Crypto Currency Thread

[James_B]

Some Gump said:

you clearly either missed the point, lacked the intelligence to understand it, or failed to take a long term view. Bitcoin is the future. Its doesnt matter if it has a use or not now, the uses for it in the future are clear.for all to see. I shouldn't have to spell them out for you.

This is exactly the sort of post you get from conspiracy theorists about the flat earth, or faked moon landings; accusations that everyone else lacks the intelligence to see what they have seen.

For some reason you guys all disregard every expert that disagrees with you, and jump to crazy YouTube videos as supposed proof.

The overlap between crypto zealots and conspiracy theorists must be huge, there surely can’t be two groups who construct their arguments so similarly and who are as convinced as each other that despite working in a paper shop and living at home they are really savants who have seen further than all of the so-called experts.

Do you believe any of the big “Grand Conspiracies”? Moon landings, chemtrails, new world order, bilderberg, Mandela apeffect etc?

Edited to add, this is still not an ad-hominem attack, I am not saying that your arguments are wrong because you are not experts, and seem to be conspiracy theorists, I am asking why you think you know best despite not seeming very well versed in finance or economics.

Edited by James_B on Monday 17th September 21:42

[James_B]

Behemoth said:

I'm not sure you quite grasp what an ad hominem is, whilst being happy to redeploy one

I do, you don’t. It’s arguing that a person’s argument is wrong because of a characteristic of the person making the argument.

Asking if you believe in conspiracy theories is not one, saying that we should not belief someone’s argument as they are an idiot is a prime example of one.

Do you genuinely not understand this?

[dimots]

James_B said:

I do, you don’t. It’s arguing that a person’s argument is wrong because of a characteristic of the person making the argument.

Asking if you believe in conspiracy theories is not one, saying that we should not belief someone’s argument as they are an idiot is a prime example of one.

Do you genuinely not understand this?

Asking someone if they believe in conspiracy theories whilst arguing about an unrelated topic is pretty much the dictionary definition of an ad hominem attack.

[Behemoth]

James_B said:

I do, you don’t. It’s arguing that a person’s argument is wrong because of a characteristic of the person making the argument.

Asking if you believe in conspiracy theories is not one, saying that we should not belief someone’s argument as they are an idiot is a prime example of one.

Do you genuinely not understand this?

If you seriously believe a brazen attempt to discredit someone by implying false association via a loaded question is not ad hominem, then maybe we should be questioning your integrity rather than mine

I don't remember calling anyone an idiot in this thread, at least not recently.

Thank you, Dimots.

[bongtom]

I think he was referring to your views on the bloke who was quoted in a link.

I’ve saud it before. You’ve obviously got some financial interests in Crypto otherwise why else would you spend so much time defending it.

[Behemoth]

bongtom said:

I think he was referring to your views on the bloke who was quoted in a link.

I’ve saud it before. You’ve obviously got some financial interests in Crypto otherwise why else would you spend so much time defending it.

I didn't disparage any bloke quoted in a link. Wow, do you think those regularly posting in the Lotus section on here might have a Lotus? Great insight, who knew?!

Most of my time here is spent countering misconceptions and untruths. I prefer to do so by referencing facts and insightful, rational research. What's more interesting is why someone without any financial interest in crypto would bother repeatedly visiting this thread. Even more so if they don't offer rational discussion.

[JaredVannett]

Anyone watching XRP [Ripple] right now?

[Badda]

bongtom said:

I think he was referring to your views on the bloke who was quoted in a link.

I’ve saud it before. You’ve obviously got some financial interests in Crypto otherwise why else would you spend so much time defending it.

Do you honestly think the market would shift if Behemoth convinced PHers one way or the other.

I don't believe in 'investing' in bitcoin but I do think Behemoth believes in it and it's interesting to read his side of the story.

[NRS]

Badda said:

bongtom said:

I think he was referring to your views on the bloke who was quoted in a link.

I’ve saud it before. You’ve obviously got some financial interests in Crypto otherwise why else would you spend so much time defending it.

Do you honestly think the market would shift if Behemoth convinced PHers one way or the other.

I don't believe in 'investing' in bitcoin but I do think Behemoth believes in it and it's interesting to read his side of the story.

I would say Behemoth is a decent person to have in the debate. I disagree with him on some things, but generally he's always been very open about a lot of the problems with crypto as it currently stands (loads of useless coins, issues caused by volatility etc. His view then is this will be sorted long term, whereas doubters would view this as not being the case. Either could be correct. There are some other posters who I would say are more just wild fans, completely ignoring the weaknesses etc and are more like religious people just believing it will work despite several big issues.

[Guvernator]

NRS said:

I would say Behemoth is a decent person to have in the debate. I disagree with him on some things, but generally he's always been very open about a lot of the problems with crypto as it currently stands (loads of useless coins, issues caused by volatility etc. His view then is this will be sorted long term, whereas doubters would view this as not being the case. Either could be correct. There are some other posters who I would say are more just wild fans, completely ignoring the weaknesses etc and are more like religious people just believing it will work despite several big issues.

