Crypto is not the stock market, nor is it Bitcoin. Crypto has a founder, a foundation, and a large number of early investors. It is completely centralized and regulated, with its price manipulated by market makers and exchanges. More than 99% of cryptocurrencies provide no dividends, buybacks, profits, or cash flows to token holders, and even if they do generate profits, they are not distributed to token holders. The sole purpose of the daily issuance of crypto is to defraud investors.
Therefore, if one insists on finding a reason to invest in crypto, it is purely for speculation. The only safety net for investing in crypto speculation is FDV (fair market value). Only with a low enough FDV can there be a low enough price to level the playing field for early investors on the secondary market, as their chips are the only key factor that can make you lose money on altcoins, rather than anything else. For many cryptocurrencies, FDV cannot even be considered a safety indicator and does not provide any value for participation.
All narratives are told for the benefit of fools. With GPT, one can come up with numerous narratives and economic models for blockchain. Only the fairness of chip distribution can determine whether the game is worth playing.
