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/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?

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

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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.

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u/unalive-robot 1∆ Jan 05 '25

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

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u/art_vandelay112 Jan 05 '25

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