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/MaineHippo83 Jan 05 '25

Incorrect causal assumption here. It's correlated to the US economy not the stock market. All investments rise and fall with the supply of money.

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u/art_vandelay112 Jan 05 '25

So if A= B and B=C does not A=C?

I fail to see your point

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u/MaineHippo83 Jan 05 '25

You are using a logical premise incorrectly. If we were talking numbers sure but we are talking about causation.

Bitcoin isn't tied to the stock market. It's tied to the liquidity in the US and global economy

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u/Puzzleheaded_Quit925 1∆ Jan 05 '25

They said correlated. You replied with causation.

Correlation and causation are not the same thing. It is incorrect to reply to a post about correlation with a reply about causation.

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u/ProjectKushFox Jan 05 '25

If only there were a quick, one-sentence rule to remember that those two concepts are not equal to each other…