Cardano (ADA) & Avoiding Crypto Lies | Cardano Rumor Rundown #488

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We’ve gotta have a discussion about real value in crypto & what I would call legal fiction. I would propose that real value in crypto is actually tied to utility just like it is in the real world. A legal fiction, on the other hand, is an assertion we accept as being more true than it really is to arrive at a desired legal result. Unfortunately, what happens in crypto is that the actual value of a project, its actual utility, often turns out to be of…let’s call it ambiguous legality. So, we invent some legal fiction to make it seem like the project token derives its value not from the possibly illegal thing, but from something else entirely…some false narrative. Yet we still want to peg that value on the outlaw utility. This, of course, is ridiculous & not sustainable. But, it doesn’t have to be this way. True decentralization & self-custody like we saw in Bitcoin, like we see today in Cardano, mean that you don’t have to engage in these unsustainable mental gymnastics.

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Timestamps►►
0:00 Intro
2:05 False Narratives in Crypto
11:04 The Original Way to Structure Projects
16:41 VC Equity vs. VC Tokens–Catch22
20:43 LBRY Announces Own Death
21:09 Gaming Revenue is Huge
23:31 Rogue Galaxies–Not P2E

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Companion Reddit thread ►►

Cardano Rumor Rundown November 29, 2022 from cardano

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Complete list of previously covered items ►►
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#Cardano #ADA #cryptocurrency #cardanonewstoday #cardanoupdate #crypto

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