Crypto is destined to be the "agricultural revolution" of finance. But SANP, BCS, PO8, Frankie CHURCH... is to the crypto revolution, as DUTCH TULIPS were to the agricultural revolution.
If you actually think about his Next Big Thing (I'm guessing it's some kind of cryptocoin which would allegedly represent "ownership" of some share of some sunken treasure artifact (not that he'll ever FIND one).. but the artifact itself would remain in the possession of the Bahamas government. What a buyer would be buying is the ability to PAY MONEY TO TRAVEL TO THE BAHAMAS, visit a museum there, point to an artifact in a case, and say "yup, I own a share of that one".
The money spent buying PO8 coins from Frankie would fund his "treasure hunting" - which I predict will consist entirely of sitting in beach chairs on Bahama beaches, tropical drink in hand, occasionally glancing at the surf line just in case something shiny washes up.
As an "investment", shares of treasure search companies are NOTORIOUSLY BAD PERFORMERS. There have been a small handful of exceptions, against thousands which have been money furnaces steaming toward bankruptcy. Tying it to a cryptocoin does not change the basic dynamic where the costs are so high, and the oceans so big that the odds of finding anything are so low, and the historical preservation rules (read: "Bahamas taxes") are so restrictive, that almost NOBODY makes a profit doing this. Ironically... Frankie will. Not from finding ANY treasure, but from the SUCKERS who buy his PO$ coin and fund his beach vacation lifestyle.
(sidebar: Off Kelley's Island in Lake Erie, wreck hunters have just announced that they found an early, small, lake schooner which sank carrying a load of LIMESTONE. They're self-funded, and searching for interesting dive sites - not treasure - and it's a good thing, because LIMESTONE is worth maybe $100/ton on a truck delivered to your site. The ship's cargo isn't worth recovering... even if they could (which they can't, under the "Abandoned Shipwreck Act"))
