cross-posted from: https://lemmy.ml/post/46379297

Source: r/buttcoin

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[–] -1 points 4 months ago (1 child)

Etherium is in question in the post, so never even close. I'm sure people have lost money, but if you bought at the absolute height and sold at the absolute low after it, you maybe could have lost half once. That's max loss unless you bought every up and sold on every down. In 5 years you'd be down 16%. 1 year you'd be up 31%. It's volatile but not as much as people make it out to be.

The government and media have always had reason to put people against it and say it's only used for drugs. Kind of like those fish men we bombed in boats without trial.

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  • [–] 9 points 4 months ago (2 children)

    That graph is hilarious. If euros looked like that, nobody would be using them.

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  • [–] 3 points 4 months ago* (1 child)

    That's comparing apples to oranges. What you want to compare to Euros are charts for stable coins. Which, for the legitimate ones that are fully backed, are basically horizontal straight lines.

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  • [–] 1 point 4 months ago (1 child)

    the legitimate ones that are fully backed

    The other commenter was trying to use that chart to tell us that cryptocurrencies are somehow better than fiat currencies as a store of value, despite their wild swings in value in the most stable one that isn't backed by fiat currency.

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