Euroviews. 2024 will see the end of the 'no-coiner' crypto sceptics

Nothing has been more damaging to the adoption of cryptocurrencies than the “no-coiners” — deniers who refuse to buy into the system and prophesied that the industry is doomed to failure.

Fortunately, these "sceptics" appear to be a dying breed and the doubters are becoming less doubtful.

Two years ago, an article published in Vice magazine outlined how a "no-coiner" was a derogatory term in the crypto world, used to describe anyone who derides the ecosystem by saying things like: "it's a bubble about to burst," "it's not real money," or is "a wildly anarchic unregulated form of Wild West financial capitalism" — something that will fail sooner or later.

While "anticoiners" may have been a more appropriate moniker, what is clear is that despite all of the scepticism, it didn’t impact adoption trends.

On the contrary, in 2023, cryptocurrency users grew by 34%, from 432 to 580 million worldwide.

Meanwhile, as more and more governments around the world begin to acknowledge cryptocurrency as "real" money, the pessimistic predictions of no-coiners are looking less and less credible. 

Last year alone, more than 40 countries began discussing how to introduce legal frameworks to accommodate digital currencies.

With this in mind, the narrative of those who refuse to imagine a future in which cryptocurrencies will be integral to the financial system now seems forced, self-serving, and even fanatical.

But at any rate, we are only talking about a vocal minority.

Curiously in 2024, the term "no-coiner" no longer seems to be synonymous with rejection but is now associated with potential users. 

Rather than distrusting cryptocurrencies outright as a technology, the new non-coiners are people who appear to have not yet found a specific use for