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Remind me what is the point of holding cryptocurrency again?
by civilized 4y ago
Remind me what is the point of holding cryptocurrency again?
- yreg 4y agoA. speculation B. diversification against more tradional assets C. store of value if you don’t have access to any better financial instruments D. keeping some ready on hand to pay off ransomware attacks
- brink 4y agoE. Learning what it's like to be dumped on
- lexapro 4y agoSo far it worked out pretty well
- civilized 4y agoAll except maybe D also apply to Pokemon cards
- AlexandrB 4y agoRegarding B, Is there any evidence that BTC is countercyclical? It seems to have followed the conventional market down over the past week.
- vmception 4y ago> It seems to have followed the conventional market down over the past week. Bitcoin would be $3 per Bitcoin if it only correlated to the NASDAQ over the last 10 years It does its thing
- yreg 4y agoWell it of course doesn't corellate S&P 500 1:1, so it provides some diversification (same as everything else). Gold has been down over the past week as well, it is normal for all instruments to move together at times of uncertainty (and when many folks are getting margin called).
- mattwilsonn888 4y agoHaving a Coinbase account with funds on it is not holding crypto-currency. Everyone who knows anything has been saying since before Coinbase was around "not your keys, not your coins." If you use an uninsured bank as your vector for understanding the benefits of cryptocurrency you're bound to stay confused and continue making non-arguments dependent on poor price performance of the asset you irrationally despise because despite your technical background you still missed out on it.