I'm a big fan of crypto but at least the idea of passing the hot potato til it crumbles in to nothing is a reasonable worry. Every stonk has that same exact issue.
Re:Bitcoin falls under $16,000
by AnimalMuppet on Wednesday November 09, 2022 @10:05PM
(#33541679)
Well, no, some stocks actually have value, because there's a money-making company behind the stock. (Or are you using "stonk" to refer to a stock that has a money-losing company behind it?)
I read it as stonk to mean stock that would be a bad decision to put money in at any time (not just because it is overvalued at this time). Like GameStop.
A lot of cryptocurrencies are part of projects that I believe in. I see the code, see commits, discussions, details of the project being used in the wild. I don't blame the people behind the project for ridiculous fluctuations in their coin's price or blind hysteria in the space.
Bitcoin's project is that it's a collectible with limited supply.
Re:Bitcoin falls under $16,000
by imtringued on Thursday November 10, 2022 @02:08AM
(#33543220)
Strangely enough RAI doesn't need to be excessively volatile. It just happens to be the least volatile cryptocurrency in existence.
I wonder why that is...
https://en.wikipedia.org/wiki/Greater_fool_theory