8 ms·
As an asset it sucks because it doesn't represent anything unlike stocks, index funds, real estate, art, magic cards, anime girl statues, antique junk. As a cu
by mnky9800n 3y ago
As an asset it sucks because it doesn't represent anything unlike stocks, index funds, real estate, art, magic cards, anime girl statues, antique junk.
As a currency it sucks because there's no reason to keep it stable because people treat it like an asset class so why would you want stability instead of growth?
As a technology it's literally a captain planet episode with bitcoin miners being literal villains turning pollution into money.
Like there was that one guy who ordered a pizza with it and that was cool because it was like dominos so a big company was like let's try this new technology blah blah blah. But there's simply not been a reason since to care unless you are trying to make a buck on a new hype train.
And that's the problem. Even if people pump it up to a million dollars a coin or whatever, it still doesn't represent anything. The only reason anyone cares about it is because they think it will make them money. That's it. There's nothing about it that connects what a cryptocurrency is to anything other then it being a cryptocurrency. Even national currencies have a connection to nation states. You believe in the United States ability to keep the dollar stable so you sell your oil in dollars. You believe in Norwegian economic growth so you sell your natural gas in kroner.