And that is why I don't go near any crypto. Don't get me wrong I love the idea but I don't like volatility. I can't wait until a stable DeFi is established. for international transactions this will be a dream.
If it's up over 10 fold in 3 years then I don't see why it couldn't drop 3 fold in the next 3. I like simple investments where the value is obvious and a simpleton like me can guess if the price matches the underlying value.
Can you give an example of what you’d consider “simple investments where the value is obvious” and where “a simpleton like all of us can guess if the price matches the underlying value”?
Most commodities such as gold and oil. You don't need to know much about them to know they have value. Government bonds because you're trusting in the government lasting that period and keeping their word.
Index funds, you're just following the market and betting it will do the same thing it did the last 30 years over the next 30 years.
All of these I'd only look at for long term investing. Short term trading is not for me. My crystal ball is just not good enough for that.
It baffles me, that the people that are the most cryptocurreny-enthusiast are the ones most likely to confuse the proof for a _usecase_ of a technology with the sheer _price_ development a digital token on a completely volatile market.
What your comment says is that more people decided to pump money into a cryptocurrency over (completely biased chosen) x amount of time than people cashing out (if put differently one could definitely encorporate the terms of greater-fool or pyramid in this senetence).
I mean I could list a ton of milestones and use cases and things but on HN few people care about that. The price is an easy way to quantify the value to the market holistically.
It is, though, yet another indication that crypto is losing momentum among mainstream consumers. Perhaps that's simply collateral damage from a downturn that's affecting all segments of the economy. But, then again, perhaps not. It strikes me as a distinct, qualitatively important development that's worth observing carefully rather than dismissing out of hand.
I mean, META stock has been a worse investment year over year than bitcoin. I know everything is relative, but the "momentum losing" I think is fueled by people who vehemently dislike this technology more than what the market is determining
You can't draw a distinction between people who dislike an asset and "the market" like that. The market includes everyone, not just a select group of people who hold a specific set of opinions.
Also, this focus on the USD exchange rates of specific cryptocurrencies is akin to moving the goalpost right out of the stadium and into, like, a tennis court or something. The shift this article is talking about is not about prices, it's about mainstream institutional support for the asset class. That's not driven by exchange rates, per se, because they're not speculating on it, they're simply enabling their clients to do so. It's more driven by things like whether they believe there's a stable consumer market that can be relied upon to cover their cost of operating in the space and provide some profit as well.
They produced 20 times more fully electric vehicles than toyota, honda, and ford combined in 2022.
Tesla produced about 1.4 million all electric vehicles in 2022 with a growth rate of about 40%.[1]
Toyota:1220 (The BZ4X is the only full electric sold in 2022)[2]
Honda: I don't think they sell any all electric cars right now. None on this list[3].
Ford about 65 thousand.[4]
I would love to see the numbers if you have them. EV and not EV/PHEV combined. That is definitely not the same and obscures the comparison. The Chinese are going to be the main Tesla competitors. There is a reason that the Chinese let Tesla own their plant in China 100% instead of making them a minor partner in a joint venture like everyone else. Telsa insisted and they gave in because they wanted to build up an EV manufacturing area with Tesla bringing lots of cutting edge tech and buy lots of batteries and other parts.
VM fired Herbert Diess, who was pushing EV very hard. Now VW EV production is decreasing.
"Everyone is catching up to Tesla and it's going to be just a face in the crowd in about 2-3 years." This has been said for many years. Time will tell of course.
Isn't that actually a bad thing? Wouldn't I want the currency I use for finance and so on to be relatively stable? And money come from these activities and not the currency changing in value.
