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Edward Williams's avatar

What always frustrates me about the “bitcoin/AMC/GameStop/FTT/whatever is sticking it to the man to solve millennials’ problems” is that the problems are almost never actually caused by a lack of demand - if everyone somehow made a fortune on some financial bubble, they’d just bid up the price of housing further! It’s a solution to YOU PERSONALLY not having the money to buy a house, but scamming money from the financially illiterate is in no way an actual solution to rising housing prices.

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LawZag's avatar

I agree that Bitcoin is lousy as an investment. I think it could have value as a currency which is not subject to a government’s manipulation. But in order for that to be the case, it would have to function as a currency and not as a vehicle for speculation. And at this point, it has almost entirely functioned as a vehicle for speculation.

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