Re:Bitcoin Plummets Below 40K
by selfhoster11 on Wednesday May 19, 2021 @06:48AM
(#27206852)
How is this different from fiat currencies and stocks? Those go up and down all the time for no reason, or at least for irrational reasons. There's no reason why Bitcoin and other coins couldn't mature into a more stable up/down cycle to mirror those.
[ Parent
| on HN ]
Fiat has central banks to keep them somewhat stable.
Stocks have companies who are producing actual value.
Re:Bitcoin Plummets Below 40K
by selfhoster11 on Wednesday May 19, 2021 @07:21AM
(#27207086)
> Fiat has central banks to keep them somewhat stable.
That's part of my point. Fiat had decades to stabilise, digital currencies are basically newborns so it's not fair to expect them to pop out already matured and stable.
> Stocks have companies who are producing actual value.
Unless they don't (or their value is decoupled from meme/insider manipulation that artificially controls their prices), like GME or Tesla.