The Investment Thread

Mr. Blue Sky said

What’s with the pessimism ? Seriously, you mentioned in another post earlier that you disagreed with me about the future of crypto, where does that come from ? I’m not saying that one should walk around oblivious to what’s going on around them; quite the contrary.. but when so many signs are pointing to a bright future for crypto, certain NFL players taking all their salary in Bitcoin, Amazon starting to accept crypto and many other examples- why cant some people see it succeeding ?

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Amazon isn't starting to accept crypto, they're hiring someone to help them explore it. Not quite the same thing.

As for why pessimism, specifically regarding bitcoin, its value is currently largely driven by speculation, not utility, and in terms of utility, other cryptocurrencies and even non-cryptocurrency solutions are typically better suited to applications than bitcoin is. So it's two questions, whether that speculation is ultimately sustainable, and/or whether it can reach a point where its value is sustained by utility instead, even against competition from other cryptocurrencies and non-cryptocurrency solutions. And I can easily see why some people would take a more pessimistic stance on the outlook there.