2025-09-03 at

Cryptocurrency Asset Class : still no moat

Most reliable / fastest / cheapest / most decentralised / etc.

But still no moat ... since no cryptocurrencies currently have a moat ... so it's momentum plays on early movers, rotation, and bleed outs on most things ... and possible all things until there's a technological solution that creates moats for cryptocurrencies ... the entire sector basically behaves like Top of the Pops :)

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