Did too many people get burned too bad this time?
Is the negative outlook too much now?
I worry that this may be the beginning of the end to many long lasting projects and potentially bitcoin itself... This crypto winter has at least another year to run its course and we are still watching the FTX fallout unravel.
It's some tough times, indeed... All the bags of worthless tokens that were once projects of potential.
Anyone out there have words of encouragement regarding the future of crypto? Anything the future holds to look forward to?
I am not worried about bitcoin at all, the fundamentals of bitcoin are still as strong as they were before the collapse of Luna or FTX, however altcoins are the real problem, we do not need 10000 different coins, do we really have 10000 different ideas and applications for the blockchain that we need so many coins? Obviously not, so I hope that during the next year at least half of those coins disappear, I know they will soon be replaced by other useless coins but we need to reduce that number somewhat as that number is simply unsustainable.