Why is shitcoin crashing despite internet nerds thinking it'll solve world hunger?

submitted by yabbit from self.AskSaidIt

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[–]jet199 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 2 fun -  (2 children)

Because mostly no one is using it as an actual currency only as an investment.

[–]Antarchomachus 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

This is a big part of it. Also all the large financial institutions investing in it kind of turned it into basically a hypervolatile stock. It is not the hedge against inflation many imagined it be

[–]antares 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

There is one that is being used as a currency in France, and it is getting to the point, I will be very surprised to find any French bitcoiners remaining.

[–]WalkingIn2Madness 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Crypto has always and will always be unstable.

[–]WalkingIn2Madness 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

It's valuable because people seek value in it to get drugs or guns online.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I pay cash for my online drugs and guns.