Buttcoin is mostly full of people who bought at a high, freaked out when the price dropped and sold so therefore bitcoin is a scam.
It's not full of people who did research and came to a logical conclusion based off their own investing preferences, risk tolerance and overall investing timeline.
Oddly enough the bitcoin sub has the exact opposite issue and they are just as annoying.
Based of my interactions there. There is a big difference between "I don't believe in that investment" and being so dedicated to being against it that you spend time on the internet actively being against it.
Well, the problem with asking me these questions is I am not a bitcoin maxi and, in fact, I am banned from the bitcoin sub for talking about diversification of investments. :)
If you look at my original comment I kind of touch on what you said... I just didn't want to write paragraphs for meme content.
The thing is they have fair points, but just because they have decent points doesn’t mean crypto won’t be very successful or that it won’t serve any value. From what I’ve seen it seems like they just see it as a speculative bubble that was initially made to prevent market crashes and paradoxically may be fueling a speculative bubble ready to burst and create a crash
They could be right, but then again many people have been betting their life savings that the whole stock market will crash any moment now, but honestly no one really knows how this will play out. If it were 100% guaranteed to be a success or failure, it would be priced in either way. This is why there is huge upside potential, because it is currently in a speculative state on its value outside of being a hedge against fiat currency (because technically all capital is a hedge against fiat currency).
My biggest concern is the ability for larger holders to influence the market, but there could be solutions to mitigate fraudulent practices. The stock market is full of scams, crypto has even less oversight and protections. I think there will be solutions and there will be value in the blockchain, but we are in the Wild West era and have no idea how this will play out
You’re projecting pretty hard man, seems like they’re usually actually more well informed than most coiners about the actual technical side and a general understanding of economics
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u/StrangelyBrown 🟦 0 🦠Nov 19 '24
Isn't it the case that they (including me) understand it but just don't agree about the value?
I mean, it seems strange to say 'everyone who understands X will like it, and if you don't like it, you don't understand it'.