Topic: WEF On Cryptocurrencies: Crypto is here to stay (Read 287 times)

I agree with the statement in part. I prefer to think of bitcoin as the first cryptocurrency that will always be around. In addition to being here to stay, bitcoin is also here to thrive and grow. Bitcoin will endure despite the failure of a great number of cryptocurrencies, including OneCoin (ONE), BitConnect (BCC), BoringCoin (ZZZ), and GetGems (GEMZ).
That the WEF has realized this is something to be they cannot fight or resist it or they accept it.

It's good that cryptos are considered a good or neutral technology here, it's a positive assessment. Cryptos are nowhere near the impact of the Internet yet, and perhaps they never will be, but they do represent a revolutionary reimagining of what money can be and how it can function.
They write in the article that millions lost money, but that's not fully correct. It's true for now, but many, provided that they invested only in top currencies and can afford to hodl through the bear market, are likely to get their money back.
Overall, considering that some companies did manage to survive the dot com bubble, perhaps such comparison is accurate enough.

I am pleasantly surprised that article didn't say crypto would be scam and dead. I guess my expectations are pretty low when it comes to crypto news in mainstream.


I hear you, but i believe we have to wait for the killer app of crypto. I admit it's hard to sell this idea to anyone outsider. I believe that smart contracts of some sort could replace majority of current banking systems, but i have to admit that there's nothing to show of it as yet. I believe that constant development will one day bring us something really valuable. This is still highly experimental tech and sadly applications for it are mostly money grabs.

I don't see many similarities between dot com bubble and bitcoin. There's a lot of similarities between it and altcoins because many of them have no value and got invested in because they weree cheap, well promoted and offered better profit than bitcoin. People thought that they have to choose altcoins since bitcoin is too expensive for them. The crash is also much different because bitcoin's fall is the result of monetary tightening. That tightening flushed out bad actors which produced some negative press and that scared new investors but it doesn't mean this will continue. Once this cleansing is over we should get back on track.

The matrix wasn't really just about creating a metaverse, but more about having a chance to live another life during this life. Yeah, I know that many people believe in afterlife, but not "really", they believe a sort of it, and if you could have a different life today, that would be awesome.

So all those the matrix, ready player one, and similar stuff got a lot of attention because why wouldn't you want to be someone who could be super rich business man in another life, or a pirate king? Or a amazon queen? Like at least gives them a chance, and to be fair we won't be any of those in real life and it's guaranteed. Hence why it got so much attention so quickly.

Cryptocurrency has a very sinister alternative - Central Bank Digital Money (CBDC).  

In fact, CBDC is an integral element of a digital concentration camp for all mankind.  

Cash in the form of gold coins and banknotes has provided people with anonymity and privacy regarding their transactions for centuries.....  

The money belonged to the people, not to the mint that created the particular coin or banknote.  It was strictly forbidden to counterfeit money, but the state did not control their use in the process of market relations.  People were masters of their money.  

However, the massive introduction of CBDC can turn people into slaves to those who control the CBDC system.

But it must also be realized that investing or trading in crypto is not an easy thing,
there are many things that must be prepared before actually jumping into crypto,
as long as you can make good use of crypto then the profits will come.

However, at the beginning of the 21st century, the idea of ​​creating a global virtual Metaverse captured the imagination of people.  This happened after most of the world's population watched the cult film "The Matrix". 

People were shocked by the opportunity to live in a virtual world where ordinary physical laws do not apply, and a person can become a demigod.  The desire to create a virtual metaverse has led people to give up (perhaps temporarily) the dream of conquering the near, middle and outer space.  At the same time, the development of new space began to occur incredibly quickly. 

Computers, the Internet, laptops, smartphones, 3-D graphics, virtual and augmented reality, neural networks, cryptocurrencies...

If the pace of scientific and technological progress does not slow down, then many new miracles await us!

You said it so true dude, apart from crypto being a type of currency, it also becomes an opportunity for others to have a source of money more than an employee with no boss and no one to hold your time but it's really just us.

And the beauty of cryptocurrency over other fiat is that there are many options for it to help us in the future. You just need to work and struggle.

Crypto is truly here to stay, the reality is all around us now, and nothing could undo it anymore. But there are many things we should consider when it comes to cyber security, crypto is not in any way helping out as your post insinuates. In contrast, it is adding to the loopholes that the scammers could use to evade being seen.

