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> Idk percentage wise how many companies lost a greater percent of their stock value than Bitcoin has in the past year, but we don't call them grifts. Companie
by tpxl 4y ago
> Idk percentage wise how many companies lost a greater percent of their stock value than Bitcoin has in the past year, but we don't call them grifts.
Companies generally do other things besides being a vehicle for speculation.
- RosanaAnaDana 4y agoI mean, so do digital assets. There is plenty of bullshit out there, but when Nikola had a market cap of 14 billion based on someone pushing a hollowed out semi truck down a hill, is that radically different? I don't see it as radically different. And Nikola still has a market cap of 1 billion. The idea of digital assets, of trustless contracts, its still very very interesting to me. That a bubble formed and popped is more of a 'well of course it would' result to me than something to be feared. And maybe someday Nikola solves the truck thing and dominates shipping. I don't know. I think they whining about coins being a vehicle for speculation is puritanical hand wringing. Especially when it comes from the left and is focused on how people, who were quite literally engaged in speculation, lost money.