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This is a lot of theory leading up to a not-so-interesting conclusion. Of course USD is the dominant currency right now, and things tend to be priced in terms o
by ______-_-______ 5y ago
This is a lot of theory leading up to a not-so-interesting conclusion. Of course USD is the dominant currency right now, and things tend to be priced in terms of the dominant currency. But that doesn't mean people "don't care" about other financial instruments. Imagine swapping the word "crypto" for anything else:
> Strong evidence that no one cares about VTSAX-denominated wealth
> So in the end the market is clear: when money is on the line, people value their wealth in fiat, not VTSAX.
You bet I care more about the number of dollars I have than the number of shares of VTSAX, but that doesn't take away from the value of VTSAX.
- mdoms 5y agoVTSAX has never been promoted (much less invented) as a currency and cash equivalent. VTSAX has never been promoted as the future of spending.
- Spivak 5y agoI mean really neither is crypto at this point. When was the last time you saw people promoting crypto as a thing you use to actually buy arbitrary things instead as asset you can turn into $LOCAL_CURRENCY? Crypto projects all seem to be using $COIN as a token you must purchase in order to access some resource on the network (Gas/Storage) or as a currency swap / investment (Bitcoin). Edit to everyone downvoting but not commenting -- name one. Name a crypto of any real success where the endgame is average joe being able to walk into starbucks and pay for his coffee with it.
- deleted 5y ago[deleted]
- loeg 5y agoNo one is advocating for Tesla to take payment in VTSAX shares.
- Kletiom 5y agoIt looks to me that vtsax is representing the value of companies who exist. I would not compare.this to crypto