Huh? Who invests in a currency thinking it’ll go up in value? Most have inflation on purpose, your money is literally eaten away by “investing in” currency.
I have lived in Soviet Union. In the end of SU I even as a 13 year old child bought USD, and earned money from that, when changed back after months.
The same was done after getting independence. You bought Finnish marks bought USD or German marks and after few months changed back, because the economie of Finland didn’t had best days in the 90’s and USD rose in value.
As I said in another comment somewhere in this thread, that’s not investing, that’s hedging against the inflation of a failing currency. USD, DEM, FIM just lost less value over the same amount of time. Those currencies didn’t go up a bunch compared to other normal currencies.
currency investors do exist. i know a dude who had more money than god and thought “huh, well let’s see” and now has more money than two gods because the fuck is lucky.
you look for arbitrage opportunities between different currencies. i can’t remember whether he just exchanges currency or buys futures or what. i think it’s foolish but like i said, this guy’s got more money than two gods so he’s gotten very very lucky with it.
It’s also pretty telling that all the crypto stuff is always measured in dollars. That said using usd does overall make money for the US by seigniorage.
That’s what I always tell people. A bitcoin or etherium or dogecoin or whatever they have is essentially valueless because it can’t be exchanged easily for goods and services. 100% of it’s value is derived from how much real, useable money you can exchange it for and nothing else.
You can’t fake this kind of willful stupidity.
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Nobody invests IN the US dollar though. A currency is not supposed to be an investment.
What do you mean? Currencys have always been investments.
Huh? Who invests in a currency thinking it’ll go up in value? Most have inflation on purpose, your money is literally eaten away by “investing in” currency.
I have lived in Soviet Union. In the end of SU I even as a 13 year old child bought USD, and earned money from that, when changed back after months.
The same was done after getting independence. You bought Finnish marks bought USD or German marks and after few months changed back, because the economie of Finland didn’t had best days in the 90’s and USD rose in value.
You literally make money with that.
As I said in another comment somewhere in this thread, that’s not investing, that’s hedging against the inflation of a failing currency. USD, DEM, FIM just lost less value over the same amount of time. Those currencies didn’t go up a bunch compared to other normal currencies.
currency investors do exist. i know a dude who had more money than god and thought “huh, well let’s see” and now has more money than two gods because the fuck is lucky.
you look for arbitrage opportunities between different currencies. i can’t remember whether he just exchanges currency or buys futures or what. i think it’s foolish but like i said, this guy’s got more money than two gods so he’s gotten very very lucky with it.
If he’s making money consistently, then he isn’t lucky
that is exactly what everyone who is lucky says.
Arbitrage is very different from buying into a currency as if it were a stock though.
It’s also pretty telling that all the crypto stuff is always measured in dollars. That said using usd does overall make money for the US by seigniorage.
Lol thx, I thought it was a typo
The second i is outrageous
That’s what I always tell people. A bitcoin or etherium or dogecoin or whatever they have is essentially valueless because it can’t be exchanged easily for goods and services. 100% of it’s value is derived from how much real, useable money you can exchange it for and nothing else.
Owning a dollar is an investment
Obvious troll is obvious.
Most sane .world world user be like
I wonder how much of Lemmy would disappear if I blocked .world
a lot of it.
No wonder the mods can be power trippers; they control most of Lemmy. Wasn’t decentralization supposed to prevent that? (Rhetorical question ).
Rhetorical answer