1. AAPL didn't crash anywhere near the level that Bitcoin did (measured from peak to March low). AAPL lost about the same as the S&P. If something loses around 60-70% of it's value, I would call that a crash. Most people consider the 2008 GFC to be a "crash" and that was far less than what Bitcoin lost. 2. Most stocks aside from cruise lines, restaurants, and hotels did not crash like Bitcoin did. Sure, some did, but most S&P500 stocks did not lose 60-70% of their value. 3. Financial service providers will support anything if they think they can make enough commissions on it. As for those who are holding it for appreciation, yeah, they are speculating. They could be right. I expect the dollar to weaken significantly over the next few years so it at least has some tailwinds. But ask yourself this, "Why would my neighbor invest in bitcoin? How is it a superior store of value over precious metals or hard assets? Why would I use it as a means of exchange over dollars, credit card, venmo, etc?" 4. "you are a "sheep in wolf's clothing" That makes no sense. Think about that for a while.
Boomer trying to stay relevant. The best comment on that thread- “bitcoin is. Deal with it” So far folks on the ‘is not’ side of the market has been on the sidelines watching in disbelief of this trend:
Hey, don't tell us about it, tell the millions of other investors that believe in it as well, good luck bud!
The comments were extremely entertaining. From irrational crypto pimps to devastating common sense one liners. Good stuff!
Ahh, the bliss of living an existence in the Ivory Tower of Academia. Somebody has a $BTC hair up their bum this Thanksgiving.
“Gold has no intrinsic value,” Roubini said. “If you're really worried about say inflation rising, I would buy Spam.” “You know, you can eat Spam; you cannot eat gold,” he explained. https://www.newsmax.com/jameshirsen/bill-maher-nouriel-roubini/2010/05/24/id/359913/ Roubini is just an ignorant man who doesn't understand basic things about markets, he got lucky once but since 2008 he's been wrong about just everything
It makes me wonder how someone can have their nose so far up someone else's a** on twitter who isn't even a professional trader. We don't care about what your man crush has to say