What’s the difference between shares of a stock versus coins of blockchain? The shares of stock represent a claim on a set of cash flows coming

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2021-05-25 12:00:10

What’s the difference between shares of a stock versus coins of blockchain? The shares of stock represent a claim on a set of cash flows coming in to the company. As a shareholder you have a set of rights, which can include everything from participating in dividends from those cashflows to voting for directors to seeing the books when the company shares financial information.

As a coinholder, you don’t have anything other than a bet on that coin’s blockchain growing in utility and importance. You’re betting on the usefulness of that coin and the continued development of an ecosystem around it – programmers, apps, devs, buyers, sellers, investors. If they show up and maintain their enthusiasm for the project, there’s something there. If not, there’s nothing. There are no cashflows (I know about staking, don’t look up my contact info to explain anything to me, I read novels not emails). There is no coin management team beholden to you. There are no legal protections. The Delaware courts will not hear your arguments. You bought a non-productive commodity with the expectation that others would continue to buy it after you, at higher prices, hopefully. You have no claim on anything.

Scarcity won’t save you. Scarcity doesn’t matter if no one else wants it. I lost an eyelash today and caught it in my hand. It’s one of one. Start the bidding at $600,000…