Crypto Mobility: You're Viewing it Wrong

Quite frankly I enjoy reading some mainstream criticisms of the Blockchain and cryptocurrencies in particular because there doesn't seem to be a limit to some ridiculous insinuations. Imagine coming across an opinion that cryptocurrencies are only good for gambling, and it is basically its only use case.

But we can't blame the critics too much though. Price fluctuations has given everyone the right to an opinion. It feels like a gamble to hold certain crypto assets at this point, particularly if the reason for holding is purely speculative. This would mean that the asset in itself is a gamble, not what it could be potentially used for. There I object.

The main application of cryptocurrencies is with payments. That is so visible to everyone in the space that I wonder how it escapes these fierce critics. The Blockchain has built a payments infrastructure that was previously non existent and can be applied anywhere in the World due to the ubiquitous nature of cryptocurrencies.

Places where payments were extremely difficult are now possible thanks to crypto, and it is even a better store of value than some countries currencies, particularly stablecoins. It would really be nice for those critics to take a look at what crypto is doing in developing countries and how it is helping create new wealth and shape the technology of the future in those economies.

But it is the price fluctuations that matter, at least according to the critics. Bitcoin is down, market cap has fallen from $3 trillion to $1 trillion and investors have lost money to this 'scam'. It is always funny when stock value can be taken so easily to determine the success and failure of an entire space when it isn't that way for most mainstream companies.

Moreover, there is always the issue of where the comparisons are being made. Critics always point to the ATHs of November 2021 as a point for comparison when Instead progress should be measured in decades, or at least years. Where were we ten years ago and what level are we now? The progress becomes clearly evident there and it seems quite convenient that Critics so often ignore.

Crypto might be a slippery slope in terms of short term movements but there is undeniable progress to be made in the long-term. Listening to these naysayers who deliberately do not want to see the bigger picture serves to purpose.

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