Thread by @mcuban

Crypto succeeds when it's a more productive implementation of it's competition. BTC/Gold are both financial religions. BTC is easy to trade/store/create with no delivery issues. BTC also enables transfer of value locally and globally . Gold is a hassle. Just look at Ft Knox

Eth Smart Contracts are better, cheaper, faster at authenticating/buying/selling/delivering digital items than alternatives available. This makes it a viable currency and trading mechanism for all things digital. That's powerful and will grow as applications are added

Eth Smart Contracts for De-Fi are better at enabling depositing/saving/trading of financial instruments than banks. One is automated and trustless and near immediate. The other is dependent on buildings full of people who add cost and friction to the same transactions

Where alt coins can offer rewards to their holders because they gain revenue for the more productive service they offer, they can succeed with enough users. It is VERY COMPETITIVE. Barriers to entry are minimal. Which is the risk to all participants. But rewards better solutions

Meme coins like Doge only work if they gain utility and users use them for that utility. As long as you can spend Doge , because we know it's annual inflation rate is set at 5b coins, it can gain SOME value as the utility grows. It becomes like any other currency...

As long as more companies take doge for products/services, then Doge can be a usable currency because it MAY hold its purchasing value better than a $ in your bank. If interest rates skyrocket or the amount spent falls or stagnates, so will Doge. Yes, a joke is now legit

Crypto not just about being more productive and effective, but also no longer dependent on "trusted institutions" Ask PPP applicants how much they trust their big banks? Do you trust your health insurer?. Crypto is trustless and a better way to handle many transactions.

So when someone says they don't get why crypto assets have value. Show them this.