Many hackers, money launderers, traffickers and more prefer to use it due to its nature, but the world would continue to view it as one of its disadvantage of crypto compared to the more advantages that it has brought to the world.

We don't need to hear this from an evil organization. We already know that. If they have any future plans for crypto you can be sure that it won't be any good for the humanity. These are the motherfuckers who want you to have nothing by 2030. Following that logic they want crypto to become nothing in 2030 too. We can't have this. WEF needs to disband.

I would guess that "in the future" it will happen, but in an era where people can't even afford to buy the latest GPU, and even if they could it could run out of stock, I highly doubt we are there at all. I think it's clear that technology needs to improve a lot more, and I mean a lot more in the sense that sci-fi novels type of a lot more, flying cars and all that type of a lot more.

Because right now, the tech is at the infancy stage and it's possible to build a world in a very crude manager, like caveman period of humanity by comparison. This means we need to wait decades before we could do anything close to that. This means we will be pretty old when it happens, maybe not be alive.

The Internet and Bitcoin are the two most important protocols for the functioning of virtual reality (which in the future will be indistinguishable from real reality). 

The Internet is a very fascinating thing, but it is still inferior to real human reality.  As futurist and author Roger Zelazny wrote, at its peak, technology is indistinguishable from magic. 

I think we'll see how a real person's avatar can make a bitcoin transaction by shaking hands with another person's avatar.  And it will be real magic in the future Metaverse!

cryptocurrency doesnt pretend to be a transformer, a car, a tin of vegetables or your next girlfriend.
its a currency.. yes currency wont wash the dishes for you or fill your belly
yes its a currency(money) game, not a dating or eating or playing game

but you have to ask what can bitcoin do that other currencies cant/wont
paypal is controlled by a business. they set the user agreement and policy over who, how, when, where and how much can be spent and the fees..

crypto has more freedoms
its programmable money without a bank manager or ceo

crypto currencies consensus rules are completely different model than paypal user agreements

if you think "ill just use paypal" then why does venmo exist and has more utility
if you think "ill just use dollar" then why does yuan, pound, euro exist

each currency has its own utility, some better then others, some worse

if you cant notices the differences, research it more

What you said is not wrong, cryptodon't have any application other than bump-dump for profit, in a way, it's all just a money game. I don't know if it can be developed and researched further and put into practical application, but it doesn't bring any utility to life at the moment. Thousands of altcoin projects are created with the claim of creating utility that will solve problems for society but so far, apart from hype to scam each other, not a single project has been put into practice. 


It's not a big deal to mention, if not using cryptocurrencies, there are other ways, even PayPal can do it.

blockchain utility is currency with rules. currency you can check was created the proper way, within the rules and not just randomly created from nothing outside of any logic/rule
PoW blockchains means the currency creation comes at a non zero cost meaning it creates value discovery
(no im not talking about speculative premium market that sits above non zero bottom value)

i buy bitcoin face to face, no bank needed. i dont need a bank manager to then set up joint bank accounts. nor need bank managers to set up family trust funds..  i just make multisig

if i want to transfer i dont have to give out my name, location(billing address) plus account details just to spend funds. i simply type in the destination
with fiat, banks can do deals with merchants to gather shopping list receipts(you know when they ask you to go into these cashback accounts if you buy from certain retailers) bitcoin however does not list what you bought on the blockchain.. no items no names


if i want to transfer to people i know internationally i just set the destination recipient, and its done. i dont need to worry about figuring out the different fee's per location and check if that location has a bank or western union kiosk, or having to pay a 3-way conversion fee.  i just send to a bitcoin address

bitcoin doesnt have limits of 0.06 before a bank stops payment to question why you need to transfer more then 0.06 per day

if i want to do inheritance. i can just put funds onto keys.. done

holding fiat for 5 years means the same $1m will buy me less food, drink, goods after the 5 years
holding btc for 5 years means the same xbtc will buy me more food, drink, goods after the 5 years

im not talking about the speculated market premium of random ATH. im talking about the deflationary raises of a non-zero bottom value

Cryptocurrency is here to stay and the world has to deal with it. I recently read this article where Thomas Fattorusso, a top Internal Revenue Service (IRS) official said Cryptocurrency is here to stay. As far as I’m concerned, it isn’t going anywhere anytime soon and it’s becoming more legitimate. As the years roll on, it becomes more sophisticated. He even went further to mention that they are looking to build partnerships and to have a relationship with crypto firms that isn’t contentious, and is more of a symbiotic relationship. See we are slowly getting there.

