This is from today's epic thread with Mark Cuban and John Reed Stark. I've highlighted in bold the words that crypto advocates and investors would do well to follow.
I only invest in companies that have utility and can do things that can't happen, or can't happen as well without crypto. One specific value that is unique to certain blockchains are smart contracts. Smart contracts enable unique applications. I'll give you an example. http://Book.io did a deal to sell my book as an NFT. What makes this a better option is that the smart contracts can track and immediately pay royalties on sales in the secondary markets. That can't happen with physical or traditional digital books. I can quickly and easily purchase carbon credits as offsets and using Blockchain burn them and remove them from circulation. Possible offline but the Blockchain publicly reflects the action.
I can purchase weather insurance that uses a data feed and a public smart contract to immediately pay me (or not) based on the national weather stream. No risk of the claim not being paid, and it's paid immediately and I can go on.
I look at all the macro claims some people in the industry make as the noise.
There are legits apps in crypto. What is missing is the ubiquitous app that makes everyone want to use it. Hopefully that comes.
Now compare that to penny stocks. Talk about scams and rug pulls. Here are some documented in a site I support http://sharesleuth.com. There are thousands of companies that have minimal documentation at best, are scams at worst.
I'm investing in the utility and upside of these crypto projects (not the tokens) over anything on the pink sheets. But again. Why doesn't the SEC offer the minimal registration available to pink sheets to tokens?
