Economist: Crypto isn't cool anymore

[MusaMohamed]

Forgive me for totally fading the opinion of this so called Economist. Bitcoin continues to burrow deeper into the roots of mainstream finance. Adoption will continue to grow at a steady rate, we will see it hit $1M in the next 10-15 years so let’s keep accumulating.

Next 10 to 15 years will be interesting especially with Bitcoin halvings and very rapid adoption growth of Bitcoin. These things will create effects like making bitcoin looks like scarcer and more attractive with many people. While if they are knowledgeable and smart enough, they should realize this fact earlier so that they would have been able to take advantage of earlier comers than late comers.

Anyway let them be and if we ourselves can realize these things earlier than them, actually take action for investment and accumulation bitcoin, we will be able to enjoy profit in next 10 or 15 years.

People only need to read and understand these ones to be motivated for confident investment.
How is the 21 million bitcoin cap defined and enforced?
Equivalent Network Time is a topic shared by fillippone that visualizes the Bitcoin supply vs Time in another way.

[ultrloa]

Forgive me for totally fading the opinion of this so called Economist. Bitcoin continues to burrow deeper into the roots of mainstream finance. Adoption will continue to grow at a steady rate, we will see it hit $1M in the next 10-15 years so let’s keep accumulating.

Those what so called economist have interest protected and obviously they are not on the side of Bitcoin. Usually those what so called expert are been tied up with traditional finances that's why I'm not actually surprised if they keep talking or discussing more negative thoughts about this coin.

I also believe that same with those normal people don't know about Bitcoin, they are also skeptical to try because what they know Bitcoin is volatile and hard to trust which is common thinking for those people doesn't really know how to deal with Bitcoin.

So yeah its good to keep accumulating and let them remain skeptical on Bitcoin, for sure their stance will be change if they see those future huge changes that might going to happen on Bitcoin.

[nemesis_incarnate]

Being called "Not Cool" by an economist is actually a compliment because whatever these economist think of as cool, will probably turn out lame as hell.

So, things better stay this way, the economist will keep yapping about how uncool bitcoin is while we are holding it because deep down we know bitcoin is peak currency.

It can be considered an achievement and the mark of quality, actually

[Kelward]

The Economist points to this as a reason BTC's price has declined by about half in the last year. The question is, how does it get back? I can't think of any cultural phenomenon that lost its coolness and then regained it. Usually that's a one way street.

This is where the difference lies between Bitcoin and other assets that reigns and fades out, it has a very high probability of recovering anytime it dips and we have been seeing it happen countless times including presently. It's no wonder why Bitcoin is placed near gold when you talk about valuable assets despite it's being less than two decades old compared with gold that has been from time of creation. Altcoins come and die but Bitcoin is a unique cryptocurrency because of it's features as a decentralized and limited supply asset, I believe that Bitcoin coolness will outlive most of us that are alive today. Bitcoin has nothing to prove whether it's cool or not, if you don't hold it that is your lose.

[henry_of_skalitz]

This is where the difference lies between Bitcoin and other assets that reigns and fades out, it has a very high probability of recovering anytime it dips and we have been seeing it happen countless times including presently. It's no wonder why Bitcoin is placed near gold when you talk about valuable assets despite it's being less than two decades old compared with gold that has been from time of creation. Altcoins come and die but Bitcoin is a unique cryptocurrency because of it's features as a decentralized and limited supply asset, I believe that Bitcoin coolness will outlive most of us that are alive today. Bitcoin has nothing to prove whether it's cool or not, if you don't hold it that is your lose.

Bitcoin is cool because it wasn't created to be as such, it fulfills its goals and pushes them forward witch each year passing by just staying itself.

[TedMosby]

"Crypto isn't cool anymore."
IMO, I think their statement really depends on how they use crypto. I'm 90% sure their knowledge about crypto is limited to Bitcoin as the first and the mother of crypto, Ethereum having a big ecosystem and being needed to build crypto on top of it, crypto as payment, Bitcoin as a store of value, crypto for making money thru trading, and things like that.

But what about lending and borrowing? What about liquid restaking tokens, etc.? Okay, forget about these, let's make it simpler. What about using BTC to buy more BTC? So you use it just like property. Property investors usually use their property as collateral to get money to buy another property (usually a productive property).

[Mpamaegbu]

You're right, OP. The crypto industry isn't cool anymore, truly. If we consider all the create and dumps happening in this industry, we shouldn't have any hesitation in coming to that conclusion. It's crazy how hundreds of useless tokens get created on a daily basis just to pull out money from ignorant folks. More than 90% of tokens (according to information) created daily are just for scam purposes, nothing more. This is discouraging. It gives this industry bad image. It's because of this I crave regulation in this sector just like what we find in stocks and forex trading. We do need it.

[Faisal2202]

The Economist points to this as a reason BTC's price has declined by about half in the last year. The question is, how does it get back? I can't think of any cultural phenomenon that lost its coolness and then regained it. Usually that's a one way street.

