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It's worrying, isn't it, people putting money into bitcoin because there are no productive investment opportunities available in the real world. That's secular
by HarryHirsch 6y ago
It's worrying, isn't it, people putting money into bitcoin because there are no productive investment opportunities available in the real world. That's secular stagnation.
- thebean11 6y agoWouldn't necessarily call bitcoin non-productive, any more than an unprofitable startup is non-productive. The technology does currently have niche use cases, and the decentralization can be a positive. It's a bet that "productive" things will be enabled by it.
- HarryHirsch 6y agoOne can make a good case for certain startups like Theranos or U-Beam to be the same type of non-productive investment as Bitcoin. Bitcoin exists only in the imagination, but some business models or products are just as imaginary because they are physically impossible. It's the same phenomenon, capital being thrown at things increasingly unlikely to yield a return.