Quote:
Originally Posted by ahab11
Is trading CP minutes a form of Crypto.....NO but they prefer it versus toting around cash and banks/ATM cards are not realistic for a majority of folks in third world countries.
Stock Markets are extremely volatile right now with allot of profit taking so lets see where that cash flows as letting it sit in cash regardless of interest rates or bond yields with monthly increases in M2 is not going to end well for investors.
|
I get the idea that crpto is something of an alternative currency. A clumsy proxy, but currency nevertheless. What I don't get is why that makes crpto investable as an asset with profit potential. Crpto doesn't produce goods or services, doesn't pay interest or dividends from accretive earnings. And it is subject to major legislation that could squash the pereceived value it has.
Remember when Elon Musk posted that pic of a Doge Coin, and the next day its value sky rocketed? That simple post and buying frenzy made Gamestop's moves look lethargic.
Bitcoin is down 24% this year? Why is that?
Because it's a risk asset. People see the NASDAQ tanking, and realize their Bitcoin has no intrinsic value, just like the high multiple Tech stocks, where the underlying company was selling at 100 times sales, but had never earned any money.
Even some analysts are shocked that Bitcoin is collapsing. They think Bitcoin is a hedge against inflation, for some reason. They can't explain why they think it, but it is just assumed to be.
I hope someone in this thread will offer a coherent reason why Bitcoin (or other crypto) is a solid investment. And will tell us why Bitcoin collapsed a few years ago, when it was then touted as the great new investment theme. Why is it different in 2022, after the near total collapse in 2018?
