Crypto is Not Stock?

More often than I am comfortable with, I will see a post referring to the 'bubble' that we are in and then inevitably mentions of the stock markets and comparisons are made and less than favorable things are said about crypto.

Take this post for example:

Stock prices reflect beliefs about future sales. Ultimately, stock ownership reflects an interest in those sales. Crypto represents no interest in a company or its sales. Its price does not reflect a belief in a company’s sales. In fact, for the most part, the higher the price the less useful the crypto becomes. The result is that people mistakenly think that prices must recover or that existing prices are undervalued or that the handful of surviving cryptos will rise from the ashes like Amazon or Netflix and be worth a great deal more. But those stocks, again, rose on the earnings prospects of the companies because the owners of those stocks owned an interest in those earnings prospects. On the other hand, people speculated on any “.com”business in the hopes of getting rich quick and the bubble destroyed many dreams. This is about the only thing that crypto speculation has in common with the dot-com bubble.

 DavidScubadiver (redditor for 2 months at the time of posting)


Posts like this can lead potential investors to believe that crypto has no intrinsic value of it's own and comments in response, like this, only fuel that fire:

I cringe every time someone says “correction”. There’s no underlying asset so there’s nothing to correct to.

ct03 (reddit)


The only sensible response to this:

Not true at all. Good crypto investments have value based on their utility. The problems they solve. The revenue they generate from people using them. Their scarcity. In some cases - proof of work. You are buying ownership that cannot simply be copied/forged or duplicated without everyone knowing youve done so (like a shit btc fork). If you have invested in crypto and you think it intrinsically has zero value because it is not a stock. Go home. You don't understand how crypto is changing the game.