[clintonwoo]

So sick of reading all the time about people wanting to get rich from crypto grift. It's not providing any value to society to buy crypto and resell it at a higher price later to some sucker.

These people don't even want to use crypto to make transactions. It's definitely not a good idea to put all your net worth in it for a number of reasons also. Principally being it's not a mature system. There's nothing that says a new crypto alternative will come out tomorrow that totally voids all the stuff that exists today.

[charcircuit]

Plenty of people buy stocks hoping they can sell it for more to the next sucker before the business closes. Many don't even use their voting power that they get for owning part of the company. Someday another company could come along that does the same thing but better / cheaper.

Cryptocurrency investing isn't unique.

[1270018080]

At a certain point one can be so reductive and remove enough nuance such that all words lose meaning. We might as well call profit the greater fool theory. Now nothing matters.

Equating crypto to investing in companies is nonsense.

[charcircuit]

>Now nothing matters.

That's my point.

>Equating crypto to investing in companies is nonsense.

Why? Even if you go back to "It's not providing any value to society to buy crypto and resell it at a higher price later to some sucker." It's not like me selling a share to someone else provides society value. Unless I do something for society with the money I made, but the same would apply to money based off profitable cryptocurrency investments.

[clintonwoo]

A high share price allows companies to issue stock on the public market and raise money. Just so you know. So there is valid utility to buying stocks.