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Opinion
Leonid Bershidsky

Imagine There’s No Crypto. It’s Too Easy If You Try

Cryptocurrencies won’t conquer our wallets until they capture more of our imaginations. 

When crypto is child’s play, it will have won.

When crypto is child’s play, it will have won.

Photographer: Matt Cardy/Getty Images Europe

Crypto is seemingly everywhere in 2022. The total market cap of all cryptocurrencies is still above $2 trillion despite some recent losses. In 2021, people spent more than $44 billion on non-fungible tokens, or virtual ownership rights on digital objects — an amount that approached the total size of global art and antique sales in 2020. The notion of “Web 3.0” has firmly attached itself to crypto in the past year or so.

And yet, 13 years after the first Bitcoin was mined, I can’t help thinking that not much would change for the vast majority of us if we woke up one morning and found that the entire crypto phenomenon had disappeared forever.