Posted: Feb 17, 2019 1:59 am
Insofar as you're being naive (stupid is your word, not mine), it's in thinking that governments couldn't regulate cryptocurrency rather than thinking that governments could regulate gold.
There is no form of currency which has a value independent of your fellow human beings. None. There's no commodity that does, there's no asset that does. This is not a reason to invest in some specific thing, it's a marketing pitch.
Cito's tip about Vodafone is a case in point. Vodafone generates profits, which are distributed to the investors. Bitcoin doesn't do that. Vodafone has a balance sheet of assets, which include real estate, intellectual property, buildings and machinery. Bitcoin doesn't have that.
The speculative value of gold is underwritten by the demand for gold as a fabrication material for electronics and jewellery. The speculative value of Vodafone shares is underwritten by the demand for a share of dividends and the ownership of land, buildings and profitable trading brands. The speculative value of Bitcoin is not underwritten. Yes, you could win, but you're gambling. And you're gambling based on some frankly ludicrous arguments and "probability" assessments.
ETA: If government collapses and "the shit hits the fan" numbers on a computer ain't going to help you. Even tulip bulbs would be little help. Potato and carrot seeds are the way to go. If you want something lower yield, but more adverse condition resistant I believe turnips are pretty good in British soil and weather, historically speaking.
(typos)
There is no form of currency which has a value independent of your fellow human beings. None. There's no commodity that does, there's no asset that does. This is not a reason to invest in some specific thing, it's a marketing pitch.
Cito's tip about Vodafone is a case in point. Vodafone generates profits, which are distributed to the investors. Bitcoin doesn't do that. Vodafone has a balance sheet of assets, which include real estate, intellectual property, buildings and machinery. Bitcoin doesn't have that.
The speculative value of gold is underwritten by the demand for gold as a fabrication material for electronics and jewellery. The speculative value of Vodafone shares is underwritten by the demand for a share of dividends and the ownership of land, buildings and profitable trading brands. The speculative value of Bitcoin is not underwritten. Yes, you could win, but you're gambling. And you're gambling based on some frankly ludicrous arguments and "probability" assessments.
ETA: If government collapses and "the shit hits the fan" numbers on a computer ain't going to help you. Even tulip bulbs would be little help. Potato and carrot seeds are the way to go. If you want something lower yield, but more adverse condition resistant I believe turnips are pretty good in British soil and weather, historically speaking.
(typos)