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Cryptocurrency is now to the point where Wall Street is noticing that it is a thing people are willing to assign a value to, despite it generally not having any
by egypturnash 9y ago
Cryptocurrency is now to the point where Wall Street is noticing that it is a thing people are willing to assign a value to, despite it generally not having any obvious inherent value.
Be careful: Wall Street is really good at extracting this value, and leaving everyone else involved with empty pockets.
How can a cryptocurrency defend against this? Should it? Should it embrace this instead, in hopes of riding these cycles long enough to look like a legitimate Store Of Value? Which one would be better for the theoretical long-term goal of replacing existing currencies with cryptocurrency?
(Not that I am saying every ICO is floated by angels with only the most perfect selfless interest in cryptocurrency; decide for yourself what percentage of the people doing this are running a scam.)