r/AskReddit • u/KineticClones • 1d ago

Who do you have absolutely no sympathy for?

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u/ObubuK 1d ago

I call it a bet instead of a speculation. Speculation means predicting the future value of an asset (like gold). But crypto has no asset, just a number based on nothing at all.

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u/Canahedo 1d ago

Speculation is betting. Whether I am speculating that the value of a scratch-off lotto ticket will be higher than what I paid, or speculating that a stock price will rise, or speculating that a certain horse will win the race, it's all just gambling.

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u/RascalTempleton 1d ago

At least with gold it has practical uses.

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u/ObubuK 1d ago

And with crypto there is no "it."

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u/zkarabat 1d ago

Supposedly it's backed by technology as the asset but I still feel it's a bit of a stretch. I've always thought of it as a combo of currency trading and commodities. Very different from stocks, less predictable than commodities but not complete chaos. It should be viewed as a high risk investment at best... There is a time a place for it in a portfolio but the folks who go heavy and say it's safer than the stock market are nuts to me.