[darawk]

You're investing in a future where they are used as currencies. If today you could buy USD for 10 cents, knowing that it'd be worth its value today, that'd be worthwhile. Now, lots of people don't think cryptos will ever achieve that kind of success, and they may be right. But that is the investment thesis nonetheless.

[jjxw]

As much as I personally think cryptocurrencies will have a difficult time achieving currency status - this is pretty much what happened during the American Revolution. Congress issued bonds to pay soldiers and for goods for the Continental Army. Those who accepted the bonds as payment were, in a sense, betting that they would be worth something in the future.

[hartator]

Except 10 cents of USD was worth more 50 years ago than now.

[programmarchy]

Because of the Fed, which is an organization many people don't want manipulating (devaluing) their currency. Monetary freedom is a big draw for many in the crypto community.

[marnett]

But the draw is near fantasy levels of misunderstanding and delusion. Monetary policy is not that simple.

[allthenews]

Sure, but one could argue that our sanctioned manipulation of fiat currency is similarly based on delusions of simplicity and/or understanding. We still don't seem able to reliably avoid recessions, and no one is predicting the market with any reproducible accuracy.

Perhaps such complex, chaotic systems may be better off sans regulation. Especially something like cryptocurrency, which does not have the same properties as paper fiat, although it is being treated as such.

I personally have less faith in institutions run by humans and bogged down by dated regulations than I do in an instantaneously fluctuating near free market. If you can't trust people to invest in currency because of complexity, what makes you think you can trust them to regulate your money, and make decisions that affect the value of your assets for you?

[dajohnson89]

now it's whales and mining farms