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Does it matter? That's (mostly, in terms of its value) true of gold too for example. I'm not a BTC/cryptocurrency fan or proponent (though I read the paper, wa
by OJFord 3y ago
Does it matter? That's (mostly, in terms of its value) true of gold too for example.
I'm not a BTC/cryptocurrency fan or proponent (though I read the paper, was interested, mined as it was profitable at the time, and still hold some just as ~part of a diverse portfolio~ FOMO) but it's here, it exists, people can and do profit from it or store their wealth there - more volatily than gold, historically, sure, but it's not completely stupid and it's clear at this point it's not going to just go away.
- ffgjgf1 3y agoYes for the most part in the modern economy gold is also a non productive speculatory asset/token just like bitcoin.
- npoc 3y agoSpeculating on what exactly?
- junofan 3y agoPrice movements. The CFTC’s old educational site was pretty solid: https://web.archive.org/web/20120813061455/http://www.cftc.gov/ConsumerProtection/EducationCenter/index.htm https://web.archive.org/web/20120813061455/http://www.cftc.g...
- npoc 3y agoEverything moves in price due to people trading it, so in that sense all assets are speculative. And housing for example is non productive.
- ffgjgf1 3y ago> And housing for example is non productive. That’s not strictly true (I’m pretty rented housing fits the definition of a productive asset) and certainly not true at all when compared to bitcoin or gold
- npoc 3y agoAre you classifying it as productive because you can receive compensation (rent) for lending someone your house? That's true for all property. In the case of money (which includes bitcoin and gold), it's called interest.