"Crypto is a ponzi, it all goes to zero"
Yes, we know. That's how it is with most crypto
But that doesn't mean you can't capture the initial hype and the initial 10-100x parabolic run
Just be cautious, be smart. And most importantly, don't get caught holding the bags when the music stops
Be strategic...
...Because everything goes to zero, for the most part
@assasin_eth The chart is just one part of it. Everyone in the network needs to work and be rewarded for doing so. So requires a consensus model. On Chonkler this is called 'Proof-of-Meme'. Basically if you don't create and/or share memes, you don't get coins.
https://t.co/ctJCyXRyFS
@RektOnArrival Hold and believe = "I hope someone else pumps the bags. I hope someone else does all the work. I hope someone else makes all the memes. I hope someone else shills the network."
a medium of exchange is not the defining characteristic of money
money is not what you transact in but what you think in
random thought that I just got after looking up money in the dictionary
the way you learn about money is through the barter problem (which is incorrect btw)
that is, I have potatoes and you have corn, and if I want corn and you want potatoes, then we trade
but if I don't want corn and you don't want potatoes, then we can't trade. therefore, we designate a medium of exchange and then use that for all other assets as well
the coincidence of double wants problem solved!
but now imagine you have tokenized all assets onchain and you have a colossal AMM that has all pairs
i.e corn/wheat, wheat/potatoes, potatoes/oil, oil/steel
ok now you have also solved the coincidence of double wants, you can trade any asset for any other asset
but there's still a problem, you can't make denominate rates consistently and thus you can't coordinate the economy
also, any asset that is not seasonal will not lose value with time and thus will get a monetary premium (hence gold) which will skew the price signal
therefore, the main functions must be i) unit of account, ii) store of value with iii) medium of exchange being a secondary function, in that order
or more succinctly, money is not the thing you transact in but the thing you think in
source: I made it up