Financial Times: Bitcoin bulls are not the bigger fools(ft.com)
ft.com
Financial Times: Bitcoin bulls are not the bigger fools
https://www.ft.com/content/4d869e6a-a974-45fe-b204-cb5f85838352
3 comments
https://web.archive.org/web/20240311094146/https://www.ft.co...
I've seen a lot of people quite rightly saying it isn't like stocks because you don't get dividends etc.
But there is another difference with stocks too. If a stock crashes the company can just go bankrupt and die for good, that stock is gone. Because bitcoin isn't company if the price crashes... no matter how hard, it will still exist , as long as few are holding, mining etc., and just sit there until the next time it repeats the cycle.
If a companies stock could do that, it would be far less risky to buy stocks in a failing company.. because eventually on a long enough time scale it would come back.
I won't say if that's good or bad as I am not sure. The energy use is scary.
It's almost meaningless to judge it's price crashes as failure or it's price rises as a success.
But there is another difference with stocks too. If a stock crashes the company can just go bankrupt and die for good, that stock is gone. Because bitcoin isn't company if the price crashes... no matter how hard, it will still exist , as long as few are holding, mining etc., and just sit there until the next time it repeats the cycle.
If a companies stock could do that, it would be far less risky to buy stocks in a failing company.. because eventually on a long enough time scale it would come back.
I won't say if that's good or bad as I am not sure. The energy use is scary.
It's almost meaningless to judge it's price crashes as failure or it's price rises as a success.