When did I hear this? Probably in 2018 when the bullish market peaked, the price collapsed and people started making rationalizations how this is a good thing, the market is cleansing itself, only good projects will remain. And what happened next? Just a new wave of scams in new formats - DeFi, NFT, stablecoins instead of ICO.

There's a saying "the market can remain irrational for longer than you can remain solvent". It's clear that crypto market doesn't provide any real utility to society, and yet it still exists and attracts investors. Maybe the real utility of crypto market is it being a casino.

Although cryptos aren't a new thing anymore and we already witness how things go with them, I still think that the internet is more important because it is much older and there are so many things that it can do but cryptos are only a currency (or can also be an asset) but If there will be no cryptos then people can still function properly. There are still alternatives out there that they can use but not if the internet disappeared all of a sudden.

Now talking about the Metaverse; They are not a new thing as well but their graphics are still poor. It may still take time for them to look real like on what we see on most video games right now like for example in GTA V.

In my opinion, both the Internet and cryptocurrencies are incredibly important and revolutionary inventions.  These are two steps towards building a full-fledged virtual space (Virtu space). 

The Internet is the first trial model of the Virtu space.  Bitcoin is a decentralized value transfer protocol in a given virtual space.  At the same time, one must take into account that the creation of a virtual space (Virtu, Metaverse, etc.) is far from over, it is just beginning. 

In the future, the virtual space will be absolutely indistinguishable from the real world and people will actively use it for work, communication and entertainment. 

The virtual space will be based on several basic protocols, and Bitcoin will be the most important of them.

The future of cryptocurrency will not be like the internet because the internet requires massive amount of investment to work normally and it's typically centralized. True cryptocurrency will continue to exist in decentralized manner while the false ones will be centralized and controlled/regulated by power hungry tyrants. True cryptocurrencies will be decentralized and controlled by codes and community of global participants... And anyone is free to join and leave at will... It will be voluntary.
This is why I choose Bitcoin because it can never be controlled by power hungry  tyrants.
The false cryptocurrencies will be controlled and Centralized by them via Trojan horse like Proof of Stake.


Lest I forget, internet is still very much unsafe and riddled with scammers, crooks etc. The ones who control the internet failed massive in this areas. They need to solve that first before talking about crypto.

The massive crash was general. It affected both the stock market and online websites like Facebook. Cryptocurrency's was very much expected by few people who matter or those who are really at the top in true Crypto space. They are predicting a massive bull run soon and I believe them. So, thanks for the concern. You can now go and fix the massive corruption of the internet

Wrong wording. I meant despite those things Internet has become need in our lives.

Hilarious! So, you're trying to say that internet is not plagued by viruses and scams right now? Haha... in fact, the more advanced a technology is, the more complicated the scams get. 

I'm not going to talk about the connection between the dot com bubble and crypto from a technological point of view, but from an economic point of view. We know that the dot com bubble was a period when many technology stocks went up very high and eventually plunged and this resulted in many technology companies going bankrupt and closing their businesses. And that has just happened to the crypto world as well. The crypto market experienced a peak when the Bitcoin price briefly hit $69K and then fell sharply, until now the price of BTC is around $16K. This downturn in the crypto market led to hundreds of crypto projects going bankrupt and closing their businesses, and it was most felt in the Defi sector.

With the loss of crypto market capitalization this is causing many investors to suffer losses and crypto projects are no longer running their business, and this makes the crypto market seem unstable. However, it actually makes the crypto market healthier as what CZ said "the market is much healthier in the current winter conditions because only the crypto-believers remain in the field" ( https://cryptoslate.com/binances-cz-thinks-crypto-market-is-much-healthier-with-btc-around-20k/ ). The crypto market is getting healthier these days, with lots of "true" crypto projects, rather than projects that simply offer returns and then disappear. Maybe this will cause many people to be skeptical of the crypto market, but believe me crypto will be more attractive and will be more and more used in the future. Maybe in the future the crypto market will experience another significant increase, but it will also be accompanied by a significant decline and that will make this market even stronger with more innovative and real projects.

