"Overall I think the high case (market leader in a growing market) is much higher than you paint and the risk reward in shorting good companies, market leaders in growing technology spaces is just not good, the unlimited downside is not just theoretical."
I would agree with this - speaking as a nocoiner who thinks crypto is largely stupid…
"Overall I think the high case (market leader in a growing market) is much higher than you paint and the risk reward in shorting good companies, market leaders in growing technology spaces is just not good, the unlimited downside is not just theoretical."
I would agree with this - speaking as a nocoiner who thinks crypto is largely stupid BS. The thesis has echoes of TSLA. Crypto as an asset class/industry has many fewer tailwinds and more headwinds than electric cars/green tech, but on the other hand it's all just software so the operational leverage is insane. US regulators have settled with other crypto brokerages, which does not suggest a cold determination to systematically strangle the crypto industry to death. The Blackrock ETF filing designating COIN as custodian suggests savvy insiders are seeing things quite the opposite.
"Overall I think the high case (market leader in a growing market) is much higher than you paint and the risk reward in shorting good companies, market leaders in growing technology spaces is just not good, the unlimited downside is not just theoretical."
I would agree with this - speaking as a nocoiner who thinks crypto is largely stupid BS. The thesis has echoes of TSLA. Crypto as an asset class/industry has many fewer tailwinds and more headwinds than electric cars/green tech, but on the other hand it's all just software so the operational leverage is insane. US regulators have settled with other crypto brokerages, which does not suggest a cold determination to systematically strangle the crypto industry to death. The Blackrock ETF filing designating COIN as custodian suggests savvy insiders are seeing things quite the opposite.