This might be a bit of a bad question, but I don’t know where to ask to get the least biased responses.

So, I have about $1.000 in Bitcoin that used to be $300 (I’ve put in about $1.500 in various shitcoins before getting those BTC)

I fly drones as a hobby and I was thinking of getting a new system for that amount of money.

  • Sludgeyy@lemmy.world
    1·
    4 months ago

    Same can be said about traditional stock markets. The prices are entirely fictional there, too.

    Not true at all.

    Microsoft has 7.4B stocks outstanding.

    Microsoft has a valve as a company.

    Owning 1 stock gets you 1/7.4Bth of the physical company.

    If Microsoft goes bankrupt or dissolves you could get some value out of your share.

    There are 19.9M BTCs

    BTCs have no intrinsic value

    Owning 1 BTC gets you 1 BTC

    If BTC goes under you get nothing

    The stock market does have artificially inflated/deflated prices but they are roughly based on a company’s value. The stock is backed by the company.

    • gazter@aussie.zone
      1·
      4 months ago

      There is no physical company. I can’t eat Microsoft any more than I can eat a Bitcoin, as much as I might want to.