Even cryptocurrency fans are starting to doubt cryptocurrencies
The anti-crypto movement is no longer spontaneously limited to bankers, economists and politicians embodying the system challenged by bitcoin technology. Mistrust is growing and the opposition is uniting, weakening even the communities of enthusiasts and “first adopters”.
Here is the story of a young French crypto veteran who has also decided to lay down his technological weapons on the front lines of a market where many seem to be capitulating. Nicolas Bustamante, precocious entrepreneur, promoted in the ranking Under 30 of Forbes for his artificial intelligence startup Doctrine, a kind of ” Google of law », recalls having discovered bitcoin in 2012. Random documentary research for his final work on the banking system.
Admitting to being fascinated by the concept of a currency free from government manipulation, Nicolas quickly downloaded the entire Bitcoin blockchain, which weighed less than 10 gigabytes at the time. But he especially remembers the few people with whom he could then exchange BTC, the first time the price crossed 1,000 dollars at the end of 2013, the approximately 200 dollars that the cryptocurrency was worth in August 2015…
” I observed this space intermittently, which I perceived as a gigantic casino. Remember Namecoin, MaidSafe, Bitconnect and Bitshares? All of these coins were showing billions of dollars and then disappeared, leaving investors with nothing”, pin Nicolas Bustamante.
