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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple style='word-wrap:break-word'><div class=WordSection1><p class=MsoNormal>I think there are many useful areas for blockchain technology. I don’t understand cryptocurrencies, though. Too speculative for my tastes, and they are terrible energy consumers. Stocks at least have some intrinsic value if the underlying companies are solvent.<o:p></o:p></p><p class=MsoNormal>-- Carl<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b>From:</b> LCTG <lctg-bounces+carllazarus=comcast.net@lists.toku.us> <b>On Behalf Of </b>Marvin Menzin<br><b>Sent:</b> Tuesday, February 08, 2022 3:01 PM<br><b>To:</b> Jerry Harris <jerryharri@gmail.com><br><b>Cc:</b> Lex Computer Group <lctg@lists.toku.us><br><b>Subject:</b> Re: [Lex Computer & Tech Group/LCTG] Crypto and Web3 Thoughts<o:p></o:p></p></div></div><p class=MsoNormal><o:p> </o:p></p><div><p class=MsoNormal>Hi Jerry <o:p></o:p></p><div><p class=MsoNormal>my two cents ..reading none of the posts .<o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal>it does make me wonder if I am a fossil by ignoring bitcoin .<o:p></o:p></p></div><div><p class=MsoNormal>of course blockchain technology is very important but distinct from bitcoin and its ilk<o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal> there are so many people buying bitcoin and similar … big bankers , musk etc .<o:p></o:p></p></div><div><p class=MsoNormal>so i often feel like a dummy staying out . ok maybe i am . <o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal> but remember the biggies put in a tiny pct of their assets just for fun or just in case,so if it goes to zero they dont feel any real pain ..<o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal>my bottom line … these coins have no intrinsic value and consume lots of energy.<o:p></o:p></p></div><div><p class=MsoNormal>and when the government decides a rival currency is a threat,the govt will wipe them out legally .<o:p></o:p></p></div><div><p class=MsoNormal>so they seem to me a trading or gambling game where i buy these coins hoping to sell them to another at a profit, before they collapse. <o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal>some like casinos and some few are smart enough win and quit ahead in casinos and in bitcoin. <o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal>but to me its very late in the game so entering may be much riskier now ..<o:p></o:p></p></div><div><p class=MsoNormal>so this fossil will pass. <o:p></o:p></p></div><div><p class=MsoNormal>marvin <o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal> <o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal style='margin-bottom:12.0pt'> <o:p></o:p></p><div><p class=MsoNormal>Sent from my iPad<o:p></o:p></p></div><div><p class=MsoNormal><br><br><o:p></o:p></p><blockquote style='margin-top:5.0pt;margin-bottom:5.0pt'><p class=MsoNormal style='margin-bottom:12.0pt'>On Feb 8, 2022, at 2:21 PM, Jerry Harris <<a href="mailto:jerryharri@gmail.com">jerryharri@gmail.com</a>> wrote:<o:p></o:p></p></blockquote></div><blockquote style='margin-top:5.0pt;margin-bottom:5.0pt'><div><p class=MsoNormal><o:p></o:p></p><div><div><p class=MsoNormal>Hello, <o:p></o:p></p></div><div><p class=MsoNormal>This is my first post here. My interests are more aligned with the software side of technology, so I thought I'd share some research and thoughts I have about the digitization of currency, assets, and economies. I'm curious to hear what others think. <o:p></o:p></p></div><div><p class=MsoNormal><o:p> </o:p></p></div><div><p class=MsoNormal>Cheers, <o:p></o:p></p></div><div><p class=MsoNormal>Jerry<o:p></o:p></p></div><div><p class=MsoNormal>---<o:p></o:p></p></div><p class=MsoNormal>Does anyone else feel like Crypto/Web3 space is a mix of Dr. Jekyll and Mr. Hyde? <br><br>Dr. Jekyll: Crypto/Web3 is surging - to the moon!<br>- VC funding is surging- >$25B in 2021 [1]<br>- NFTs sold for $14B in 2021 [2]<br><br>Mr. Hyde: Crypto/Web3 where suckers are minted every minute.