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Speculators buying from speculators and hoping today isn't the day the hot potato explodes.
no, but I am using my index fund on s&p 500 to buy goods and services
It’s the difference between owning a farm and a gold bar.
how you guys interpretate all this price swings with barely no trade volumen increase? i think the whole crypto narrative it's slowly dying, okay its ATH now, but yeah, we still got this huge elephant in the room called tether and well u know
"Crypto is dead, that's why it's more valuable than ever"
So I suppose people must use it all the time to buy goods and services. Right?
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Gold is used to make things. You can argue what its value should be as a material alone, but it’s not entirely speculation.
Crypto can be used as a store of wealth when crossing borders preventing search and seizure of your wealth against overzealous governments. See Russia in the early 90s which would regularly search and confiscate cash from people leaving. That alone makes it very valuable.
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no, but I am using my index fund on s&p 500 to buy goods and services
Dividends provide a real income stream people live off of, bitcoins need buyers. It’s the difference between owning a farm and a gold bar.
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The real use case is self defense against the arbitrary devaluation of fiat currency. As wildly imperfect as crypto is at that task, it's the best we have in a fungible, digital form. So pessimistic investors flee to it. The worst case for a crypto investor is for the dollar to be restored to a stable store of value. To outcompete crypto, just whip inflation.
How well do investors understand the underlying network of computers required to maintain the public ledger and the trust and integrity of the digital currency, though? Until nation-states fund and invest in the infrastructure, finding your confidence in cryptocurrency with little to no regulation is a massive risk.
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https://mitsloan.mit.edu/sites/default/files/2022-06/Bitcoin... > illegal transactions, scams and gambling together make up less than 3% of volume.
In other words almost all of the actual transactions, since the other 97% is almost purely speculation.
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Dividends provide a real income stream people live off of, bitcoins need buyers. It’s the difference between owning a farm and a gold bar.
There are plenty of companies whose stock is sought after but that never paid dividends (I think Tesla and Amazon are some example, or used to be at least)
A person mentioned that Bitcoin is heavily used for money laundering and similar activities. How authentic is this, and does it affect rates, like what's happening right now?
https://mitsloan.mit.edu/sites/default/files/2022-06/Bitcoin... > illegal transactions, scams and gambling together make up less than 3% of volume.