Crypto, crypto everywhere

Seems everywhere I check there is a crypto headline and my inbox is flooded with funds raising for this industry. Returns beat anything by miles and so arguably fit in a diversified portfolio. However, for me it still doesn’t pass the fundamentals test. A lot of existing tech seems to be better than blockchain in majority of cases (hear a lot about corporate pilot programs that never seem to go anywhere). On pure BTC side, I often find the community to be quite cultish, seriously lacking in a real understanding of economics, and riddled with circular logic (just a quick visit to r/cryptocurrency and r/bitcoin reveals this, but I’m now finding it in the IBs and on a recent call with FiDo).

At best, I see this as hyper VC. At worst, extreme speculation that will eventually (if it already hasn’t) become systemic. Regulators have been way too slow to shut some of the obvious scams down and blatant flaunting of rules everyone else has to follow. I’m now convinced it’s too late / politically impossible to reign it in.

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The values of cryptos in general is driven almost entirely by pure speculation and is thriving because the SEC is not doing their job. If the SEC gets serious and enforce rules like any other financial asset, I would expect a significant decrease in scam coins and the value of cryptos in general to drop (hence why people enthusiastic about cryptos are vocal against any SEC regulation)
Until SEC steps in, we’ll likely continue to see social media influencers promoting scam coins to their gullible followers (and getting a hefty profit in the process).

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RED ALERT: BOOMER THREAD DETECTED. POSTER(S) MAY SUFFER FROM FOMO AS I STACK MY BREAD TO THE MOON!

■■■■ you forum. Is that a complete sentence