Two ways to make a name for yourself these days:
* crypto
* talking sh*t about crypto
Crypto is at a low point right now. If you time it right, it's like reporting that investing in the stock market is bad after the '08 recession.
Crypto is at a low point right now. If you time it right, it's like reporting that investing in the stock market is bad after the '08 recession.
It relies entirely on someone else coming along later and paying more. It’s not a productive asset in any meaningful way.
Yes, just like any part of the economy. Scarcity and/or productivity is why someone pays: either something, or more for it.
If it's BTC, the theory is it will be scarce, like gold.
If it is one of the other crypto coins, it has to be productive like e.g. this app enabling sharing internet with others.
This is what you are investing in when you buy a stock. The numbers-go-up of the stock market is both directly (through stock buybacks) and indirectly (through expectations of future dividends) a consequence of this productive activity, not just greater fools.