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Topic: Bitcoin is a stock - page 5. (Read 3996 times)

legendary
Activity: 1639
Merit: 1006
July 22, 2014, 12:39:20 AM
#1
I have decided that owning Bitcoin is no different than my shares of Netflix or my shares of Bidu or my shares of Tesla.

  • Those traditional stock shares are not really ownership of anything.
    I don't get dividends.
    I would never make anything if the company were sold to another company except shares in that company.
    If the company were to get attacked by any number of external forces my investment could be zero tomorrow.
    I can vote but my votes are symbolic emblems of stupidity
    The supply is limited but at any time I can get diluted really. You can say it is unlikely but my years of experience says what happens to a stock valuation is completely out of the average guys control.
    In fact many of my stock purchases over the years did in fact become worthless.

Most common stocks are symbolic shares of nothing, that we all magically agree have value based on nothing other than enough people believe they are worth more than zero to let me trade them to some other shlep that bought into the fraud of modern securities.

Especially since there are now 100+ crypto currencies. Aren't they all just stocks in ideas that we all agree have a value more than zero.

Yep Bitcoin is a stock.

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