bitcoin?
what are people’s thoughts on bitcoin and alt coins? Where is it going near term and long term? I’m a skeptic, but would love to be convinced otherwise
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Alvarez & Marsal NewAnalyst Feb 7, 2020
Too risky in my opinion. These things people who get in early profit and people who are late don’t
Barclays PLC PFAdjCash Feb 7, 2020
Blockchain in some form - probably a form that has yet to be invented - will be huge and enable stuff like trust less networks. However, bitcoin and alt coins as they currently exist are simply rife with speculation and get-rich-quick scams, frankly. It’s a shame because it distracts from the real potential. There seems to be a giant rift in the community between working against the system and trying to improve the system.
Be sure to read this paper on how to think about valuation: https://s3.eu-west-2.amazonaws.com/john-pfeffer/An+Investor's+Take+on+Cryptoassets+v6.pdf If you eliminate your Bayesian prior and have an open mind, there is a positive skew in the payoff.