Crypto discussions banned on bogleheads and early-retirement.org

[corn18]

Fascinating that the two main fora I visit for investment/retirement discussions have banned all discussions on crypto and immediately delete any posts that even mention them. I guess it was too hard to talk about them with any civility.

I do find it entertaining listening to the crypto talking heads on CNBC telling us how great this 67% drop is for a buying opportunity. What happened to inflation hedge and store of wealth?

[james.hendrickson]

Why? Crypto is here to stay...its just a new and unregulated part of the economy. Although a lot of people are probably going to lose a lot of money in crypto before its all said and done.

[bjl584]

It doesn't surprise me.
There is no middle ground with crypto
It's like arguing about politics or religion

[kork13]

What happened to inflation hedge and store of wealth?

Thinking about this topic again, and I arrived at the exact same question as corn18 -- Crypto has always been touted as a comparison to precious metals, to hedge inflation & store wealth outside the wiles of traditional financial markets.

With all that's going on right now with the crash in crypto as inflation is flying high... Seems like that is/was a false bill of goods. If that argument was valid, shouldn't crypto be climbing incredibly high right now with such high global inflation?

Though at the same time, precious metals are also dropping..... soooo......??

[LivingAlmostLarge]

Cost of energy is above what it costs to mine BTC at least according to a friend. He was mining $15-20/day crypto. Now with BTC at $20k he's turned off his machine because it costs more for the energy usage.

I also know people who made a lot in cryptos and a lot who have lost. Most have given up. I still think Crypto is high but who knows. I thought it had a barrier price of $27k and yet over the weekend it broke that floor.