Anybody: Bitcoin/Crypto?
invite response
2018 Apr 5, 12:28pm 12,913 views 242 comments
by CJS ➕follow (0) 💰tip ignore
I'm heavy into the crypto game this year is any else?
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43
RWSGFY
2019 Jun 5, 10:12pm
RWSGFY
2019 Jun 5, 10:12pm
Newbie123 says
What have YOU won? Where are the screenshots of YOUR crypto holdings and trades?
Justin Sun (founder of Tron (TRX)) won a bid
What have YOU won? Where are the screenshots of YOUR crypto holdings and trades?
44
Onvacation
2019 Jun 6, 6:13am
Onvacation
2019 Jun 6, 6:13am
Newbie123 says
BecaSue bitcoin is a scam and one might think you are full of BS.
why I should send you evidence of my holdings?
BecaSue bitcoin is a scam and one might think you are full of BS.
45
WookieMan
2019 Jun 6, 6:23am
WookieMan
2019 Jun 6, 6:23am
Newbie123 says
If it was worth buying, people would just buy it... Seems like a $4.5M bet on a pump and dump scheme. I'm actually very sure that's what this is since I'm sure his holdings are rather large and even a slight bump probably covers his $4.5M gamble.
I also think you're misinterpreting the pushback here. Everyone knows you can make money trading this crap. We're arguing that there is zero actual, tangible value to it. No one, including you, on this site has ever given proper explanation what actual value there is. It's also why we ask to see a screen shot of holdings or even past trades. If this shit is soooooo valuable you should have a good time bragging about your "investment" but you haven't. Makes one think....
The 4.5M he spent to win this bid will provide him with plenty of media coverage and he might even convince good ol' Warren to buy some Tron.
If it was worth buying, people would just buy it... Seems like a $4.5M bet on a pump and dump scheme. I'm actually very sure that's what this is since I'm sure his holdings are rather large and even a slight bump probably covers his $4.5M gamble.
I also think you're misinterpreting the pushback here. Everyone knows you can make money trading this crap. We're arguing that there is zero actual, tangible value to it. No one, including you, on this site has ever given proper explanation what actual value there is. It's also why we ask to see a screen shot of holdings or even past trades. If this shit is soooooo valuable you should have a good time bragging about your "investment" but you haven't. Makes one think....
47
WookieMan
2019 Jun 6, 9:02am
WookieMan
2019 Jun 6, 9:02am
Onvacation says
Also, what's stopping a government from banning it? What is it, the tusks of elephants or rhino's that are super valuable (Ivory?), but you can go to jail in the US if you have some or be heavily fined. What's to stop a government from doing the same with crypto? Nothing.
If you don't know the answers to these questions, that's fine. Just understand that if you apply logic to what bitcoin is, it truly appears to be a scam. Make money while you can. No one has said it WON'T go to 100k, it could. I'm sure you've jumped around on the web to different investing forums. Your language and the way you talk sounds like a classic pump and dump poster on those forums. It happens for sure, albeit rare, but there are no get rich quick schemes for 99.999% of people on this planet. Have fun tryin and don't lose your a$$.
Newbie123 saysbitcoin is not a scam.
Can YOU tell us Bitcoin's intrinsic value?
Also, what's stopping a government from banning it? What is it, the tusks of elephants or rhino's that are super valuable (Ivory?), but you can go to jail in the US if you have some or be heavily fined. What's to stop a government from doing the same with crypto? Nothing.
If you don't know the answers to these questions, that's fine. Just understand that if you apply logic to what bitcoin is, it truly appears to be a scam. Make money while you can. No one has said it WON'T go to 100k, it could. I'm sure you've jumped around on the web to different investing forums. Your language and the way you talk sounds like a classic pump and dump poster on those forums. It happens for sure, albeit rare, but there are no get rich quick schemes for 99.999% of people on this planet. Have fun tryin and don't lose your a$$.
