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@mykos
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2 min read

Well let me give you all a dose of reality. So far for the most part crypto has only proven it can be a money dispenser machine and not an effective currency. The majority of others are unregulated securities. So many issues with this. This only proves the value of a cryptocurrency can go up.

You know what else can go up my gambling jackpot every night at the crap table. That doesn't really create significant economic or social change for the world. So this is why crypto typically just continues to go through a series of boom and burst cycles.

The other part is if you look at crypto it's kinda meeting an apex at about 100 million accounts which is not significant for most networks in big sectors. So crypto doesn't seem to follow metcalfe's law as well as it should. So let's take it from the top has proven to be a horrible currency nobody takes hardly. Goes up and goes down in a series of infamous crashes.

So you all clearly see something i don't or understand something i don't. The use case it solves is how well speculation can occur between opposing parties. The problem is the parties or two guys sitting up here all day trying to steal money from the other doesn't make the world a better place. So for me crypto has managed so far to pull off a magician's trick of smoke and mirrors and alot of propping up by venture capitalist. Something they are good at especially in dangerous economies like this to make their books look good. However crypto hasn't really solved any problem in our financial systems where an economic model doesn't already exist that is better.

For example let's say i'm a vendor who wants to accept crypto. Is accepting crypto going to be more advantageous to me than accepting fiat currency? Absolutely not what happens when my customers wanna do chargebacks? They can't right so that's an inferior system for them in that regard. Most business models aren't a good idea on the blockchain. Yes it's great you can prove you exist or even ownership but who enforces this agreement? lol. The entire thing can just become ridiculous. So obviously i have a different view of this. I can go on infinitum almost about some bigger issues but for the sake of this thread i'll stop.

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