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 Originally Posted by Poopadoop
lol , why not actually read up on a subject rather than spouting forth a load of ignorant asumptions as fact
https://www.reuters.com/article/us-c...-idUSKBN2BL0X9 i'm sure that you are aware of visa . The people that make that plastic thing you buy stuff with without actually handing coins or bank notes over and the transaction is processed digitally ........hmmmm does that ring a bell ? it sounds very like digital currency doesn't it and they now allow you to pay them in cryptocurrency.
Maybe you could go into a bank and ask for your pounds to be sent to you. The bank note isnt a £ or £10 . its just a promise to pay the bearer on demand the value printed on the note? where does the bank hold your money ? digitally . its a digital record on an electronic ledger of who owns how much of the coin in question.
how can you argue against a different digital record held on an electronic ledger when its essentially the same technology that has operated the financial system for centuries and is just the latest updated version where the ownership and operation of the network is decentralized away from government manipulation.
or maybe google the xrp/SEC case in america where regulators tried to regulate a cryptocurrency and ban it for breaching their regulations but the SEC havent even decided if it is an asset class that comes under their jurisdiction.
As for volatility, the price of everything responds to news on long term trends (google newspaper share prices over the last 50 years , have you bought one lately?) medium term trends and short term trends.
Originally Posted by Poopadoop
I suppose one difference is that a company has to file regular earnings reports, so you at least get an idea if they're headed for busto, and it's unlikely to just happen overnight, so touches on the volatility thing. You can also earn dividends from a company stock which is not an option for crypto.
try googling crypto staking and yield farming to see how you can get income from your cryptoholdings
Crypto seems more like trading in a commodity than in a stock. Like, if you buy gold, you're not getting a dividend, and the market could arguably someday decide gold has no value, so you could theoretically go busto. But we all know that will never happen. OTOH, we also know gold will never be worth $1m/ounce either, whereas a crypto could go way up in value like that. So again there's more volatility in crypto than in a commodity, for good or bad.
why is gold such a good investment for you but crypto isn't . what are you going to do with the gold . the value in gold and diamonds is their scarcity value which is exactly the same with bitcoin. There is a finite known supply of bitcoin which companies and institutions are now seeing as a hedge against the depreciation of the fiat currencies by governments around the world printing money at record rates and devaluing the buying power of each of their coins in the process.
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