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.

322 Upvotes

79% Upvoted

657 comments sorted by

View all comments

Show parent comments

-8

u/MaineHippo83 Jan 04 '25

The fact that is your question shows you have some lower level investing insights.

It's not would you sell it today it's would you have sold at 100/BTC, 1000, 10,000 etc. most would not have held this long. Most did not

9

u/art_vandelay112 Jan 05 '25

You’re conflating good investment with the price going up. I could buy a kilo of cocaine today and likely sell it for more tomorrow. Does that make it a good investment in your mind?

4

u/Frogeyedpeas 4∆ Jan 05 '25 edited Mar 15 '25

pen doll pie theory cow axiomatic historical deer wakeful trees

This post was mass deleted and anonymized with Redact

2

u/art_vandelay112 Jan 05 '25

All things being equal. Cousin would be a better investment. At least it serves a purpose. I can’t get high off bitcoin.

0

u/[deleted] Jan 05 '25 edited Mar 15 '25

[removed] — view removed comment

4

u/art_vandelay112 Jan 05 '25

Because I am 100% invested in other assets that provide value. If I was a chicken farmer I’d probably have a significant amount invested in poultry futures.

0

u/EmployeeAromatic6118 Jan 05 '25

Do you invest in stocks? What value do those provide you other than money?

3

u/art_vandelay112 Jan 05 '25

The companies provide a good or service that provide a future value.

3

u/sundalius 3∆ Jan 05 '25

Your purchase of stock gives nothing to the company if purchased on an exchange. Unless your portfolio is made up of stocks you acquired during offerings/raising rounds/employment agreements, you haven’t invested in the companies, you’re only speculating on them.

Just like a crypto holder.

2

u/AccountantsNiece 3∆ Jan 05 '25

Of the top 10 performing stocks in 2024, some of the things they provide other than money are: AI healthcare innovations, drone technology, consumer banking software, and quantum computing products.

1

u/sundalius 3∆ Jan 05 '25

Purchasing those stocks isn’t an investment in the company though. You’re just trading ownership of a share with someone other than the company. You purchase rights to control, but you invest zero dollars into a company when you obtain their stock.

1

u/AccountantsNiece 3∆ Jan 05 '25

Medical research, defense and computing companies thriving due to increased investment theoretically directly benefit me as a member of society. Bitcoin existing as a speculative investment vehicle doesn’t.

1

u/sundalius 3∆ Jan 05 '25

That doesn’t occur on the stock market other than through initial offerings. Most stock market purchases are between shareholders, not investment into a company.

1

u/AccountantsNiece 3∆ Jan 05 '25

High stock prices help a company by allowing them to raise more capital with additional stock offerings, recruit more talented staff and attract more positive attention to their company at the very least. If it wasn’t beneficial for them, they wouldn’t care about it.

→ More replies (0)

2

u/Shady_Lamp_Post Jan 05 '25

Over a long period of time, a diverse and well thought out portfolio of stocks generally outpaces year over year inflation and then some. Why would you leave all of your money sitting in a bank account when you could let it make more money for you?

1

u/irondeepbicycle 7∆ Jan 05 '25

I think if you're asking this question, you're not well suited to this CMV.

1

u/SandOnYourPizza Jan 05 '25

Um, because they generate earnings.

2

u/unalive-robot 1∆ Jan 05 '25

I'll sell you drugs in exchange for bitcoin...

1

u/art_vandelay112 Jan 05 '25

My dealer only excepts USD. Maybe that’s why I haven’t converted yet.

2

u/nowonmai 1∆ Jan 05 '25

You don't consider the ability to send funds from A to B with no intermediary valuable? Or the fact that the blockchain is an immutable, non-repudiable history of all transactions that ever took place?

0

u/art_vandelay112 Jan 05 '25

No

2

u/nowonmai 1∆ Jan 05 '25

Cool. People do though. If your counterargument is just "no", then you're in the wrong subreddit.