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this post was submitted on 13 Jun 2024
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Technology
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The fact that it is useful technology though means they'll always have a fullback. It's not going to go way like bitcoin I guarantee it.
Bitcoin went away? It's at like $67k today. Personally I prefer sustainable cryptos but unfortunately Bitcoin is far from dead.
And sure, there's lots of data processing and statistics that's extremely useful. That's been the case for a long time. But anybody talking about "intelligence" is a con.
GameStop also went up. It doesn't mean GameStop is a good company that's valuable to own, it just means that dumb people will buy things without value if they think they can eventually pass the bag to someone else. If someone purchased every share of Amazon they'd own a massive asset that would continually produce value for them. If someone bought every outstanding Bitcoin, it both wouldn't produce ongoing value, but the value would actually go to zero.