48
WookieMan
2019 Jun 6, 1:19pm
WookieMan
2019 Jun 6, 1:19pm
Newbie123 says
Keep believing the lie. Fine, keep it on a thumb drive all you want. The second you want to trade it or use it, it CAN be stolen. Hopefully you have multiple backups at different locations as well, none of them being on the cloud. It's scary silly how so many people think stuff is safe/secure just because people say it is. There's no motivation for someone trading it to state the obvious, so I'm not looking to change your mind/dogma, I know the response.
https://www.coindesk.com/hackers-steal-40-7-million-in-bitcoin-from-crypto-exchange-binance
https://www.cnbc.com/2018/06/07/1-point-1b-in-cryptocurrency-was-stolen-this-year-and-it-was-easy-to-do.html
https://www.vox.com/recode/2019/5/8/18537073/binance-hack-bitcoin-stolen-blockchain-security-safu
Trade safely is all I'll say. You can keep spewing jargon you've picked up on other websites, but you've still yet to answer the question in comment 59. You've basically only stated it's valuable just because it is.
No hacker, no CIA, no NSA. When you store bitcoin on a hardware wallet, nobody can access your funds because private keys cannot leave the hardware wallet.
Keep believing the lie. Fine, keep it on a thumb drive all you want. The second you want to trade it or use it, it CAN be stolen. Hopefully you have multiple backups at different locations as well, none of them being on the cloud. It's scary silly how so many people think stuff is safe/secure just because people say it is. There's no motivation for someone trading it to state the obvious, so I'm not looking to change your mind/dogma, I know the response.
https://www.coindesk.com/hackers-steal-40-7-million-in-bitcoin-from-crypto-exchange-binance
https://www.cnbc.com/2018/06/07/1-point-1b-in-cryptocurrency-was-stolen-this-year-and-it-was-easy-to-do.html
https://www.vox.com/recode/2019/5/8/18537073/binance-hack-bitcoin-stolen-blockchain-security-safu
Trade safely is all I'll say. You can keep spewing jargon you've picked up on other websites, but you've still yet to answer the question in comment 59. You've basically only stated it's valuable just because it is.
49
WookieMan
2019 Jun 6, 7:36pm
WookieMan
2019 Jun 6, 7:36pm
Newbie123 says
I didn't....
WookieMan says
I'm fully aware of how to store bitcoin. You still have to transfer the fucking shit at some point if you want to buy or sell it, right? Make that life changing moon money, lol. Use an exchange or don't. Use the internet or don't. You're off your rocker though if you don't understand that it can get stolen in a physical transfer or over the internet. Especially if the $ (lol, dollar) amount is high enough. People don't rob banks for fun. Robbing your house and holding you at gun point is a whole hell of a lot easier (this is not a threat, just a factual statement).
The only thing 99.99999% that is safe and secure in life is what's in your head. And even that can be forced out unless you're willing to die for it.
It's okay that you weren't able to make a lot of money doing other things. Chase the "dream" I suppose. I've not once said don't. You've deferred from answering a question asked multiple times though. What is the intrinsic value of Bitcoin or any other digital currency?
Ouch, you expose more and more your lack of knowledge.
I didn't....
WookieMan says
Fine, keep it on a thumb drive all you want.
I'm fully aware of how to store bitcoin. You still have to transfer the fucking shit at some point if you want to buy or sell it, right? Make that life changing moon money, lol. Use an exchange or don't. Use the internet or don't. You're off your rocker though if you don't understand that it can get stolen in a physical transfer or over the internet. Especially if the $ (lol, dollar) amount is high enough. People don't rob banks for fun. Robbing your house and holding you at gun point is a whole hell of a lot easier (this is not a threat, just a factual statement).
The only thing 99.99999% that is safe and secure in life is what's in your head. And even that can be forced out unless you're willing to die for it.
It's okay that you weren't able to make a lot of money doing other things. Chase the "dream" I suppose. I've not once said don't. You've deferred from answering a question asked multiple times though. What is the intrinsic value of Bitcoin or any other digital currency?
50
CBOEtrader
2019 Jun 6, 7:40pm
CBOEtrader
2019 Jun 6, 7:40pm
Newbie123 says
Dude, spending $4.5 million per investor meeting would be hard to make up for in volume
Smart move by Justin. The 4.5M he spent
Dude, spending $4.5 million per investor meeting would be hard to make up for in volume
51
CBOEtrader
2019 Jun 6, 7:42pm
CBOEtrader
2019 Jun 6, 7:42pm
WookieMan says
Doesn't ripple own a block chain currency exchange system on top of which they have connected multiple Central banks, and large institutions?
There's some intrinsic value there
or any other digital currency?
Doesn't ripple own a block chain currency exchange system on top of which they have connected multiple Central banks, and large institutions?
