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re: Crypto hedge fund Three Arrows Capital (3AC) now in liquidation
Posted on 6/30/22 at 7:23 am to slackster
Posted on 6/30/22 at 7:23 am to slackster
Crypto just became the latest tulip, it's just that they created 10,000 types of tulips within 18 months.
All the bubble asset classes typically live on (I mean we still have housing post-2009) in some form or fashion, just devalued.
I still think the big dogs have long-term investment value even though, imho, it destroys their intrinsic value. The problem with crypto is that unlike other bubble asset classes, you could literally create one out of thin air to pump and dump. It was never that easy and, as we all know, when making cheap money is easy, humans cannot help themselves.
All the bubble asset classes typically live on (I mean we still have housing post-2009) in some form or fashion, just devalued.
I still think the big dogs have long-term investment value even though, imho, it destroys their intrinsic value. The problem with crypto is that unlike other bubble asset classes, you could literally create one out of thin air to pump and dump. It was never that easy and, as we all know, when making cheap money is easy, humans cannot help themselves.
Posted on 6/30/22 at 7:59 am to SlowFlowPro
quote:
The problem with crypto is that unlike other bubble asset classes, you could literally create one out of thin air to pump and dump.
Oh. Let me know when you can generate over 110 Terawatt hours of hash and create the next BTC2.0. I'll buy some.
Keep us posted.
You would think people on the money board could separate actual use case projects from trash, but after 10 years I think people are still looking for "going to zero bruh!"
Posted on 6/30/22 at 10:18 am to SlowFlowPro
quote:
Crypto just became the latest tulip, it's just that they created 10,000 types of tulips within 18 months.
I have been diving as much as I can into crypto over the last few weeks given its downturn and potential good buying opportunities.
I have gone from “crypto is nothing but digital strings of code operating on the greater fool theory” to “the technology has value, there will be more growth and adoption in the years to come, and the growth potential (albeit volatile and more risky than say a 401k target fund) is worth allocating 1-3% of your investment portfolio to.”
The companies and people getting rekt are suffering because of their stupidity, not the lack of value in crypto.
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