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civilized·

Remind me what is the point of holding cryptocurrency again?

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A. speculation

B. diversification against more tradional assets

C. store of value if you don’t have access to any better financial instruments

D. keeping some ready on hand to pay off ransomware attacks

E. Learning what it's like to be dumped on

So far it worked out pretty well

All except maybe D also apply to Pokemon cards

Yes, so what?

And to stocks, real estate, gold, ...

Regarding B, Is there any evidence that BTC is countercyclical? It seems to have followed the conventional market down over the past week.

> It seems to have followed the conventional market down over the past week.

Bitcoin would be $3 per Bitcoin if it only correlated to the NASDAQ over the last 10 years

It does its thing

Well it of course doesn't corellate S&P 500 1:1, so it provides some diversification (same as everything else).

Gold has been down over the past week as well, it is normal for all instruments to move together at times of uncertainty (and when many folks are getting margin called).

Having a Coinbase account with funds on it is not holding crypto-currency. Everyone who knows anything has been saying since before Coinbase was around "not your keys, not your coins." If you use an uninsured bank as your vector for understanding the benefits of cryptocurrency you're bound to stay confused and continue making non-arguments dependent on poor price performance of the asset you irrationally despise because despite your technical background you still missed out on it.

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