Equally there are some people on the thread who have no stake in the game but seem to be purely here to say nah nah nah, Crypto is dead, I told you so. I can sort of get my head around people with stake in the game having positive bias, it's human nature to believe in something you have a vested interest in after all but can't understand the latter group at all. Seriously what is the draw in coming on here to repeatedly tell people it's all a load of rubbish and rubbing there hands with glee every time the crypto market tanks unless they are guilty of exactly what they accuse Crypto investors of, FOMO.

Edited by Guvernator on Tuesday 18th September 17:34

[bongtom]

I never said I didn’t invest in crypto.

[NRS]

Guvernator said:

Equally there are some people on the thread who have no stake in the game but seem to be purely here to say nah nah nah, Crypto is dead, I told you so. I can sort of get my head around people with stake in the game having positive bias, it's human nature to believe in something you have a vested interest in after all but can't understand the latter group at. Seriously what is the draw in coming on here to repeatedly tell people it's all a load of rubbish and rubbing there hands with glee every time the crypto market tanks unless they are guilty of exactly what they accuse Crypto investors of, FOMO.

I suspect it's because many of the Crypto enthusiasts were "right" and very public during the ramping in the bubble. So now the "other side" is taking a lot of pleasure in being right now. There might also be some part towards trying to protect the stupid too - some people might consider getting in when it's say, 50% cheaper than it used to be, so is good value. However than doesn't mean it is good value. I think it's important to have both sides to make more valid opinions though, otherwise it becomes an empty echo chamber.

[Guvernator]

Personally I think it's way too early to tell whether Crypto currency has a future or not so I just find it a bit weird when people make proclamations like "Crypto is the future" or "Crypto is dead".

[Condi]

Guvernator said:

Equally there are some people on the thread who have no stake in the game but seem to be purely here to say nah nah nah, Crypto is dead, I told you so. I can sort of get my head around people with stake in the game having positive bias, it's human nature to believe in something you have a vested interest in after all but can't understand the latter group at all. Seriously what is the draw in coming on here to repeatedly tell people it's all a load of rubbish and rubbing there hands with glee every time the crypto market tanks unless they are guilty of exactly what they accuse Crypto investors of, FOMO.

Nothing to do with FOMO, but everything to do with an understanding of markets and products, and a traders love of being right when the market is wrong.


Also providing a counter argument and some common sense when everyone is talking a market up. If nothing else it promotes discussion and a chance for people to form their own opinions.

[Emeye]

I have been watching crypto from a short distance for a while now but have not invested.

i have a couple of friends who invested a few thousand and then took out their original investment when it doubled and left the rest in. They are happy, but I cannot see it as anything other than gambling or a scam until it can be guaranteed that when you click to sell, the transaction always goes through straight away and you get your money - but to provide that would require legistlation - catch22?

[p1stonhead]

Emeye said:

I have been watching crypto from a short distance for a while now but have not invested.

i have a couple of friends who invested a few thousand and then took out their original investment when it doubled and left the rest in. They are happy, but I cannot see it as anything other than gambling or a scam until it can be guaranteed that when you click to sell, the transaction always goes through straight away and you get your money - but to provide that would require legistlation - catch22?

A lot of the bit selling sites 'crashed' when the price got really high last year so people couldnt sell and get their money out. Convenient.

[DonkeyApple]

Thesprucegoose said:

You make a white paper, talk about billion pound market, swap your stupid token for eth and BTC. Retain a vast proportion of your tokens as well. Work out a bedsit whilst sitting laughing at all the suckers who backed you.

Drag this out for years saying you've been delayed etc. In the meantime cash out your eth and BTC and st tokens and retire to the sun. Rinse and repeat. It was all well whilst BTC and eth price went higher now it is pretty much fked they have only made a few million instead of the hundreds of millions.

They whole ico world is shady as fk but seems to tapped into a market disenfranchised with the stock exchange, the millennials. The crash affected them the most and I would bet the under 30 make up a massive share of ico backers.

And strangely, what you have described is just the penny share model. Nothing ever changes. It’s always the same, it just needs a lick of paint and a different name to ensure the same old, same old appeals to the next group.

[dimots]

DonkeyApple said:

And strangely, what you have described is just the penny share model. Nothing ever changes. It’s always the same, it just needs a lick of paint and a different name to ensure the same old, same old appeals to the next group.

But these are simply bad products trading off bitcoin’s popularity. Nothing to do with bitcoin. Not pork bellies to pigs or anything like that. Anyone who understood the technology even a little wouldn’t be taken in by any of this. I find it bizarre that everyone is so fixated by the scams.

[Behemoth]

It looks like we'll see some specific regulation in the UK.

https://www.ft.com/content/dbea3cac-bb3c-11e8-8274...

[NickCQ]

Bringing things a little bit back on track, what's the current status on Lightning? How far away from being suitable to retail adoption is it?