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I think crypto is interesting as an extension of regular fiat currency.
I was reading up on various economic situations that resulted in recessions and depressions and how they related to currency backed by some valuable resource, like silver, oil, and gold, and how inability to procure those resources interacted with inflation.
Ultimately, aside from resources which have practical applications, all monetary value relies on perception.
In the context of these historic knowledges, it occurred to me the only difference between cryptocurrency and fiat currency was the lack of organization and ability to apply force in relation to those currencies, and large fluctuations in the price of cryptocurrency in response to such organizations, like China, manipulating them willfully reflects this. In this sense, investing in cryptocurrency shouldn't be any different than investing in a particular fiat currency, which has been done. As opposed to other speculative markets, a very pertinent one being real estate, cryptocurrency is backed solely by perception, which is what makes it so volatile, and therefore profitable.
Its volatility however means that it can be easily crushed until one or more of these problems is solved. I think, because there is profit to be made, in this age of ponzis it will probably not be crushed until there's a reason to do so. Lots of money to be made by someone with their finger on the pulse. At the rate it is going, crushing it would cause a full blown crisis, and I estimate it will continue to grow for about two decades, at which point there will be far more to gain by crushing it than leaving it be.
