Crypto Currency Thread (Vol.2)
Discussion
Ari said:
Let's cut to the chase here.
People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
Yup, sums me up.People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
I'm doing really well, though... only lost half of my investment thus far. FML.
WY86 said:
Ari said:
I'm still waiting to hear how 'bitcoins value is still 50x compared to their share prices', by the way... 
So for 1 bitcoin its currently 23kish to buy, what company has a single share worth close to that ?You might want to have a look at Berkshire Hathaway. One share is going for just under $462k.
Ari said:
Let's cut to the chase here.
People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
Jesus well done Ari, people are INVESTING in the hopes to make money!!! And part of the due diligence people are looking beyond the hype and actually looking at fundamentals to decide which projects to invest in… well People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
I am shocked!
Ari said:
Let's cut to the chase here.
People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
You've just described every investor. Not just Bitcoin investors. People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
For someone who claims to be an expert in shares and financial matters you should know that the price of share is entirely irrelevant to anything at all.
You could have 2 publicly traded companies both worth $1bn, and one could be trading at $1m per share and the other could trade at $0.5 a share. Depends on the number of shares issued, obviously.
But hey, continue to justify why $23k is 50x the share price. Even that sentence means nothing.
You could have 2 publicly traded companies both worth $1bn, and one could be trading at $1m per share and the other could trade at $0.5 a share. Depends on the number of shares issued, obviously.
But hey, continue to justify why $23k is 50x the share price. Even that sentence means nothing.
Condi said:
For someone who claims to be an expert in shares and financial matters you should know that the price of share is entirely irrelevant to anything at all.
You could have 2 publicly traded companies both worth $1bn, and one could be trading at $1m per share and the other could trade at $0.5 a share. Depends on the number of shares issued, obviously.
But hey, continue to justify why $23k is 50x the share price. Even that sentence means nothing.
Why don’t you just add a little crypto to your portfolio… go on Condi dance with the devil… get in while its cheap… i know its tempting you…You could have 2 publicly traded companies both worth $1bn, and one could be trading at $1m per share and the other could trade at $0.5 a share. Depends on the number of shares issued, obviously.
But hey, continue to justify why $23k is 50x the share price. Even that sentence means nothing.
Condi said:
But hey, continue to justify why $23k is 50x the share price. Even that sentence means nothing.
It's one of those statements that works for non-critical thinkers but is actually nonsensical.We are supposed to believe that because $23K is a bigger number than $460 it is therefore better and clearly has better fundamentals!
To use an older example, which is heavier, a pound of lead or a pound of feathers?
Ouroboros said:
For me what happened with Luna is just the bubble bursting, i see the market dropping significantly next few months.
Luna is insignificant in the grand scheme of things.
If the market drops it will be because the financial markets drop due to inflation, interest rates, slow growth and potentially recession on the horizon.
Seventyseven7 said:
moonigan said:
Seventyseven7 said:
One issue Bitcoin has for it, is people say how awful it is, without taking a moment to even try and understand what it is or how it works.
One issue 'Crypto' has, is people will post/repost/retweet information that isn't correct without even checking it themselves. There isn't many industries where hundreds/thousands of people will repost inaccurate information like this and not get pulled up on it. But it happens in crypto all the time.
For reference, there has never been a token called MonkeyPoxInu that had 1 Million (Let alone 400 million) in liquidity ever.
Do you fact-check every single thing you read? I scrolled through that twitter post yesterday evening and didn't read anything that suggested it was untrue. One issue 'Crypto' has, is people will post/repost/retweet information that isn't correct without even checking it themselves. There isn't many industries where hundreds/thousands of people will repost inaccurate information like this and not get pulled up on it. But it happens in crypto all the time.
For reference, there has never been a token called MonkeyPoxInu that had 1 Million (Let alone 400 million) in liquidity ever.
silentbrown said:
Seventyseven7 said:
moonigan said:
Seventyseven7 said:
One issue Bitcoin has for it, is people say how awful it is, without taking a moment to even try and understand what it is or how it works.
One issue 'Crypto' has, is people will post/repost/retweet information that isn't correct without even checking it themselves. There isn't many industries where hundreds/thousands of people will repost inaccurate information like this and not get pulled up on it. But it happens in crypto all the time.
For reference, there has never been a token called MonkeyPoxInu that had 1 Million (Let alone 400 million) in liquidity ever.
Do you fact-check every single thing you read? I scrolled through that twitter post yesterday evening and didn't read anything that suggested it was untrue. One issue 'Crypto' has, is people will post/repost/retweet information that isn't correct without even checking it themselves. There isn't many industries where hundreds/thousands of people will repost inaccurate information like this and not get pulled up on it. But it happens in crypto all the time.
