Well, shit. It has reached the point that a big percentage of stories in the financial news and questions in Mr. These are all things that people have bought in the past, and driven to completely irrational prices, not because they did anything useful or produced any money and value to society, but solely because they thought they would be able to sell them to someone else for more in the future. When you make this kind of purchase, which you should never do, you are speculating , which is not a useful activity.
Even if you win some money through dumb luck, you have lost some time and life energy, which means you have lost. Noticed this ad on the corner of a website recently β¦ because we ALL need daily updates on an obscure piece of niche software technology! Investing means buying an asset that actually creates products and services and cashflow for an extended period of time.
Like a piece of a profitable business or a rentable piece of real estate. An investment is something that has intrinsic value β that is, it would be worth owning from a financial perspective, even if you could never sell it.
This separation is important because the usefulness of Blockchain is the primary justification people use for the big dumb Bitcoin lottery. Once you make this separation in your mind, you can see that Blockchain is a simply a nifty new software invention which is open-source and free for anyone to use , whereas Bitcoin is just one well-known way to use it.
It can have applications in the monetary system, contracts, and even as a component in higher level protocols like sharing files.
