Comment Re: Winning! (Score 1) 102
The stock market is not a zero sum game. You invest in companies that have useful economic activity, and get a share of their profits as dividends.
Fair point, but there are a lot of large and influential companies that don't pay any dividends, because they invest their profits directly into growth and development. For example Nvidia.... well, they seem to pay 0.03 % of the current stock price, so essentially zero. The only economically sensible reason to invest in them is speculation; if there's some "useful economic activity" involved, the only way you'll get a piece of it is by buying low and selling high.
With cryptocurrency, the only thing you have is capital appreciation. There is no social utility. Even commodities like gold that also aren't income producing still have industrial uses, and are not purely speculative.
Cryptocurrencies have the same utility as banks, and many banks have been working on their own blockchains for years, for example JP Morgan: https://ancillary-proxy.atarimworker.io?url=https%3A%2F%2Ffintechmagazine.com%2Far...
The stock market comparison is really just a side effect of what cryptocurrencies are all about, which is transferring money in ways that traditional banks can't do -- pseudonymously and independent of governments or businesses. Store of value and speculation is one thing, but you can't send NVDA shares (or gold, or tulips) across the globe with this kind of speed and freedom. Cryptocurrencies have value because they provide this service, you don't really pay just for the store of value.