Palantir Co-founder Says Crypto Market Will Continue to Crash Due to Ponzi Schemes More cryptocurrency businesses will go bankrupt in a Ponzi scheme-like fashion, a venture capitalist predicts. https://www.techtimes.com/articles/...ypto-market-will-continue-crash-due-ponzi.htm 'Investor and Palantir software co-founder Joe Lonsdale predicted that most cryptos would fail in the long run. He claims that the ecosystem as a whole, including different crypto lenders, tokens, and other components, was a "Ponzi scam."'
Bitcoin could plunge 70% to $5,000, Standard Chartered predicts, in possible 2023 ‘surprise’ https://www.cnbc.com/2022/12/05/btc-bitcoin-could-fall-to-5000-standard-chartered-predicts.html
Charlie Munger has repeated many times that the US Dollar is going go zero. Unfortunately, he doesn't know when either. Perhaps this is one reason why he's become a big fan of investing in China, just like Ray Dalio.
Honestly I don't think all crypto will collapse. Some of them would have all sorts of problems. Nevertheless I believe the current state of crypto assets is a necessary period of crypto adoption. In the long run I don’t see how the whole crypto market will just vanish without a trace.
Once people realize it’s all a big Ponzi scheme. I expect the US government will ultimately have a digital currency and will use its power to force other currencies out of business. They have tanks and planes while we have Twitter.
How would that change anything? US dollar is a Ponzi, everyone knows it. Yet... you probably still have the worthless paper tucked away somewhere.