Bitcoin / Cryptocurrency Discussion (And Predictions)

[Kevin88660]

How is it a superior technology for "people who code and create" to get better rewards for their efforts?



I'm glad you went down the rabbit hole. I'm sure you've learned a ton.



How? Where are these opportunities you speak of?

I'm only critical because I've been down that road. I also thought it was a "marvelous" new type of computer. I envisioned all of the creative ways smart contracts could be used.

So far, the best use of smart-contracts I've found are AMM (automated market makers). It's a genius way for people to exchange one digital asset for another without an intermediary.

Ultimately, I didn't find "all the opportunities" you speak of. I mostly found scammers, degenerates, and losers masquerading around fancy words to suck people out of their hard earned money.

Even for large networks like ETH which I still use and find valuable, I learned that with ZK cryptography you could essentially nest multiple layers down until the cost of a transactions reaches ~0 while preserving maximal levels of security, though you would sacrifice liveliness across other applications.

Meaning the business model of selling block-space on smart-contract platforms is a race to the bottom.

What about BTC and a store of value? I think it has merit. Which is why I have some for that purpose. But as I've outlined before, it isn't without flaw. For all the flack Peter Schiff gets, I think he's actually right that Gold might be a better store of value.

So where's the value? Because there clearly is some value somewhere.

The real value is in the network.
The real value is in the shared belief system among participants.
The real value is memetic.

The rest of the "global computer" and "decentralization" and all the other buzzwords is baloney for the rookies, and gospel for the zealots who get high from their own supply.

I treat it like a casino because it's largely a casino. Arguably the best invention so far with crypto has been stablecoins, which according to some is a CIA invention which allows it and other three-letter agencies to print money to fund their black ops off the books.

Maybe I went too deep down the rabbit hole. Because what I found was mostly rabbit poop.

I hope you learn more than me and prove me wrong.

There is a lack of viable and sustainable business model in the space, with the exception of exchanges (casinos).

Unlike an ordinary business which sells a product or service and can sustain itself.

Most projects are just softwares that are perpetually free to use, requires vc funding, with a hope that traction bringing the value of tokens higher and profit from there.

This leaves late adopters to be bag holders.

The projects also legally cannot pay “dividends” and that would be security laws violation. SEC now even considers burning tokens by a centralized entity like Binance to be security laws violation.

So this leaves fat protocol theory to work out its way. Most projects fail while ETH and SOL prosper.

There is a reason why memecoins are strong this cycle. Because memecoins are lean, you do not need a team of research staffs, customer service running perpetually free to use software.

If the only way that passive investors fan profit is from token value appreciation then there is no fundamental difference between investing in team doing hard scaling solution or investing in a memcoin started by a bunch of 20 years old making noise in twitter and discord.

 

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[AceVentures]

There is a reason why memecoins are strong this cycle. Because memecoins are lean, you do not need a team of research staffs, customer service running perpetually free to use software.

In a way, memecoins are the purest form of the crypto network-effect phenomenon.

They're honest that their goal is memetic, that the value exists solely within a shared belief in value.

The "utility" coins are arguably the most dishonest - they mask the real memetic intention behind a lie, that the value is in the "decentralized wifi" or whatever else they would have an uneducated person believe somehow generates an income.

I mean, look at this abomination of a coin below. But it's hilarious. And there's no lie about it. Nobody is fooling you into thinking it's an investment. It's a gamble, a bet, on the idea that other people will also find this thing funny and want to bet on it.

I much prefer this type of gambling over the boring L1 bets about whether solana or ethereum or cardano is a better smart contract platform oh but what about the fees and oh what about the UX and blah blah get out of my face with that shit.

 

[ZF Lee]

Well Fastlane is all about finding needs

You don’t find needs sitting at home doing nothing

You get some hobbies, talk to people, have a job and something annoys you and congrats you found your need

So it actually makes sense to muck around with crypto, treat it like a hobby

You’ll be doing something and you’ll stumble upon a need

Something missing, something annoying

The space is new so there’s a million things that haven’t been fixed or thought of yet

And it’s huge so there’s room to scale

Researching and buying a shit coin might not be a Fastlane strategy but you may discover a need in the process of mucking around with them

Absolutely.

I'll just list some openings I see:

Since I'm still in the copywriting line, crypto is one of those fields where you need a faster turnover of finance-related copy. I'm talking short-form content like emails, TikTok scripts and even Telegram posts. You won't always need a bazillion-word advertorial like Agora usually does (although I still get them...which means they still work?)

Off the top of my head...you'll always need marketing mats for the next crypto project...or even to teach courses on trading/coding blockchain lol.

Now, there's a lot of hate on this Forum against courses. And some gurus say courses have a much lower entry barrier now, since you have courses teaching folks how to make courses now.

But I have seen a lot of value in courses with a STRONG community of A-list students who take the stuff they learnt, and go pioneer some crazy new method. And the guru turns it into new paid calls, learning materials, books or a coaching inner circle. The education industry does realise it needs to create lasting results, and does evolve.

To build this strong community, the guru needs to have hard-and-fast rules that work, contrary to the 'garbage' other rivals might teach. And these rules unite folks against the 'rest of the world'. It's not too different from MJ and TMF vs the SCRIPT.

There are physical opportunities for crypto too.

Saw this in the local news recently:

How This Singaporean Turned Melaka Ghost Mall Into RM2.5 Million Crypto Farm | TRP

The mining farm is located in an empty mall in Melaka

www.therakyatpost.com

Taking advantage of crypto bans in other countries...using abandoned property...it's good ol' Fastlane resourcefulness. Imagine all the business that could come from renting our space to crypto farms...equipping them...maintenance....lots.

 

[Mr. Tycoon]

Every corporation on the planet would have to hold Bitcoin to survive in the future. Those that do not would disappear within 10 years maximum.

BTC only

 

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[Mr. Tycoon]

Chapter 2:

You never have enough BTC.

The only purpose in owning a company is to accumulate more BTC.

BTC= F*ck You Money !!

To be continued..

 

[Antifragile]

Roaring Kitty’s portfolio is now worth $850 million from his initial investment of $53,000. It’s going to be nuts if this guy actually meme stock’s his way to a billion dollars.

Memes > BTC and all of crypto? Lol




Meanwhile …

 

[Timmy C]

 

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[Mr. Tycoon]

I’ve heard that

Bitcoin

is

crashing.

Again.


Also, Bitcoin is an IQ test.

 

[Kevin88660]

View attachment 56305

Roaring Kitty’s portfolio is now worth $850 million from his initial investment of $53,000. It’s going to be nuts if this guy actually meme stock’s his way to a billion dollars.

Memes > BTC and all of crypto? Lol

View attachment 56306


Meanwhile …

View attachment 56307

On a side note, Roaring Kitty is pretty handsome. I guess that adds points for him to gain influence.

In the movie "dumb money" I don't know why they found someone way uglier than him to play him. It is usually they get the handsome actor playing a real-life role who is average looking.