2 ms·
That's not really the same. Investing in some companies adds value to society while "investing" (more like gambling) in crypto does not. For example, some tech
by ChuckNorris89 4y ago
That's not really the same. Investing in some companies adds value to society while "investing" (more like gambling) in crypto does not.
For example, some tech and semiconductor companies, because the whole world benefits from better compute (research for vaccines can be done faster; imaging for medical equipment results in better diagnostics; cars, engines and batteries can be simulated better and made safer and more efficient etc.) The whole world benefits.
"Investing" in crypto on the other hand, added zero value to society, or actually added negative value through the environmental damage being done.
- izzydata 4y agoI'm not really an advocate of proof of work crypto like bitcoin. Proof of stake crypto like Algorand have no environmental damage. There are however way more companies that have caused and will continue to cause environmental damage than bitcoin can ever do in a thousand years. That's not really what is at question here though. It's the concept of a pyramid scheme. The reason the stock market over long periods of time generally trends upwards is because new money keeps being added to it. It's as much of a pyramid as crypto is. That's just how the whole economy is though. Every generation so far has had more people than the last. It will be rather devastating to the stock market and economy whenever that stops being true.