Crypto stocks fall more than currency

I think that cryptocurrency is a Ponzi scheme. I wouldn’t touch it with a 10-foot pole.
But speculative METARs might want to know that crypto companies are doing even worse.…

**Crypto Stocks Perform Worse Than Cryptocurrencies**
**Coinbase is off 42% so far this year as trading volume sinks; Silvergate Capital, Marathon Digital and Riot Blockchain are down sharply as well**
**By Paul Vigna, The Wall Street Journal, April 19, 2022**

**The cryptocurrency market has been in selloff mode recently even as hundreds of millions of people now trade bitcoin, ether and other digital assets. Bitcoin is down 12% this year. Ether is down 19%. The entire crypto market has fallen about 19%, though prices are off their year lows, according to data from CoinMarketCap.**

**Stocks of publicly traded, crypto-focused companies, however, are doing worse, falling as much as 60% so far this year, according to FactSet. ...The combined market capitalization of crypto companies that trade publicly has fallen to roughly $60 billion from $100 billion in November...** [end quote]

I’m stunned that people gambled so much money on these stocks. The companies earn profits (if any) from processing crypto transactions and keeping the networks alive. If people use less cryptocurrency (which has been the case recently) the companies earn less.

Analysts slashed their estimates of Coinbase’s first-quarter earnings per share from $1.89 in November to 2 cents in April, according to analysts on FactSet.…



I am not invested in these assets. Selling NFTs later this year I watch this in part. The “Difficulty Bomb” aimed at the Ethereum blockchain is at the heart of this. Going to proof of stake for Eth is a big thing. Bitcoin not doing so is a major thing.

We are all waiting for mid June to see what happens. The due date for the Difficulty Bomb.


I think that cryptocurrency is a Ponzi scheme. I wouldn’t touch it with a 10-foot pole.

Concur, in spades.

My most fav parts about crypto are:

A. Berkshire’s managers Buffet and Munger and;

B. Jamie Dimon at JP Morgan (“this is not going to end well”)
(Granted, JD has later softened his observation of crypto, but…)

But my very MOST fav of the concept:
Totally concealable transactions that would be perfect for all folks wanting to conceal illegal drugs, sex, clandestine deals.

(Why would any government on the planet Earth object to crypto???)

Crypto has Dutch Tulips emblazoned all over it.