Crypto Currency Thread (Vol.2)
Discussion
Al Gorithum said:
Personally I consider all Cryto's to be either a scam or gambling. Which is fine if you're a mug or like gambling (which is a mug's game in the long run unless very lucky).
I agree it's a form of gambling. Wouldn't call it a scamEven with the huge crash most are still up 20% from 1YR ago.
I honestly don't care whether any of you buy bitcoin or gamble on shtcoins or take any notice at all.
There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
RichTT said:
I honestly don't care whether any of you buy bitcoin or gamble on shtcoins or take any notice at all.
There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
Each to their own, but to me they stink like a Ponzi.There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
RichTT said:
I honestly don't care whether any of you buy bitcoin or gamble on shtcoins or take any notice at all.
There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
My favourite quoteThere is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
"Those who have the most to lose in bitcoin, defend it"
g4ry13 said:
Except most of the world's Gold is stored in fortified storage facilities sitting there doing nothing.
Even Warren Buffett is not a fan of Gold!
In a 1998 Harvard speech, Buffett famously said that gold "has no utility."
"(Gold) gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head," he said.
Fast forward to 2011:
Buffett calls gold an “unproductive” asset, which, as defined in his 2011 letter to shareholders, means “assets that will never produce anything, but that are purchased in the buyer’s hope that someone else — who also knows that these assets will be forever unproductive — will pay more for them in the future.”
Even Warren Buffett is not a fan of Gold!
In a 1998 Harvard speech, Buffett famously said that gold "has no utility."
"(Gold) gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head," he said.
Fast forward to 2011:
Buffett calls gold an “unproductive” asset, which, as defined in his 2011 letter to shareholders, means “assets that will never produce anything, but that are purchased in the buyer’s hope that someone else — who also knows that these assets will be forever unproductive — will pay more for them in the future.”
Yes, so much of the great man's comments, are pure simple common sense.
An important basic principle for all investors to follow.
Another of his very sensible remarks, "We don't get involved with anything we do not understand". That sums up my relationship with Bitcoin.
Even though the gold price varies continually, there can never be any growth involved, which is Mr. Buffett's dislike. When owners want to sell, they just hope there is someone who will pay a higher price than they did. It of course is purchased/obtained for other reasons, not every one being legal.
Al Gorithum said:
RichTT said:
I honestly don't care whether any of you buy bitcoin or gamble on shtcoins or take any notice at all.
There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
Each to their own, but to me they stink like a Ponzi.There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
However, the remaining 1% have real world use and I'm continuing to hold/invest in them e.g. XRP.
And I still find a little to put in sht coins for amusement (they usually lose - I put a tiny bit in Luna yesterday just as a gamble - it's fair to say that didnt work out!!)
Some people say they're all a scam, a ponzi etc but are perhaps slow to admit that share manipulation, insider trading, government intervention, pump & dumps, directors lying, misjudged takeovers etc happen all the time in the 'real' financial world. And that's despite all the market regulation in place.
Jon39 said:
g4ry13 said:
Except most of the world's Gold is stored in fortified storage facilities sitting there doing nothing.
Even Warren Buffett is not a fan of Gold!
In a 1998 Harvard speech, Buffett famously said that gold "has no utility."
"(Gold) gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head," he said.
Fast forward to 2011:
Buffett calls gold an “unproductive” asset, which, as defined in his 2011 letter to shareholders, means “assets that will never produce anything, but that are purchased in the buyer’s hope that someone else — who also knows that these assets will be forever unproductive — will pay more for them in the future.”
Even Warren Buffett is not a fan of Gold!
In a 1998 Harvard speech, Buffett famously said that gold "has no utility."
"(Gold) gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head," he said.
Fast forward to 2011:
Buffett calls gold an “unproductive” asset, which, as defined in his 2011 letter to shareholders, means “assets that will never produce anything, but that are purchased in the buyer’s hope that someone else — who also knows that these assets will be forever unproductive — will pay more for them in the future.”
Yes, so much of the great man's comments, are pure simple common sense.
An important basic principle for all investors to follow.
Another of his very sensible remarks, "We don't get involved with anything we do not understand". That sums up my relationship with Bitcoin.
Even though the gold price varies continually, there can never be any growth involved, which is Mr. Buffett's dislike. When owners want to sell, they just hope there is someone who will pay a higher price than they did. It of course is purchased/obtained for other reasons, not every one being legal.
Although Gold is a pretty established investment vehicle and Buffett evidently is not a fan either as it appears to also suffer from the same 'greater fool theory' as that bitcoin nonsense.
Iamnotkloot said:
Some people say they're all a scam, a ponzi etc but are perhaps slow to admit that share manipulation, insider trading, government intervention, pump & dumps, directors lying, misjudged takeovers etc happen all the time in the 'real' financial world. And that's despite all the market regulation in place.
That's true enough which is why I use well known brokerage firms for investments. A very good friend of mine was a boiler room trader in the Seychelles - scamming wealthy US Doctors in pump/dump operations a few decades ago. Also, I've been at board room level meetings in listed firms and those seeking an IPO, and have been amazed at the incompetence of some of them so am not surprised they under-perform/fail.Generally speaking if you invest in a company there is normally something intrinsic you can see and touch. Not so with Cryptos as far as I can see.
