Pffft. We've seen every doomsday scenario all over the place for years and years. But you know what, Wallstreet and the banksters always have an angle and always make money out of whatever doomsday scenario there is. They could even make the US govt. to bail them out.
As for this 'space'. It will succeed if it's good and ready. If not, then it's a bit way ahead of its time. I believe in crypto. Not just for finance, but for everything. Privacy, decentralized voting, etc.. It's the future. But my point is don't blame your losses on others and or external factors when it was you who made a decision to take on a risk without assesing the situation well.
As far as doomsday is concerned... Since 2012, the Federal Reserve have been engaged in a pre-emptive war against financial risk, and other central banks are forced to follow suit in a self-reinforcing cycle of devaluation and a mad game of Prisoner’s Dilemma.
Nice post.
The race to Zero Interest by global central banks is analogous to the nuclear arms race in 50s, 60s, 70s...
Flooding the system with free money does not mitigate risk... it only shifts tail risk from the present to the future.
This a very recent brilliant, must read paper:
"Volatility and the Allegory of the Prisoner’s Dilemma: False Peace, Moral Hazard, and Shadow Convexity".
http://hvst.co/1Luj8yWIt also shows the massive gap in sophistication between top Wall Street players... and crypto space pretenders.