People seem to completely ignore the utility aspect of an asset.
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So...Tesla
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Yeah, but at the same time most of the that profit doesn't go to the people who hold the stocks; even with dividends it takes years before a share has paid for itself (and that's not counting inflation and taxes).
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Right, there's an understanding that an equity in and of itself is a long-term productive asset, if you want your money back within a defined period of time that's called a bond
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And you can even out the risks by holding a diversified portfolio. Bitcoin, you lose half your money because the wrong person sneezed today
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bro it's so easy you just have to diversify your crypto portfolio, there's definitely not a strong correlation in crypto prices.pic.twitter.com/cCgMdBxMhc
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Unfortunately, the stock market has been taking cues from crypto as of late. I.E.
$NKLA. Apparently even stock market investors can't help, but to fall for vaporware and empty promises. SPACs to the moon!Thanks. Twitter will use this to make your timeline better. UndoUndo
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Jameson loves to slippery slope this, to straw man his opponents. Folks are pointing out that Bitcoin is a high risk alpha iteration of a technology and every indication is that their scaling attempts have failed. Also, that governments are propping the value. That's bad.
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It makes me really sad to see people sink their life savings into an alpha technology and then fight bitterly to fight the march of technological progress becuase their prosperity literally depends on this bad bet.
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