The same reason stanley cups got super popular for a bit. Herd mentality and lack of regulation.
This is kind of the main use case for crypto. Fear and Greed
This is kind of the main use case for crypto. Fear and Greed
Like, “crypto will go away as soon as humanity stops feeling fear or being greedy”?
TBH, if anyone really wants to take the air out of crypto, they need to make an easily accessible, divisible, provable deflationary asset, that doesn’t require a lot of work to find or store (so not real estate, gold, guns, rare LEGO sets, etc.)
No.
Fear and greed have motivated human investors since the dawn of investing, but saying that because this motivation is and likely ever will be omnipresent means that every individual thing this fear and greed have acted on will also be omnipresent is, off (Can I interest you in some Dutch Tunips, only 10k each?)
I think the Fed not providing an easy API for a non-dollar token backed by gold is the real thing that keeps crypto around.
GLD is an ETF that tracks gold.
BTC is for gambling.
https://www.smithsonianmag.com/history/there-never-was-real-...