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Originally Posted by karl262
A pyramid scheme where one doesn't recruit...ok...I'll leave you to think about that one.
This article from Deloitte Inside Magazine is almost 4 years old now and it gives a good overview of asset tokenization on the blockchain including the disruption to traditional finance it will likely cause.
How many intermediaries do you have to go through to buy stocks or other assets, and what are the costs associated? Same with selling stocks but with the added inconvenience of waiting from the time you sell and initiate a wire transfer until the cash is liquid in your bank account. Then there's also apparently the moral dilemma of being involved in the new kind of no-recruiting pyramid where you sell something to a new buyer and make money.
I'd like to buy your car you have for sale and I'll be paying you with barrels of WCS oil. Laughable right? Asset tokenization and smart contracts will make my offer realistic, immediately executable and acceptable.
https://drive.google.com/file/d/1YEu...w?usp=drivesdk |
You are conflating two things, which is the basic problem of crypto at the moment, judging any crypto as a currency is a wholly different proposition than judging it as an investment, the US dollar is a great currency but no one would see it as an investment, it's value in the long term only fluctuates with inflation, as such it neither makes nor loses value as it is 'value' its the measure of 'value' and no more, crypto may well be a great currency but as an investment its 'returns' are made from more buyers buying more crypto, crypto doesnt generate any returns of its own, no currency does.
Again there may be a great future for blockchain and or crypto in all kinds of areas (although I suspect in the vast majority of potential applications a far simpler cheaper non blockchain solutions will steal the trade once the trade is established) but that doesnt make any particular crypto a good investment any more than the dollar being a good currency doesnt make Ford a good investment, the two things are seperate, they may or may not affect each other's value or returns but they are not connected.
And for the record the worlds largest pyramid schemes have never required recruiting, Madoff, Ponzi were all running pyramid schemes worth in some cases billions and no one involved in investing recruited anyone, they were all sold a good story as to why this scheme was special and the rest of the world wouldnt understand