Well, that's a good way to see it, I also found Bitcoin cool when I came to know about it. I was surprised and excited to have it and now that I have some, even 0.0001 would give me a lot of excitement. Or maybe it is only for the first few years and in bear run the excitement ends.

I still think it is cool, because of its adoption, Actually I watched a lot of sci-fi. movies, so I thought Bitcoin is going to be the digital coin of the meta world, as in 2021, the metaverse was the only hype as it was Ai in 2024 and 2025. But with time I understand what hype and narratives are and how money flow from one to another and bitcoin is here to stay while narratives are not.

[lizarder]

This is where the difference lies between Bitcoin and other assets that reigns and fades out, it has a very high probability of recovering anytime it dips and we have been seeing it happen countless times including presently. It's no wonder why Bitcoin is placed near gold when you talk about valuable assets despite it's being less than two decades old compared with gold that has been from time of creation. Altcoins come and die but Bitcoin is a unique cryptocurrency because of it's features as a decentralized and limited supply asset, I believe that Bitcoin coolness will outlive most of us that are alive today. Bitcoin has nothing to prove whether it's cool or not, if you don't hold it that is your lose.

This advantage is real because we've seen several previous cycles and even sharp declines have allowed Bitcoin to recover and reach its all-time high. This is unlike some altcoins or memes that were once hyped, where despite reaching their highest prices, they ultimately lose value and die during sharp declines. That's why Bitcoin is considered a much more rational long-term investment because it possesses advantages that other assets don't possess.

Bitcoin's appeal is actually growing, as evidenced by its widespread adoption. Bitcoin has also been proven and maintained its value, making it a far better investment compared to other existing assets. Without realizing it, Bitcoin has achieved a perfection unmatched by other assets, despite the price volatility it experiences along the way and Bitcoin's strength continues to be tested under any conditions.

[X-ray]

It can be considered an achievement and the mark of quality, actually

Yeah especially when all these economist prediction has been off the mark 9 out of 10 times and is pretty much irrelevant in my opinion.

They can talk shit about bitcoin all day long and we also reserve all the right to just ignore them .

Still remember how the expert at economic were shitting on bitcoin a decade ago, I don't expect them to change their opinion but bitcoin will be unstoppable.

[Publictalk792]

This advantage is real because we've seen several previous cycles and even sharp declines have allowed Bitcoin to recover and reach its all-time high. This is unlike some altcoins or memes that were once hyped, where despite reaching their highest prices, they ultimately lose value and die during sharp declines. That's why Bitcoin is considered a much more rational long-term investment because it possesses advantages that other assets don't possess.

Bitcoin's appeal is actually growing, as evidenced by its widespread adoption. Bitcoin has also been proven and maintained its value, making it a far better investment compared to other existing assets. Without realizing it, Bitcoin has achieved a perfection unmatched by other assets, despite the price volatility it experiences along the way and Bitcoin's strength continues to be tested under any conditions.

Bitcoin is now way safer to invest in long term than any other digital money as it never fails to get back its price drop to shoot up yet again towards new highs, while many of hype coins lose all their worth and disappear. Smaller things have high risk with lottery wins, but fact that Bitcoin has managed to stay alive through large amounts of money issues has enabled it to bring feeling of trust as well as safety that other items simply cannot. Even though price keeps rising and falling, ups and downs are not harmful to price but are good as they remove Bitcoin out of gamblers and into hands of serious investors who will keep years long plans. Being powerful base of money worldwide, Bitcoin has since become most logical choice to all people who seek to save his or her wealth against increased prices and money trouble.

[Aanuoluwatofunmi]

The gist: Bitcoin is mainstream now, and can be bet on with the same tools your grandpa uses to buy stocks (ETF), and is absolutely mainstream from a regulatory standpoint. And even the president of the USA is a Bitcoin speculator. All of this means that there is nothing "counterculture" about Bitcoin any longer: it's just another button on your investment app--another product among thousands of possibilities.

Let's not just make comparison with what the stock market are to Bitcoin and its value or relevance in the market, if you are also more convinced that bitcoin is turning to become a mainstream currency all over the world, then I don't expect that we apply the same approach of some of this investment assets to equate the value of bitcoin because they are not digital currency or an assets that are profitable up to what bitcoin is, you should be well convinced that bitcoin has come to stay, this alone makes it relevance even more than Fiat because of the increasing value and other applicable opportunities we can engage from using it in our economy.

[BlackBoss_]

Let's not just make comparison with what the stock market are to Bitcoin and its value or relevance in the market, if you are also more convinced that bitcoin is turning to become a mainstream currency all over the world, then I don't expect that we apply the same approach of some of this investment assets to equate the value of bitcoin because they are not digital currency or an assets that are profitable up to what bitcoin is, you should be well convinced that bitcoin has come to stay, this alone makes it relevance even more than Fiat because of the increasing value and other applicable opportunities we can engage from using it in our economy.

Bitcoin can be used for many things and in the other words, it has many utilities and use cases so let's don't only think about Bitcoin's future potential with chance of becoming a mainstream currency. Its adoption will continue thriving without that and if people realizing that, they will see very good future for Bitcoin. Realizing that, they will no longer bargain too much for their entry prices as they will see any price now is good for future profit.

