RE: Newmont Earnings22 Nov 2024 09:24
I love the concept of crypto currencies and would not consider myself tribal in terms of the PM space either.
However, having listened to a wide range of intelligent and successful investors in the past few years...the lack of consensus on cryptos, by people far smarter than me, crypto bulls and bears, has led me to keeping away from that space.
Ultimately, I still cannot understand how something that is basically digital code, nothing more, can reliably retain value.
Or indeed even how one can ascribe a value to it, beyond simply someone being willing to pay you more for it than you paid, sooner or later.
There is nothing, even in the digital darling (Bitcoin), that cannot be replicated, or even improved upon, that I can see.
So I keep coming back to the conclusion of it being the greater fool theory.
But trading it along those lines has been very profitable for some and looks like continuing, for some time to come.
So I certainly would not criticise or mock those who choose to do so.
Because you either make money or you lose money. Everything else is noise. GLA.