Doesn't crypto market go through this in every bull market? people throw money at anything everything and make money, pour same money in market expecting same results and there comes the winter.

People trend towards remembering ideas and arguments which they believe to be accurate and intelligent.

While abandoning and forgetting comparisons which they believe to be the opposite.

Time will tell if people accept the "dot com fallout" as a good explanation. Check back in 6 to 12 months and see if the idea has taken off. Or if people have chosen to dismiss it as being counter intuitive.

What happened with the silicon valley dot com bubble is, people threw money at everything vaguely dot comish expecting linear returns. Instead they received steadily diminishing returns, severe enough to result in a bubble. Does this draw direct parallels to our current state of crypto? Will the general public accept that as a good explanation for the crash of crypto assets in 2022? I would be curious to know the answer, myself.

That is why so many upcoming projects are waiting for better market conditions to launch themselves through IDO and some have postponed their ongoing marketing and IDO continuation till they see some good signs of recovery from the markets because they don't want to see themselves dumped in lieu of current market conditions, despite being providing the best products till now. We can call that a way to protect their investors from feeling cheated.

And there are companies that still exist up to this day even though majority have failed and lost in history. And this could also be compared to projects that despite the worst crypto winter, or as the article says "but more of an ice age".

I think that is the natural cycle of any boom and bust industry, only the fittest survived, become stronger evolved and teaches lesson for the next company on how to prepared for the worst and stay strong.

Even if it isn't the WEF's official stance the article reads exactly how the WEF would try to abuse crypto and use it for control. Seems the author is taking an angle of CBDC's when they allude to a responsible use of blockchain. "Responsible use" of blockchain by a globalist organization like the WEF just means blockchain at the control of the elite under the guise of consumer protection and safety. As if consumers want to be protected from the people at the WEF.

The article isn't explicitly a WEF's stance.


And the author himself is the CSO of Circle.

Anyway, crypto is indeed will always here to stay, but with a constant scrutiny and stricter regulation. In fact, it seems that is what the articles mostly talk about, a firm regulation will make crypto "safer", and in consequence, a project like Circle would utilise its full potency. Leaving privacy-preserving technologies at behind, so there is a clear distinction about which are the good or bad side of crypto.

Aren't we using it already in many ways? We even donate to Ukraine with crypto.
I could say, it's pretty much the same industry that people tend to speculate to die just like the internet where people tend to think, WWW is just going to be for the computer guys but look at how the web developed that we send money across the internet eg. Paypal.
It took years how the internet becomes available to the masses but it starts as a tool for the military and then in the 90s is where I first used it.

Crypto is in the early stage yet. But most important of all is how the blockchain will be used by companies on the web. Right now it hasn't popped out yet but many blockchains are already promising use cases like Vechain.

The comparisons between the internet and the crypto industry will never end.
I don't want to be the guy, who puts salt in the wound, but crypto cannot be compared to the world wide web.
The internet has utility, but what's the utility of crypto? Buy low-Sell high? What's the utility of blockchain technology, other than being the infrastructure for a bunch of speculative assets(Bitcoin and the altcoins)? I'm not saying that Bitcoin being a speculative asset is something bad, but I simply can't seem to find any other utility tied to Bitcoin. Privacy? Well, BTC isn't anonymous. Being a currency for the unbanked?
In most cases, you can't buy BTC without a bank account. Yes, crypto is here to stay and the scams won't crypto from growing, but the real question is: How useful crypto actually is?

I don't know if this is anyone else's experience but a lot of the older populations that complained about people being on their phones pre-pandemic and now predominantly doing the same thing.

The same seems likely to happen with cryptocurrency or at least a CBDC with good privacy controls.

The dot com bubble made some new companies strong, some old companies stronger/more prepared and lay the groundwork for other companies to emerge once a lot of the original companies crashed.

Report compares current crash with dot com fallout of 2000 which resulted in an evolution of the internet to more durable companies and business models.

The early days of the internet were plagued with viruses and scams, yet email and the World Wide Web did not get banned. Similarly the embrace of crypto technology is equally inevitable.


Read article: https://www.weforum.org/agenda/2023/01/future-of-cryptocurrencies-davos2023