There's some intrinsic value there
53
WookieMan
2019 Jun 6, 7:57pm
WookieMan
2019 Jun 6, 7:57pm
CBOEtrader says
There's obviously trading value, I won't dispute that. But what you're talking about is no different than real estate brokers, mortgage brokers, attorneys, etc all skimming off the sale of a home. They're just trying to get their piece of a pie, but that doesn't legitimize crypto in this case. The difference is everyone needs a roof over their heads, nobody needs crypto. There's zero risk in "holding" crypto for someone and charging X% per transaction/transfer. Easy way to print money and not actually do much whether the value is 100k or 0. There's literally zero risk to these institutions. No FDIC or regulations for the most part. Your money goes to zero, fuck off, not our problem.
When nations start abandoning their currencies, basically the heart of their quasi "human" economy so to speak, then I'll start to think crypto is a thing. There's not much evidence of that happening. The USA will ban it or create their own form before they let some random techie create a currency out of thin air. If people wish otherwise, then expect an absolute meltdown of society. When the internet and power grid is down in that circumstance, your bitcoin means dick. Hope you have a gun(s), food and water. Cause no currency will help then.
WookieMan saysor any other digital currency?
Doesn't ripple own a block chain currency exchange system on top of which they have connected multiple Central banks, and large institutions?
There's some intrinsic value there
There's obviously trading value, I won't dispute that. But what you're talking about is no different than real estate brokers, mortgage brokers, attorneys, etc all skimming off the sale of a home. They're just trying to get their piece of a pie, but that doesn't legitimize crypto in this case. The difference is everyone needs a roof over their heads, nobody needs crypto. There's zero risk in "holding" crypto for someone and charging X% per transaction/transfer. Easy way to print money and not actually do much whether the value is 100k or 0. There's literally zero risk to these institutions. No FDIC or regulations for the most part. Your money goes to zero, fuck off, not our problem.
When nations start abandoning their currencies, basically the heart of their quasi "human" economy so to speak, then I'll start to think crypto is a thing. There's not much evidence of that happening. The USA will ban it or create their own form before they let some random techie create a currency out of thin air. If people wish otherwise, then expect an absolute meltdown of society. When the internet and power grid is down in that circumstance, your bitcoin means dick. Hope you have a gun(s), food and water. Cause no currency will help then.
54
CBOEtrader
2019 Jun 6, 10:06pm
CBOEtrader
2019 Jun 6, 10:06pm
WookieMan says
Ok, then why not invest in the infrastructure for the institutions? I believe that is ripples strategy.
I like their strategy
There's literally zero risk to these institutions.
Ok, then why not invest in the infrastructure for the institutions? I believe that is ripples strategy.
I like their strategy
55
WookieMan
2019 Jun 7, 5:41am
WookieMan
2019 Jun 7, 5:41am
CBOEtrader says
That's literally what I was getting at. And when I said zero risk, I also meant in the infrastructure as well. Most institutions can just duplicate existing hardware and software to get their piece of the pie. As long as it trades, there's value and ripple isn't bad/wrong to pursue it and is technically smart to cheaply game the system and take money from people rather easily. Same with Newbie123 want to make his moon coin on it. Fine go ahead. There's still the problem of there being actual value forever.
Silly example, but when Beanie Babies were super popular, I'm sure there where people out there making sites to list them for sale or trade and the site owner got piece of the action for creating a market place to make it easier to exchange them. Just like ripple is probably trying to do and other institutions. That doesn't validate that there is real value though. Just because there's value at one moment in time, doesn't mean it will be there down the road.
When no one cared anymore about Beanie Babies those guys just shut down their sites and moved on to the next thing and Susie Homemaker is left holding the bag on a $2k stuffed animal probably worth $40 now, because it really had no value.
And I know someone will bring this up so I'll head it off now. YES this can and does happen to stocks. But there's actual required reporting from the companies, funds, etc. on what is going on (trades by owners/board members, institutional ownership, cash on hand, revenue, etc). And I get Bitcoin is not a company, but there's not one person here or anywhere that knows who's holding what or what they're holding for.
As long as the war on drugs is around, don't think for a moment that if the DEA says bitcoin is funding the drug trade, that the US government won't shut down bitcoin exchanges if they wanted to. Would bitcoin still exist at that point, probably, but once the government puts their hands in it, the average Joe and institutional investors are going to run and run fast.
I mean for fucks sake, the government has banned a plant for almost 100 years and incarcerated who knows how many people for trading/selling it. But there's actual value to pot versus just an emotional value put on bitcoin because it had a huge run like Beanie Babies did.
