I'm not into gambling16 Dec 2023 15:04
I've been silently observing this board for a while but thought I'd chime in for once as the negative nancies seem to be overwhelming the hopeful and I'd like to bring some balance.
I, like many on this board, have been holding for 3yrs+ and topping up on every opportunity. I'm well aware it could go either way, but I've been immune to the ups and downs (emotionally at least as I'm still in the red) mainly due to my conviction of the platform and the value proposition here and I'd like to explain why.... but not without a prologue... for context...
I am by no means a fintech expert... but I have worked in the financial industry for 12yrs with a background in IB tech/high frequency/low latency trading (FX mainly). I never aimed to work in banking as my background is in computer science and there are better ways for tech to serve humanity...but its where I ended up... and throughout my time I've only become further more disillusioned with our current financial system and just actually how much of a con the whole thing is and how much genuinely needs to change.
Without writing a whole essay on the topic... I'll summarise it to one statement - FIAT currency is NOT MONEY. Money - by definition, must be three things - tangible (of course... can't trade imaginary tokens....although some are trying these days...), divisible (scalable) but MOST importantly, RETAINS value over time.
FIAT currency, subject to inflation, fractional reserve lending and USURY/interest (mathematical fraud/black hole mechanics) therefore CANNOT be considered MONEY by definition as not only does it not retain value over time, but loses value, leading to deprivation and destitution BY DESIGN as we're always generating more debt than money in flotation, so the model is UNSUSTAINABLE and designed to collapse at some point..... so alternatives are required.
Now gone are the days of gold/silver/precious metals backed currency and trust in governments and central banking seems to be at an all time low.... and with the rise of distributed ledgers/blockchain the gig is up. The solution I believe is to being back stable currency that we can ACTUALLY call money and the way we do that is asset backed investments.
Ultimately, the buzzwords that caused me to invest were inventory monetisation/blockchain and Shariah compliance - just the fact that Zamboni made the effort to collaborate with Islamic scholars to "certify" the platform gave me a huge boost in confidence in the company and it's vision and eventually, God willing if the platform goes live in the middle east and Asia... potential is huge.
I genuine believe asset backed investments are the way to go.. and this platform/inventory monetisation and potential new asset class is a step in that direction.
As a fallible human being with access to the same limited information we all have, this could go the other way, but even if it does, at least my conscience is clear.
God bless