Trump can smell hustlers since it takes one to know one.
Currently, crypto as played, is very Ponzi-like, loaded with heavily speculative gamblers. It isn't helped by grifters creating new coin types like a firehose. One of my mining companies has turned itself into a crypto company, hoping to grab attention. Digging in the dirt has nothing to do with mining crypto. Dogecoin is another example of greed, with busboys buying crypto, hoping to buy a Lambo. Fuck that and that creepy fucking dog and Elon.
However, the other side is that this is like the early Internet - a new technology with large potential. In the early days of the Internet, no one knew what it would become. Eventually some key companies emerged and made the early investors quite rich.
The cryptos that will succeed are the ones not just with some stupid coin currency but rather, the ones setting up a stake as facilitators of commerce. They are the ones selling eggs to gold miners for $1 each, gold pans for $5, tents and shovels. The right ones will have critical parts of the infrastructure to come, just like Cisco cashed in with routers.
Right now there is nothing tying a coin to a knowable fixed value. So if you are a merchant accepting crypto, the problem is that that Dogecoin you accepted could be worth camel piss, and you will lose money. But the guy running a crypto node and collecting a fee for processing transactions, he is making money, literally, in two ways, creating coins and for a fee replacing a bank transaction. So some parts of crypto are not Ponzi.
He's right and he's wrong.
Trump can smell hustlers since it takes one to know one.
Currently, crypto as played, is very Ponzi-like, loaded with heavily speculative gamblers. It isn't helped by grifters creating new coin types like a firehose. One of my mining companies has turned itself into a crypto company, hoping to grab attention. Digging in the dirt has nothing to do with mining crypto. Dogecoin is another example of greed, with busboys buying crypto, hoping to buy a Lambo. Fuck that and that creepy fucking dog and Elon.
However, the other side is that this is like the early Internet - a new technology with large potential. In the early days of the Internet, no one knew what it would become. Eventually some key companies emerged and made the early investors quite rich.
The cryptos that will succeed are the ones not just with some stupid coin currency but rather, the ones setting up a stake as facilitators of commerce. They are the ones selling eggs to gold miners for $1 each, gold pans for $5, tents and shovels. The right ones will have critical parts of the infrastructure to come, just like Cisco cashed in with routers.
Right now there is nothing tying a coin to a knowable fixed value. So if you are a merchant accepting crypto, the problem is that that Dogecoin you accepted could be worth camel piss, and you will lose money. But the guy running a crypto node and collecting a fee for processing transactions, he is making money, literally, in two ways, creating coins and for a fee replacing a bank transaction. So some parts of crypto are not Ponzi.