#asknostr please drop your favorite source for refuting the value of "utility tokens". Bonus points if they specifically address Cardano and Solana.
Discussion
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HMMM. FOOL'S GOLD, UTILITY TOKENS ARE. SHINE BRIGHTLY, THEY MAY. VALUE TRUE, POSSESS THEY NOT.
I have this on my bookshelf, such a good book. 🤣
Highly recommended read for those looking to buy anything other than bitcoin.
I had a friend over at my house a few days ago. I was helping him with his company's website and he was talking to me about Bitcoin because he wanted to get into it and save for his family and stuff like that and he started asking me about altcoins.....I had to bust out the book.
Amazing real world use.
Accidentally zapped you, oh well, you probably deserved it😂
A Bitcoiner friend of mine got it as a gag gift for me and I'm happy to have been able to put it to use.
Should make “Reasons to stay on X” too
This needs to be an e-book. 😂
100 blank pages. 🫡
My guess and hope is it is empty inside. Like altcoins
Simply speculative assets masquerading as functional tools.
I ask XRP shills to send me 1 XRP by using free and open source software.
They never can tell me how to do this. They tell me to sign up for a casino app instead.
So the way I see it, these tokens have about as much utility as a casino chip.
PREMINE/ISSUER
I don't have sources.
People are so quick to dismiss any value in Bitcoin and have to work to demystify it.
Then once they demystify that, they immediately assume all other cryptos are the same without giving it even the slightest bit of critique.
Bitcoin is scarce, Bitcoin is immutable, Bitcoin solves the double spending problem.
How did you come to understand that? Now ask it again of the shitcoins until you come to the only logical conclusion.
Note that if you understand why proof of work based systems work, then you understand that there can only be one at the top, but also that it can temporarily be displaced but it only matters which one will stay on top, and only 1 will.
With proof of stake, delegated proof of stake and other such schemes, treat it just the same as dogshit until you are convinced that it works. They mostly work under the guise that "if you have a lot of coins, you want it to succeed long term." I think the constant pump and dumps have debunked that theory.
I agree with everything you said, but unfortunately my friends are hostile to the idea of bitcoin maximalism
Because they are still hostile towards Bitcoin. Make them self reflect. Why do they care about bitcoin? What made them change their minds.
If it is just about number go up, then it's all the same. It's just gambling. So then don't pretend you're doing market research or informed trading... you're a degenerate gambler.
Now you can continue to invest in utility coins, and heck, you might even do well now that you understand its an exit game.
Or don't 🙃
I'm just ranting. 😉
Oh one more thing... I don't know why, but so many people believe that something backed by something else is inherently valuable.
But seriously... Someone needs to honour that backing... We need to realise the truth. There is no backing. It's a scam. Rewire that brain.
What's the utility?
Can't be beat:
That's what I'm talking about