Re:Crypto crash deepens, stocks slip
by thehappypm on Wednesday May 19, 2021 @12:51PM
(#27211226)
The drug dealer argument is the only actual use for bitcoin out there. How exactly does a dirt-poor Venezuelan acquire BTC to trade?
2/ a lot of people are acutally using it as a store of value / currency: from drug dealers to people in states with failed economy such as venezuela or turkey, to chinese people wnating to somehow escape the system.
3/ btc is a gateway currency to other more useful currencies surch as eth / monero / zcash
4/ How is the "no profits / revenue" makes any sense for pricing a financial object in 2021 where amazon for example literally never ever gave a dividend to the shareholder, meaning, whatever you say, that people holding amazon stock are doing it ONLY for speculation of the "perceived value" of the price ?
In the end, btc is not that much more a "baseless asset" than most of the stock market currently.