There is no money inflow, there is no money pouring from the sky to pay inflated wages to hundreds of people, new projects are not attracting investors as much, there are no buyers, and the much needed clean-up time is finally here when a ton of useless stuff will finally be thrown where it belongs, in the garbage bin.
Anyone who believed we could simply have millions of people living from crypto by just creating coins and trading back and forth shitcoins is going to have a serious wake-up call, the only services that will not be affected that much will be the ones that don't depend on the value of the coin, gambling sites or merchants because they don't sell coins, they sell services or goods.
Anyone who believed we could simply have millions of people living from crypto by just creating coins and trading back and forth shitcoins is going to have a serious wake-up call, the only services that will not be affected that much will be the ones that don't depend on the value of the coin, gambling sites or merchants because they don't sell coins, they sell services or goods.
Yes, this is similar to thinking that we can get over with the recession by printing more and more money. That is FEDs psychology and method of working. But anyways we have already seen the consequences of such high money printing which comes out of thin air but it does not fulfil the vacates present in the ecosystem. You would be devaluing the currency and once the demand is over it’s gonna crush.
What @stompix stated about crypto is similar to that. Only in this case we have pre minted coins, we have the number but we are unsure of the demand. On fine day it could be heavy on the other day it could be zero.
