Is crypto era over?

yes

Crypto, in my opinion, has been an opportunity to make money fast due to it's volitility and human emotions. FOMO, Greed, Desire etc etc

However the concept has been broadly defeated as a realistic currency option due to that very volitility and the emergence of hundreds of alt/crap coins.

Ultimately and for good reason, governments want to have some control over the monetary system. So it might happen down the line that states go down the route of their own controllable coin (making the currency controllable probably removes the need for crypto in the first place and the requirement to move to cryto from current is negated)

So for those reasons I see crypto coin as a something over there that people can buy and sell, until for some reason the whole thing comes crashing down. Some people will and have made a lot of money, some will lose, this cycle will continue.

Blockchain however has major uses IF and when people trust it - this is where the issues with implementation start.

It will to be fun to come back here in a few years when Bitcoin is at six figures.

You don't need crypto currency to utilise Blockchain applications. Why would you think that?

The government's simply have to control currency for a multitude of reasons. You only have to look at the pump and dump schemes that are ongoing with crypto to see one reason why.

As for people coming back here in ten years with Bitcoin having a dollar equivalent of six figures, surely that says more about Bitcoin not being a currency in ten years and at most a store of value that ultimately is useless without the ability to convert it to a useable currency. I have my doubts whether it will be a store of value or that value in ten years time either mind.

Any why would this token/currency have a value attached to it?

You're secriously muddying the waters with your second paragraph - there is a big difference between price volatility in crypto and bank robbers.

the majority of the global money supply now comes from the global financial system in the form of credit, hence why governments have limited abilities in controlling it, this is ultimately where a significant proportion of our problems now come from, this is in fact one of the main reasons why the 08 crash occurred, i.e. an over reliance on the private sector money supply, i.e. the credit supply, and a wide scale refusal in accepting this reality.....

Just because you call something a currency doesn't mean it has a value. Block chain has other applications that shouldn't and dont require tokens/currency to be "worth" something.

And surely if the main measure of "worth" is a dollar/euro value you can hardly call it a standalone currency in the first instance.

Market manipulation and scams - are you suggesting this is the only reason that cryto is as volatile as it is - probably is in fairness but doesn't say much for the long term future of the current crop of crypto to be taken seriously as a currency option.

i personally dont think its money at all, but of course this is very debatable, i like many others just believe its a tradable asset, similar to other tradable assets such as stocks and shares, only that its largely unregulated, bearing in mind, fiat is generally used to get in and out of cryptos. its a very interesting development in the whole debate, and very interesting technology, but in its current state, its just not viable for the majority of transactions for various different reasons, as it has not been widely accepted, of course this could change in the future, but many of its current issues must be resolved before doing so, such as its price volatility, its not possible to trade with it under such conditions

Your main argument seems to be "price is down today"

Traditional banking has its own problems too. Futures trading and fractional reserves mean banks are playing with money they don’t have then you have an ever increasing money supply, and people wonder why inflation is sky high. It been increasing since Covid due to the amount of money printed and thrown around like confetti, the Russia situation just made it even worse but it was always coming.

You could say the same of the crypto market. For someone with an IT background you don’t seem to understand the value of it.

Its better to have a small position in it incase it has a huge jump in price than to have no position at all, they trade on the short term and hold otc trades on the long term.

Others think that the trading volatility is is also caused by banking traders trying to manipulate the market.

Did you read the article you linked?

Crypto is dead. Long live crypto.

This is when you start making the money long term.

I use DeFi and didn’t even break much of a sweat when those projects collapsed except for adding more collateral. The key is to use real Defi such as Uniswap and AAVE not centralized finance.

I even bought a car using stable coins.

Gary Gensler the head of the SEC and SBF apparently have links. People are asking how he got to testify in the hearings if his company was insolvent at the time, he is also the second biggest Democrat donor.

The thing about the crypto collapse is that its really affecting the poorer countries that really bought into the whole thing. Lack of fate in their own country's currency and government ala Venezuela, Zimbabwe and Nigeria and hatred for the dollar attracted them into the crypto story. Unfortunately for them they have taken the biggest hit in this ,in the West crypto was just a side show.

The unusual thing about crypto compared to other financial crazes is that it's had a number of cycles, usually there is just one cycle a big peak , then a collapse , then end of the whole thing

When the history of this thing is written it will really be about ultra low interest rates ,that was the factor above all else thar caused the huge crypto bubble and the raising of interest rates and inflation has now burst it