this looks like a kneejerk emotional reaction.
how is this bad?
cryptocurrencies aren’t going away.
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> how is this bad?
The argument on crypto has happened on HN countless times - no point in rehashing it. Obviously I hold a negative opinion. My point is that young people do stupid shit.
> My point is that young people do stupid shit.
OK? So what? 'Young people do dumb shit' since time immemorial.
I stand by what I said, cryptocurrencies just like other technologies are new, whether or not young people do stupid shit with it, is irrelevant.
Again, it isn't going away any time soon, and will get regulated in due time with energy efficient cryptocurrencies already on the horizon.
Looks like you're gonna have to get used to it.
> OK? So what? 'Young people do dumb shit' since time immemorial.
The title of the article is literally "Why Gen Z is ditching traditional investments".
> Again, it isn't going away any time soon
Probably not but that doesn't mean that a market cap of ~1.5T is justified or likely to last. Good thing they're young and will have some time to replenish their losses. I was having a look yesterday and one of the biggest gainers with a market cap of ~$700,000,000 was BakeryCoin... yeah ummmm okay... that makes sense.
> Looks like you're gonna have to get used to it.
Sure. In the meantime give me some MSFT and AMZN thanks. You know... companies that actually do things... and that you probably use every day.
> The title of the article is literally "Why Gen Z is ditching traditional investments".
And? Why do you have a problem with this? You're not the one taking the risk with caution are you?
The full title is:
Why Gen Z is ditching traditional investments — but with caution
You deliberately missed that.
> I was having a look yesterday and one of the biggest gainers with a market cap of ~$700,000,000 was BakeryCoin... yeah ummmm okay... that makes sense.
I was having a look today and one of the biggest gainers YTD with a market cap of ~$15.25B was GameStop... yeah ummmm okay... that makes sense.
Same thing can be applied to stocks, but yes, crypto is bad because....
> Sure. In the meantime give me some MSFT and AMZN thanks. You know... companies that actually do things... and that you probably use every day.
Cryptocurrencies are also used everyday no? And since it's not going away any time soon, seems as though these young people are smart taking advantage of this crypto market early, before regulations kick in.
> I was having a look today and one of the biggest gainers YTD with a market cap of ~$15.25B was GameStop... yeah ummmm okay... that makes sense.
Gamestop is clearly an exception. Of course silly stuff happens with stocks.
> Cryptocurrencies are also used everyday no? And since it's not going away any time soon, seems as though
They're not used for anything other than speculation, crime, money laundering, scams and BS like NFTs and cryptokitties though.
> these young people are smart taking advantage of this crypto market early, before regulations kick in.
Not sure what you're saying here. You think regulations are going to send values higher so they're smart getting in early? Or you think they're smart taking advantages of all the volatility before regulation puts a stop to all that? If the first then you're wrong. If the second then you're just encouraging gambling.
Also, I challenge anyone to go and spend a few minutes browsing /r/cryptocurrency and come away with the impression that "these young people are smart".
> Gamestop is clearly an exception.
Your argument is "Cryptocurrencies are dumb, i'll just put my money in stocks instead" which not only young people also put their money in, but are also just as risky and subject to high volatility as well?
> They're not used for anything other than speculation, crime, money laundering, scams and BS like NFTs and cryptokitties though.
So they are also not used for a save fast way for money remittance? You're forgetting that lots of companies and countries are adopting cryptocurrencies.
> Not sure what you're saying here. You think regulations are going to send values higher so they're smart getting in early? Or you think they're smart taking advantages of all the volatility before regulation puts a stop to all that? If the first then you're wrong. If the second then you're just encouraging gambling.
And putting your money in stocks involved in SPACs isn't gambling?
> Your argument is "Cryptocurrencies are dumb, i'll just put my money in stocks instead" which not only young people also put their money in, but are also just as risky and subject to high volatility as well?
Not sure if you're being serious here because it's widely acknowledged that they're nowhere near as risky or volatile as cryptocurrencies!?
> So they are also not used for a save fast way for money remittance? You're forgetting that lots of companies and countries are adopting cryptocurrencies
I'll grant you that XRP's cross border remittance use case is interesting (in fact XRP is the only crytocurrency I've held in the last 4 years) but it is such a small proportion of what is going on.
> And putting your money in stocks involved in SPACs isn't gambling?
No. It's investing. There's a difference.