Crypto "Investing" is Inherently Stupid

[6.5PSL]

I feel like people will come to this realization in years to come, but the idea of crypto being an investment really doesn't make sense. A currency is not and should never be an investment. A currency having a positive return is bad as it makes it to where people will not use the currency as you always lose money by spending. The idea of a currency being run like a cryptocurrency is fine but it's very stupid to just think it makes sense for a cryptocurrency to magically grow in value because a bunch of redditors are pumping it up.

 

[Deleted member 6128]

Crypto is just an idea that’s already been completely ruined

It’s fuelled by get rich quick schemes once crypto becomes stable the entire market will die

 

[6.5PSL]

Crypto is just an idea that’s already been completely ruined

Crypto as a concept is fine honestly. Discretely transacting money is fine. Just the investing part makes zero sense.

 

[kramer]

you have low iq and dont truly understand the power of it, its not just a currency

 

[eduardkoopman]

A currency having a positive return is bad

Because you measure it against: dollar, euro, etc...

The question is.
Is it because the dollar, the fiat money sucks?
Or is it because crypto is rising?

It's a bit off both.

But fiat money system now = created to be infaltionairy (drop in value over time). 100 USD from 1975 went a long way in 1975.

Bitcoin is not created to be inflanionairy. the bitcoin supply is fixed.

 

[6.5PSL]

Because you measure it against: dollar, euro, etc...

The question is.
Is it because the dollar, the fiat money sucks?
Or is it because crypto is rising?

It's a bit off both.

But fiat money system now = created to be infaltionairy (drop in value over time). 100 USD from 1975 went a long way in 1975.

Bitcoin is not created to be inflanionairy. the bitcoin supply is fixed.

Well, an unbiased estimator is to just analyze the purchasing power of a Bitcoin, as that eliminates any comparison to the USD. 1 Bitcoin can buy much more now than it could a few years ago. Another problem with "investing" in Bitcoin is that it's kind of ridiculous that your savings can just plummet out of no where. The USD is relatively predictable while Bitcoin could drop 50% in a few months and you're out 1/2 your life savings.

 

[Cali Yuga]

I feel like people will come to this realization in years to come, but the idea of crypto being an investment really doesn't make sense. A currency is not and should never be an investment. A currency having a positive return is bad as it makes it to where people will not use the currency as you always lose money by spending. The idea of a currency being run like a cryptocurrency is fine but it's very stupid to just think it makes sense for a cryptocurrency to magically grow in value because a bunch of redditors are pumping it up.

yes its stupid but everyones stupid so it will succeed anyway

 

[Harold O'brien]

A currency is not and should never be an investment

why not? have you heard of Forex market

A currency having a positive return is bad as it makes it to where people will not use the currency as you always lose money by spending.

But that's just speculation. In general people will spend when they think the currency has reached a fair value or the utility they get from a purchase now will exceed purchases in the future worth a greater amount.

 

[Cretinous]

Bitcoin is an interesting but failed tech that is being kept alive like a zombie by tether funny money and mass delusion for the purposes of running the largest Ponzi in human history, which like all Ponzis, can go on a hell of a long time - far longer than you'd ever expect - but it is a certainty it will simply implode one of these days. The rest of the crypto space isn't even worth talking about, a series of blatant frauds and scams, millennials love to criticize boomers but I guarantee history will look back on millennials as the most morally bankrupt and deceitful generation ever.

 

[Cretinous]

Bitcoin is an interesting but failed tech that is being kept alive like a zombie by tether funny money and mass delusion for the purposes of running the largest Ponzi in human history, which like all Ponzis, can go on a hell of a long time - far longer than you'd ever expect - but it is a certainty it will simply implode one of these days. The rest of the crypto space isn't even worth talking about, a series of blatant frauds and scams, millennials love to criticize boomers but I guarantee history will look back on millennials as the most morally bankrupt and deceitful generation ever.

 

[reborn]

I feel like people will come to this realization in years to come, but the idea of crypto being an investment really doesn't make sense. A currency is not and should never be an investment. A currency having a positive return is bad as it makes it to where people will not use the currency as you always lose money by spending. The idea of a currency being run like a cryptocurrency is fine but it's very stupid to just think it makes sense for a cryptocurrency to magically grow in value because a bunch of redditors are pumping it up.

True but these days Tesla is 10 times more valuable than Volkswagen while Volkswagen has 10 times more revenue than Tesla...So the value of investment assets is nothing but a meme anyway.

 

[Chad69]

Its like a gambling addiction but instead of gambling you yeal:I DiD reSeARch bR0!!!!tO tHE m00n

 

[6.5PSL]

Its like a gambling addiction but instead of gambling you yeal:I DiD reSeARch bR0!!!!tO tHE m00n

Yeah, I wonder if there will be a big "happening" or it will be a slow die out of stupid speculative assets and forms of predicting asset classes, including NFTs, Cryptocurrency investing, "technical analysis chart reading", among other things.

 

[Cretinous]

Yeah, I wonder if there will be a big "happening" or it will be a slow die out of stupid speculative assets and forms of predicting asset classes, including NFTs, Cryptocurrency investing, "technical analysis chart reading", among other things.

Bit of both I think. Tether/bitfinex will eventually get busted, and without tether funny money and wash trading artificially inflating the price of BTC it will tank not only BTC but the entire market.

But also I think the coming years will have a lot of economic instability and rising interest rates means people simply won't have money laying around to spend on stupid shit which will choke the market out much more slowly. I don't think crypto will ever "die" but it's certainly long overdue for a shakeout of "projects" that are either naked scams or laughably useless additions to a wheel.

 

[Edgar]

Bit of both I think. Tether/bitfinex will eventually get busted, and without tether funny money and wash trading artificially inflating the price of BTC it will tank not only BTC but the entire market.

But also I think the coming years will have a lot of economic instability and rising interest rates means people simply won't have money laying around to spend on stupid shit which will choke the market out much more slowly. I don't think crypto will ever "die" but it's certainly long overdue for a shakeout of "projects" that are either naked scams or laughably useless additions to a wheel.

Have you watched Max Maher on YouTube?

 

[NodiN]

for an average joe today , yes.

but for an old time holder AND ESPECIALLY for the one running the "HOW TO GET RICH WITH CRYPTO 101" paid lesson /tutorials gurus , its money farming sessions