Comment by ericjang
4 years ago
I agree with your point that the operative word here is "earn", and not "play".
To play the devil's advocate: many crypto developers continue to build in the space (or have done it in the past) despite large drawdowns in token prices (denominated in USD). Would that constitute a sufficient signal that "there is something real there", distinct from the question of "is the valuation too high"?
I'd say no.
This might just as well be an "emperor's new clothes" situation, in which a significant number of people are either deluded in thinking there is something of value or heavily invested in making others believe so. Neither of which means there is actually anything "real" there.
Shared delusions are a thing.
Nah, it's just that the target audience ("investors") won't care about the few bucks.