Anthony Pompliano declared most of the crypto industry is dead and never coming back after spending one day at the Consensus Miami conference, sparking fierce debate across the sector.
Ghost Chains And Zombie Coins Dominate The Landscape
Pompliano explained in a podcast update that the natural business cycle doesn’t play out in crypto.
In traditional industries, failed companies shut down, and investors reallocate capital elsewhere. But blockchains almost never shut down and coins almost never go to zero.
One or two people can keep “ghost chains” running and create the illusion that the blockchain is still alive and in use.
Meanwhile, “zombie coins” lose most of their value and liquidity evaporates, but tokens don’t officially go to zero.
With millions of coins and thousands of blockchains, Pompliano asked the audience at Consensus if anyone believes millions of crypto coins will thrive in the future. Zero people raised their hands.
Mercenaries Replace Missionaries
The industry used to be defined by hardcore missionaries who would rather see Bitcoin (CRYPTO: …
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