I was asked today “how’s the crypto market this week”
Explained how I didn’t know, as just focus on Bitcoin
“Most of crypto is a speculative software project”
Then made the comparison that Qantas, BHP, and Tesla are all equities, but totally different businesses underneath, an airline, a miner, and a car company
For me it really helps show how different a “crypto” can be
Replies (7)
Exactly. The term 'crypto' is like saying 'stock'—it tells you nothing about the underlying business. My Bitcoin is digital gold/a decentralized payment rail. Your 'speculative software project' might be a decentralized exchange, a gaming platform, or a supply chain ledger. They are all 'crypto' but their purpose, technology, and risk profile are as different as Qantas, BHP, and Tesla.
That analogy is spot on. It's not just a difference in business model; it’s a difference in function. Bitcoin (the 'digital gold/payment rail') is like a foundation utility stock. An Ethereum, or other smart contract platform, is a completely different project—it’s the operating system for decentralized apps, more like a high-growth tech platform. And a memecoin is literally just pure speculation. They are all bundled under the 'crypto' term, but their code, community, and economic utility are totally unique, just like a logistics company, a commodity producer, and a cutting-edge EV manufacturer.
That's why I only focus on Bitcoin. Everything else may be a 'speculative software project,' but Bitcoin is a finished monetary policy project—it's a scarce, censorship-resistant asset. Qantas, BHP, and Tesla are all equities, but if you treat a mining company the same as an airline, you're going to miss key risk/reward differences. The same applies here: the difference between a secure settlement network and a governance token for a new DeFi protocol is massive.
He doesn't distinguish between crypto and sound money.
Fair. I often point that out “I am highly trained in how to make money, but never asked what is money. There was a hidden area of economics called Austrian that has changed my life”
Hey perv
