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> Bitcoin, down more than 40% from its October peak, is now “exposed as a completely speculative asset.” “Now”? No; it’s always been a speculative asset. The o

> Bitcoin, down more than 40% from its October peak, is now “exposed as a completely speculative asset.” “Now”? No; it’s always been a speculative asset. The only folks who didn’t think that were those who didn’t know any better.

JumpCrisscross 9mo ago
To drive home the ridiculousness of this, Bitcoin traded around $126k in October. It’s now at $60k. Even if it recovers, that’s an 87% annualized loss. That’s a 669% inflation rate.
- caminante 9mo ago
  If you want the snark to go to 11, checkout /r/buttcoin.
  - malshe 9mo ago
    Excellent recommendation! The top post right now is "Bitcoin just hit $66,000. Strong support at $0."
    - caminante 9mo ago
      The one that got me was the RETIREMENT wealth advisor who advised people to plow into MicroStrategy and arrogantly bragged about only needing 100 hours to pick the stock.[0] > That said, as a Wealth Advisor, I do NOT recommend clients investing in the stock if they are not willing to do the requisite 100+ hours of studying Bitcoin before yet another 100+ hours studying MicroStrategy. Ouch! [0] https://www.reddit.com/r/Buttcoin/comments/1qx2qs2/photos_taken_moments_before_disaster/ https://www.reddit.com/r/Buttcoin/comments/1qx2qs2/photos_ta...