I’ve been a buy and hold 3 fund indexer for 10 years. I became intrigued by cryptocurrencies recently after doing some research and made a small investment (about .5% of portfolio). I realize that the idea may fall flat on its face as there are issues with scale and governments are certainly going to intervene at some point. But the idea is compelling and has a chance of being revolutionary. What would people think of the internet, personal computers, index funds in the 60s? We have exposure to most industries through our index funds but little to digital currencies. I did some research and am using coinbase and a vault within coinbase for extra protection. I am fully ready for bitcoin and etherium to go to 0, but I believe there is a chance that we are seeing the internet of the finance world being born.
There is a small chance there is some revolutionary technological aspect to it for sure. However, it is highly unlikely to be within any of the currently proposed use cases that have the most support. Almost every single one of the ideas they float about has more friction, is slower and more costly than the current way.
Whats hilarious is it now branching out into financialization of everything, and people that are apparently totally ignorant of I guess that markets exist and how they work getting all excited at the "tokenization" of everything where one can participate, trade, invest in anything using tokens. Yes! Great idea, so great they invented that hundreds of years ago, its called the market and equity, etc...
Like any early market, it will be rife with mostly fraud, and the base case of best utilization is not likely even appreciated right now.
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