than it did before to be adopted, accepted or even seen as anything worth anything. Banks will shy from it. Retailers won't want to accept it to pay for things. Investors won't want to invest in it. Die-hard believers will remain of course. But it's not enough of a supply of people to make crypto become what it wanted to. Beyond that, we are also seeing a lot of the dark side of crypto as well. The 3AC thing being a glaring example. As the hedge fund that once controlled around $10 billion now files for bankruptcy, the founders Zhu Su and Kyle Davies are currently missing. One can only assume they have fled as creditors come knocking on their door for their money. I said a long time ago that crypto felt kind of like the dot com thing. As each new day passes and more stories develop, that picture begins to be clearer. Maybe bitcoin survives as well as some of the others? But I am not sure any of them will. I am not sure how any of them can. What I can say is that the entire show is one that is entirely fascinating to watch unfold. Movies will probably be made.