Re:Coinbase Halts Operations in Japan
by RosanaAnaDana on Thursday January 19, 2023 @01:55AM
(#34437462)
It's been in vogue for a couple months. The meta issue is that it lost a ton of value as a store. But so did many many stocks. Idk percentage wise how many companies lost a greater percent of their stock value than Bitcoin has in the past year, but we don't call them grifts. I think digital assets and coins are a pretty neat technology, much of the last bubble was solutions looking for problems. But it's how it goes.
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> Idk percentage wise how many companies lost a greater percent of their stock value than Bitcoin has in the past year, but we don't call them grifts.
Companies generally do other things besides being a vehicle for speculation.
Re:Coinbase Halts Operations in Japan
by RosanaAnaDana on Thursday January 19, 2023 @10:18AM
(#34441193)
I mean, so do digital assets. There is plenty of bullshit out there, but when Nikola had a market cap of 14 billion based on someone pushing a hollowed out semi truck down a hill, is that radically different?
I don't see it as radically different. And Nikola still has a market cap of 1 billion. The idea of digital assets, of trustless contracts, its still very very interesting to me. That a bubble formed and popped is more of a 'well of course it would' result to me than something to be feared.
And maybe someday Nikola solves the truck thing and dominates shipping. I don't know.
I think they whining about coins being a vehicle for speculation is puritanical hand wringing. Especially when it comes from the left and is focused on how people, who were quite literally engaged in speculation, lost money.