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This argument is as old as cryptocurrency. Is collecting baseball cards as an investment pump and dump? Lots of people buy cards they expect might go up and the
by EasyMark 2y ago
This argument is as old as cryptocurrency. Is collecting baseball cards as an investment pump and dump? Lots of people buy cards they expect might go up and then sell the later. Same with real estate. So no it’s not pump and dump, lots of people have made a legitimate fortune on it. Others well they pwned themselves. It’s kind of like realizing the stock market isn’t much more than a casino unless you buy vanguard 500 for the long haul, well crypto is similar.
- mattmaroon 2y agoBaseball cards are a great analogy. Yes, they have been pump and dumped. They also started off seeming valueless, became very valuable, and once people realized they could have made a lot of money from them, the market was flooded and people stopped throwing them out and its now been many decades since you could realistically profit from anything new. That’s about what I expect bitcoin will look like in the future. (Kind of already does.) If you bought them in the early days you made a fortune, now they’re mature and they’ll never rapidly appreciate again. Real estate has intrinsic value. Companies have inventive value (usually). Both of them can be used you give you a return even if you don’t sell.