A truly sardonic video.
Ill get back to this later ..
I agree with you, mother BTC is the ultimate fallback in this market.
Problem is (like you stated) too many believe the HYPE...the SHILL.
And you see it constantly..now especially on ICOS.
(Notice PRIVACY & unrealistic technologies are big on ICOS)
TRX reminds me of YHOO,back in the day.
Very Popular...
Very Hyped..
There is an argument to be made about , the trailblazers who were responsible for turning Yahoo into the largest Internet company in the world circa 1998-2003 moreso than GOOGL Or AMZN.
How Jerry Yang and David Filo were walking around like roosters in the DotCom era.
Just like Justin Sun is with TRX.
They made horrendous decisions that eventually ruined their creation..
(and im not talking about buying Googl outright...which they did have the opportunity to....and didn't. but i digress)
Justin Sun is a social media darling.
He knows how to work the system....and i bet TRX will hang around for quite some time because of it.
Just like YHOO did.
(Notice the creation of crypto dogs....just to follow crypto kitties.)
He's a hustler...and i don't knock that.
And Yes i agree that white paper...might as well be called vague paper.
It doesn't give me anything to heavily base an investment on.
(Unlike Wabi or DRGN...who you know what they are actually doing)
But in all honesty...my biggest issue isn't him.
My issue is with the sudden influx of not ready for primetime technology coins being ICOed & pushed in these markets.
For example. TRIG
Blocksafe technology is what they are pushing....though the general idea...isn't that new.
Its website is quite slick but hasn't been updated in a month.
And it lays out its proposed roadmap... and that's what troubles me.
It doesn't even have a working prototype.
Infact it will commence working on a prototype sometime this month.
If this were a stock...noone would buy it.
-No prototype
-Technology isn't a finished product
-This isn't the 1st time ,people have tried to create "smart" guns, S&W researched into it...realized that each firearm would be too costly to produce.
Margins would be too thin,especially since your client wasn't the masses...it was aimed for LEO/Military
-They are banking on government grants down the line to fund it
- No office/factory or HQ as yet.
Now can it succeed in the future...definitely
My point wasnt that though.
My point was...its a concept...basically a incredibly speculative investment.
And your right...this market is chock full of speculative technologies.
And its dangerous when people invest so much money...into something...well that honestly hasn't been created yet.
And i agree with you...BTC is pretty much our one fallback investment in this market.
What im realizing more & more.....yes we are following how the Dotcom bubble era was.
Add the word blockchain...watch it soar!
Back to my sardonic comment...
Keep it salty my friend....and excellent video as always.
In private equity, no one would be given a valuation of $10 billion with no product - not even if it was Bill Gates. Ideas just simply aren't worth that much. But you find that many inexperienced people think that ideas and people are all you need. Even when we look at new entrepreneurs, they often struggle to tell other people their ideas in fear that they will steal it - it's like a signature sign of someone who is new. Ideas have never been worth much, and that's what people are selling here. Sometimes it's nothing more than a pipeline dream that is being sold to the masses. This is what comes of a market which is dominated with people who have zero prior experience investing.
YHOO was functional. Justin Sun and his Tron is an empty shell....all sound and furty - no substance.
You know what that's correct.
The search engine was its main thing....till 2000 when they let Google take over that aspect of their business.
They made horrendous business decisions which affected their stock value longterm.
Though in the media,they portrayed themselves as the smartest guys in the room (MSFT offered to buy them for 44 billion in 2008,they said it was too low an offer....3 years later its market capitalization was 1/2 that)
That was my point...i believe Justin Sun might ruin whatever TRX might become the same way the founders of YHOO ruined what YHOO was at its peak.
And TRX hasn't even gotten that far yet.
From what i surmised from the vague paper...TRX wants to eliminate the middle man.
Trx is at best...an incredibly speculative investment which might revolutionize the world both social & real.
In reality...its just a daytrade.