No institution is going to grow in the space to facilitate the transactions
Real crypto dudes perfectly know that the basic property of cryptocurrency is that you absolutely don't need any institutions to facilitate the transactions because easiest possible way to do transaction in crypto is doing it from your own node. You can't somehow facilitate it more. And you don't need ANY third-party to use crypto.
So, no, it is not crypto end. It will be perfect if all that shitty and comletely unneeded excahnges will finally bankrupt and disappear. It will be the best day in cryptocurrency world. Great Cleaning from all that dumbfucks who didn't RTFM and thought that cryptocurrency is just another gambling shit like stocks or futures.
(get your stuff off the exchanges and into a cold wallet -- an old computer running veracrypt container or a hardware wallet....i personally recommend former over latter because do you really know what those hardware wallets are doing? You do not. They are not open source software nor are they open hardware/firmware.
This is crytpo after all...can you guarantee there are not state-corporate backdoors? You can't)
Actually I may be wrong...ledger and/or trezor may be open source but I am not wrong about backdoors...they have proprietary hardware which means of course there are government / corporate backdoors
every single G D piece of hardware that we've seen has been backdoored
every router ever made -> NSA::TAO tailored access operations
every cisco, ibm, microsoft appliance ever made, even and esp commercial / enterprise ones
every dell, hp ever made
every ubiquiti device, sadly
Siemens -> us military / stuxnet
every wifi chip ever made -> nsa / 5g alliance / others
every INTEL cpu has multiple backdoors even a 'remote management engine'
every AMD cpu has a secondary CPU embedded in it...german researchers have gone into exhaustive detail and it's unclear if the CPU can be used as a backdoor but it certainly used to verify its own hardware (it's a security feature and embedded trusted platform appliance)
NVIDIA gpus have backdoors
I assume AMD ones do too
BIOS from taiwan and china have backdoors
Huawei is one big china backdoor
CHYNA LED lights, including commercial ones have hidden undisclosed bluetooth, cellphone and/or wifi chips embeded in them, I assume to create a 'whispernet' type of stealth communications peer to peer mesh network / grid
Every single apple hardware ever made and ESP the IPHONE (all)
Every google phone / android phone without exception
tell me again why a hardware wallet would be immune to government hardware backdoors?
For example, because you are smart and made your hardware wallet from chips that made in another, preferrably rivaling jurisdiction. Since hardware wallet don't need networking to do the job, only USB, even if your PC is backdoored, they can't access hardware wallet internals, all what they will see is just an USB device that generates ready-to-send and absolutely public transaction block after you press a button on hardware wallet if you want to spend some coins. To receive coins you don't need to do anything with wallet at all. Also, chances that your local authorities could use rival implemented backdors is minimal even if your hardware wallet will fall to their hands.
However, I think it is not a very good idea to use hardware wallet. It could broke, seized or be lost. If you by design have no ability to extract private keys from it after wallet initialisation and save them on paper or somehow else, then you will be screwed.
Real crypto dudes perfectly know that the basic property of cryptocurrency is that you absolutely don't need any institutions to facilitate the transactions because easiest possible way to do transaction in crypto is doing it from your own node. You can't somehow facilitate it more. And you don't need ANY third-party to use crypto.
So, no, it is not crypto end. It will be perfect if all that shitty and comletely unneeded excahnges will finally bankrupt and disappear. It will be the best day in cryptocurrency world. Great Cleaning from all that dumbfucks who didn't RTFM and thought that cryptocurrency is just another gambling shit like stocks or futures.
Good points
Not your keys not your crypto
(get your stuff off the exchanges and into a cold wallet -- an old computer running veracrypt container or a hardware wallet....i personally recommend former over latter because do you really know what those hardware wallets are doing? You do not. They are not open source software nor are they open hardware/firmware. This is crytpo after all...can you guarantee there are not state-corporate backdoors? You can't)
Actually I may be wrong...ledger and/or trezor may be open source but I am not wrong about backdoors...they have proprietary hardware which means of course there are government / corporate backdoors
every single G D piece of hardware that we've seen has been backdoored
tell me again why a hardware wallet would be immune to government hardware backdoors?
( i also suspect raspberry pi also, all compromised...except by the UK gov)
For example, because you are smart and made your hardware wallet from chips that made in another, preferrably rivaling jurisdiction. Since hardware wallet don't need networking to do the job, only USB, even if your PC is backdoored, they can't access hardware wallet internals, all what they will see is just an USB device that generates ready-to-send and absolutely public transaction block after you press a button on hardware wallet if you want to spend some coins. To receive coins you don't need to do anything with wallet at all. Also, chances that your local authorities could use rival implemented backdors is minimal even if your hardware wallet will fall to their hands.
However, I think it is not a very good idea to use hardware wallet. It could broke, seized or be lost. If you by design have no ability to extract private keys from it after wallet initialisation and save them on paper or somehow else, then you will be screwed.