[itairal]

The network of belief people have in this is quite impressive even if I think they are fools.

Still though, in the grand scheme of things crypto just hasn't been around that long.

MSFT is so close to taking out its old high while crypto is all 2X away from the old highs. Over time, crypto is not going to be able to compete with stocks of cash producing businesses. Crypto fools have mostly confused commodity investing with stock investing and not understanding that the upward drift of the stock market is from the cash produced from business. Gold and silver looked like pretty genius long term holds in 1981 from being able to hold them again in 1974 but gold bugs paid an absolutely enormous opportunity cost over time.

The worst part to me for crypto fools is that because the anti-crypto people have a narrative that the price is going to zero, their false beliefs are reinforced when this doesn't happen and won't happen. The risk is not going to zero, it is the risk of trading ranges forever like gold and eating massive opportunity cost.