Especially with something as volatile as crypto.

Who knows where it goes tomorrow. It could be up another 10% or down 20. It’s not based on anything of value anyways. It’s all just rumor and speculation.

Personally, I had a very small stake in Bitcoin, but realized I would much rather put my money in entities that create value — companies that create products or sell services.

This asset does not generate any cash flow, only has inherent value as a tool to launder money and pay criminals, and its high value violates virtually every tenet of portfolio theory. Its value at this point is because people want it to be valuable, but I guess you could say the same about Tesla.

worth. All in the minds of people and no inherit value.

They also have many properties that make them useful for a variety of applications, such as jewelry, electronics, dentistry-- even space exploration.

With a Special Circumstances charge of "crimes against humanity".

But, I seldom get my way

It's great if you have enough to buy Boardwalk and Parkplace on the game board, but it isn't currency that is based on value in the real world.

I am 61 so maybe I am mistaken about what constitutes "real" currency, like being backed by nations.

I might consider investing in "Monopoly $ Coin" though, I loved that game as a kid.

instead of being put to use making something of actual value. It's literally destroying something valuable and then declaring that destruction itself is inherently valuable. It's like declaring your house has gone up in value because you burned it to ground, IOW.

In 2010, a laptop could mine a handful every few hours.

And it's the principle that annoys me more than anything. The "money supply" for a country is supposed to track at least somewhat with the value of the goods and services and natural resources and real estate and investments and all that. Outright destruction of energy resources should not be considered something with intrinsic "value". It's the opposite of what "money" should represent and IMHO its existence sets a bad precedent.

Granted, it's not hugely different from the way we put value on gold, but at least that's an actual real thing, with some utility (not really in accordance with its $ value, but at least some, and people put value on gold jewelry, for example). Bitcoin isn't even THAT, it's just saying "I wasted energy, polluted the atmosphere, raised other people's electricity rates, and produced NOTHING ... but hey, that's worth real money!".

Bah Humbug I say!

Can you imagine your money jumping up in value 10% one day, down 12% the next, then up 5%, up 2%, down 8%?