7 ms·

In the stock market you own stock in real companies that make real products like cars, not bitcoin fairydust

majani 4y ago
The average tech share is a non-voting share in a loss making company selling bits on the internet with the promise of a bright future. Barely any difference with crypto
mumbisChungo 4y ago
Regardless of how you feel about bitcoin, there are plenty of revenue generating products and services in the industry, serving both B2B and B2C clientele.
- TomSwirly 4y ago
  Generating revenue how? If you say, "Selling cryptocoins to others", that isn't actually a product or service.
  - mumbisChungo 4y ago
    off the top of my head: Oracle (READ: aggregated/decentralized APIs feed) services and other infrastructure that supports decentralized protocols (network graph, etc.) Decentralized lending, borrowing, trading. SaaS products in on-chain analytics, portfolio management, commerce aggreggation. Gaming Fine Art (a tiny minority of the art scene in crypto is pretty interesting, ex. distributed multiplayer run-time art, something that can't really exist outside of the medium) Digital Collectibles as an end consumer product or in service of the construction of lifestyle brand / gaming / etc startups. (A lot of the most boring use cases land here, imo) Advertising Content creation/consumption
    - lmm 4y ago
      On-chain financial stuff is just more speculation, and the vast majority of the gaming/art/collectible/advertising/content use cases are just stapling crypto onto something where it brings no benefit and often actually makes it worse. There's a tiny sliver of cases where crypto brings real value by enabling something that you couldn't do without it (e.g. cryptokitties was genuinely novel and interesting). But it's just such a vanishingly small proportion of the ecosystem.
    - yashg 4y ago
      >>Decentralized lending, borrowing, trading. When I take a loan from a bank, I may use it for education, a vacation, medical emergency, a car or invest in a business which will generate revenue and employment. What do people do with tokens they borrow in "DeFi"? Given that the tokens can't be used for paying college tuition or a hospital bills or rent or buying a machine?
- UncleEntity 4y ago
  Which has absolutely nothing to do with the topic at hand. Ownership of bitcoins doesn’t give you ownership over these entities the same as ownership over some shares of Apple. It’s like saying that you having dollars in your pocket gives you ownership over the White House.
  - mumbisChungo 4y ago
    The topic at hand, per the comment I responded to, is imagined value. Imagined value was the subject of my comparison. Regarding ownership, however, you can explicitly own things- or parts of things- on the basis of token ownership, but you’re right that this isn’t the way that bitcoin and many other technologies are structured.
legutierr 4y ago
You mean, like Enron? Lehman Brothers?
- mumbisChungo 4y ago
  No, only good examples from equities please. And only bad ones from crypto.

The average tech share is a non-voting share in a loss making company selling bits on the internet with the promise of a bright future. Barely any difference with crypto

mumbisChungo 4y ago

Regardless of how you feel about bitcoin, there are plenty of revenue generating products and services in the industry, serving both B2B and B2C clientele.

TomSwirly 4y ago
Generating revenue how? If you say, "Selling cryptocoins to others", that isn't actually a product or service.
- mumbisChungo 4y ago
  off the top of my head: Oracle (READ: aggregated/decentralized APIs feed) services and other infrastructure that supports decentralized protocols (network graph, etc.) Decentralized lending, borrowing, trading. SaaS products in on-chain analytics, portfolio management, commerce aggreggation. Gaming Fine Art (a tiny minority of the art scene in crypto is pretty interesting, ex. distributed multiplayer run-time art, something that can't really exist outside of the medium) Digital Collectibles as an end consumer product or in service of the construction of lifestyle brand / gaming / etc startups. (A lot of the most boring use cases land here, imo) Advertising Content creation/consumption
  - lmm 4y ago
    On-chain financial stuff is just more speculation, and the vast majority of the gaming/art/collectible/advertising/content use cases are just stapling crypto onto something where it brings no benefit and often actually makes it worse. There's a tiny sliver of cases where crypto brings real value by enabling something that you couldn't do without it (e.g. cryptokitties was genuinely novel and interesting). But it's just such a vanishingly small proportion of the ecosystem.
  - yashg 4y ago
    >>Decentralized lending, borrowing, trading. When I take a loan from a bank, I may use it for education, a vacation, medical emergency, a car or invest in a business which will generate revenue and employment. What do people do with tokens they borrow in "DeFi"? Given that the tokens can't be used for paying college tuition or a hospital bills or rent or buying a machine?
UncleEntity 4y ago
Which has absolutely nothing to do with the topic at hand. Ownership of bitcoins doesn’t give you ownership over these entities the same as ownership over some shares of Apple. It’s like saying that you having dollars in your pocket gives you ownership over the White House.
- mumbisChungo 4y ago
  The topic at hand, per the comment I responded to, is imagined value. Imagined value was the subject of my comparison. Regarding ownership, however, you can explicitly own things- or parts of things- on the basis of token ownership, but you’re right that this isn’t the way that bitcoin and many other technologies are structured.

legutierr 4y ago

You mean, like Enron? Lehman Brothers?

mumbisChungo 4y ago
No, only good examples from equities please. And only bad ones from crypto.