6 ms·

What asset class has returned value like crypto for the past 10 years? None.

qeternity 6y ago
Ok, is Bitcoin a super speculative investment, or a savings account? Now you're just moving goal posts. Ironically, crypto's returns are all due to Tether...which is purely inflationary printing. USDT is what you'd get with the USD if the Fed were run by actual criminals. Let's chat in a year.
- solosoyokaze 6y ago
  It's not that it's a speculative investment, it's that the dollar is continuously plunging in value and taking everything tied to it down too. BTC (and several other cryptos) are the only safe place to store money in the long term. > Let's chat in a year. Indeed. No one who's bet against crypto has come out looking prescient.
adriancr 6y ago
Stock market... derivatives...
- deleted 6y ago
  [deleted]
- solosoyokaze 6y ago
  Not even close.
  - qeternity 6y ago
    Just curious, what flavor koolaid do you prefer?
    - solosoyokaze 6y ago
      Not sure I understand your question. You can compare BTC to the S&P 500 yourself to see which has offered a far better return over the past decade.
      - adriancr 6y ago
        one example: 500$ to 1M in 1 year on tesla calls. 50k to 15M in GME calls in less then 1 month if you were lucky. It's all gambling but to say bitcoin is the best source of wealth/gambling shows your lack of experience. Where would you put your money now that bitcoin is 50k? I want to compare that to my stock + calls on random meme stocks. (also vs s&p)
        solosoyokaze 6y ago
        Ridiculous examples. BTC has been consistently up for a decade (or USD has been plummeting that long, depends how you look at it). > Where would you put your money now that bitcoin is 50k? BTC of course. USD is only going to continue to drop.
        adriancr 6y ago
        Let me give you an example: I invested a nice sum of money in November 2019. Option 1: BTC from 9300 to 48000 means 5x Option 2: TSLA from 62 (pre-split) to 796 means 12x. (much much more via calls) Which do you think I went for? Which strategy do you think will continue to make reliable money in the future?
        solosoyokaze 6y ago
        You're cherry picking a single point in time that happens to work with one stock (one might also argue the move to electric vehicles is actually a world changing event ala bitcoin). What about November 2018 or November 2017? Like I said, Bitcoin has consistently been up in the long term for the past decade.
throwaway829 6y ago
I’m pro crypto but this statement could of been made during the tulip mania. I think the better argument is being free from central bank devaluation of hard earned savings.
jboog 6y ago
This is an asinine argument. The risk profile of Crypto vs an index fund is exponentially worse. What you should care about is what asset provides you the best return with the lowest risk. At any time in history you can look back at the past ten years and say "Clearly X stock was the best choice for investors and you're foolish to claim otherwise!"

Ok, is Bitcoin a super speculative investment, or a savings account? Now you're just moving goal posts. Ironically, crypto's returns are all due to Tether...which is purely inflationary printing. USDT is what you'd get with the USD if the Fed were run by actual criminals. Let's chat in a year.

solosoyokaze 6y ago
It's not that it's a speculative investment, it's that the dollar is continuously plunging in value and taking everything tied to it down too. BTC (and several other cryptos) are the only safe place to store money in the long term. > Let's chat in a year. Indeed. No one who's bet against crypto has come out looking prescient.

adriancr 6y ago

Stock market... derivatives...

deleted 6y ago
[deleted]
solosoyokaze 6y ago
Not even close.
- qeternity 6y ago
  Just curious, what flavor koolaid do you prefer?
  - solosoyokaze 6y ago
    Not sure I understand your question. You can compare BTC to the S&P 500 yourself to see which has offered a far better return over the past decade.
    - adriancr 6y ago
      one example: 500$ to 1M in 1 year on tesla calls. 50k to 15M in GME calls in less then 1 month if you were lucky. It's all gambling but to say bitcoin is the best source of wealth/gambling shows your lack of experience. Where would you put your money now that bitcoin is 50k? I want to compare that to my stock + calls on random meme stocks. (also vs s&p)
      - solosoyokaze 6y ago
        Ridiculous examples. BTC has been consistently up for a decade (or USD has been plummeting that long, depends how you look at it). > Where would you put your money now that bitcoin is 50k? BTC of course. USD is only going to continue to drop.
        adriancr 6y ago
        Let me give you an example: I invested a nice sum of money in November 2019. Option 1: BTC from 9300 to 48000 means 5x Option 2: TSLA from 62 (pre-split) to 796 means 12x. (much much more via calls) Which do you think I went for? Which strategy do you think will continue to make reliable money in the future?
        solosoyokaze 6y ago
        You're cherry picking a single point in time that happens to work with one stock (one might also argue the move to electric vehicles is actually a world changing event ala bitcoin). What about November 2018 or November 2017? Like I said, Bitcoin has consistently been up in the long term for the past decade.

throwaway829 6y ago

I’m pro crypto but this statement could of been made during the tulip mania. I think the better argument is being free from central bank devaluation of hard earned savings.

jboog 6y ago

This is an asinine argument. The risk profile of Crypto vs an index fund is exponentially worse. What you should care about is what asset provides you the best return with the lowest risk. At any time in history you can look back at the past ten years and say "Clearly X stock was the best choice for investors and you're foolish to claim otherwise!"