ericsoderstrom

I usually end up skimming/skipping lengthy food descriptions in fantasy books. They don't add much to character or plot development. I like the idea of 'engaging all five senses' but think there should be more intentionality in it than just engaging senses for the sake of engaging senses, which is often what food descriptions seem like.

That was my point... OP had cherry picked the examples of microsoft and amazon to support the claim that buying and holding cryptocurrency through a bubble is a smart investment, which is of course absurd.

What about people who bought pets.com or webvan stock, or any number of countless stocks which soon became worthless?

People now envision bitcoin as 'store of value', and less like an actual currency. I imagine there are many technical and financial reasons why it will never be suitable as a currency. (Deflationary by design, technical limitations on size of blocks leading to slowness of transactions)

Does being unsuitable as a currency mean it's also unsuitable as a 'store of value'? The answer to that isn't obvious to me.

The value of the US dollar comes in part from our ability to pay taxes with it (and perhaps ultimately from the US military). Cryptocurrency has no central authority to enforce its value via taxes or military, and isn't particularly suitable for day-to-day transactions. Without either of those properties, I have a hard to imagining it being a particularly good store of value. But we'll see. I think we're all watching an interesting experiment unfold in real time.

I don't think the current price of btc has anything to do with whatever utility it may or may not have as a currency or store of value. The price is entirely informed by speculators hoping to sell it the following day for 100% ROI. I think a collapse is inevitable.