No, my argument is that it will eat the whole financial system over the next few decades. Buying ETH or BTC is like buying a share of HTTP. The value of the ecosystem is captured at the protocol layer. If crypto bulls are right, the market cap for Bitcoin and Ethereum will be in the trillions and a significant portion of the financial system from banking to insurance to derivatives to stock market trading will all be traded on these chains.
Why? What advantage does Crypto offer that the current financial system doesn’t. It feels to me to be inferior in the fact that transactions can’t be taken back, and don’t have a firm legal framework behind it; in terms of cost and latency, a third party is always going to be able to set up a cheaper to run system. What about current banking and finance makes crypto superior in any way?
