While I understand the appeal of a non-fiat store of value, e.g., gold, as monetary debasement seems to be the choice of policy makers over any spending restriction, I had always assumed that when interest rates inevitably surged, the opportunity cost of holding digital currencies would be their demise. Any thoughts as to why this hasn’t happened yet? I might have answered my own question in that the debasement and resulting monetary inflation and fiscal stress underpins the cyber thesis but curious at your perspective.
Industries are measured by revenue, not by the notional value of outstanding securities. Cryptocurrencies don't create any value, the $5.2 billion is the revenue of the so-called "miners". Smartphones aren't a $3 trillion dollar industry despite Apple having a $3 trillion market capitalization, it is more like $450 billion.
While I understand the appeal of a non-fiat store of value, e.g., gold, as monetary debasement seems to be the choice of policy makers over any spending restriction, I had always assumed that when interest rates inevitably surged, the opportunity cost of holding digital currencies would be their demise. Any thoughts as to why this hasn’t happened yet? I might have answered my own question in that the debasement and resulting monetary inflation and fiscal stress underpins the cyber thesis but curious at your perspective.
$5.2 billion?? Cardano alone has a market cap of $9. Btc which is the only digital asset worth mentioning imo has a market cap of over $1/2 trillion.
Industries are measured by revenue, not by the notional value of outstanding securities. Cryptocurrencies don't create any value, the $5.2 billion is the revenue of the so-called "miners". Smartphones aren't a $3 trillion dollar industry despite Apple having a $3 trillion market capitalization, it is more like $450 billion.