Crypto Winter or Spring Revival? Take CoinDesk's State of Blockchain Survey

A return to normal, rules on the rise, and did you pay the tax, man? Let us know in our latest industry survey.

AccessTimeIconApr 24, 2018 at 1:00 p.m. UTC
Updated Sep 13, 2021 at 7:52 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

After a historic 2017, the cryptocurrency markets took a decided downturn in Q1.

Bitcoin, ethereum, litecoin – and most major cryptocurrencies – saw declines in a variety of metrics: exchange volumes, transaction counts, and, of course, price. With it, too, public sentiment on the technology appears to have become more mixed.

Some naysayers, like Nobel Prize-winning economist Joseph Stiglitz, saw the decline as confirmation that 2017 was a mirage and that bitcoin "ought to be outlawed," while Warren Buffett joined the chorus as prices started to tank and stated that it would “all come to a bad ending."

Still others, like Twitter & Square CEO Jack Dorsey, ignored lowered prices to suggest "the world ultimately will have a single currency…[and] that it will be bitcoin." Peter Thiel made similar comments, while Goldman Sachs issued a report that stressed bitcoin’s usefulness as a crisis currency.

Besides the prices, there was more bad news: Coincheck experienced a huge hack of $400 million, while regulators everywhere from South Korea to the U.S. took pointed aim at the industry. Several banks even went so far as to ban crypto purchases with credit cards, and the most heavily trafficked websites in the world (Twitter, Facebook and Google) all banned crypto-related ads.

While these events all spoke to dimmed prospects for the industry, there were other positive signs: the launch of the Lightning Network, the historic Telegram ICO that raised $1.7 billion and Rakuten (the Amazon of Japan) announcing plans to migrate its entire $9 billion loyalty program over to a cryptocurrency.

Where do we go from here? 

Make your voice heard by filling in the survey here:

Create your own user feedback survey

As an alternative to the embedded survey, just click the link below:

The results of the survey will be analyzed and published in CoinDesk Research's forthcoming State of Blockchain Q1 2018 report.

Flowers in bloom image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.