More Bad News for the Crypto World?

Whether it be engineered or simply a result of the blindness of the new generation of business leaders and their followers. The crypto-currency world is headed for more chaos and disappointment.

The recent failure of Celcius to continue to conduct business demonstrates there are further hardships ahead. The false hopes and promises of many of the crypto-enthusiasts and entrepreneurs are being recognized as illusions, scams, and just out-right "hopium." There have been many legitimate concerns about the limitations of the technology dismissed as "negativity" and ignorance that are now coming to fruition and as a result, more and more of those who trusted and invested into these enterprises are now withdrawing their support. And as that continues even greater fissures are opening in the promises of the technology.

Much like the dot-com bubble. People who had a good marketing angle and were heavily capitalized. Used that opportunity to blow the money on short sided idealism. That cycle is only being repeated by a new generation of entrepreneur and investor that, in my opinion, are even more susceptible to being fooled and misled.

Which points to some of those inherent flaws in the current offerings of crypto that people haven't paid enough attention to. Ethereum is certainly one to question. When it comes to the over-promising and then under delivering of project's potential, Ethereum has got to be in the conversation. And being that many of the thousands of cryptos out there have some tie to Ethereum. It's becoming more and more likely to be the Enron of the early crypto industry.

Where is the bottom for this cycle? It's going to get much more scary in my humble opinion. With the nearing crisis of the entire fiat financial system, the crypto industry will also have negative outside influences to deal with as well. Needless to say, we've got much further down to go. 

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