Quote:
Originally Posted by JohnnyB
Not trying to refute your point. You're just not presenting yourself as a legitimate participant in a conversation with any openness to changing your point of view. Waste of time for everyone in the thread that you are so intent on pumping full of your apparently fairly shallow understanding. If you're not open to having an exchange of ideas, you should just leave the thread to people who are.
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I'm not sure what I'm supposed to be open too, crypto's have neither intrinsic value (true of all currency's) nor economic backing, they are worth less than Canadian Tire money if the market collapses and outside of criminal or other illegal uses crypto currency's have no specific reason to exist, assuming you believe an imaginary number actually exists.
You want me to be open to crypto explain to me what the use of crypto's is that no other currency can do, Canadian Dollars can buy you things in Canada, no other currency can do that, therefore Canadian Dollars will always have a use. Where can you spend crypto as a currency without involving exchanging it into something else except in dark web criminal uses?
To me the very success of crypto's rising price is proof of its intrinsic failure, currency's aren't supposed to increase massively in value, currency's aren't an investment, you don't hear anyone ever say 'I wish I'd bought into Dollars last year, I'd be a millionaire now if I had' for the simple reason that that isn't the purpose of a currency, no one trades FX looking for 10 or 20% annual returns on a buy and hold sterling position, you trade FX based on small moves, mostly as a hedge against other markets instability.
Explain to me how you are viewing this as a currency rather than a stock pick as to me you are talking a stock not a currency, I am open to either frankly, if I am missing something then explain, alternatively if the only point of crypto is to make money on its increasing value then own that and stop going on about it being anything more than a form of penny stock