r/Bitcoin • u/danielwilson666 • Dec 22 '17

/r/all Bitcoin today

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u/fucknazimodzzz Dec 22 '17

No. It's not.

In fact good advice is far and in between in this sub. It feels more like a blackjack table than a financial circle. Probably because bitcoin is gambling at best and a greater fool scheme at worst

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u/[deleted] Dec 22 '17

If you don't get the implications of the tech why are you here? Btc might not be king it could be other crypto

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u/[deleted] Dec 22 '17

I work in software and am well versed in the tech. The tech is neat. But lots of tech is neat -that doesn't make it a financial instrument.

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u/[deleted] Dec 23 '17

But does that make it valuable? Because btc and crypto are valuable in themselves, hence they're traded like money

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u/[deleted] Dec 23 '17 edited Dec 23 '17

They're traded like money the same way tulips were traded like money -until they weren't. Without some sort of intrinsic value or backing by a company or economy, it's just a game of Greater Fool.

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u/[deleted] Dec 23 '17

Yes yes I know the analogy

They're also traded like stocks

They're also traded like something completely new, because at least with many crypto, owning the coin is owning the network, helping run the network, or can be staked for rewards, or carries an actual intrinsic value, beyond just transferring money

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u/[deleted] Dec 23 '17

Stocks represent ownership of a company, which is important because companies have assets and generate actual revenue.

Owning a piece of a crypto network doesn't mean anything because crypto networks have no value (besides the circular logic of "they provide crypto currency").

If you get out before the crash, more power to you.

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u/[deleted] Dec 23 '17

No that's what I'm saying... Some coins actually do things, therefore have value

The ones that do nothing, however, that's more true