Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

LudwigPastorius

(14,474 posts)

42. It's up about 5% since Richard Farr's pronouncement.

Reply to highplainsdem (Original post)

Sat Feb 7, 2026, 12:53 AM

Feb 7

I agree that Bitcoin is primarily speculative, but there are tons of other investment types without underlying value or income generation. As long as there is someone who wants to take a chance on making money, it will persist.

Personally, if I were to invest in Crypto, it would be in tokens and blockchains that have utility, or potential utility. (Ethereum, Ripple, SOL, etc.) not Bitcoin.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

44 replies

= new reply since forum marked as read

Highlight:

As Crash Deepens, Investors Say Bitcoin Is Headed for Zero Dollars [View all] highplainsdem Feb 6 OP

"Farr also criticized the token for being damaging to the environment" YES YES YES!!!!!! AZJonnie Feb 6 #1

Most cryptocurrency does NOT use mining... WarGamer Feb 6 #4

You're correct, I'm mainly ranting about PoW schemes vs. newer PoS ones AZJonnie Feb 6 #16

I get you on crypto. The currency of choice for smugglers, traffickers and terrorists the world over. paleotn Feb 6 #18

Is Bitcoin getting shorted? OAITW r.2.0 Feb 6 #2

I think blind greed backed it, no? NoSheep Feb 6 #20

Stupidity Aviation Pro Feb 6 #23

Like Any Financial Thingy modrepub Feb 6 #25

I'm no financial wizard. But OAITW r.2.0 Feb 6 #28

My younger brother's BD was Oct. 6. OAITW r.2.0 Feb 6 #29

I saw a similar article yesterday... Hugin Feb 6 #3

false. the largest holder of BTC holds 5.5% and hasn't been touched since 2010 WarGamer Feb 6 #5

I'm only repeating what the article said... Hugin Feb 6 #26

any source that claims 60% of BTC is owned by one entity can't be believed about anything WarGamer Feb 7 #37

It didn't say owned... Hugin Feb 7 #39

100% false. That's what i proved earlier. WarGamer Feb 7 #40

Trump's family got out a month ago. Captain Zero Feb 6 #6

When we go to hard lee come about in dominant SE winds.... OAITW r.2.0 Feb 6 #31

*pretends to be surprised* sakabatou Feb 6 #7

A friend has 3 bitcoin at an average price of $1500. CrispyQ Feb 6 #8

She should have sold @$90K. ColoringFool Feb 6 #9

I knew a "libertarian"-type dude (who was never a Trump supporter) cojoel Feb 6 #10

The thing I remember reading about *rump bankrupting casinos was that he made millions on them personally Uncle Joe Feb 6 #11

Oh bronxiteforever Feb 6 #12

I've never understood why something communally owned (prime numbers) dickthegrouch Feb 6 #13

Zero seems like fair value. surfered Feb 6 #14

It's gambling. Nothing behind it at all. Joinfortmill Feb 6 #15

"Bad Money Drives Out Good." BurnDoubt Feb 6 #17

Mining it requires copious amounts of energy and water. ToxMarz Feb 6 #19

Now you can buy Boardwalk OR Park Place, but not both. Orrex Feb 6 #21

It was always a ponzi scheme built on theoretical sand. Ford_Prefect Feb 6 #22

Tulips cate94 Feb 6 #24

Full disclosure Gore1FL Feb 6 #27

There are a lot of artificial inputs into the Cyrptoverse. OAITW r.2.0 Feb 6 #34

I agree. Gore1FL Feb 6 #35

That's a feature! OAITW r.2.0 Feb 6 #36

Crypto... A volatile, unstable, wishful 'currency' with no assets or gov't support backing it. Norrrm Feb 6 #30

It's always interesting the folks who are into crypto. BannonsLiver Feb 6 #33

Will be buying XRP here and masmdu Feb 6 #32

I'm hoping for a 1929-1933 redux. roamer65 Feb 7 #38

It does the same thing every 3-4 years awesomerwb1 Feb 7 #41

It's up about 5% since Richard Farr's pronouncement. LudwigPastorius Feb 7 #42

Bitcoin is 2 years older than the iphone. Old Crank Feb 7 #43

There certainly are jmowreader Feb 7 #44