Re:Citadel's Ken Griffin Says Bitcoin ‘Bubble’ May End in Tears
by ringaroundthetx on Monday November 27, 2017 @04:23PM
(#15791556)
> Bitcoin is different in that its only real use so far is as an alternative bank account.
Only? Thats not true though.
> With companies like TSLA it can be sustainable, as investors believe that future earnings will justify the valuation.
Why do you keep using stock and equity analogies when talking about a completely different asset class that behaves more like a commodity?
So so strange.
What does a "pop" and "doom" mean to you? Bitcoin has swung 90% downwards multiple times and all tearful holders at any point in history have a profit right now. The people that are using bitcoin for more than an alternative bank account will still have uses for bitcoin.
limited supply cryptographic hashes have utility for a variety of reasons at any price to various market participants, just like oil and gold has utility for a variety of reasons at any price.
but yes I can see why that might be confusing when your only valuation model requires revenues and earnings.
Only? Thats not true though.
> With companies like TSLA it can be sustainable, as investors believe that future earnings will justify the valuation.
Why do you keep using stock and equity analogies when talking about a completely different asset class that behaves more like a commodity?
So so strange.
What does a "pop" and "doom" mean to you? Bitcoin has swung 90% downwards multiple times and all tearful holders at any point in history have a profit right now. The people that are using bitcoin for more than an alternative bank account will still have uses for bitcoin.
limited supply cryptographic hashes have utility for a variety of reasons at any price to various market participants, just like oil and gold has utility for a variety of reasons at any price.
but yes I can see why that might be confusing when your only valuation model requires revenues and earnings.