Comment on Opinion | Don’t Get Fooled Again by Crypto

• limerod@reddthat.com ⁨2⁩ ⁨months⁩ ago

  Do you know anything about financial markets?

  I’m at a beginner level in Investments and stock market.

  Study and you’ll understand everything you could do with it.

  I’m already learning about Investments and stock market. Maybe, once I finish that I could consider this. But, I don’t see much value in crypto so won’t bother.

  Perhaps, if my perception changes in the future I could reconsider. Just not in the near future.

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  • freedomsailor@programming.dev ⁨2⁩ ⁨months⁩ ago

    But crypto is just like the stocks: you can buy it because you believe on the project or just because it’s what’s delivering the best results at the moment. Consider cryptocurrencies as a little portion of your portfolio, intended for risk. You can operate it via ETFs, and thus don’t expose yourself to the risks (and benefits) of the blockchains.

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    • BakerBagel@midwest.social ⁨2⁩ ⁨months⁩ ago

      A stock is based on the profits and production of real companies that offer real goods and services. Crypto is based entirely on hype and sunk cost fallacies.

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      • locuester@lemmy.zip ⁨2⁩ ⁨months⁩ ago

        This is simply not true. I’ve been a fulltime software dev in the crypto space for 3 years. Moved to crypto after 25 years in the financial sector. My work in the crypto space is a near parallel to the legacy financial sector wrt products and services I’m delivering.

        Sure crypto has a scammer and hype and meme angle but I operate in none of those.

        Think of NASDAQ without all the rules. Where anyone can list and trade anything, even complex financial derivatives. It’s so freeing for the little guy. It levels the playing field of the financial system and access to capital quite a bit.

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      • jarfil@beehaw.org ⁨2⁩ ⁨months⁩ ago

        No it’s not.

        Stocks are based on the “valuation” people give them, for whatever reason they want. Check Gazprom’s recent stock valuation for a reality check; it doesn’t matter what “real goods or services” it keeps providing, everyone who held Gazprom stock, got exactly $0 for it. For further information, check how much company shares are worth.

        (Spoiler: they’re ALL based on “hype and sunken cost”)

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    • azthec@feddit.nl ⁨2⁩ ⁨months⁩ ago

      Cryptocurrencies are not like stocks, stock is partial ownership of an enterprise which has the ultimate goal of generating more revenue, stocks are not a trading currency.

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    • sonori@beehaw.org ⁨2⁩ ⁨months⁩ ago

      Most people when starting out are, or at least should be, very uneasy about putting money into things with no underlying value or feasible purpose beyond being bought by a greater fool in the future.

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      • maxprime@lemmy.ml ⁨2⁩ ⁨months⁩ ago

        What about cash?

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