There's no /real/ value being created

• Store of value? We already have that. It isn't a compelling enough reason for people to switch from cash because shit's volatile. Imagine having money to buy 5 tomatos in the morning then 0.358 in two hours, lmfao. Bitcoin can't even do it's own job well HAHA.
• You know that a certain piece of technology has value when it has utility upfront. Bitcoin's utility is non-existent, and is highly dependent on the future. It's always a promise of future utility. Mass adoption, value up. Adoption dies, value down.
• You want to see REAL value? Case in point: Artificial intelligence has made more significant progress in 3 months than crypto and web 3.0 has ever made in 10 years. That's how you know there's nothing being created.
• Right now: Tesla's Market Cap is $604B, Bitcoin's Market Cap is $525B.
  • Quick back of the envelope math: Has Bitcoin produced value equivalent to the millions of cars that Tesla has sold?
    • Hint: Not at all
  • Quick back of the envelope math #2: Is Bitcoin tech as hard to replicate as Tesla tech?
    • Hint: One of the two can easily be forked.

Worst asset class

• Your 'safe' and 'diversified' asset class pumped the past few days only due to a tweet thread betting that Bitcoin will pump to $1M in 90 days. How can you say 'most diversified', 'safest', and 'least risky' asset with a straight face.
  • Let me make this simpler for you so that you can understand: Bitcoin's real value is made from marketing and not it's tech / product!
    • Value = Marketing
  • This is different from other asset classes wherein:
    • Enterprise Value = Equity Value + Debt - Cash

Most Crypto + Web3.0 founders are clueless and non-technical. Additionally, the reward mechanism for these founders is flawed.

• Only reason why Bitcoin is valued so damn well is because no one knows who Satoshi is.
• This is the only place in the world where founders are being paid first before creating a good product. You will never see this shit anywhere else. Startup founders for example, CREATE PRODUCTS FIRST and are only rewarded AFTER going public when they've reached product market fit and millions of users are using their product. Crypto is different, founders are rewarded first. This leads to founders not having motivation to develop products which lead to product market fit. So, when shit hits the fan they can simply sell.

No value is being created and is only propped up by fraud, leverage, and other sketchy activities

• The best and worst feature of Bitcoin and other cryptocurrencies is that it isn't regulated.
  • Stablecoins: What does Tether and other stablecoins do with your money? And how the fuck are they able to retain its value to $1?
    • When you put money in the bank, they retain your money's value by investing this. Even the best fund managers return a loss! How are stablecoins ALWAYS POSITIVE with billions of dollars under management? Plus, where do you find enough assets to invest in to return a stable amount?
    • Bro common sense lang, there's no fucking way they earned an interest even with the FTX crash, Luna crash, and all the crypto shitstorm the past few months.
• You think the FTX drama's over? Those guys had counterparties and even up to now, we have no idea who those guys are.
  • Again, let me simplify this for you: A good chunk of value of crypto assets right now are gunk. Made out of thin air because they already died with FTX. We just don't know which ones those are.
• Won't even go into these other issues, just do your hw:
  • USDC
  • Leverage and how it affects prices
  • Sketchy activities

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To the people reading this thread: Only get orange pilled if the person you're talking to ACTUALLY knows what they're talking about. It is likely the case that they've never written a single code in their entire life or do not understand finance + economics deep enough to make a stand.