I agree with you on the beginner's luck and also a misunderstanding of money, retail gets access to pretty shocking financial products, so crypto looks like a good bet for them but when you run the math like on these staking platforms you are still losing money over time, short of your timing being perfect, most will lose money
In crypto, I would say Bitcoin would be my primary holding and I'd much rather own equity in an exchange than own any of these coins. Exchanges are going to make money in bull or bear markets so if you want to have exposure all the shitcoining I think that's a better option.
It's a hail mary and I don't blame people for feeling they need a moon shot and buying into the hopium but this will end in tears as has many a frenzy
I checked out this video I doubt it will age well, this guy's arguments aren't based on anything, he says the supply can be changed, short of 100 000 plus people willing to all dilute their own stake, that's not going to happen.
He says it can be hacked, it's literally the most powerful computing network in the world with zero downtime in existence
Just another YouTube salesmen shitting on Bitcoin so you can buy his product/service
Personally, I think stable coins are a joke, what's the point of having tokens "backed" by something that is tied to something that is being debased in record numbers. I see no point in using it short of getting around SWIFT and regulations and being able to get hold of forex and I have no need for that, others might but not me.
Believe me I get where you coming from seeing Bitcoin and crypto as the same thing, and I'm not here to argue with you about it, I see it differently, I've spent time looking into all of these things and Bitcoin isn't for everyone and that's fine. There's a lot of shady shit in crypto, in fact I am waiting for USDT to implode and bring down the entire market, but I still believe in Bitcoin, it's the only one worth holding in my opinion.
Everyone is going to make their bets somewhere, be it cash, stocks, real estate and no ones going to come out unscathered
I understand where you coming from but what you’re talking about is a financial system thay onto 13% of the world get to enjoy.
For someone like me in south Africa BTC as “volitile” as it is now is still a better form of currency than my national currency and I am not the expection! G7 countries financial systems are NOT the norm for everyone
BTC for me works great in storing value that cannot be seized, it scales perfect well on lightning, charge backs can’t be done on ANY blockchain because charge backs are only available for assets where final settlement isn’t available
Sure handling your own money comes with it’s downsides but I feel it’s a worthwhile trade off not to be tethered to various local institutions
If tomorrow s&p downgrade my countries debt I’m fucked through no fault of mu own so having this asset offers me a lot of benefits
So what crypto in your opinion can/is doing it better and what governance model is superior to proof of work and why? Keen to see where you coming from with this?
LOL so you're banking on Charles Hoskinson, this was basically just an ad for buy cardano. How is Bitcoin slow when you have lightning that's instant? He actually mentions blockstream who has launched Liquid where you can do DEFI on and then there's also statechains and since they all connect to the base layer they are all soon to be interoperable with one another.
I find it hilarious he claims L2 is centralised, yes in certain points but how many people are running a ADA node how many are even running an ETH node? Lol all these projects are centralised and continue to get centralised as the bloat on chain continues to increase with all the computational space needed to run there shit coin assets
I think the mistake people make is believing these sales men in making this a purely technology play when its more than that, Bitcoin is the only system that protects its monetary system for all users, the rest will tweak it trying to sucker more people into their ecosystem
You're a money guy but I am a tech guy and I know his talking shit, its almost laughable the claims he makes if it wasn't so sad that people invest based on guys like this word