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Yeah, that’s pretty much my feeling too. Maybe one day crypto currencies will be useful for making purchases, but they certainly aren’t today, and I think it’s
by yashap 9y ago
Yeah, that’s pretty much my feeling too. Maybe one day crypto currencies will be useful for making purchases, but they certainly aren’t today, and I think it’s decenty likely they’re never used much in that capacity.
If you just want to hold an asset, are they really worthwhile over physical assets? There are arguments both ways, but my gut feeling is no.
I think the vast, vast majority of the reason for their rise in price is a combination of “the price is going up, I gotta get in now!”, and manipulation by large, unscrupulous investors. Basically, a tulip mania/pyramid scheme type phenomenon. Maybe I’ll be proven wrong, but I don’t see any really value/utility, and expect an absolutely massive collapse.
I think there’s just enough “maybe it’ll be the new gold! Maybe it’ll be the new USD!” to fuel the hype, but mostly I think it’s only going up because it’s going up, which is really the strongest indicator of truly terrible bubble.