Get what you can while you can, but I'd never have more than 1-2% of my liquid assets in this stuff.
Ok, then why not invest in the infrastructure for the institutions? I believe that is ripples strategy.
That's literally what I was getting at. And when I said zero risk, I also meant in the infrastructure as well. Most institutions can just duplicate existing hardware and software to get their piece of the pie. As long as it trades, there's value and ripple isn't bad/wrong to pursue it and is technically smart to cheaply game the system and take money from people rather easily. Same with Newbie123 want to make his moon coin on it. Fine go ahead. There's still the problem of there being actual value forever.
Silly example, but when Beanie Babies were super popular, I'm sure there where people out there making sites to list them for sale or trade and the site owner got piece of the action for creating a market place to make it easier to exchange them. Just like ripple is probably trying to do and other institutions. That doesn't validate that there is real value though. Just because there's value at one moment in time, doesn't mean it will be there down the road.
When no one cared anymore about Beanie Babies those guys just shut down their sites and moved on to the next thing and Susie Homemaker is left holding the bag on a $2k stuffed animal probably worth $40 now, because it really had no value.
And I know someone will bring this up so I'll head it off now. YES this can and does happen to stocks. But there's actual required reporting from the companies, funds, etc. on what is going on (trades by owners/board members, institutional ownership, cash on hand, revenue, etc). And I get Bitcoin is not a company, but there's not one person here or anywhere that knows who's holding what or what they're holding for.
As long as the war on drugs is around, don't think for a moment that if the DEA says bitcoin is funding the drug trade, that the US government won't shut down bitcoin exchanges if they wanted to. Would bitcoin still exist at that point, probably, but once the government puts their hands in it, the average Joe and institutional investors are going to run and run fast.
I mean for fucks sake, the government has banned a plant for almost 100 years and incarcerated who knows how many people for trading/selling it. But there's actual value to pot versus just an emotional value put on bitcoin because it had a huge run like Beanie Babies did.
Get what you can while you can, but I'd never have more than 1-2% of my liquid assets in this stuff.
56
WookieMan
2019 Jun 7, 6:14am
WookieMan
2019 Jun 7, 6:14am
Newbie123 says
There has been no debate in this thread. You just keep saying it's going to 6 digits. That's fine if you believe that, bitcoin/crypto seems to be your dogma at the moment so you're blinded by logical points of view brought up by some people here. Call me (others here) bashers/haters all you want, that's simply not the case. We're just pointing out logical flaws in it. I have bought and held bitcoin myself, so it's not like I haven't looked into it.
I'll ask this question taking a point from my last comment with CBOE to change it up instead of strictly asking about it's value. What happens if all the US exchanges are shut down by the US government because the DEA says it's funding drug trade and all small or big institutions are forced to shut down their exchanges? What happens to the value? Would you trust foreign exchanges to make a trade? Or are you physically going to trade it with others or peer to peer over the internet? You think it would be 6 figures then?
There are a lot of silly fucking things our government has made illegal in the past and present. Don't think for a moment that your precious bitcoin is safe from the powerful grip of the US government. This isn't a bashing comment, it's a logical and very realistic point of view. I'll make up an acronym right now. You have FOLAYM (Fear Of Losing All Your Money) (fo-lay-em). You fear you're going to lose your money, so you go from website forums and articles and try to pump it up and convert people into thinking it's worth investing in. The more people invested in a finite product, the more valuable it seems to be.
Just go build a site like this one and create your own content like you have here to pump it ( @Patrick - you still able to do the create your own forum/site stuff). If you get enough traffic you could maybe sell some ad space. You could still trade crypto, but why not make a little extra cash in the process? I mean it's going to the moon, so it's another revenue stream that doesn't take that much work and seems pretty foolproof.
In my opinion it’s a total waste of time to debate intrinsic value.
There has been no debate in this thread. You just keep saying it's going to 6 digits. That's fine if you believe that, bitcoin/crypto seems to be your dogma at the moment so you're blinded by logical points of view brought up by some people here. Call me (others here) bashers/haters all you want, that's simply not the case. We're just pointing out logical flaws in it. I have bought and held bitcoin myself, so it's not like I haven't looked into it.
