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Your comment actually embodies one of the most ironic parts of this whole fiasco: Bitcoin, which is purported as the anti-fed/anti-government savior of the futu
by Calamity 6y ago
Your comment actually embodies one of the most ironic parts of this whole fiasco: Bitcoin, which is purported as the anti-fed/anti-government savior of the future world economy (maybe I'm exaggerating a bit, but I don't think I'm too far off the mark), is ultimately going to serve as one of the best examples of exactly "why" we have regulation and oversight in the first place.
- graeme 6y agoKgwgk put it better than me I think, with their examples of diversification across bad asset classes. Also a thought occurs. Many people reading this will think “but these cynics are mistaken. Those who invested in bitcoin have seen massive returns”. Not so. The paper value of bitcoin is up, but unlike a stock, you don’t own anything. You need someone to actually buy the bitcoin in order to gain value. Whereas as long as a company has profits, there’s a floor on things. The shares will have real use value so the price can’t fall too low. Meaning buy bitcoin at $200, own now at $41,000. Only has value if you sell. If everyone tries to sell and no one is buying there’s no floor, none. Whereas bought Apple at $20, own at $132. The price could fall, but there’s some kind of floor below which it could not fall based on current profits and dividends, and that floor is almost certainly above $32.
- deleted 6y ago[deleted]