Cryptocurrency Q&A
Is bitcoin a good investment if you're a drug dealer?
Is bitcoin a good investment if you're a drug dealer?
KimchiQueen
Sun Oct 06 2024
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6 answers
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As a cryptocurrency professional, I would like to pose a question: Is it wise for a drug dealer to consider investing in Bitcoin? On one hand, Bitcoin offers anonymity and a decentralized system that could potentially shield transactions from government scrutiny. However, the highly volatile nature of the cryptocurrency market, as well as the legal risks associated with drug trafficking, could potentially outweigh any potential benefits. Furthermore, engaging in illegal activities with Bitcoin could have severe consequences, including the loss of funds and potential legal action. Therefore, it is crucial to carefully consider the risks and benefits before making any investment decisions.
6 answers
CharmedVoyager
Tue Oct 08 2024
Grantham's stance on bitcoin reflects the skepticism held by some traditional investors and financial experts towards cryptocurrencies. While many see the potential of blockchain technology, they remain unconvinced by the value proposition of bitcoin as an investment.
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Caterina
Tue Oct 08 2024
Jeremy Grantham, a renowned investor, recently criticized bitcoin, which soared to an all-time high of more than $72,000 earlier this month. According to Grantham, Bitcoin lacks the fundamental attributes of a traditional investment.
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EthereumEagle
Tue Oct 08 2024
He pointed out that bitcoin does not offer any dividend payments to its holders, which is a crucial aspect of many traditional investments. This means that investors in bitcoin do not receive any periodic income from their holdings.
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EmeraldPulse
Tue Oct 08 2024
Furthermore, Grantham argued that Bitcoin does not create any tangible value for society, except in the illegal activities where it is used, such as drug trafficking. He suggested that bitcoin's value is primarily derived from its use in such nefarious activities.
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EclipseChaser
Mon Oct 07 2024
However, it's important to note that Bitcoin and other cryptocurrencies have gained significant traction in recent years, with many institutions and investors incorporating them into their portfolios. These digital assets have also been adopted by mainstream financial firms, indicating their growing acceptance in the financial world.
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