I'll ask this question taking a point from my last comment with CBOE to change it up instead of strictly asking about it's value. What happens if all the US exchanges are shut down by the US government because the DEA says it's funding drug trade and all small or big institutions are forced to shut down their exchanges? What happens to the value? Would you trust foreign exchanges to make a trade? Or are you physically going to trade it with others or peer to peer over the internet? You think it would be 6 figures then?
There are a lot of silly fucking things our government has made illegal in the past and present. Don't think for a moment that your precious bitcoin is safe from the powerful grip of the US government. This isn't a bashing comment, it's a logical and very realistic point of view. I'll make up an acronym right now. You have FOLAYM (Fear Of Losing All Your Money) (fo-lay-em). You fear you're going to lose your money, so you go from website forums and articles and try to pump it up and convert people into thinking it's worth investing in. The more people invested in a finite product, the more valuable it seems to be.
Just go build a site like this one and create your own content like you have here to pump it ( @Patrick - you still able to do the create your own forum/site stuff). If you get enough traffic you could maybe sell some ad space. You could still trade crypto, but why not make a little extra cash in the process? I mean it's going to the moon, so it's another revenue stream that doesn't take that much work and seems pretty foolproof.
58
Onvacation
2019 Jun 7, 6:58am
Onvacation
2019 Jun 7, 6:58am
Newbie123 says
Where did you get your software engineering degree? There are people here on patnet that do understand blockchain and know that it is just a matter of time before btc meets its demise.
Bitcoin has negative intrinsic value. It costs just to keep it going. There is no underlying asset. It only has value if a fool greater than you is willing to pay good fiat for your string of zeros and ones. Even its extrinsic value is fleeting.
You don't answer the question of intrinsic value because Bitcoin has none.
There is lack of understanding of basics around this technology
Where did you get your software engineering degree? There are people here on patnet that do understand blockchain and know that it is just a matter of time before btc meets its demise.
Bitcoin has negative intrinsic value. It costs just to keep it going. There is no underlying asset. It only has value if a fool greater than you is willing to pay good fiat for your string of zeros and ones. Even its extrinsic value is fleeting.
You don't answer the question of intrinsic value because Bitcoin has none.
60
Onvacation
2019 Jun 7, 7:03am
Onvacation
2019 Jun 7, 7:03am
Newbie123 says
Because there is none.
n my opinion it’s a total waste of time to debate intrinsic value
Because there is none.
61
Onvacation
2019 Jun 7, 7:25am
Onvacation
2019 Jun 7, 7:25am
Newbie123 says
Speculate. You don't invest in ponzi schemes you speculate that you will not be the last greatest fool.
invest in bitcoin or other cryptos
Speculate. You don't invest in ponzi schemes you speculate that you will not be the last greatest fool.
62
WookieMan
2019 Jun 7, 7:38am
WookieMan
2019 Jun 7, 7:38am
Newbie123 says
No one here is triggered by bitcoin news, lol. You came into this thread with grand claims of a parabolic spike in a valueless thing with zero supporting evidence beside FOMO and videos that are actually mocking bitcoin. Great investment advice.
Not going back through all the comments (this thread or others), but not one person here has said you CAN'T make money with it. So not sure how we could be triggered or be bashers. This a logic/reasoning conversation. There's no argument here. It was worthless for 8 years or however long until a flash in the pan event made it skyrocket. Eventually the rocket runs out of fuel and comes crashing back to the ground. It's in a dead cat bounce in my opinion. Just make sure when you buy the dip, it wasn't actually the last peak.
If you feel triggered by bitcoin news or don’t like seeing people cheering when adoption increases or the price keeps going up, feel free to ignore me.
No one here is triggered by bitcoin news, lol. You came into this thread with grand claims of a parabolic spike in a valueless thing with zero supporting evidence beside FOMO and videos that are actually mocking bitcoin. Great investment advice.
Not going back through all the comments (this thread or others), but not one person here has said you CAN'T make money with it. So not sure how we could be triggered or be bashers. This a logic/reasoning conversation. There's no argument here. It was worthless for 8 years or however long until a flash in the pan event made it skyrocket. Eventually the rocket runs out of fuel and comes crashing back to the ground. It's in a dead cat bounce in my opinion. Just make sure when you buy the dip, it wasn't actually the last peak.
64
CBOEtrader
2019 Jun 7, 1:34pm
CBOEtrader
2019 Jun 7, 1:34pm
WookieMan says
100% wrong.
Most institutions can just duplicate existing hardware and software to get their piece of the pie.
