DarkRange55
π
- Oct 15, 2023
- 2,421
I've been debating posting my thesis on these two subjects but before I poke the hornet's nest, l'd like to what all of you think 
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sserafim
they say it's darkest of all before the dawn
- Sep 13, 2023
- 9,013
DarkRange55
π
- Oct 15, 2023
- 2,421
It's a highly speculative asset. Stocks are for buying shares (ownership) in companies. Crypto depending on the one in question, is designed to serve different purposes: execution of smart contracts, decentralized banking to act a currency, pump and dumps, ect.
sserafim
they say it's darkest of all before the dawn
- Sep 13, 2023
- 9,013
I thought that people traded crypto like stocks though. Some people made a buck off of Bitcoin
DarkRange55
π
- Oct 15, 2023
- 2,421
People can make money speculating on any asset. Commodities, stocks, bonds, options, fine wine (there's even wine funds), artwork, precious metals, land, ect. See tulip mania:
Trading is different than investing. Some cryptos were made simply to capitalize on the hysteria.
Tulip mania - Wikipedia
en.wikipedia.org
NFT's purpose is to prove digital ownership on the blockchain.
Dliena
ππ πΌπππππ π½π. 43,53?
- Dec 22, 2023
- 1,888
None they're scammy scummy greedy fad that needs to die already.
DarkRange55
π
- Oct 15, 2023
- 2,421
On a large scale - absolutely
it's a scam.
On a small scale - Cryptocurrency transactions typically have lower fees compared to traditional financial systems. This makes micropayments and cross-border transactions more cost-effective. Plus cryptocurrency transactions can often be completed within minutes, eliminating the need for lengthy settlement processes of traditional banks or financial institutions. This is useful for cross-border transactions and instant payments.
But in the end, you want dollars or whatever your national currency is to actually buy things so you have to convert back and it's so volatile.
Yes, I agree with you.
NFT's have some potential pragmatic uses but it's also a garbage "asset."
Admittedly I've made some money off of trading them when I've seen opportunities and I've had some bitcoins for many, many, many years long before the hype.People can make money speculating on any asset. Commodities, stocks, bonds, options, fine wine (there's even wine funds), artwork, precious metals, land, ect. See tulip mania:
Trading is different than investing. Some cryptos were made simply to capitalize on the hysteria.
Tulip mania - Wikipedia
NFT's purpose is to prove digital ownership on the blockchain.Last edited:
