Trading crypto seems to have over shadowed crypto and blockchain technology. It is very interesting that people are so blinded by price and fraud. Both price and fraud are very emotional. For small minds it is easier to just throw them all in the same bucket and get all emotional about it. That patterns applies to most other things in life too.
Sammy says "Bankman-Fried Warns: Some Crypto Exchanges Already “Secretly Insolvent”"
- Thread starter JackMorgan
- Start date
thats the part i can't understand.
how does investing in crypto equal investing in defi. i get those investing on the venture and angel side. i get those investing in specific projects, but if those projects monetize in some random crypto currency, what's the point. wealth is measured in dollars. Even bitcoin's success is measured in dollars.
Mark Cuban would agree with you about investing in companies adopting the technology instead of in crypto. But two blockchains have arrived at a special place: Bitcoin and Ethereum. Both of these now have a history much like gold and silver, investment grade baseball cards, famous art, ebay, etc. All these things have been adopted as a standard and history shows that it is extremely hard to upset that once it takes hold. Ebay sucks yet they get the vast majority of the auction traffic. It is hard to change that and many have tried without success.
If you fight all the correlations of history on this then you have to explain why it is different this time. It's like the people who argue against owning gold and silver. It just does not work the way they think it does. People will always use gold and silver as a store of wealth regardless of why you may think it is idiotic. It just is. Gold isn't going to zero. Neither is bitcoin. This was not the case 10 years ago. Bitcoin is now in a very different place.
who needs BTC when you can invest in gold like this SOL. The average buyer is still green . all that volume 10X , was just noise, not real hodlers
this is nerd talk. are you a former nerd then
Gold and silver have proven their utility over the years. Precious metals that have some value. BTC/ETH are fabrication of man's technology with MANY flaws. Easily replaceable by the next fabrication (if they wanted why not Doge or the many more "advanced" cryptos) BTC/ETH are not yet truly ingrained but people are trying (*web3*). Right now if BTC went away, only a few whales would be hurt. ETH with its smart contracts may be more painful since a lot more has been built on top of it but still if it went away today, it would not be missed except by the few whales.
Exactly the point many miss when they compare crypto to internet. if internet would disappear after it became household word, the world would come to a screeching halt. If crypto disappears today, apart from HODLers, no one would notice and we would just keeping on going.
Nerd is what the morons call you when you own them
the correct term is pwnt