Make note of the above screengrab from Coinbase. If you believe a cryptocurrency creator can be a responsible asset allocator, the world will devolve into hell and a handbasket. That is like leaving the arbitrage of human expansion up to the religious beliefs of a pastor.
We create history with our observation, and not history to create us.
Stephen Hawking (1942-2018), Theoretical Physicist
Indeed, cryptocurrencies are the belief in value when nothing substantiates that value. In the same way, many people in the world believe in 4,200 religions making extraordinary claims, all lacking extraordinary evidence to validate such claims.
Cryptocurrencies are the new religions of humanity, capturing the interest of greater-fools who do not understand that manmade appraisals of value are meaningless unless nature agrees. In the same way, the value of a dollar is worthless, if not a net-negative, if that dollar does not improve human adaptability to nature’s entropy.
Humanity improves not through merit we assign to ourselves but by the merit nature assigns to us.
