My thoughts on crypto

I have studied crypto for the last few weeks. Here are my initial impressions. Air drops are silly and a feeble attempt at marketing. NFT’s are a mostly a get rich quick scam. Go for it if you feel lucky. Please don’t bet the farm.

The coins that have the best future are the ones with a limited supply, otherwise you have the same problem as fiat currencies, where you literally dillute the supply and value away. I am not against blockchain technology, as it is the future, but the wild price gyration is bizarre. I know that many coins are still in their research stage and frankly they should not be on the market yet. There is widespread price manipulation on most coins.

Seems like L1 coins have the best chance of succeeding.

Moving forward, I believe most coins will go broke. Nothing wrong with speculation, but without some sort of due diligence it is ultimately detrimental to the individual buyer and crypto industry. One could argue many stocks on the NYSE and Nasdaq are gambling and they would have a good case.

I am still interested in blockchain, but the more I study it, the more I realize it is still early. Purpose driven technology and real world adoption will eventually separate the winners from the losers.

Any thoughts?