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Crypto got everything it wanted. Now it's sinking

https://www.economist.com/finance-and-economics/2025/11/18/crypto-got-everything-it-wanted-now-its-sinking
8•pseudolus•1h ago

Comments

pseudolus•1h ago
https://archive.ph/PmStK
jonahbenton•1h ago
Sinking in value. Expanding nearly exponentially in breadth and depth of financial system integration.
7e•19m ago
Does it do anything useful yet?
octoberfranklin•6m ago
I buy stuff with it all the time.

It is by far the easiest way to pay people who are in another country. Trying to use a bank account for that always seems to get thwarted by a bunch of "fraud alert" false alarms.

candiddevmike•6m ago
The hardest part of paying people who are in another country is taxes, IMO. Which I don't think crypto fixes.
mulderc•5m ago
Is it? I pay people in other countries with normal credit cards all the time.
octoberfranklin•3m ago
You're assuming they have a visa/mastercard merchant account. Have you ever seen what it takes to get one?
dhosek•18m ago
Really, it can’t sink to zero fast enough. It’s sole value proposition is a means to facilitate criminal activity.
rafale•7m ago
Most crime is conducted in fiat money.
amarant•4m ago
Doesn't change the fact stated by GP tho.

Fiat money, unlike crypto, have lots of non-criminal uses.

mulderc•5m ago
To be honest, that probably means the value isn’t zero.
zer00eyz•4m ago
Meanwhile you have the credit card processors, and traditional banks.

These will often refuse or vastly over charge perfectly legal business that they have a "moral" objection to. This is by design.

Dammed if you do, and dammed if you dont.

christophilus•15m ago
This article is written at this stage of every cycle. It’s getting old.