Vinny Lingham & Happy Money Man
I went to a meetup and forgot my hat.
When I met Vinny I felt naked. I don't think he noticed.
Vinny had a good macroeconomic take on crypto.
All the ICOs that are now running are burning through cash and holding the crypto price down.
So consider it this way. You launch an ICO. You sell a bunch of your coin to the community. Then you turn around and turn that coin back into fiat currency to pay all the employees working on your ICO.
To exacerbate this phenomenon, most crypto startups aren't generating any capital.
So ICOs end up being an offramp for crypto back into fiat. They're burning through crypto faster than new buyers are coming in at this point.
Think on that for a bit. I thought it was pretty interesting.
Thanks Vinny
Cheers My Steem Friends
Much Love,
Brandon (Happy Money Man)