GoingMadlem

I’ve been watching the price of Bitcoin and feeling like I should invest (a relatively small amount) since the potential value seems roughly unlimited. This thread makes a good case that I shouldn’t regardless, for moral reasons, and those moral reasons also point to risk of ruinhttps://twitter.com/smdiehl/status/1350869944888664064 …

In case there’s any confusion here: I’m not an expert on this topic. I’m sharing for precisely the opposite reason. The idea was new to me. This is not a position I hold or am attempting to advocate for. It’s absurd that this is something I might have to clarify.

Bitcoin is deeply irresponsible from an environmental perspective, and it's also just a total house of financial cards. It's based on literally nothing, so you're just forever crossing your fingers that other people will keep getting FOMO and buying in.

I mean, isn't the USD based on literally nothing at this point?

It's based in trust on the US to continue existing as a world financial power. You can argue for days about whether or not that's likely to continue, but "the entire US economy" is a tangible thing. Comparing it to magical computer dollars is very silly.

Honestly, this sounds like a very similar argument that some old time paper players use against Magic Online.

I don't think comparing the purchase of digital gamepieces to cryptocurrency holds water. Besides, MODO is also risky from an investment perspective, as the vLue of those cards could also crash for any number of reasons.