Showing posts with label crypto. Show all posts
Showing posts with label crypto. Show all posts

Friday, March 8, 2024

Cryptocurrency is gold or casino - my opinion

 Lately, there has been a lot of talk about cryptocurrencies. I have an article written about them and my opinion cannot be changed.. I might miss something important for them and the benefits they would bring. I have logged into quite a few forums to look and read. In all the forums, Mr. Buffett is glorified as an investor. But the same people also glorify Bitcoin. Of course, there are also people who speak out against these crypto currencies. I was looking to see somewhere where Mr. Buffett invested and his opinion. He has not invested and his opinion that they do not carry a Coefficient of useful action. My opinion is the same. Forums also compare bitcoin to gold. I have no words. Gold, apart from being a raw material that is used everywhere from industry to ornaments, can also be exchanged for everything. Bitcoin can be defined as something of a lottery. Apart from bitcoin miners and traders, the only hope for others is for more money to pour in and thus profit and lie and predict when it will go up. or for the price to fall and to be able to sell at this volatility. Only people who want to get rich quickly are ecstatic about this thing. Yes, as a lottery and calculation for some people, this may be profitable, but for real investment in business or surplus value, I do not see a way out in cryptocurrencies. How many people would be happy to be paid like that? Uncertainty and more. Such money created by governments has an exit. Because they may be regulated and somehow not have much volatility. Imagine you get a salary and the next month is not sure about your standard of living. So I have no idea if it's a Ponzi scheme or just a lot of people can get burned with their hard-earned money disappearing fast. This means a casino where you have bet a lot and the risk is not that you have invested in the business but rather you have bet on luck. It's one thing to invest in a business, another to bet on a card or a chip or some new game. Here the chances are more than the lottery if you have a sense of when people would buy or when they would sell to make a difference. But this is not an investment, but a casino. I am expressing my own opinion, nothing personal. 

Author Sezgin Ismailov

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