Champ Bailey said:
AggiEE said:
administrative errors said:
So incentivizing mining via fees, coding development and innovation, ecosystem developmentand innovation, and enabling global censorship resistant commerce without "trusted" third parties or oversight or permission from anyone is speculating.
I guess.
Mining is largely a waste of energy and chip resources. I also never said Blockchain didn't have value or wasn't innovative. But just because there's a technology doesn't mean there's an underlying business embedded into Coins themselves. And I'm sure there are or will be companies in the DeFi space that do go on to become legitimate businesses through innovating in blockchain. But it will because there is a business case that can minimize transaction fees and provide more transparency, not because people are speculating on "assets' with no real utility like most coins.
The bull case for Coinbase certainly would argue more of the latter, but obviously it's very early days.
I mean, there literally is an underlying business to block chain. It's called crypto currency mining. And there are already cryptos that perform the functions you mention. You just don't like it, and you don't seem to really understand it.
There are also businesses that harvest tulips or make beanie babies, I'm not particularly interested with investing directly into them. The vast majority of crypto coins are just pump and dump, greater fool plays - i.e., pure speculation.
Some companies in this space will be winners, it may not be obvious who until retrospect. I will own those businesses through the funds I invest them, which will represent a small portion of my allocation. The vast majority of the 'crypto plays' will be completely worthless like many of the tech stocks in the early 00s.
It's not that I don't like them. I also don't invest in gold, NFTs, or commodities because I don't agree with the long-term investment thesis. I'm not shaming anyone for disagreeing with me, just offering my perspective which is mirrored by some of the greatest investors of our time.