Timeline for Why are cryptocurrencies not considered proper investments?
Current License: CC BY-SA 4.0
18 events
| when toggle format | what | by | license | comment | |
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| Sep 17, 2020 at 15:45 | comment | added | Džuris | @user253751 some countries with an unstable national currency happen to use a foreign currency more than their own. And what about a basket of cryptocurrencies? | |
| Sep 17, 2020 at 12:23 | comment | added | Count Iblis | The value of casino stocks won't go to zero, because people like to gamble. So, there is a market for gambling, including online gambling. Some of the people use Bitcoin as well as other risky investments to satisfy their gambling cravings. | |
| Sep 17, 2020 at 10:51 | comment | added | Criticizing Israel not allowed | @Džuris I think s/he means the darknet could switch to a different cryptocurrency. Canada will always use Canadian Dollars (for the foreseeable future). Will the darknet always use Bitcoin? | |
| Sep 16, 2020 at 14:55 | comment | added | Nobody | @Džuris A more theoretical point is that for real currencies, a demand is created by the government: You need to pay taxes and fees in that currency. For virtual private currencies, there is no such fixed demand. | |
| Sep 16, 2020 at 14:52 | comment | added | Nobody | @Džuris The only reason you can buy stolen credit cards with crypto currencies is because the people who receive the crypto currencies can then exchange that currency for a real currency or goods. The only reason they can do that is because there is a fair amount of legal trading being done in the currency, otherwise it would just be outlawed. If it's outlawed it becomes hard to spend and the thieves will be better off to milk the cards in other ways, for example by spending the money directly on expensive goods which can be resold. | |
| Sep 16, 2020 at 12:38 | comment | added | Džuris | @Allure do you mean darknet would run out stolen credit cards and there would be nothing left to buy with cryptocurrencies? I think it's more likely that Canadian dollars would experience hyperinflation and goods would be sold for US dollars in Canada then for all cryptos to lose purpose. | |
| Sep 16, 2020 at 12:12 | comment | added | Allure | @Frank gold is a material - you can use it to make necklaces etc and wear them. If you aren't interested in wearing gold jewellery then yeah, its value can go to zero. | |
| Sep 16, 2020 at 11:48 | comment | added | Frank | And gold? ...... | |
| Sep 16, 2020 at 10:53 | history | edited | Allure | CC BY-SA 4.0 |
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| Sep 16, 2020 at 10:52 | comment | added | Allure | @Džuris As long as the Canadian economy is functioning, they will be producing goods that you need Canadian dollars to buy. Can the same be said of the Darknet? | |
| Sep 16, 2020 at 10:47 | comment | added | Džuris | I see the credibility in first three, but the Canadian currency is just as speculative as bitcoin. You could say "go to Darknet (where they will inevitably retain value)" about bitcoin with the same level of confidence. | |
| Sep 16, 2020 at 10:35 | history | edited | Allure | CC BY-SA 4.0 |
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| Sep 16, 2020 at 8:46 | comment | added | Manziel | If the house is considered worthless it is unlikely that you will find someone paying rent for it. They would simply take the neighbours house and buy it for a symbolic 1€. Selling the land is also unlikely to work. A real world example can be found in some rural areas of eastern Germany where all the young people have left because there were no jobs. It is practically impossible to sell your old grandmother's house from the 50s (she still lived in the practically worthless house "for free") and many people simply give it to the municipality to avoid paying for maintenance or tear-down | |
| Sep 16, 2020 at 8:14 | comment | added | user3153372 | In the event that Microsoft somehow goes bankrupt, then the innate value of their shares goes to zero. The difference is, the innate value of bitcoins is already zero. | |
| Sep 16, 2020 at 7:54 | comment | added | Allure | @glglgl I suppose in a true doomsday scenario, we should also consider the house burning down, the US government defaulting on its debts, and a meteor wiping out Canada and its entire economy. In that case yeah, the value of all the investments can go to zero. | |
| Sep 16, 2020 at 7:37 | comment | added | glglgl | And 3: if a foreign currency declines in value, its internal value goes down as well, so you can buy several million CAD, but if 1 million CAD buys you only a bread in CA, you haven't gained anything as well. (2/2) | |
| Sep 16, 2020 at 7:37 | comment | added | glglgl | The points about stocks, bonds and CAD have flaws: 1. Stocks: "bank all the profits the company makes (it made $44 billion of profits last year)" -> but what about the next years? Stocks are generally losing value because of the anticipated bad sanity of the enterprise. If MSFT makes $0 next year, its stock will fall, and you cannot get anything from it. Same with bonds: these go towards 0 mostly if a government decides to cease payments on its debt. Then you pocket nothing. (1/2) | |
| Sep 16, 2020 at 6:12 | history | answered | Allure | CC BY-SA 4.0 |