Just another day in the land of Tulips errr Tokens. SQUID coin was up 40,000% this weekend to $2800 a coin. Whelp, today the developers exited stage left with their millions and the coin is now $0.01.
Remember, these things have no fundamental value and are just a computer program. I hope none of my Crypto-hot UBER drivers this past week bought this one.
Thank you to the UCI Young Alumni Association for having me back to talk about Cryptocurrencies! It was fun discussing how I think they (and Defi) fit into the financial system.
The main takeaways are: 1) I can people thinking about Bitcoin as Gold. (But how many people own gold?) 2) I think 99% of currencies will be worthless and 3) I’m not sure what problems Defi is trying to solve.
In the short-term, who knows what will happen. I’d imagine that, since Bitcoin and Ethereum have been acting like stocks, that they will continue to go up into the best time of the year for the stock market.
You can see my slide deck here: LINK TO SLIDES
