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Icos, DeFi, and NFT are just new ways to gamble. Bitcoin competes with gold as the best store of value. Most people aren't interested in gambling, but storing t
by Geee 6y ago
Icos, DeFi, and NFT are just new ways to gamble. Bitcoin competes with gold as the best store of value. Most people aren't interested in gambling, but storing their wealth.
- suikadayo 6y agoThey are new ways to gamble, but not everyone is in it to gamble. ICO is just a way for startups to raise money (though lately, it seems to be more about governance tokens once they have their project up), DeFi is a way for people to lend and get loans, trade margin, synthetic stocks, and NFTs empower creatives to make money off of their work and people buy them because they enjoy it and also see them as long term investments just like in the traditional art world. Are the prices ridiculous? Sure, but so is Bitcoin during bull runs. Things will settle during the next bear run and tokens will likely reflect more realistic prices.
- woah 6y agoMy point is that rises in the Bitcoin price seem to be driven by news about applications on Ethereum. That holds regardless of whether or not you think Bitcoin somehow isn't gambling.
- Geee 6y agoIt's the other way around. Bitcoin is rising because it's being accepted by treasuries and institutions as an investment, and it is also following the price appreciation cycle from the last halving event. Everything in crypto is following bitcoin. NFTs were invented a long time ago, but they're popular now because of the bull cycle.