What's going on with the crypto crash?

For those invested, not much has changed. There should be no intention to sell anytime soon as the technology is still in its early stages, thus the current price is irrelevant. The technology is still progressing, which is what investment should be based on.

This... makes no fucking sense.

If you own Bitcoin, you aren't "invested in the technology", you are invested in the specific currency. You don't make money if someone magically finds an actual use for blockchain unless that use is actually added to Bitcon—which it likely wouldn't be, because why the fuck would someone add their innovation to a currency they need to buy, instead of starting their own and getting rich when people buy into it?

People didn't add "smart" contracts to Bitcoin, they built Ethereum instead. The idea of buying Crypto as a technological investment is a statement of unfathomable stupidity. That's like saying I make money being invested in Google if Apple makes a technological breakthrough, just because both are based on computer technology.

/r/OutOfTheLoop Thread Parent