The original purpose of cryptoCURRENCY was to be form of a decentralized, anonymous, borderless, unstoppable CURRENCY. Unfortunately, due to rapid appreciation of the value of Bitcoin it attracted unsavory characters who have turned into a trillion dollar speculative investment industry. Most "investors" are a lot more interested in a pump and dump scheme to "get that Lambo" rather than support something that has potential real world utility, like Helium (wireless coverage), Nano (fast feeless payments) or Monero (anonymity).
Don't you even know the main intention of investor in the crypto? they wanna make some money. that's why the were interesting in the bubble but yeah you can't count something like nano as a potential real world utility. Only a few crypto that has real world utility.
With the market crashing and a lot of speculators getting burned, is it possible that we will see a cleansing of the industry with people being a lot more selective into what they are investing in?
Do you think we will in the next 3 years
1. See thousands of me/shitcoins collapse bringing attention/money to hundred or so most innovating currencies.
2. Almost the entire industry will collapse, leaving only a dozen or so largest cryptos standing.
3. Memecoins/shitcoins are here to stay.
Some stay and the rest will be dead. This is crypto when the bearish market will wipe out all of bad crypto from the market. The money that used to pump and dump shit token were not a lot.
And do you think crypto will ever be thought of as a currency at any point, or are we stuck with this "asset" mentality?
People are using crypto for 3 purposes, currency, utility and investment.