I don't know what you consider "long term", but if you asked anyone who stored their wealth in a cold wallet before 2020 they would be at worst, a couple % up right now. The vast majority would likely be up at least 100%.

These completely mindless dunks on crypto on HN are getting out of hand. You can say it's not scalable, or that it doesn't have a future for A, B, C reasons, or any other number of valid complaints. But instead they've devolved to the most degenerate falsehoods that can be disproven with a single look at the long term chart.