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This can also be applied to the stock market as it is used today, the majority of people don’t care about dividends or voting rights, only the price, with compa
by tarsinge 5y ago
This can also be applied to the stock market as it is used today, the majority of people don’t care about dividends or voting rights, only the price, with company earnings serving the sole purpose of predicting the future price at the expected time of selling to another person. Crypto is just the end game of that behavior where it’s not hidden.
Edit: also apart from making us question theses behaviors in other markets if that speculating behavior is bound to exist then at least it’s relatively harmless compared to doing that with real estate or commodities like food or water. Better that bank exec making that with dogecoin than other real stuff.
- rich_sasha 5y agoCompanies are in general productive goods. An investor may not care about decades of dividends ahead, but they are there. They are paid (in the long term) from value created, not just a FIFO bubble.
- tarsinge 5y agoBut the stock market is a secondary market, you exchange second hand titles, you are not an investor, so my point is that if people are just here to speculate on the value it’s not very different and the underlying doesn’t really matter.
- lottin 5y agoIf you own stock you are an investor who is invested in a business, in exactly the same way that someone who owns a restaurant or some business is invested in that business. There is no difference between owning a stock and owning a business.