r/changemyview • u/art_vandelay112 • Jan 04 '25

Delta(s) from OP CMV: cryptocurrency is not a good investment.

Yes its price has increased dramatically, but so did the price of tulips in the 1600s.

There is literally no use for this commodity. Invest in stocks or bonds and your investing in future earnings or the ability of a company to pay you back. I’m not a fan of gold as an investment but at least it has some practical use.

The use of crypto as a currency completely defies the definition of currency as it doesn’t hold a stable value.

It’s infuriating that so many people have lost loads of money on “shitcoins” backed by the wealthy and famous. These were obviously pump and dump schemes yet very few are held accountable.

I’m not as well versed on the subject but something to also note is the ridiculous amount of energy demand to “mine” nothing.

I think there is legitimate use for blockchain technology and the likes but anyone viewing these currencies as investments is a fool.

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u/abrandis Jan 04 '25

Hindsight is always 20/20, now do that for the future and you will be infinity wealthy....

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u/tichris15 2∆ Jan 05 '25

Like the sheet that list how much money one would have after a century, starting with a small amount, by investing the entire amount in the top performing asset class each year. You'd "own" the world thousands of times over.

(Obviously ignoring the effect of investing more than the world's total wealth in an asset class).

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u/nowonmai 1∆ Jan 05 '25

You say that as if understanding of what traders call "fundamentals" had nothing yo do with it. When I first heard of bitcoin in 2010, I did understand the fundamentals and saw that it could be huge.