They know that they are still earlier than many other people who will only participate in this market in the future years, so prices today and in near future will not be expensive, but actually are very cheaper than prices in far future like next two or three cycles.

[aoluain]

The Economist points to this as a reason BTC's price has declined by about half in the last year. The question is, how does it get back? I can't think of any cultural phenomenon that lost its coolness and then regained it. Usually that's a one way street.

Didn't even bother viewing that vid in the op.

If the Economist cannot even make a simple correlation between the drop in price to
the Bitcoin halving well then their articles are not worth the time spent creating them.

Its just another attempt to "kick it when its down" - this has been tried hundreds of times
over the last 10+ years - and failed.

[Junii]

Crypto today is not what it used to be. Bitcoin still makes sense as an investment. It has history trust and real demand behind it. It is not perfect but at least it is proven.

Now compare that to altcoins. There are millions of tokens today. Not hundreds but millions. And most of them are not solving anything. They are just fighting for attention liquidity and hype. Even institutions are playing the same game now. They launch a coin build hype attract retail money and then quietly exit. That is why so many people feel stuck.
Not because crypto is dead but because the game has change .Before you just had to be early. Now you have to be right. Bitcoin might not be the cool rebel anymore.
But maybe that is exactly why it still stands. Because when everything else looks like a gamble the most boring option starts to look like the smartest one.

[melinoe]

Didn't even bother viewing that vid in the op.

If the Economist cannot even make a simple correlation between the drop in price to
the Bitcoin halving well then their articles are not worth the time spent creating them.

Its just another attempt to "kick it when its down" - this has been tried hundreds of times
over the last 10+ years - and failed.

BTCs price is fluctuating and it's absolutely normal given on what timeframe we look at it.

Any coin cannot go only up. It needs to slow down before going higher yet again.

[purple_sparkles]

Didn't even bother viewing that vid in the op.

If the Economist cannot even make a simple correlation between the drop in price to
the Bitcoin halving well then their articles are not worth the time spent creating them.

Its just another attempt to "kick it when its down" - this has been tried hundreds of times
over the last 10+ years - and failed.

BTCs price is fluctuating and it's absolutely normal given on what timeframe we look at it.

Any coin cannot go only up. It needs to slow down before going higher yet again.

What’s there to be surprised about when articles about bitcoin are written by journalists who haven’t even bothered to study its cycles or even look at charts of its rises and falls. Unfortunately, we’re living in a time when many positions are held by incompetent people, and that’s not just about journalism. The article is probably on the idea that information published in a well-known, reputable outlet will be taken at face value, especially by those who are not yet familiar with bitcoin. Nowadays, any information should always be analyzed critically, regardless of where it’s written or said, since even major publications and channels can spread misleading narratives.

[macson]

Those what so called economist have interest protected and obviously they are not on the side of Bitcoin. Usually those what so called expert are been tied up with traditional finances that's why I'm not actually surprised if they keep talking or discussing more negative thoughts about this coin.
-.-

Economists often disagree with Bitcoin because they hold conservative views and don't see the need for Bitcoin in the economic system. They believe it's nothing more than a phenomenon that will eventually disappear.

Whatever these economists say is merely their perspective, it doesn't constitute a compelling reason to reject Bitcoin. Still, for most people, Bitcoin is a digital asset with potential and is suitable for long-term investment.

[tiCeR]

Video: "Crypto isn't cool anymore"

https://www.economist.com/video/CVan3v3n7ga/ecJNYicn?f=%2F

The gist: Bitcoin is mainstream now, and can be bet on with the same tools your grandpa uses to buy stocks (ETF), and is absolutely mainstream from a regulatory standpoint. And even the president of the USA is a Bitcoin speculator. All of this means that there is nothing "counterculture" about Bitcoin any longer: it's just another button on your investment app--another product among thousands of possibilities.

The Economist points to this as a reason BTC's price has declined by about half in the last year. The question is, how does it get back? I can't think of any cultural phenomenon that lost its coolness and then regained it. Usually that's a one way street.

I don't think coolness is a requirement for anything to thrive. I don't think spoons are cool or hair combs or toilet paper. Nevertheless people are buying it because it solves problems or increases autarky and self-determination. Coolness is nice to I have I guess because it may positively contribute to momentum in dynamic markets, but at the end of the day all that counts is whether bitcoin offers properties that nothing else can offer and in my opinion, it is a clear cut case because bitcoin does offer unique properties. Whether coolness remains or not is regained or not, I think it is irrelevant.

[legiteum]

I don't think coolness is a requirement for anything to thrive. I don't think spoons are cool or hair combs or toilet paper.

Spoons or hair combs or toilet paper don't have a market cap of $1 trillion US. Also, all of those things have a practical use, whereas Bitcoin is just an investment for its own sake, based on its meme.

The author's point was not that Bitcoin will go to $0. His point was that the intense popular hype it enjoyed may be waning, which means the price will retreat because it will become a less popular investment--especially since there are so many other things to invest in like other cryptos, other meme stocks, sports betting, and so on.