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I mean, I can make the same argument for any tech stock shares. All they give me is "governance rights" but at the end of the day, I'm trying to convince the ne
by intotheabyss 6y ago
I mean, I can make the same argument for any tech stock shares. All they give me is "governance rights" but at the end of the day, I'm trying to convince the next guy that TSLA is worth 500B in marketcap and that the TSLA stock will capture that value... somehow.
- SI_Rob 6y agoSure, I mean it is increasingly apparent that Bitcoin has, as they say these days, "said the quiet part out loud" with respect to what kinds of motives really drive the stock market, and what signals its participants actually respond to. "Gainz" are swallowing "value" everywhere. Doesn't hurt that the crypto casino is open 24/7 as well. The difference with stocks, however, is that stocks don't make a big show of pretending to be decentralized. Everyone knows and acknowledges that a relative handful of well-connected actors have enough leverage to wash everyone else out of TSLA if they so chose, but for the Bitcoin cultists it's anathema to even suggest the same inexorably centralizing forces are at work. A lot of collective effort is spent on propping up the "decentralization" meme (and its accomplice, the "anonymity" meme), effort which ironically makes the proponents value their Bitcoin all the more; they want to realize a return on that work.