<br>- Almost $500 million has been lost in 2022 due to crypto scams and smart contract exploits. [3]<br>- The FTC reports almost $770 million lost in 2021 due to social media scams where cryptocurrency was involved in most of them. [4]<br><br>Jekyll & Hyde: Crypto/Web3 is up for grabs for legitimate and illegitimate uses. <br>- Twitter spats hint at a scramble to define and profit from the future "crypto" market. [5]<br>- Darknet crypto markets still exist where most transactions are for drugs. [6]<br><br>What does all this *mean* though? What are these technologies and how are they used and exploited: Bitcoin, blockchain, NFTs, smart contracts, meme coins, DAOs? If we're in a bubble, is there anything useful to benefit "normies" after it pops? <br><br>These are some of the questions I asked myself this past summer and so started to do more research. Having worked during the dot-com boom and bust and resurgence - the Web1 and Web2 eras - my first inclination was to think the crypto bubble will pop and Web3's intrinsic value will be re-purposed in less speculative products. I don't feel this any longer. The founding design principles of Bitcoin, blockchain, and smart contracts seem so wildly at odds with basic requirements of a scalable[7], reliable, and safe[8] ecosystem[9] in which millions can participate, that I'm not sure how these technologies can be re-purposed or extended without changing their fundamental nature[10]. <br><br>I am curious what others think about these topics. I included a lot of links below. These 3 provide deep analysis: [7] [9] [10]<o:p></o:p></p><div><div><p class=MsoNormal><br>Links:<br>[1] <a href="https://www.nytimes.com/2021/12/01/business/dealbook/crypto-venture-capital.html">https://www.nytimes.com/2021/12/01/business/dealbook/crypto-venture-capital.html</a><br>[2] <a href="https://news.yahoo.com/nft-sales-hit-565-million-153901719.html">https://news.yahoo.com/nft-sales-hit-565-million-153901719.html</a><br>[3] <a href="https://web3isgoinggreat.com/">https://web3isgoinggreat.com/</a><br>[4] <a href="https://www.archyde.com/cryptocurrencies-drive-rise-in-online-scams-ftc-report-says/">https://www.archyde.com/cryptocurrencies-drive-rise-in-online-scams-ftc-report-says/</a><br>[5] <a href="https://twitter.com/jack/status/1473139010197508098?ref_src=twsrc%5Etfw">https://twitter.com/jack/status/1473139010197508098?ref_src=twsrc%5Etfw</a><br>[6] <a href="https://www.emcdda.europa.eu/system/files/publications/8347/Darknet2018_posterFINAL.pdf">https://www.emcdda.europa.eu/system/files/publications/8347/Darknet2018_posterFINAL.pdf</a><br>[7] <a href="https://hackernoon.com/web-30-will-not-achieve-decentralization-and-scale-heres-why">https://hackernoon.com/web-30-will-not-achieve-decentralization-and-scale-heres-why</a><o:p></o:p></p></div><div><p class=MsoNormal>[8] Today (Feb 8) some crypto companies announced an industry coalition to combat fraudulent schemes like pump-and-dump and wash trading. <a href="https://www.protocol.com/bulletins/crypto-market-integrity-coalition">https://www.protocol.com/bulletins/crypto-market-integrity-coalition</a><br>[9] <a href="https://moxie.org/2022/01/07/web3-first-impressions.html">https://moxie.org/2022/01/07/web3-first-impressions.html</a><o:p></o:p></p></div><div><div><p class=MsoNormal>[10] <a href="https://www.youtube.com/watch?v=YQ_xWvX1n9g&t=36s">https://www.youtube.com/watch?v=YQ_xWvX1n9g&t=36s</a><o:p></o:p></p></div><p class=MsoNormal><o:p> </o:p></p></div></div></div><p class=MsoNormal>===============================================<br>::The Lexington Computer and Technology Group Mailing List::<br>Reply goes to sender only; Reply All to send to list.<br>Send to the list: <a href="mailto:LCTG@lists.toku.us">LCTG@lists.toku.us</a> Message archives: <a href="http://lists.toku.us/private.cgi/lctg-toku.us">http://lists.toku.us/private.cgi/lctg-toku.us</a><br>To subscribe: email <a href="mailto:lctg-subscribe@toku.us">lctg-subscribe@toku.us</a> To unsubscribe: email <a href="mailto:lctg-unsubscribe@toku.us">lctg-unsubscribe@toku.us</a><br>Future and Past meeting information: <a href="http://LCTG.toku.us">http://LCTG.toku.us</a><br>List information: <a href="http://lists.toku.us/listinfo.cgi/lctg-toku.us">http://lists.toku.us/listinfo.cgi/lctg-toku.us</a><br>This message was sent to <a href="mailto:mmenzin@icloud.com">mmenzin@icloud.com</a>.<br>Set your list options: <a href="http://lists.toku.us/options.cgi/lctg-toku.us/mmenzin@icloud.com">http://lists.toku.us/options.cgi/lctg-toku.us/mmenzin@icloud.com</a><o:p></o:p></p></div></blockquote></div></div></div></body></html>