Re: What the hell is (a) bitcoin?
Posted: December 13 21, 3:02 am
Man searches landfill for $350m in Bitcoin.
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https://www.stephendiehl.com/blog/against-crypto.htmlFor cryptocurrency to have any real utility, the volatility needs to cool off. If that were to happen, there would be little reason for the public to speculate on cryptocurrency prices, given that there would no longer be the potential for massive returns. The smart money exits, the liquidity disappears and the bubble collapses. This is the inevitable fate of all cryptocurrencies, and we see this reflected in the simple fact that the median return on all these thousands of flash-in-the-pan coins is zero. Every crypto coin is just on a random walk to zero by a different path.
Great read, thanks for sharing. @Superorganism you should share this with your brother.AdmiralKird wrote: ↑December 31 21, 12:09 pmhttps://www.stephendiehl.com/blog/against-crypto.htmlFor cryptocurrency to have any real utility, the volatility needs to cool off. If that were to happen, there would be little reason for the public to speculate on cryptocurrency prices, given that there would no longer be the potential for massive returns. The smart money exits, the liquidity disappears and the bubble collapses. This is the inevitable fate of all cryptocurrencies, and we see this reflected in the simple fact that the median return on all these thousands of flash-in-the-pan coins is zero. Every crypto coin is just on a random walk to zero by a different path.