“Unencumbered by regulation, reticence to destroy legacy assets, or boomer brains that just don’t ‘get it,’ crypto is a $2-trillion disruptive force. I can validate that anybody over 50 has trouble understanding this stuff, and am fairly certain that the number of candles on the CEO’s office party birthday cake is inversely correlated to their understanding of crypto.”
I am over 50, but surprisingly managed to write a go-to post for investors on crypto—“Should you invest in cryptocurrency?” And I continue to receive some wonderful feedback from that post. Most importantly, the post helped readers “get it.”
I’ll admit that I don’t yet “get” the other crypto stuff. In fact, I’m starting to feel like an old guy who only invests in bitcoin, and not Ethereum, Dogecoin or Polkadot.
How times have changed. Galloway adds…
“Crypto is firing on the walls of the world’s financial citadels. Naturally, the generation of leaders behind those walls is not inclined to acknowledge the Wildlings outside. But scoffing at novel technology, be it a mangonel, black powder, or blockchain, rarely ends well for the legacy asset holders. Bigger castles are already being erected on the hill just above the naysayers…in this case, in mere years vs. generations. It’s likely that on the day of its imminent public listing, Coinbase will be more valuable than Goldman Sachs.”
Things have value because enough people desire that “thing.” It can be purely subjective at times. And who is to say when and where folks are wrong in the things that they desire?
And the same can go for digital art. Non-fungible tokens, or NFTs, are all the rage these days. They might be digital, and that throws many for a loop; but they are also scarce. For each NFT, there will only be one or limited quantities available.