Re:The Bitcoin Investment Thesis Is Broken
by gonzo41 on Tuesday May 24, 2022 @09:40AM
(#31491949)
Gold is ductile and a good conductor. Outside of it's shiny / jewelry uses it's actually a useful metal. Crypto only consumes energy as a product of it's existence.
[ Parent
| on HN ]
And when the mining stops, all its value vanishes. Value stored on jelly. Bitcoin has a runaway implosion mechanism built in, and no floor on its price except 0.
I bet there's a lot of people who've bought bitcoin on leverage. Bitcoin may go to zero and it'll cost a lot of money on it's journey there.
Re:The Bitcoin Investment Thesis Is Broken
by xyzzy4747 on Tuesday May 24, 2022 @10:14AM
(#31492389)
If you owned all the gold in the world, you would have a hard time getting trillions of dollars out of it.
I agree, it's value is also speculative. I'm just making the point that it can be useful in it's own fundamental self.
Re:The Bitcoin Investment Thesis Is Broken
by dubswithus on Tuesday May 24, 2022 @10:41AM
(#31492746)
It's not important enough to justify the valuation. I believe that was GP's argument.