Earlier quoted context omitted.
>The price of a (non-dividend-paying) stock is set strictly by supply and demand. I don't understand what you're arguing against. First there are plenty of stocks that do return dividends (or do stock buybacks which are equivalent). Second, pricing may be suboptimal, maybe non-dividend stocks should be worth less[1] but it's still pricing something . Bitcoin is just pricing digital gold. You're also going into the pa…
I agree printing money != printing wealth, in fact it has the exact opposite effect, it debases wealth. My argument is against the fallacy that since bitcoin's price is set by unregulated supply and demand, it has no value or is somehow less valuable than land or stocks, or is somehow intrinsically value-less. Bitcoin can be seen as the most credible implementation of pure Austrian price theory (notwithstanding some…
> At any rate, Bitcoin/Ethereum and others are fundamentally new asset classes, they are technologized money. They allow you to do things with value that were never possible before.
This is too breathless to be meaningful. Care to name a few actual uses? There's a long way still for cryptocurrencies to demonstrate they actually bring anything of value to the table. From what I've seen so far Bitcoin may be a slight improvement on gold (an asset that's mostly useless these days) and Ethereum may be a slight improvement on complex financial instruments (things that are often actively harmful). I may be completely wrong of course, time will tell.
Most people that evangelize cryptocurrencies would probably be a lot better served by reading up on the basics of investing and start accumulating traditional baskets of assets. There's a long way to go before cryptocurrencies are validated as actually useful and a lot of risk along the way.