Targeting the next 10x, 10 reasons why the crypto market will grow rapidly

Original author: rektdiomedes

Original compilation: Kate, Marsbit

Note: This article comes from @rektdiomedes on Twitter, edited by @thedailydegenhq. @silentdao_Ambassador, the original tweet content was compiled by MarsBit as follows:

Throughout last year, we heard declarations of the death of cryptocurrency, yet it remained resilient…

In that spirit...here are ten reasons why it will not only survive but thrive and grow 10x in the coming years.

1: Stable currency

Currently, stablecoins have clearly proven themselves to be a “sticky use case” for cryptocurrencies.

The global demand for U.S. dollars in particular is huge, and the growth of stablecoins is increasingly meeting this demand…

https://twitter.com/ChainLinkGod/status/1528760841448919045

The most important examples so far are in countries like Pakistan and Argentina, but the value support of stablecoins is equally important in Western economies, as we will discuss below...

https://twitter.com/AsfiShaheen/status/1552130416265424896

2: Superior financial track

On top of the above, the rise of extremely cheap block space, such as through the rise of L2, coupled with the ubiquity of stablecoins, has created a payment instrument that is significantly better than traditional banks.

https://twitter.com/santiagoroel/status/1490814723109052418

Anyone who runs an online business using on-chain stablecoins knows that it is 100 times more efficient than relying on companies like Payoneer/Wise, which are often a nightmare because they are forced to follow an inefficient and anachronistic tradefi track .

https://twitter.com/sobradob/status/1546141704645971969

3. Organizations adopt

It seems increasingly likely that we will see a spot Bitcoin ETF approved, with more and more respected tradefi voices voicing support for Bitcoin (and in many cases DeFi as well).

https://twitter.com/Cointelegraph/status/1686728948154318848

In fact, Wall Street seems to have finally decided that it would rather cash in on the public’s enthusiasm for cryptocurrencies than fight it.

Perhaps nothing exemplifies this more than Larry Finks views on cryptocurrencies:

https://twitter.com/asphodel1 985/status/1689827041888124928 

Four: Privacy/Account Abstraction

The lack of privacy-enabled options hinders the adoption of cryptocurrencies for mainstream business needs, but in my opinion, solutions from projects like @silentdao_ will provide the strongest push in this direction:

https://twitter.com/rektdiomedes/status/1673606136551841793

5: An increasingly digital economy

The dominant theme of this decade seems to be the increasing onlineization of global commerce.

Remote work, cryptocurrencies, artificial intelligence, social media, and more are all part of it.

As this evolution accelerates, the advantages of internet-native crypto assets/infrastructure will become increasingly clear compared to existing bank-based systems that are not adapted to the online world.

https://twitter.com/BackTheBunny/status/1692380238393827812

This is even more true when one considers the increasingly flattening nature of the world economy. Online economic players in emerging markets such as Nigeria and the Philippines have essentially “leapfrog” the traditional global banking system entirely.

Six: Demeaning/Reflexive

Obviously, the West has no political will for fiscal austerity, and even Powells interest rate hikes can only highlight the issue of fiscal dominance. The surge in U.S. interest payments has led to a further expansion of the budget deficit...

This creates a fascinating feedback loop, with devaluation raising the nominal price of crypto-assets, further catalyzing a speculative boom that generates public interest in them, and in turn fosters adoption:

https://twitter.com/rektdiomedes/status/1599121373460168705

Seven: Personal Sovereignty

Im a born optimist, but I dont think anyone can argue that places like the United States, Canada, and Western Europe are in decline socially, culturally, demographically, economically, etc...

https://twitter.com/rektdiomedes/status/1541736560714039296

As things inevitably get worse and the aforementioned sovereign debt crisis escalates, the permissionless and self-custodial value prop provided by cryptocurrencies becomes even more important.

https://twitter.com/Dynamo_Patrick/status/1634291208125071362

Eight: Destiny is bullish

As things become more dysfunctional and traditional paths to upward mobility become less realistic for ordinary people, the publics preference for gambling and more depraved forms of speculation increases...

https://twitter.com/TheCryptoDog/status/1453993606964912130

This gives me a fatefully bullish feeling about the success of cryptocurrencies...

Its not a positive development, but I think its an important variable in any discussion of crypto success.

https://twitter.com/GCRClassic/status/1530256413330644995

Nine: Consistency with Culture Change

Cryptocurrencies in many ways play into the growing rejection of the corporate work culture of cubicle farms.

This paradigm shift has been ongoing since the 1990s but has accelerated in recent years…

Obviously, this is partly a downstream effect of the digital economy, but its impact goes further than that. It represents a profound positive spiritual shift away from the Kafkaesque errorism of late Western culture:

https://twitter.com/redphonecrypto/status/1603245013135392768

Ten: Intellectual capital

Finally, perhaps the strongest reason why I believe cryptocurrencies are destined to grow 10x is that it attracts the smartest/smartest/most creative young people on the planet…

https://twitter.com/rektdiomedes/status/1671078151672434688

The greatest thinkers of our generation are building on every aspect of the on-chain economy.

In my opinion, it’s not so much a bet on cryptocurrencies as it is a bet on this huge source of intellectual capital.

Finally: Id love to hear any/all thoughts on the above! Am I right/wrong/etc?