I'm only trading ZAR and crypto in the Investor Challenge. I came in a little late which was probably a good thing but let's see how things go... I figure I could either end up winning with massive returns, or completely blowing out at -50% or something similar.
I would be interested in people's comments on crypto in the meantime. We have some crypto millionaires in Hogsback who don't have to ever work or save for the rest of their lives. They are in the late 20's - it's sickening!
Do you think that BTC or other cryptos have a future, either as a store of value or as a currency? Personally I'm interested in a seed-backed crypto and would welcome any thoughts on this i.e. where farmers become the miners and earn crypto in exchange for their crop, paid in advance. In many places around the world this is being termed Community Supported Agriculture, and is helping break down massive centralised farms, logistics chains and major retailers selling chemically-preserved and outdated crap in plastic containers.
BTC is only now making a 50% correction and could possibly be building a support base here. Insto's are coming up with new financial instruments to support their HNW clientele, as they structure long/short plays in this new asset class. Could we be seeing some legitimacy entering this space? I don't believe that any of the major cryptos at the moment will emerge as a great store of value, or transactional tool in the next 5-10 years. However, there probably will emerge a killer app that will leverage the blockchain and provide some utilitarian value. Any ideas as to what that could be? I'm all ears....
