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I don't think your link shows perspective, it's just huuurah from the crypto gang. It's well known that bitcoin, and crypto as a whole, have and will likely co
by deeviant 5y ago
I don't think your link shows perspective, it's just huuurah from the crypto gang.
It's well known that bitcoin, and crypto as a whole, have and will likely continue to demonstrate a boom/bust cycle that will likely continue to excite the get-rich-fast-crew for some time to come. But people are mostly pointing out that bitcoin is not the equity hedge many hoped it would be, it's not an independent thing apart from the vagaries of the market.
To me, perspective on bitcoin would mean seeing that it isn't the revolutionary thing it's sold as. It's not freedom money, it's not the way to stick it to the financial industrial complex, and it's not a safe harbor asset. It's only really good for one (legal) thing: speculation. It seems like the vast majority of bitcoin transactions are either people speculating on it or criminal in nature. And it uses more power than the entire country of Sweden. Maybe another coin in the future will address cryptos problems, but I haven't seen it yet, eth isn't it.
I own some cypto, because it's fun. I watch numbers go up or down, but the money I put into it is already in the written-off-but-will-be-nice-if-pops category. That's perspective. You have people taking out loans to buy bitcoin or even just putting a significant amount of their portfolio in crypto, that is not perspective.