speculators always talking about the marginal buyer on tokens, who's going to buy after me

sounds stressful. why waste time waiting for exit liquidity on vapor

the only investable tokens are ones that people want to acquire for reasons other than selling higher

velodrome & aerodrome
optimism delegate & grant council member

unless talking about cash flows/dividends (from my understanding not feasible under existing regulatory structures)

isn't literally every *investment* for the purpose of selling higher?

yeah, i'm more talking about some reasonable value and control that's conferred onto the thing you're acquiring. you buy stocks because they give you a legal claim to cash flows, which has intrinsic value. not necessarily so with tokens.

yea then agree. on long time horizons, very little in crypto is truly investable. good trades on intracycle time frames but that's it