For reference, there has never been a token called MonkeyPoxInu that had 1 Million (Let alone 400 million) in liquidity ever.
tcoins. Its a common thing to do on scam coins. Just buy stuff listed on binance/coinbase/crypto.com etc and you will not be buying scam coins. Not to say they dont fail but they are not straight 4 day old rug pulls.
Seventyseven7 said:
Ari said:
Let's cut to the chase here.
People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
You've just described every investor. Not just Bitcoin investors. People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
However if you cut through the hype and accept that there is no purpose to Bitcoin other than selling for more to the next
Ari said:
Seventyseven7 said:
Ari said:
Let's cut to the chase here.
People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
You've just described every investor. Not just Bitcoin investors. People buy crypto currency because they have seen other people buy and sell it for big profits in the early days and believe they will be able to do the same and become rich with little effort.
There's no shame in that, but at least be honest about it.
Why else would you buy it?
However if you cut through the hype and accept that there is no purpose to Bitcoin other than selling for more to the next
Ari said:
Correct.
However if you cut through the hype and accept that there is no purpose to Bitcoin other than selling for more to the nextsucker 'investor', you get to see it for what it really is.
Again blanketing all crypto projects just because you see no value in Bitcoin just sums you up, why don't you actually go look at some projects other than just think it is all a big pyrmid scheme. Also if it is a big pyrmid scheme i would rather be in at the start and make money rather than getting in last... but heyHowever if you cut through the hype and accept that there is no purpose to Bitcoin other than selling for more to the next
Bitcoin is revolutionary technology that the world is very lucky to have. It will be an essential tool in managing our resources and in changing the way the world conducts business. Our current capitalist system is proven to be broken. It is absolutely obvious. Constant growth in consumption? Impossible. Even trying to maintain it is stressing the planet, depleting reserves of minerals in the soil, poisoning our water, damaging our atmosphere. We know this right?
If you run some basic statistical analysis on maintaining growth it shows that the human race has a few centuries left in existence. Capitalism is a dead end.
So where do we go next? The answer, as ever, is to evolve. Genetic variation is declining in the human species, and we are most likely already evolved to the point where our next logical stage is extinction. However, being clever, we can probably use technology to hijack that evolutionary dead-end and create some sort of future for ourselves. I think that using bitcoin and AI we can create a technology that will measure and allocate and manage resource extraction and usage and introduce efficiences that the market never could. This would give us a lot more time on earth to evolve further.
Given that we can regain control of resources from the inefficient markets, and looking further forwards we have to get off the planet. Mars will likely be first because it's reachable. Whether Mars will be a Tesla planet is still up for debate. There's some good thinking about that on this page, including some of the challeges that lie in store for bitcoin at this point
https://unchained.com/blog/law-of-hash-horizons/
Further on...I'm sure we will find that gravity and dimensional physics will help here as we know that gravity can warp space-time and effectively travel between dimensions. Work in this field is likely to transform space travel to the point where the universe becomes infinitely reachable. Whether human beings will be able to travel between dimensions in our physical form is highly unlikely, but I don't see any reason why we can't connect human brains to AI and send a version of ourselves into other dimensons and deeper into the universe. I hope to be there in some form, but if I'm not, I hope my descendants are grateful that I was a HODLER FOR LIFE!!
If you run some basic statistical analysis on maintaining growth it shows that the human race has a few centuries left in existence. Capitalism is a dead end.
So where do we go next? The answer, as ever, is to evolve. Genetic variation is declining in the human species, and we are most likely already evolved to the point where our next logical stage is extinction. However, being clever, we can probably use technology to hijack that evolutionary dead-end and create some sort of future for ourselves. I think that using bitcoin and AI we can create a technology that will measure and allocate and manage resource extraction and usage and introduce efficiences that the market never could. This would give us a lot more time on earth to evolve further.
Given that we can regain control of resources from the inefficient markets, and looking further forwards we have to get off the planet. Mars will likely be first because it's reachable. Whether Mars will be a Tesla planet is still up for debate. There's some good thinking about that on this page, including some of the challeges that lie in store for bitcoin at this point
https://unchained.com/blog/law-of-hash-horizons/
Further on...I'm sure we will find that gravity and dimensional physics will help here as we know that gravity can warp space-time and effectively travel between dimensions. Work in this field is likely to transform space travel to the point where the universe becomes infinitely reachable. Whether human beings will be able to travel between dimensions in our physical form is highly unlikely, but I don't see any reason why we can't connect human brains to AI and send a version of ourselves into other dimensons and deeper into the universe. I hope to be there in some form, but if I'm not, I hope my descendants are grateful that I was a HODLER FOR LIFE!!
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