From bitcoin to stablecoins to NFTs, what is the point of crypto? - Vox
vox.com · 4,129 words · saved by 1 readers
Crypto is a solution in search of a problem — or problems.
When it comes to crypto, all the questions sort of boil down to one: What, actually, is the point of it? Crypto is supposed to be special, i.e., not like other markets — at least if you listen to its boosters. But what if it’s not? It’s felt pretty spectacularly unspecial lately. The crypto market has been in a bit of a meltdown. The price of bitcoin, the godfather of the space, has fallen by more than half of its 2021 peak, and billions of dollars of value were lost from cryptocurrencies in a matter of hours. Coins that are supposed to be “stable” are looking anything but, and one of the…
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