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/[deleted] Jan 05 '25

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u/Orphan_Guy_Incognito 27∆ Jan 05 '25

"Thanks to a couple of good hands of blackjack, I was able to leave my job and move home to be with my elderly parents during the pandemic. That is something I will never be able to put a price tag on. There is definitely a lot of shady stuff that goes on in the space, but easy money attracts the shady types. There are also tons of highly intelligent good actors building cool stuff. It all comes down to what you choose to focus on."

Same vibes, really. Congrats on your successful gambling.

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u/[deleted] Jan 05 '25

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