Crypto market cap "will surpass $1 trillion": Sirer explains how...

Cornell professor and blockchain expert Emin Gün Sirer recently gave a bullish prediction for the future of Bitcoin. He claims that its total market cap will eventually reach $1 trillion, and gave an outline of how this is likely to come about.
Crypto market cap will surpass $1 trillion: Sirer explains how...
Sirer was responding to an article from The Economist that suggested Bitcoin's days may be numbered. He started out by insisting that arguments made about crypto based on the price of assets are fundamentally flawed, giving a few examples of how its value has changed as the underlying technology has remained essentially the same.

For a while, prices rose thanks to Willybot at Mt. Gox. Then crashed. Then they rose with the Tether pump. They are deflating now. Meanwhile, the tech has been fairly stationary, its limitations are well known and understood.
That understanding isn't well distributed, partly because the coin pumpers actively create and maintain echo chambers, and partly because people become willfully deaf to rational discourse when they invest.

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Unlike many in the crypto community, the Cornell professor didn't place the blame for a lack of understanding firmly at the door of regulators and the 'mainstream media'. He pointed out how "coin pumpers" deliberately mislead potential investors on a regular basis, and claimed that the SEC's reluctance to take a more permissive attitidue to Bitcoin was understandable, given how many people in crypto are willing to go along with this practice.

On a side note, this is why the SEC has all those regulations: to protect people from their own stupidity. It makes no sense to rail against government regulation while treating crypto as a cult in heavily censored forums where people are actively misled.
Crypto winter will end.

We reached $700B with inherently unscalable technologies.

We will surpass $1T when we figure out how to scale, how to build non-custodial solutions, how to layer apps that people want to use and that bring net positive outcomes to society.

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According to Sirer, the fact that the crypto industry managed to reach a $700 billion market cap with technology that was "inherently unscalable" and generally immature suggests good things for its future. He believes that a much higher market cap will be possible once scalability is solved, along with better use cases and improved custodial solutions.
Source at Chepicap

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