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October 16, 2018

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Crypto Investing: Are We Doing It Wrong?

January 4, 2019

 

Bitcoin is the only cryptocurrency that matters. All other cryptocurrencies have little value and therefore, it is nearly impossible to do accurate valuations of them. We, as crypto investors and professionals, have heard these statements and more time and time again as the blockchain industry and its’ cryptocurrency markets continue to develop.

 

Overarching all of this is a question that none of us seem to have found an accurate answer to. What gives blockchain projects their value beyond the obvious examples of Bitcoin and similar projects that serve as new forms of money?

 

In an article for CoinDesk today, Sid Kalla and Bradley Miles of the Ethereum firm called Roll, suggested that the central problem in crypto investing today is that we are not defining any coins or tokens correctly as an asset class. As you may have already seen through the work of professionals like Chris Burniske and Jack Tatar, the most popular definition of cryptocurrencies in traditional financial terms is to call them “crypto assets.” Kalla and Miles make no qualms about suggesting that to do so is a fallacy and that all cryptocurrencies should be defined as a new class of investment product, not as an existing one.

 

With this in mind, you may find it difficult to conceptualize a road ahead so to speak. Related to this, it would be logical to ask: is there an answer to what this new class should be? Following that, would defining cryptocurrencies in this way help us to more accurately discover their intrinsic value?

 

As in any new industry, the easy answer here would be to say that it is too early to tell. Given the nature of the blockchain space, especially in a current legal context, we could more precisely conclude that we need more and clearer regulatory frameworks before we even begin to answer such questions.

 

Here’s to hoping that 2019 brings those answers that we all crave.

 

 

By: BGN Editorial Staff

 

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