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What reality did I alter? Bitcoin's current value is *completely* irrational and absolutely unjustified. When it had some prospective future, sure some tenuous
by llm_nerd 3y ago
What reality did I alter? Bitcoin's current value is *completely* irrational and absolutely unjustified. When it had some prospective future, sure some tenuous argument could be made, but now it's basically NFTs -- people collecting worthless things, with so little real (not wash) trading that for a while the illusion holds on. That's the sham. In the same way that GameStop or BedBathandBeyond didn't become retail powerhouses because a bunch of WallStreetBets sorts aped it.
You seem to be under delusions that a given niche market is demonstrative of much at all. Crypto was the future. Now it's, for all intents and purposes, dead outside of crime, but as long as there are HODL sorts it can keep up the pretend value.
- jrm4 3y agoA lot of "real" companies are investing in it; which by definition makes it no better or worse than ANY OTHER SPECULATIVE THING. Basically "that's, just like, your opinion, man."
- llm_nerd 3y agoWhat real companies? Tesla did at the spurring of Musk, and then quietly dumped all of it. A few other "investment" companies occasionally make some statement that amounts to a pump and dump. >it no better or worse than ANY OTHER SPECULATIVE THING Bunching everything together as "speculative" doesn't somehow make them equal. Buying land is not the same as buying an NFT. Buying shares in a bank is not the same as buying Bitcoin. Bitcoin's entire history has been crime and fraud. It temporarily duped the mainstream, but having conned main street it has returned to its crime roots.