RE: Crypto Roller Coaster - thank God I am off it
Not sure there's any real technology in crypto either, just recycled stuff that's already been implemented in USD system.
That said, over 90% of dotcom bubble was crap, but from all that crap emerged a small handful of longterm winners. For whatever reason, it might be true that TRULY decentralized organizations has a long future. At first, it will most likely glom onto semi-legal and illegal activities like porn and sports gambling. But it can grow to more, as the only real thing underlying it all is a new faith in algorythms. Should we be surprised that humans will one day collectively trust algos? Let's look at just a couple of examples:
#1 Elevators
Remember when they used to obey your commands, and respond immediately to anything you directed? Wanna open and shut the elevator door 1,000 times in a row, screwing everyone in the bulding? You could do that 30 years ago. Now, impossible, the engineers built algos which ignore human input. Go ahead and look at the rules for robots (do not kill humans etc...) and see how we're already knee deep into violating them.
#2 Self-driving cars
Literally taking life out of one's own hands, and giving it to some engineer in Palo Alto to protect you. Are you a better driver than a robot?
De-centralization has the ability to take power out of human hands, and put the power into an algo-- changing how entire organizations run. There will be pros and cons, but it will be a new tool a motivated human can use to possibly change the course of human history.
It's... quite frankly... a Revolution... via code.
The programmer geeks are taking over.