Crypto Currency Thread (Vol.2)
Discussion
Hang On said:
Ari said:
Yes, absolutely correct. But you understand the basic message, yes? Most things have an underlying value, a house, a company, whatever. There is none with crypto, the only value is based on the hope it will be worth more tomorrow. At the point where that stops happening (as it has for every other similar scheme in the past from tulip bulbs onwards), that perceived value is gone.
You say you've made 8,000%, very well done if that's true. Presumably you've cashed out in order to have made that money (until you do that, you've made nothing yet), but it's important to understand that, for every £1 you put in and £8,000 you took out, someone else investing in crypto is £7,999 worse off (and that's ignoring the fees of running the thing).
So there will be winners (you) but there has to be losers, and there has to be more losers than winners. That's the only place your money when you cashed out can have come from.
And if you haven't cashed out, then the people who 'won' before you got their money from you and everyone else still in the scheme...
8000% of £1 is £80You say you've made 8,000%, very well done if that's true. Presumably you've cashed out in order to have made that money (until you do that, you've made nothing yet), but it's important to understand that, for every £1 you put in and £8,000 you took out, someone else investing in crypto is £7,999 worse off (and that's ignoring the fees of running the thing).
So there will be winners (you) but there has to be losers, and there has to be more losers than winners. That's the only place your money when you cashed out can have come from.
And if you haven't cashed out, then the people who 'won' before you got their money from you and everyone else still in the scheme...
The principle remains though, for someone to 'make' £79, someone else has to lose it, even ignoring operating costs.
Ari said:
Good point, well made!
The principle remains though, for someone to 'make' £79, someone else has to lose it, even ignoring operating costs.
But thats the same with any transaction.. i feel we are going round in circles and talking to broadly about crypto as a space which has many different solutions within. The principle remains though, for someone to 'make' £79, someone else has to lose it, even ignoring operating costs.
Ari said:
Good point, well made!
The principle remains though, for someone to 'make' £79, someone else has to lose it, even ignoring operating costs.
But thats the same with any transaction.. i feel we are going round in circles and talking to broadly about crypto as a space which has many different solutions within. The principle remains though, for someone to 'make' £79, someone else has to lose it, even ignoring operating costs.
I genuinely don't understand why this is just a thread of squabbling where people seem entirely unable to cope with the fact that, in general, people like different things and hold different opinions etc. Isn't it a bit odd that the crypto thread is basically filled with a few people who want to force everyone to hate crypto as much as they do?
If you don't like it or understand it, just don't invest in it. Surely?
I'm no expert whatsoever, but I got lucky and a three-figure investment I made with crypto a couple of years back turned into a five-figure reward. It's now parked on my drive, so definitely real.
Sterillium said:
I genuinely don't understand why this is just a thread of squabbling where people seem entirely unable to cope with the fact that, in general, people like different things and hold different opinions etc. Isn't it a bit odd that the crypto thread is basically filled with a few people who want to force everyone to hate crypto as much as they do?
If you don't like it or understand it, just don't invest in it. Surely?
I'm no expert whatsoever, but I got lucky and a three-figure investment I made with crypto a couple of years back turned into a five-figure reward. It's now parked on my drive, so definitely real.
But but you only profited because someone lost!! If you don't like it or understand it, just don't invest in it. Surely?
I'm no expert whatsoever, but I got lucky and a three-figure investment I made with crypto a couple of years back turned into a five-figure reward. It's now parked on my drive, so definitely real.
Though i agree its crazy how much they hate it, and seem to think we only invest in crypto when i assume most of us have some diversification.
Ari said:
Hang On said:
Ari said:
Yes, absolutely correct. But you understand the basic message, yes? Most things have an underlying value, a house, a company, whatever. There is none with crypto, the only value is based on the hope it will be worth more tomorrow. At the point where that stops happening (as it has for every other similar scheme in the past from tulip bulbs onwards), that perceived value is gone.
You say you've made 8,000%, very well done if that's true. Presumably you've cashed out in order to have made that money (until you do that, you've made nothing yet), but it's important to understand that, for every £1 you put in and £8,000 you took out, someone else investing in crypto is £7,999 worse off (and that's ignoring the fees of running the thing).
So there will be winners (you) but there has to be losers, and there has to be more losers than winners. That's the only place your money when you cashed out can have come from.
And if you haven't cashed out, then the people who 'won' before you got their money from you and everyone else still in the scheme...
8000% of £1 is £80You say you've made 8,000%, very well done if that's true. Presumably you've cashed out in order to have made that money (until you do that, you've made nothing yet), but it's important to understand that, for every £1 you put in and £8,000 you took out, someone else investing in crypto is £7,999 worse off (and that's ignoring the fees of running the thing).
So there will be winners (you) but there has to be losers, and there has to be more losers than winners. That's the only place your money when you cashed out can have come from.
And if you haven't cashed out, then the people who 'won' before you got their money from you and everyone else still in the scheme...
The principle remains though, for someone to 'make' £79, someone else has to lose it, even ignoring operating costs.
