Now we have Bitcoin and Ethereum. Both are booming yet none of them can be considered a DAC
It seems to be the only correct statement in the paragraph.
Talking about Bitcoin we should consider it as a currency, not as a share.
What kind of dividends can you expect from holding a $100?
It's the issuer of the currency who gets profit - in he case of BTC it's the miner.
Profitability of such a bussiness we can always evaluate eg here.
And what about this bold statement:
Economically Bitcoin makes no sense - it is the most inefficient payment system that has ever existed.
Is everyone of the upvoters totally agree? Look at the market, is it wrong in his assessments?
Bitcoin is not just a currency similar to fiat, it's a also a mechanism to move value around. The cost of a single Bitcoin transaction currently stands at $10. Taking into account only miners' profitability, instead of the whole system profitability, is completely flawed.
I am not saying the market evaluation is wrong. I'm just pointing out the paradox that we currently witness. When you buy BTC or ETH, all you do is bet on the fact that there will be another person in the future who will buy it from you at a higher price. This has nothing to do with actual economical inefficiency of those systems. We have high market evaluation despite those inefficiencies.
what do you mean and how do you measure that? What is eg the whole system profitability for the dollar in your terms?
When I am trading @ forex I do the same bets and it has something to do with the market assessments of the relative economical (in)efficiencies of the systems :-)