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gyevlPanda said..Harrow said..
Is Bitcoin actually linked to anything of measurable value yet, or does it continue on it's own merry way, untethered to anything of intrinsic worth with it's only driver being the level of hyperbole contained on various bulletin boards?
money is weird. what is the intrinsic value of money?
My point is that the value of money is pretty well established. Cost of labour, food, and many other things are pretty steady and are tightly linked through a regulated system. I know if I work for a day I will earn a certain number of $$$, and can tell you pretty well how much food or other stuff that will buy me. It has a lot of stabilising momentum and changes gradually by only a few percent each year as things adjust and balance.
Compare that to a crypto currency that has no real reference, is not linked to anything real, and is just bouncing around the room with no justification for any particular price. It could go up or down by 1000% and neither movement would be any more valid than another. (Actually, in opinion any value is invalid.)
Stocks can vary a lot, but in the end there is always some level of fundamental analysis that can peg their value to some definable range.
Comparing crypto to a real-estate bubble is nonsense. People need to live, can afford a certain amount of money for housing, and there is a genuine supply/demand curve based on tangible things....amount of land, population, etc. Is there a real-estate bubble? Maybe, but we're still just talking about annual changes of 10% or 20% at the extreme, not 1000%.
Crypto is as dodgy as you could get. Still, it's quite an amusing demonstration of human psychology, as are Crypto's rants.