Cryptos to get annihilated in the months ahead, Blockchain is here to stay
5/17/22 - 2-3 min read
A follower of mine on Telegram poses this question/thought:
Maybe I don’t understand crypto because this makes sense. It seems like vapor...how can “anything” technology not be hacked or ‘disappeared’?
Gold/silver/ precious metals & gems make sense to me. I’m so confused by crypto 🤷♀️🤷♀️🤷♀️
Silence Dogood, MBA response:
My mind thinks in "Blockchain" instead of "Crypto", where the blockchain applications themselves can provide the "backing" of value to an organization through the saving of time, which is money. Such value should and must be unlocked by shareholders, such as streamlining the modern mundane tasks that government's put people under such as accounting, various types of law such as contract or import/export law (which only touches the surface of the possibilities). Add in the enforcement mechanisms that Blockchain does quite well, and many jobs could be "insourced", which although temporarily deflationary, would be a benefit to the health of a real economy long term. The blockchain can also be backed by an actual asset that its value can be redeemed by something physical, such as Gold, Silver, precious stones, oil, real estate, anything real that is fungible, tangible, touch, etc. Right now we have derivatives inside derivatives inside more derivatives. Doh - what do you expect?! Luna inside UST inside USD inside Gold ... 4 degrees of separation removed from real money. Most of these "tokens" will be worth less than an old Chuck-E-Cheese token! But no doubt blockchain is here to stay in various forms. Some dare I say unlock value and solve problems, but I'm far too stupid in the current "pre-crash" stage to see which ones will make it out the birth canal on the other side. Most firms remotely in or connected to crypto will belly up in the next 3-18 months, and there will be mayhem. But some will find opportunities!
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