3 ms·
What's bad about speculation? Or do you mean short term speculation? There are many bitcoins that did not move for many years. I do not get why speculation in E
by jraedisch 7y ago
What's bad about speculation? Or do you mean short term speculation? There are many bitcoins that did not move for many years. I do not get why speculation in ETFs, land/housing and other assets is accepted as normal, and with Bitcoin it is somehow bad.
- bdcravens 7y agoNothing is wrong at all with speculation. What feels wrong is the disingenuousness of claiming the anti-government, anti-bank ideology when that's not its primary pragmatic use case.
- bb88 7y agoActually I disagree speculation for the pure sake of speculation is bad. Otherwise it's no different than gambling that some random number will be worth more or less in the future. It's like roulette, only for the nerdy-set. If I buy Apple stock, technically that's tied to a corporation named Apple that has assets and revenue (more or less, maybe less these days than you might assume). But bitcoins are just numbers, some more valuable than others. But more to the point, hoarders were encouraging the use of bitcoin as a store of value, lying about their true use cases (speculation), hoping the big fish would start investing so the early people would cash out. It turned out to be one massive pump and dump scheme, but with cryptography, so that makes it okay.