Bitcoins/Litecoins/Virtual Currencies

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Tuco

Tuco

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Tuco said:
Im telling u guys its the time to buy btc. Its about to go to the fucking moon
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Everyone print out this post and use it as a suicide note for when you realize you could've followed my advice and retired in two years.
 
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BrutulTM

BrutulTM

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a_skeleton_03 said:
The tech has a huge aspect of why it's worth what it is though.

You have your money in a bank right now because of the "tech" involved like FDIC and other securities. This involves a paradigm shift when you think about what keeps your money actually working.
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Sure, but if your money was changing value every 30 seconds and there was basically no one that would actually take it as payment the FDIC wouldn't do you a whole lot of good. It's either a currency or an investment. If it's a good investment, that means it's not a good currency, and vice versa. Right now people are treating it as an investment, and as long as they're doing that it will never be an actual useable currency, and if it's not a useable currency, you might as well be trading pokemon cards.
 
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A

a_skeleton_03

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BrutulTM said:
Sure, but if your money was changing value every 30 seconds and there was basically no one that would actually take it as payment the FDIC wouldn't do you a whole lot of good. It's either a currency or an investment. If it's a good investment, that means it's not a good currency, and vice versa. Right now people are treating it as an investment, and as long as they're doing that it will never be an actual useable currency, and if it's not a useable currency, you might as well be trading pokemon cards.
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The money changing value isn't part of the plan, you know that right?

You are complaining about something that is volatile while ignoring the volatility of the stock market like it isn't almost identical in nature. The difference has everything to do with one being a vehicle to invest wealth in and the other is the actual currency.

We can't have that volatility if you want crypto to succeed well and I agree. That isn't the fault of it though but the people that are unaware of how and why it is working.
 
Ravishing

Ravishing

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BrutulTM said:
Sure, but if your money was changing value every 30 seconds and there was basically no one that would actually take it as payment the FDIC wouldn't do you a whole lot of good. It's either a currency or an investment. If it's a good investment, that means it's not a good currency, and vice versa. Right now people are treating it as an investment, and as long as they're doing that it will never be an actual useable currency, and if it's not a useable currency, you might as well be trading pokemon cards.
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It's going to need to stabilize before it can be used as currency. This is true.
You know actual currencies are invested and traded? It's not new to crypto. Currencies can be invested in, and are, daily.
 
Khane

Khane

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There's a whole lot of "violent agreement" and talking past each other in this thread.
 
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BrutulTM

BrutulTM

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a_skeleton_03 said:
The money changing value isn't part of the plan, you know that right?

You are complaining about something that is volatile while ignoring the volatility of the stock market like it isn't almost identical in nature. The difference has everything to do with one being a vehicle to invest wealth in and the other is the actual currency.
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It's not identical because in the stock market you actually own part of a company that theoretically produces things and has assets and such. That's what I mean by fundamentals. Bitcoin only has any value because people like gambling on it. It's possible that a company can just cease to exist, but that doesn't happen to good companies and if you invest in bullshit startups then you're gambling just like you are with bitcoin.

Ravishing said:
You know actual currencies are invested and traded? It's not new to crypto. Currencies can be invested in, and are, daily.
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Of course, but you don't make large gains in them unless it's a shit currency from a country whose economy is circling the drain.
 
Gravel

Gravel

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BrutulTM said:
It's not identical because in the stock market you actually own part of a company that theoretically produces things and has assets and such. That's what I mean by fundamentals. Bitcoin only has any value because people like gambling on it. It's possible that a company can just cease to exist, but that doesn't happen to good companies and if you invest in bullshit startups then you're gambling just like you are with bitcoin.



Of course, but you don't make large gains in them unless it's a shit currency from a country whose economy is circling the drain.
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People always forget about dividends when talking about stock.

Even in shitty markets, companies still pay out dividends. They may be less if the company brings in significantly less revenue due to a depressed economy, but more than likely you'll be getting a couple percent return on your investment every year. And that's because stock is ownership in the company. If you get no return on taking the risk of capital by owning a company, what the fuck is the point?
 
A

a_skeleton_03

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BrutulTM said:
It's not identical because in the stock market you actually own part of a company that theoretically produces things and has assets and such. That's what I mean by fundamentals. Bitcoin only has any value because people like gambling on it. It's possible that a company can just cease to exist, but that doesn't happen to good companies and if you invest in bullshit startups then you're gambling just like you are with bitcoin.



Of course, but you don't make large gains in them unless it's a shit currency from a country whose economy is circling the drain.
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Would it blow your mind that the amount of crypto you have gives you just as much voting power as stocks for an actual company?
 
Khane

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I watched the documentary that's on Netflix on that guy. He is a lunatic.
 
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wormie

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Lunatic is putting it mildly I think. It amuses me that plenty of people shared that lunatics opinion.
 
Keystone

Keystone

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You make it sound like people believe in Blockchain because that wackjob says to.....I assure you that isn't always the case.
 
iannis

iannis

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Nah, it's just that guy is a lunatic in particular.

How is it even a GOOD thing that a currency is impossible to correct? Doesn't that negate the entire point of a currency?

I'm sure it makes sense in his homocidal bath-salts world. Significant brain damage on that guy. No joke about the bath salts. Dude fucked his brain up. It happens. It's sad. But he's got McCaffe money, so it's funny.
 
wormie

Asshat wormie

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He wasnt the only person saying exactly that same thing. Plenty of experts and not crazies said the same thing as him. Mathematics of blockchain, lol.
 
Springbok

Springbok

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ROFL, just made the mistake of looking that the dudes twitter.... ho-leee feck. He's absolutely deranged
 
Ravishing

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Block chain does good:

"HAHhaha told you so! Invest invest its going to the moon!!! Tech is amazing awesome infallible!"



Block chain does bad:

"HahHAHA told you so! Tech is garbage no fundamentals I'm so happy you morons lost all your monies!!!!"
 
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BrutulTM

BrutulTM

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Ravishing

Ravishing

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BrutulTM said:
I never said anything about blockchain, nor did I say the tech was garbage, so try to work on your straw men.

Harvard Economist: Bitcoin’s Future Value More Likely to Be $100 Than $100K
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I was mainly piggybacking Wormie & Keystones latest posts. You seem very sensitive to take this so personally. This was posted 10 days after your last post in this thread, I had to scroll up to even see if it had relevance to our past discussion. Believe me, I had completely forgotten our conversation and who you even are.
 
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