I truly love the technology but I cannot see the usecase and I think bitcoin and cryptos more than empowering the poor would actually weaken them at least couple of generations
This news below is literally hours ago. This doesn't make Gold a non reliable asset, doesn't affect the value of person holding it, or make gold lose its use case.
Just think about the poor people of Zimbabwe who bought bitcoin over 15k with huge premiums... Just imagine how poorer they have become ... It's interesting how no one talks about it anymore...
I feel that this argument is on the same lines of "why do we need space exploration when there are people starving" argument. Not the same context but I can't help but see the similarity of these arguments.
A, everyone owe it to themselves to learn about market cycles before investing in anything. Including gold. Regardless of the asset you cannot expect any asset to only grow forever.
B, this needs to be compared to how hyperinflated their currency is in the first place. Zimbabwe's peak month of inflation is estimated at 79.6 billion percent in mid-November 2008. I know that's not the case right now but it is what resulted into this:
It goes without saying that you shouldn't invest all you have into crypto, regardless of whether you're poor or rich. There's a wrong time to invest in every asset. It's not like people who invested in crypto in the US or UK or somewhere else are better off. People have sold their houses or took a second mortgage just to invest in bitcoin at 20k and got rekt. For instance people have been calling Bitcoin dip to current levels since Dec 2017. If you fail to do the research, or ignore all the knowledgeable people in this space and put in everything you have who can you really blame but yourself? And I say that with the deepest sympathy to everyone who is invested in it and lost.
And if you're saying that now, the future is going to be even more bleak. Some analysts contend that there will be a centralization of the PoW coins toward one coin. Meaning people who have invested in smaller altcoins are going to be completely rekt at some point. What can you do right now to tell them to stay off of those coins? You don't even know if it's really going to happen. What if they turn out to be right and you turn out to be wrong and they become poor because of it?