Not quite.
Scarcity applies here. If you need gold for electronics, and you have little around, it becomes more valuable for whatever you are manufacturing.
This does not apply to BTC. BTC does not go into anything.
It’s the opposite really. It takes massive electrical resources to produce BTC. Terrible for climate change.
Which is why if you have a significant portion of your savings in gold, you’re just as crazy as someone who’s ‘investing’ in bitcoin.
The slight difference with gold is that it’s got a long history, it’s unlikely that people’s perception of the value will go to 0. Not so with bitcoin. Bitcoin is closer to tulips than anything else - including the irrational hype.
I swear, in 20 years we’re going to be reading case studies of the insanity that was bitcoin, including quite likely manufactured hype that leaves typical consumers holding the bag.
I don’t think there’s anything special about value other than it’s whatever someone is willing to give up in order to obtain something. That goes for all goods and services, imo. Bitcoin has value because people are willing to give up stuff to obtain it, and that’s that.
I dunno. The unspoken truth is that bitcoin is being used for illicit purchases, and that market is HUGE, likely many times more than the GDP of some of the countries out there. As long as those markets exist, there’s a sustained demand for decentralized currency.
I don’t think Bitcoin is going to make it. Not that people aren’t going to be using cryptocurrencies, just that like any service/good people will use it to the extent that it satisfies their desires. I think that newer cryptocurrencies will have features that will surpass what Bitcoin has to offer, eventually.
Sure but underpinning that “value” is an expectation of earnings discounted by some yield, or a reduction in volatility which is arguably part of the appeal of gold as a hedge against inflation (despite it’s lackluster history).
Fair enough. They still need a market to convert crypto to either dollars or legal stuff though, so i guess if they can keep all the nerds on board pumping the value, it works.
man.
I missed the train on doge when it was at 0.08 at last month. Then again, I won’t have any asset to gamble with until later this month.
On a tear today.
are you retiring? doge coin is going craaaaaaay
I didn’t buy doge. 
I’ve made money on some others though. Polygon has more than doubled since I bought it.
Of course “made money” is a loose term. I haven’t sold any yet.
Dogecoin is worth more than Moderna.
Think about how insane that is.
It’s all stupid, but is it stupid enough that I should sell my DOGE?
Musk is going on SNL tomorrow, my DOGE might double or go to zero.
A major problem I have with crypto is the easy ability it gives criminals to carry out their financial transactions. I believe ransomware is probably going to be the thing that makes the national governments around the world step into this arena and start regulating. This situation here has the potential to be a total disaster given the state of the economy right now and the already rapidly increasing cost of fuel.
DOGE took a hit overnight after the SNL joke, but it looks like it come back a bit from earlier. Polygon over $1 though!
Interesting consequence of crypto-mining. I can’t imagine it accounts for a huge increase, but I don’t really know much about this stuff.
Polygon is now triple what I bought it for a few weeks ago. 
I bought some at .41 as well.
I need my ANKR to start doing something useful. It has barely moved either direction since I bought it. Appropriately named I suppose. 
Now it’s 4x!