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You're still wrong. The issue here isn't crypto, it's centralized entities which act similar to banks. It also failed because user money was stolen and mismana

• TremendousJudge 4y ago
  I'd say the difference with the stock market is that that the bottom of it is composed of companies that produce and sell actual, tangible products: cars, planes, oil, computer software, construction materials, etc. All financial instruments (legitimate or not) are built on top of this. You buy into some index fund under the assumption that, on some level, you're putting money into the production of goods and services. Meanwhile, the "crypto market" deals only in hype all the way down. There are no goods and services produced (unless you count "hype"), only dollars going in one end and coming out the other. If I put my dollars in some "crypto investment", it's only so that some early adopter with 50000 btc can get some dollars out. The rest is misdirection.
• twblalock 4y ago
  > It also failed because user money was stolen and mismanaged by hugely incompetent 20 year olds, not because it was invested in crypto. Ah, but you repeat yourself! Almost every actor in crypto is an incompetent 20-something, or an intentionally criminal 20-something. Exchanges like Coinbase might be the "good guys" but when the assets they let you exchange are inherently worthless magic beans and many of them are intentional scams, it's hard to justify the stock market analogy.