Hope no-one got trashed in the LUNA UST mess.
As for the whole discussion - crypto and bitcoin are exactly as they were a week ago. A game of liquidity, someone just made a massive liquidity grab as so many people were crying in their teacups - meanwhile it's up 20% since yesterday. Not bad for a days work for some!
Ponzi or not - there is a lot of money to be made there if you're disciplined and can read through the smoke screen - and of course, don't get carried away by the utopians fairytales
As for the whole discussion - crypto and bitcoin are exactly as they were a week ago. A game of liquidity, someone just made a massive liquidity grab as so many people were crying in their teacups - meanwhile it's up 20% since yesterday. Not bad for a days work for some!
Ponzi or not - there is a lot of money to be made there if you're disciplined and can read through the smoke screen - and of course, don't get carried away by the utopians fairytales
RichTT said:
I honestly don't care whether any of you buy bitcoin or gamble on shtcoins or take any notice at all.
There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
pquinn said:
The same Saylor that's piled in far too hard and might be getting a margin call at $21K?
I can see why he wants more buyers and less talk.
I can see why he wants more buyers and less talk.
RichTT said:
I honestly don't care whether any of you buy bitcoin or gamble on shtcoins or take any notice at all.
There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
Surely though the 'financial revolution' you talk about highlights the problem with your position, or to some extent the same problem all revolutions face. There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
Most people just want to be able to get on with their lives and buy stuff with a reasonably stable currency don't they? Basically people want what we already have. The number of people globally who would even understand what you meant by 'FIAT' is tiny. No one really cares, in the same way no one really cares how sewage systems work, they just want them to work when they pull the flush.
What you see as a global crisis, most people don't care about. There are people like you saying the global crisis is obesity, or the climate, or water, or viruses, or politics, or what ever - but most people don't care about any of this provided they wake up tomorrow and things are more or less the same as they are today.
Bitcoin is too volatile to give the people what they want here IMO.
gregs656 said:
RichTT said:
I honestly don't care whether any of you buy bitcoin or gamble on shtcoins or take any notice at all.
There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
Surely though the 'financial revolution' you talk about highlights the problem with your position, or to some extent the same problem all revolutions face. There is a financial revolution happening in countries around the world with failing economies that offers them a lifeline and an opportunity for global financial inclusion and it's obvious that most of you haven't done any reading beyond tabloid headlines decrying the risks of investing in shibu doge elon coin.
To quote "Those who understand Bitcoin, buy it. Those who don't, talk about it." Saylor.
I'm out.
Most people just want to be able to get on with their lives and buy stuff with a reasonably stable currency don't they? Basically people want what we already have. The number of people globally who would even understand what you meant by 'FIAT' is tiny. No one really cares, in the same way no one really cares how sewage systems work, they just want them to work when they pull the flush.
What you see as a global crisis, most people don't care about. There are people like you saying the global crisis is obesity, or the climate, or water, or viruses, or politics, or what ever - but most people don't care about any of this provided they wake up tomorrow and things are more or less the same as they are today.
Bitcoin is too volatile to give the people what they want here IMO.
g4ry13 said:
Are you saying that people are too blissfully ignorant to care about double digit % inflation and don't care that their daily basket of goods is spiraling in price whilst their wages do not see the same growth?
I don't think I buried the meaning of what I was saying (see below). No system is perfect obviously, but I don't think people want a currency revolution - they just want stability.gregs656 said:
Most people just want to be able to get on with their lives and buy stuff with a reasonably stable currency don't they?
and
but most people don't care about any of this provided they wake up tomorrow and things are more or less the same as they are today.
and
Bitcoin is too volatile to give the people what they want here IMO.
and
but most people don't care about any of this provided they wake up tomorrow and things are more or less the same as they are today.
and
Bitcoin is too volatile to give the people what they want here IMO.
gregs656 said:
I don't think I buried the meaning of what I was saying (see below). No system is perfect obviously, but I don't think people want a currency revolution - they just want stability.
Ultimately, most people will want what they are told to want.In its current state that isn't BItcoin in this country and people will want the CBDC's when they are available.
It's obviously a different story in El Salvador, Panama, Paraguay and Guatemala etc.
g4ry13 said:
Ultimately, most people will want what they are told to want.
In its current state that isn't BItcoin in this country and people will want the CBDC's when they are available.
It's obviously a different story in El Salvador, Panama, Paraguay and Guatemala etc.
I totally disagree that when it comes to a means of exchange people want what they are told to want - there is a functional requirement for stability.In its current state that isn't BItcoin in this country and people will want the CBDC's when they are available.
It's obviously a different story in El Salvador, Panama, Paraguay and Guatemala etc.
It's not a different story in those countries, people want a stable means of exchange.
There is no revolution here on a grass roots level, people want the same thing it is just being packaged in a different way and no one cares about that packaging until it goes wrong.
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