How else is it possible for someone to make that return on their investment and the money not have come from someone else/or group of people?
g4ry13 said:
Did I get back in a time machine and go back 2 weeks? I feel like we trounced this nonsense about investing in growth stocks which don't pay a dividend.
You didn't "trounce any nonsense", you highlighted a small number of stocks which don't pay a dividend, but the underlying basic theory of creating value still remains, even if that isn't paid back as a dividend but is reinvested. Nowhere in my post did I mention dividends. What is amazing is that despite explaining it several times the difference between shares and crypto is still an absolute mystery to some people, especially to someone who describes himself as an "expert in stocks and crypto".
Condi said:
You didn't "trounce any nonsense", you highlighted a small number of stocks which don't pay a dividend, but the underlying basic theory of creating value still remains, even if that isn't paid back as a dividend but is reinvested. Nowhere in my post did I mention dividends.
What is amazing is that despite explaining it several times the difference between shares and crypto is still an absolute mystery to some people, especially to someone who describes himself as an "expert in stocks and crypto".
Your the one who keeps trying to compare them! Why are you even in here… you already stated in another thread your too poor to buy a decent bicycle! I suggest you focus on your own finances and worry less about other people… you never know you might be able to save up a few pounds and get your Raleigh burner and look flash on your paper round!What is amazing is that despite explaining it several times the difference between shares and crypto is still an absolute mystery to some people, especially to someone who describes himself as an "expert in stocks and crypto".
WY86 said:
Your the one who keeps trying to compare them!
Erm, no..... WY86 said:
Dot com bubble… hows FB, Netflix, Amazon, Google doing?
MLMS again even though they are a pyramid scheme still very much exist so it hasn’t died off like you claim.
MLMS again even though they are a pyramid scheme still very much exist so it hasn’t died off like you claim.
WY86 said:
you already stated in another thread your too poor to buy a decent bicycle! I suggest you focus on your own finances and worry less about other people… you never know you might be able to save up a few pounds and get your Raleigh burner and look flash on your paper round!
Humour evidently lost on you! Hence the " " after my post. 
Ouroboros said:
Slow said:
I hope your all happy. This thread is absolutely garbage now.
Just like the coins boom boomJust wait until (if) the next bull market, and people start wanting more yieldz!!!11!!!
BTC to the moon, again... along with DaveCoin... which I'll launch shortly. Just 0.00001p each, because the cheaper the better yeah? Only 100 trillion to be mined.
You mine them by sending me £1 via paypal friends and family. It's not a scam. My uncle's nephew's nieces' roomate at uni was Bill Gates and he's onboard.
Mr Whippy said:
Ouroboros said:
Slow said:
I hope your all happy. This thread is absolutely garbage now.
Just like the coins boom boomJust wait until (if) the next bull market, and people start wanting more yieldz!!!11!!!
BTC to the moon, again... along with DaveCoin... which I'll launch shortly. Just 0.00001p each, because the cheaper the better yeah? Only 100 trillion to be mined.
You mine them by sending me £1 via paypal friends and family. It's not a scam. My uncle's nephew's nieces' roomate at uni was Bill Gates and he's onboard.
TriumphStag3.0V8 said:
So, what do people think of Pi coin (had a look back several pages but couldn't see it mentioned). Have some friends doing it and trying to get me to join their security circle.
One of them never shuts up about it!
Just another short-lived useless sh.tcoin to join the tens of thousands of others that have come and gone. One of your mates got a "hot tip" from a dev or early whale of the project, telling everyone that it is going to be the next bitcoin and "look at how much the price has gone up already... you need to get in now while it's still cheap and early !!". That mate has fallen hook,line and sinker for the patter, put a load of cash in, then went and told all his mates who are also gullible suckers and did same, and now they're telling you. What will happen is if (when?) you follow suit in your greed to also become a quick millionaire, the dev(s) and early whales will wait for a few more people like you to pump the price, then they will all sell and become millionaires, the token price instantly loses 99% of its value and you're left holding an empty bag.One of them never shuts up about it!
TriumphStag3.0V8 said:
So, what do people think of Pi coin (had a look back several pages but couldn't see it mentioned). Have some friends doing it and trying to get me to join their security circle.
One of them never shuts up about it!
This reads almost exactly like a post from a few weeks ago.One of them never shuts up about it!
The guy could be a newbie.TriumphStag3.0V8 said:
So, what do people think of Pi coin (had a look back several pages but couldn't see it mentioned). Have some friends doing it and trying to get me to join their security circle.
One of them never shuts up about it!
As i understand it basically runs an app on your phone which mines tokens - which as far as I know have always had zero monetary value (you can't sell them on any exchange as far as I know). One of them never shuts up about it!
A few friends who haven't bought any crypto had spoken to me about it last year. One of them was a guy similar to the regular doomer crowd here, constantly talking about how all crypto is worthless etc then with this thing came up he jumped all over it.
My assumption is that it appeals to a particular breed of crypto/techno illiterate - who are too tight/risk averse to actually pay for it.
I'd guess it appeals to them simply as they can have some crypto and it's 'free' (it costs you computing power from your phone). I've no idea what the app actually does on your phone but personally I don't trust it.
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