100% wrong.
65
CBOEtrader
2019 Jun 7, 1:38pm
CBOEtrader
2019 Jun 7, 1:38pm
WookieMan says
It? Ripple can exchange anything via their infrastructure. That's the point. Their exchange network is potentially a competitive advantage that can not be replicated.
Ofc, they must be first to the space. They seem to be.
As long as it trades, there's value and ripple isn't bad/wrong to pursue it and is technically smart to cheaply game the system and take money from people rather easily.
It? Ripple can exchange anything via their infrastructure. That's the point. Their exchange network is potentially a competitive advantage that can not be replicated.
Ofc, they must be first to the space. They seem to be.
66
Onvacation
2019 Jun 7, 3:14pm
Onvacation
2019 Jun 7, 3:14pm
Bitcoin consumes almost the same amount of energy as Ireland.
What happens to the blockchain when miners stop mining?
What happens to the blockchain when miners stop mining?
67
CBOEtrader
2019 Jun 8, 12:42pm
CBOEtrader
2019 Jun 8, 12:42pm
Onvacation says
They use ripple instead.
Bitcoin is like the AOL of internet giants. Eventually people will get annoyed at it's built in limitations and use more utilitarian cryptos.
Bitcoin consumes almost the same amount of energy as Ireland.
What happens to the blockchain when miners stop mining?
They use ripple instead.
Bitcoin is like the AOL of internet giants. Eventually people will get annoyed at it's built in limitations and use more utilitarian cryptos.
68
Onvacation
2019 Jun 8, 2:09pm
Onvacation
2019 Jun 8, 2:09pm
Newbie123 says
Or they're supplying a demand.
HODL2Z!
Sounds like Samsung’s betting on bitcoin to be around for a while longer.
Or they're supplying a demand.
HODL2Z!
69
Onvacation
2019 Jun 9, 9:10am
Onvacation
2019 Jun 9, 9:10am
Newbie123 says
Please explain how you can physically deliver bitcoin. And while your at it, what is the intrinsic value of 0s and 1s?
physically delivered bitcoin
Please explain how you can physically deliver bitcoin. And while your at it, what is the intrinsic value of 0s and 1s?
70
Onvacation
2019 Jun 9, 9:51am
Onvacation
2019 Jun 9, 9:51am
Newbie123 says
You could just say, "I have no fucking clue."
any questions, concerns, disbelief regarding the article: Pls contact Reuters.
You could just say, "I have no fucking clue."
72
Onvacation
2019 Jun 9, 1:55pm
Onvacation
2019 Jun 9, 1:55pm
Newbie123 says
Do you even understand what intrinsic means?
I can tell you the current value of one bitcoin
Do you even understand what intrinsic means?
74
Onvacation
2019 Jun 9, 8:26pm
Onvacation
2019 Jun 9, 8:26pm
Newbie123 says
I'm not the one holding a string of 0s and 1s and thinking they are better than gold.
No-coiners/Bitcoin haters
I'm not the one holding a string of 0s and 1s and thinking they are better than gold.
75
CBOEtrader
2019 Jun 9, 9:04pm
CBOEtrader
2019 Jun 9, 9:04pm
Onvacation says
We are all guilty
Newbie123 saysNo-coiners/Bitcoin haters
I'm not the one holding a string of 0s and 1s and thinking they are better than gold.
We are all guilty
76
Onvacation
2019 Jun 9, 9:50pm
Onvacation
2019 Jun 9, 9:50pm
CBOEtrader says
So true.
It's a fiat world and things have value just because someone says so; beanie babies. What are our brokerage accounts but 0s and 1s on a computer somewhere.
Bitcoin is just the ultimate example of value just because someone says so. It has no intrinsic value. It's supposed extrinsic value is as a currency and untraceable method of exchange or an "asset" that they hope will increase in value.
They even "mine" cryptocurrency.
I know some people gamble with crypto with hopes of selling before the bubble pops when people see that "big daddy" is naked. Others think it is the best thing since sllced bread.
Consider this; the amount of money in crypto exceeds the value of all known silver in the world.
The following charts were from before bitcoin crashed so now the crypto to silver ratios are lower.
We are all guilty
So true.
It's a fiat world and things have value just because someone says so; beanie babies. What are our brokerage accounts but 0s and 1s on a computer somewhere.
