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Genuine question: why is crypto investment significantly more suspect than the casino that is the stock market?
It's not a "more suspect investment" as much as it is not an investment at all (in the marxist sense). Unless you are a crypto miner, you aren't a firm employing labor to produce crypto or process crypto transactions. You are literally the customer for crypto.
"Investing" in crypto currency by buying it is like "investing" in USD by buying USD paper bills, or "investing" in bread by buying bread at the supermarket. All in the hopes that you can then resell what you purchased at a higher price to someone else.
The only rational (in the mathematical sense) reason for anyone to buy currency of any type is to
However, a theoretically irrational action can be beneficial if you luck out. And the media tends to elevate the stories of irrational traders who lucked out, encouraging other people to behave irrationally.
While the public face of the stock market is all hype-driven speculation, there is a sizeable chunk of the market built on real industry and established companies with consistent low level growth and stability which retirement funds usually target in addition to treasury bonds. Crypto has none of that, it's all rampant speculation and hype.
there's even less regulation in crypto than in the stock market
Well, you know how the stock market pretends to be attached to like actual material things like capital and workers doing stuff and commerce happening? I mean in practice it's all just the vibes that the dumbest and most credulous rich dipshits alive feel when they look at a stock's name, but they've at least got the pretense of being related to material reality. It also has a giant cult of frantic, desperate belief around it to keep pumping those vibes up which is further backed up by immense amounts of state violence.
Crypto abandons even that in favor of just being mask off a pure speculative commodity built by no one with no use value or material form. It's 100% pure vibes all the time, serving the purpose of pumping and dumping monopoly money so the grifters who know it's a grift and are well positioned to take advantage of it can make out like bandits while everyone else gets fucked as the latest scheme collapses.
There is no expectation that it should go up (or down) because it doesn't generate cash flows or have industrial use. The price only reflects sentiment.
Because it’s even way more made up. Stocks are at least tangentially related to the commodities the companies produce and their personnel.
Something like crypto derivatives (options) is bullshit on bullshit on bullshit, literally bs^3
I thinks its just one more layer of abstraction at this point, basically one more middlemen. I'm pretty sure that behind all the stuff the big cryptoexchanges say, they just end up putting the dollars in the stock market, if not just straight up funding rug and pull projects to achieve their interest rates. In other words, they are literally just investment funds.