Combined cryptocurrencies ever increasing token supply


Five years ago, during the hype of 2017 bull market, hacking concerns within a Decentralized Autonomous Organization related to Ethereum led to a fork and lawsuit concerning governance and possible asset classification as securities. Today's crypto issues remain intact and unsolved.

Five years in information technology is an eternity. Compliance and regulatory concerns are exacerbated, a greater number of users do not find relief in the industry's widespread lack of security. A current class action jury trial against Coinbase estimates combined plaintiff loss in excess of one billion dollars.

As further investigations reach most exchanges and platforms, disputed amounts could approach total market capitalization of all cryptocurrencies. It seems people over the years have placed their money into the most gigantic laundromat ever devised. International law remains lagging to speed of fraudulent transactions.

Central banks show recent determination to reduce fiat money supply. Scarcity, the most advertised quality of cryptocurrencies, is substituted by abundance of new token issuance. Use cases for common citizens remain sporadic. Crypto industry main advertising theme remains speculation through entertainment.

Inflation is entrenched and central banks will continue increasing rates in the foreseable future. If interest rates are held at high levels for the long term, incumbent traditional financing might adapt technological advances promoted by crypto and keep market share intact. Disruption without security won't survive long.

Rubén Rivero

Caracas, Venezuela

Fotografía Wilfredo Rafael. 40 Grados bajo el Sol