<story><title>Why I have zero faith in crypto venture capitalists</title><url>https://bennettftomlin.com/2021/06/12/why-i-have-zero-faith-in-crypto-venture-capitalists/</url></story><parent_chain><item><author>steveBK123</author><text>I find crypto super interesting and have dipped my toes in with some small real money just to force myself to try out different products.&lt;p&gt;That said, so far, almost 10 years in, there really are not a lot of real world use cases.  Sure there are glorified POCs of things that could potentially lead in the direction of real world use cases.&lt;p&gt;But most of these products&amp;#x2F;tokens are just extremely meta.  Tokens you get paid&amp;#x2F;pay for when you trade&amp;#x2F;borrow&amp;#x2F;lend&amp;#x2F;invest&amp;#x2F;stake your other tokens.  Derivative tokens which allow you to get exposure to underlying tokenX on chainY.&lt;p&gt;The transactions are slow, or fast.. cheap or expensive, good luck understanding which in advance.&lt;p&gt;It doesn&amp;#x27;t feel like we are any closer to normal people using it for normal real world transactions&amp;#x2F;finance.&lt;p&gt;Right now it just feels like pump&amp;amp;dump&amp;#x2F;frontrunning&amp;#x2F;private placement games on each new token before it hits mainstream, completely nothing to do with what the alleged business behind that token is supposed to be doing or its prospects of success.  It&amp;#x27;s just a game of getting hold of difficult to acquire tokens before they hit the more normie venues like Binance, Coinbase, etc.</text></item></parent_chain><comment><author>treis</author><text>&amp;gt; there really are not a lot of real world use cases.&lt;p&gt;It&amp;#x27;s effectively just one.  To make illegal transactions.  That&amp;#x27;s a long list of things: drugs, hiding wealth, evading currency controls, extortion, and so on.  Otherwise, existing currency and transfer mechanisms are more or less available and convenient.</text></comment>
<story><title>Why I have zero faith in crypto venture capitalists</title><url>https://bennettftomlin.com/2021/06/12/why-i-have-zero-faith-in-crypto-venture-capitalists/</url></story><parent_chain><item><author>steveBK123</author><text>I find crypto super interesting and have dipped my toes in with some small real money just to force myself to try out different products.&lt;p&gt;That said, so far, almost 10 years in, there really are not a lot of real world use cases.  Sure there are glorified POCs of things that could potentially lead in the direction of real world use cases.&lt;p&gt;But most of these products&amp;#x2F;tokens are just extremely meta.  Tokens you get paid&amp;#x2F;pay for when you trade&amp;#x2F;borrow&amp;#x2F;lend&amp;#x2F;invest&amp;#x2F;stake your other tokens.  Derivative tokens which allow you to get exposure to underlying tokenX on chainY.&lt;p&gt;The transactions are slow, or fast.. cheap or expensive, good luck understanding which in advance.&lt;p&gt;It doesn&amp;#x27;t feel like we are any closer to normal people using it for normal real world transactions&amp;#x2F;finance.&lt;p&gt;Right now it just feels like pump&amp;amp;dump&amp;#x2F;frontrunning&amp;#x2F;private placement games on each new token before it hits mainstream, completely nothing to do with what the alleged business behind that token is supposed to be doing or its prospects of success.  It&amp;#x27;s just a game of getting hold of difficult to acquire tokens before they hit the more normie venues like Binance, Coinbase, etc.</text></item></parent_chain><comment><author>wyck</author><text>This opinion is really common, I used to have it but what changed my mind was realizing there are not really any &amp;quot;real world&amp;quot; use cases. I look at crypto as actual money, with the same definition: &amp;quot;money is a verifiable record that is generally accepted&amp;quot;. Money in of itself does not have any &amp;quot;real world&amp;quot; use cases, money is money. Money facilitates economic velocity and growth in the same way crypto does, except crypto has the potential to be more efficient and secure. One of the key reasons money exists is &amp;quot;currency velocity&amp;quot;, crypto improves upon this a lot. Banks make money with money, they don&amp;#x27;t make money with real use cases. Good crypto projects act like decentralized banks, nothing more.&lt;p&gt;In other words ignore all the bullshit projects and look at the ones who are structured like banks, financial instruments, or risk management. Then the use cases of cypto become very clear.</text></comment>