Are Crypto Assets Worthless?

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Dollara: crypto acids don't have the same level of intrinsic value as, let's say, a paper company. And for that reason, i think it's a lot harder for people to ascertain what this thing is worth. Dollara: Certain crypto assets do have more similar features to traditional securities than others. But because it doesn't have this intrinsic layer, it really can vary from being absolutely worthless or extremely valuable.

At a time where several asset classes are at all-time highs, there's a lot of talk about whether we're in a bubble. That, coupled with crypto assets falling to ~half of their highs, prompted Cal and Steph to dive in to try to answer this question.

In this episode, they discuss the markings of past bubbles, the innovation hype cycle, the difficulty in profiting from nascent innovations, the importance of educating yourself and building your own conviction behind your decisions, managing your psychology (offense vs defense), the cyclical nature of market cycles, and of course... the burning question of whether they think we're in a bubble today.

They also share how they've fared in crypto and how they're thinking about investing moving forward (including Cal's foray into de-fi)

Recommended resources include the books "The Simple Path to Wealth" and "A Random Walk Down Wallstreet", as well as economic indicators like the Shiller PE ratio: https://www.multpl.com/shiller-pe

*** NOT FINANCIAL ADVICE *** :)