Thread by @dkcrypto13

The thing with #crypto and #bitcoin is that right now practically everything that’s out there is built on the same “usecase” - speculation, casino and pyramid schemes (#Defi). So that is exceptionally vulnerable to Fed moves. However, there are now so many smart & motivated...

... people working in #crypto & on making the #blockchain a useful tool in our lives that betting against that innovation is now pretty poor risk reward. There are thousands of usecases that may or may not require a token, but they will be built:

- identity on chain makes identity theft impossible & where would you store it if not on the most decentralized one (ie $BTC)
- voting will be done on chain, instant results no fraud
- clearinghouses will disappear as the #blockchain replaces settlement (albeit a centralized one)

- #NFTs will mature from cryptokitties to disintermediate industries like art and real estate or simply providing a land registry for the first time in some countries
- rare items and even things like sneakers will be provably original via an on chain mechanism

- Depending on the path of the US there is no reason global commodities like oil would not be actually priced in #bitcoin at some point as a non-govt reserve asset
- Smartcontracts will replace simple contracts like life insurance and #oracles will be needed for independent data

- future equity will be represented as token
- deepfaked videos will be proven as fakes via the chain

So again - today it is 85% speculation and pyramid schemes, but all of the above is coming and is being worked on. It will be amazing to have been a part of this I think.

To be clear: I still expect the market to be 98% dependent on Fed action for years here and I cannot say what kind of value the above should yield “fundamentally” for $BTC & #crypto. But using a decentralized, secure database will have a value and a price. Not advice as always.