Bitcoin is just the ultimate example of value just because someone says so. It has no intrinsic value. It's supposed extrinsic value is as a currency and untraceable method of exchange or an "asset" that they hope will increase in value.
They even "mine" cryptocurrency.
I know some people gamble with crypto with hopes of selling before the bubble pops when people see that "big daddy" is naked. Others think it is the best thing since sllced bread.
Consider this; the amount of money in crypto exceeds the value of all known silver in the world.
The following charts were from before bitcoin crashed so now the crypto to silver ratios are lower.
77
WookieMan
2019 Jun 10, 4:32am
WookieMan
2019 Jun 10, 4:32am
Newbie123 says
Why didn't you include the $ sign? I mean ultimately that's the currency you'll use and why you hope the "value" of crypto goes up.
CBOEtrader says
Cool. It can't be replicated..... yet they're trying to do the same thing Visa does for credit cards. Hopefully Visa doesn't find out that someone is trying to do something that has been possible for a decade or so.... They probably couldn't replicate what ripple is doing at all... From their own website (which is a treasure trove of BS)...
https://ripple.com/xrp/
Then there's this
My XRP was stolen. What do I do?
https://ripple.com/faq/
Just call/contact the FBI... LO fucking L. Like they'll give a flying fuck.
Newbie123 says
Name one. Then explain why it's wrong.
I can tell you the current value of one bitcoin (BTC): 7600 ish.
Why didn't you include the $ sign? I mean ultimately that's the currency you'll use and why you hope the "value" of crypto goes up.
CBOEtrader says
It? Ripple can exchange anything via their infrastructure. That's the point. Their exchange network is potentially a competitive advantage that can not be replicated.
Cool. It can't be replicated..... yet they're trying to do the same thing Visa does for credit cards. Hopefully Visa doesn't find out that someone is trying to do something that has been possible for a decade or so.... They probably couldn't replicate what ripple is doing at all... From their own website (which is a treasure trove of BS)...
XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa.*
https://ripple.com/xrp/
Then there's this
My XRP was stolen. What do I do?
https://ripple.com/faq/
Just call/contact the FBI... LO fucking L. Like they'll give a flying fuck.
Newbie123 says
Exactly! Wookie has been wrong on so many levels/topics.
Name one. Then explain why it's wrong.
78
Onvacation
2019 Jun 10, 6:11am
Onvacation
2019 Jun 10, 6:11am
Newbie123 says
After all, they have the same intrinsic value.
The question is, Is bitcoin digital gold and will overtake physical gold some day?
After all, they have the same intrinsic value.
79
WookieMan
2019 Jun 10, 6:45am
WookieMan
2019 Jun 10, 6:45am
Newbie123 says
You should change your name to Dodge123. Better fit...
Interesting read. A former IBM executive believes Bitcoin will hit a 1mio dollar price per coin within the next decade. A member of PayPal’s board of director joins the prediction.
https://finance.yahoo.com/news/most-insane-1-million-beyond-193017764.html
You should change your name to Dodge123. Better fit...
80
CBOEtrader
2019 Jun 10, 7:13am
CBOEtrader
2019 Jun 10, 7:13am
WookieMan says
This was in context of suggesting physical infrastructure and/or code are easy to replicate. They arent, not even close.
Tha doesn't make you right/wrong about Bitcoin though.
Heres what we know for sure: 1)most of the world is looking for a replacement for the dollar . 2)dollars are fiat. 3) im-fucking-possible for gold to back transactions . Doing so would effectively make gold fiat, in that 99% of it's value would be for exchange of other goods not the value of the metal. 4)cryptos are the best thing we've invented so far to replace fiat dollars.
Conclusion : I'm keeping about 20% of my investments in cryptos, mostly ripple for the infrastructure they've built.
Newbie123 saysExactly! Wookie has been wrong on so many levels/topics.
Name one. Then explain why it's wrong.
This was in context of suggesting physical infrastructure and/or code are easy to replicate. They arent, not even close.
Tha doesn't make you right/wrong about Bitcoin though.
Heres what we know for sure: 1)most of the world is looking for a replacement for the dollar . 2)dollars are fiat. 3) im-fucking-possible for gold to back transactions . Doing so would effectively make gold fiat, in that 99% of it's value would be for exchange of other goods not the value of the metal. 4)cryptos are the best thing we've invented so far to replace fiat dollars.
Conclusion : I'm keeping about 20% of my investments in cryptos, mostly ripple for the infrastructure they've built.
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