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Maybe if he meant less than 5% of miners make money. I could potentially believe this, given the competitive nature of mining. However, as an investment, as of
by pskiba 5y ago
Maybe if he meant less than 5% of miners make money. I could potentially believe this, given the competitive nature of mining.
However, as an investment, as of right now, there is only a span of a few months where if you bought Bitcoin you would not be in the green right now.
- cecilpl2 5y agoJust because an asset is near an all-time high doesn't make it a good investment.
- marcosdumay 5y agoEvery bubble does that all the time until it bursts. Did people find a useful reason to buy Bitcoin already? Something that creates value, instead of hopping to sell higher for the next sucker?
- AuryGlenz 5y agoMy stocks are worthless to me, other than hoping to sell high for the next sucker.
- marcosdumay 5y agoIt's not whether they are useful for you, it's whether they are useful for anybody at all. If they did never and will never pay a dividend or have a buyback, then yes, they are a pyramid. But it was just a matter of thinking a bit about it. Everybody knows what Bitcoin is useful for: cyber-extortion and evading capital restrictions. There are even good reasons for practicing the last one... With that in mind, BTC still behaves like a bubble, but proving it's actually one depends on a quite laborious process of comparing the volumes and estimating how they will evolve.
- plokiju 5y agoCrypto != Bitcoin. There’s a lot of exciting innovation happening in defi and other areas. The argument that crypto is only used for trading is well out of date
- gilrain 5y agoYou’re only in the green if you sell.