Who says it’s not gambling? Right now is nothing like 2001 or Dotcom though imo.
Those two at least recognized that this planet is not going to be enough for all of us, at the rate we’re destroying it.
True, it’s even worse than 2001.
I think BTC/ETH and MJ stocks are very good investments right now.
I think they were great investments in 2009 (BTC)
BTC was and still is. Most MJ stock were horrible the last two years though; trust me…
To be fair, it is far, far worse right now. The velocity of money is approaching that of the 1870s era and it is crushing the working/middle class.
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We’ll see… circumstances are very complex right now and there is no telling what will happen next.
I’m sceptical that Crypros have an intrinsic value, as in if they can really be a store of value. OTOH, they present a great prospect for breaking central banks’ monopoly on the issue of currency, and for decentralisation and localised economies. That monopoly was maybe justifiable when currencies were tied to gold, but when they can just “print” however much they want, it’s a con from which less than 1% profit.
The origins of BTC are murky - who are the whales? In hindsight will BTC be compared to the Tulip Mania in 17th Century Holland? Of course I don’t know. In any case, hope/belief is not an investment strategy
I can’t think of a single investment that hasn’t relied on some hope/belief.
Elon Musk is rich in most part coz he’s a contractor for US agencies, including NASA.
As for Tesla cars, the big/traditional producers will probably leave Tesla in the dust. With Tesla cars, I see parallels with DeLorean
I actually think Tesla will do more for energy than automobiles. I’m not invested at all in Tesla right now though.
I get you. But let’s say you see a prospective startup producing innovative lighting systems, or a range of synths 
, then you may invest based upon a conviction that that company will generate value through enterprise, labour, innovation and production. Cryptos, like FIAT essentially produce nothing. Thus it’s pure speculation. In the traditional sense, when you “invest” in a company, your invested money finds its way to given company, supplying credit to expand. In short, there’s a big difference between speculation and investment.
I seriously doubt it’ll be Musk who cracks nuclear fusion.
It takes actual energy for BTC to exist, and I believe storing value on the blockchain is a very important function which makes BTC much more than nothing.
I also believe that besides Tesla’s recent 1.5 billion dollar investment into BTC, the institutional support from Square, PayPal, Visa/Mastercard, BNY Mellon, BlackRock, JP Morgan, Morgan Stanley, etc. makes BTC a legitimate investment.
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Very valid points. But maybe the big banks (establishment) are setting up BTC to fall?
Dollar supremacy is essential for Fed money printing ad infinitum. TPTB can’t afford to allow institutional investors to “invest” in BTC
Fall, rise, fall, rise… yes, I agree with that
I believe that the blockchain is useful technology. Ultimately I think the tech will be used by governments/central banks to provide security to flows of national currency.
But that’s not Bitcoin.
As for the institutional investors – they’re as desperate for yield as everyone else. Their entry pushes the price up and comforts the bulls, but they will bail before the retail hodlers once things get hairy. It’s just another game of chicken – no one wants to bail early, but even less do they want to be the last ones out the door. But someone has to be.
It’s happening: see China, BIS. For me the question is, will the technocracy (be able to) cut the wires on “unsanctioned” crypto initiatives?
Governments can’t destroy non-state cryptocurrencies, but they can make them very annoying to use, to the extent that they won’t dominate currency use. There’ll be edge cases, like countries where the national currency is collapsing completely.
So long as governments can demand tax be paid in their currency, and that government workers get paid in their currency, they have a lot of leverage.
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