re: Why is crypto crashing?

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The fact that so many are now pivoting away from it being called or used as currency is proof that this is nothing but a tulip craze.

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Some people are pivoting away from that because it is evolving into something else. The technology is advancing to fill niches in other sectors.

We're posting on a sports board, so let's use a sporting event as an example: It's the 2025 football season. Tiger Stadium has gone to an all-digital ticket. I'm wondering around Tiger Stadium and looking for a ticket. I see a dude holding up two fingers and approach him about buying them. He looks pretty sketchy, but I really want to see the game.

He shows me the digital tickets on his phone. I agree to his price. We both open the ticketing app. I input the amount he wants and hit send. It then adds a service fee and puts the ticket in a digital escrow account. The seller then sends his tickets to the escrow account. The back-end software (smart contract) confirms on the blockchain that the tickets are real and belong to the seller and also that I have the correct amount of money. The contract then deposits the money in the sellers account and the ticket in my account and records the transaction on the blockchain.

That's a very real "cryptocurrency" scenario you will see in the future.

Now, why can't ticketmaster just run their own private ledger on their own server? They could, but it would be susceptible to being hacked/compromised/gamed. A decentralized blockchain solves this by confirming it on copies of the ledger spread out across the validators. If the majority of the validators agree the ticket is real, then it's real.