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by thaumasiotes 1958 days ago
I don't follow the logic. Bitcoin has no fundamentals, so it can go as high or low as it wants.

GameStop has fundamentals. But you're free to ignore them; they're not hurting anything. GameStop has everything Bitcoin has, plus some extra things; it is therefore worth even more than Bitcoin is.

Said another way, it is nonsensical to claim that Bitcoin has no fundamentals. If you believe that (1) Bitcoin has "no fundamentals"; and (2) GameStop has fundamentals tethering it to a market capitalization of a few million dollars, what you're actually saying is that Bitcoin has fundamentals tethering it to a market capitalization of zero dollars.
1 comments
T-A 1958 days ago
> GameStop has everything Bitcoin has, plus some extra things

Including the ability to keep making losses in perpetuity, which would make it worth negative infinity.

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thaumasiotes 1958 days ago
No, it wouldn't. As a stock owner, fiscal losses by the company named on the certificate don't impact you at all.
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T-A 1954 days ago
The only way a business can keep running at a loss year after year and not be declared bankrupt is by raising more capital, i.e. by getting more money from its investors. The price of your existing shares will not fall below zero, but you (or somebody else) will be paying up for new ones.
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