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To be fair though that's most things. That's the very purpose of the stock market. When you buy a stock most of the time most people don't care what the company
by wonderwonder 6y ago
To be fair though that's most things. That's the very purpose of the stock market. When you buy a stock most of the time most people don't care what the company it represents does, they just want the stock to go up. Same thing can be applied to most things there are vast warehouses full of art people will never see as its just owned as a tax dodge / speculation. Heck most of us work jobs we hate for nothing but money. Greed / speculation and the need for income make the world go round.
- XorNot 6y agoAll those things still produce tangible goods at the end though, is the difference. I can hate my job but at the end of the day I still created value for my employer. Companies on the stock market still create actual value for people, even if shareholders don't particularly care how they do it.
- deleted 6y ago[deleted]
- X6S1x6Okd1st 6y agoDoes Facebook produce tangible goods?
- jokethrowaway 6y agoYes, a social network
- X6S1x6Okd1st 6y agoHow do you define tangible?
- epinephrinios 6y agoBitcoin and Ethereum are also... networks!
- uh-quan 6y agoBitcoin produces a money that cannot be debased by inflation on a whim and which is very hard to forcibly confiscate. It can be transferred in minutes to any place on the globe, across any number of borders and past any capital controls, with transactions that cannot be stopped or censored by even the most powerful and invasive government on Earth. It's a safe haven from fiat currencies and almost a perfect medium of savings. Unless we are working with a weird and strict definition of "tangible," I'd say it's tangible good that is, rightly, valued by many millions of people.
- notJim 6y agoThis seems detached from reality. * Governments can and have confiscated bitcoin * they can stop transactions by blocking access to wallets and exchanges etc * They're a terrible medium for savings, unless you want your savings account to routinely swing wildly up and down in value * 99.9% of people interested in Bitcoin do not care about these supposed benefits (which I'm skeptical even exist.) Yes there are the handful of goldbugs and libertarians, but most just want to see the number go up.
- uh-quan 6y agoThis is all well-trodden ground. First, if you are concerned about things like confiscation, then you take the recommended security steps such as running your own node. At that point confiscation is indeed difficult (not impossible) and blocking access is essentially impossible. A government would have to prevent you and anyone who could act on your behalf from having any access to the Internet in order to stop the transaction being propagated on the network. As for savings: I stand by my assertion. In its early years, yes, bitcoin is going to be volatile. But as anyone who has held bitcoin for 3+ years knows, it retains and grows value over the course of years exceptionally well. Savings implies a medium- and longer-term horizon — think years, not months — and on that horizon bitcoin has always been a winner. I think there are more people in this world who care about the harms of inflation and capital controls than you are giving credit to. I care about preserving my wealth from debasement, as do all of the people I happen to know who hold bitcoin. And I suspect I might have a better feel for the "pulse" of bitcoin users than your 99.9% estimate, which (forgive me) strikes me as being detached from reality.
- wonderwonder 6y agoThey do, but is the stock an actual tangible good? Companies with identical financials are not valued the same way. Look at a company like Tesla, its stock is pure speculation. I cannot physically hold my stock other than a piece of paper maybe that says I hold it. I cannot really do anything with it except hope to sell it to someone else for more money. It does not really grant me ownership If I tried to walk into an amazon warehouse screaming I an owner, I would be locked up and committed.