Crypto Currency Thread (Vol.2)
Discussion
r3g said:
*sigh*
How many more times does it need to be repeated before you stocks/commodies people get it ?
NOBODY CARES ABOUT ITS USE CASE. NOBODY. ANYONE WHO SAYS ANY DIFFERENT IS LYING.
Got it ?
<snip>
And later on the same page :How many more times does it need to be repeated before you stocks/commodies people get it ?
NOBODY CARES ABOUT ITS USE CASE. NOBODY. ANYONE WHO SAYS ANY DIFFERENT IS LYING.
Got it ?
<snip>
dimots said:
Nothing has changed with bitcoin. I still use it every day and it's better than ever. Yes the financial industry cowboys, the Israeli scammers and the global banking cartel are doing their best to abuse and suppress it...but nothing has changed. We knew this was coming, it's a great test. Bitcoin still 100% operational 
You can't both be right.According to r3g, dimots is a liar, along with several other cypto enthusiasts on this thread.
r3g said:
*sigh*
How many more times does it need to be repeated before you stocks/commodies people get it ?
NOBODY CARES ABOUT ITS USE CASE. NOBODY. ANYONE WHO SAYS ANY DIFFERENT IS LYING.
Got it ?
The only reason we buy into these is to speculate in the price increasing and selling at a nice profit or to gamble on the endless stream of 3% per day full degen ponzi projects before they rugpull. It's a form of gambling, that's it. Do you people go into the horse betting threads and casino threads droning on and on and on and on and on about your 1% per year stocks and shares comparing them with each other? No. So why do it here? You don't like crypto, that's fine, it's not for you, so off you go back to your stocks threads. Stop endlessly trolling this one (collectively).
Like in every asset class, you get a handful of deluded people who think the price is going to go to £1m and believe it will take over the world. Such people can also be found in the gold and silver threads and tend to get quite upset when you point out that neither of them have done anything price wise, and certainly not the gold at $100k and silver at $10k like they've all been predicting since time began. If that's what they choose to believe, so what? Leave them be in their bubble.
Whilst that is true, the point is that there are (or were) crypto fans in this thread shilling it as a serious and credible investment. How many more times does it need to be repeated before you stocks/commodies people get it ?
NOBODY CARES ABOUT ITS USE CASE. NOBODY. ANYONE WHO SAYS ANY DIFFERENT IS LYING.
Got it ?
The only reason we buy into these is to speculate in the price increasing and selling at a nice profit or to gamble on the endless stream of 3% per day full degen ponzi projects before they rugpull. It's a form of gambling, that's it. Do you people go into the horse betting threads and casino threads droning on and on and on and on and on about your 1% per year stocks and shares comparing them with each other? No. So why do it here? You don't like crypto, that's fine, it's not for you, so off you go back to your stocks threads. Stop endlessly trolling this one (collectively).
Like in every asset class, you get a handful of deluded people who think the price is going to go to £1m and believe it will take over the world. Such people can also be found in the gold and silver threads and tend to get quite upset when you point out that neither of them have done anything price wise, and certainly not the gold at $100k and silver at $10k like they've all been predicting since time began. If that's what they choose to believe, so what? Leave them be in their bubble.
I suspect that's where the confusion lies.
Seventyseven7 said:
Ari said:
Seventyseven7 said:
Ari said:
I'm a little surprised that our crypto fans in this thread haven't been comparing how much they're investing in buying the dip.
That's what these smart investors do isn't it, buy the dip?
Unless they think that it's not a dip?
The chat is mostly in the telegram group main group and the various little ones that have come from it. That's what these smart investors do isn't it, buy the dip?
Unless they think that it's not a dip?
I bought 1.1 BTC at 17.5 US and I bought 18 QNT at 55. I had a small short on ETH at 1,200 but have closed it. I will probably open a longer short on ETH in the near future.
What trading have you been doing?
Very boring, I know, but it seems to work for me.
Is that you cashed out from it now, or investing that half somewhere else?
The truth is I've got some fairly big work going on at home currently, and I figured I'd be better using the money for that at the mo. I don't see big gains in the stock market in the short to medium term. (And if I'm proved wrong, which is far from impossible, at least half of what was there is still there).
Ari said:
Seventyseven7 said:
Ari said:
Seventyseven7 said:
Ari said:
I'm a little surprised that our crypto fans in this thread haven't been comparing how much they're investing in buying the dip.
That's what these smart investors do isn't it, buy the dip?
Unless they think that it's not a dip?
The chat is mostly in the telegram group main group and the various little ones that have come from it. That's what these smart investors do isn't it, buy the dip?
Unless they think that it's not a dip?
I bought 1.1 BTC at 17.5 US and I bought 18 QNT at 55. I had a small short on ETH at 1,200 but have closed it. I will probably open a longer short on ETH in the near future.
What trading have you been doing?
Very boring, I know, but it seems to work for me.
Is that you cashed out from it now, or investing that half somewhere else?
The truth is I've got some fairly big work going on at home currently, and I figured I'd be better using the money for that at the mo. I don't see big gains in the stock market in the short to medium term. (And if I'm proved wrong, which is far from impossible, at least half of what was there is still there).
Stock market doesn't look good for the short term that's for sure.
Ari, I would suggest you buy some Bitcoin if you want a good return in the next 12 months, I can show you how....
(I'm joking)
it is quite funny that when crypto is on the up, this thread is busy with backslapping about how amazing we all are, and how amazing crypto is... but when it's down then it just turns into a massive argument about how s
t crypto is, as a concept, and how idiotic we/others are. If people genuinely believed in the ideology then it wouldn't work like this. This thread is 99.9% speculators. Probably approximately representative of the wider crypto holder population.
t crypto is, as a concept, and how idiotic we/others are. If people genuinely believed in the ideology then it wouldn't work like this. This thread is 99.9% speculators. Probably approximately representative of the wider crypto holder population.Blown2CV said:
it is quite funny that when crypto is on the up, this thread is busy with backslapping about how amazing we all are, and how amazing crypto is... but when it's down then it just turns into a massive argument about how st crypto is, as a concept, and how idiotic we/others are. If people genuinely believed in the ideology then it wouldn't work like this. This thread is 99.9% speculators. Probably approximately representative of the wider crypto holder population.
People never admit to the losses they make. Same when buying a car ‘what a great deal I bargained’ . I actually believe that most of the big wins people talk about are even fake - and all they are doing is quoting that the sold out at a big profit when they are in fact under water . Most trading strategies show that people never sell out when markets are falling as they believe ‘it will bounce back’. t crypto is, as a concept, and how idiotic we/others are. If people genuinely believed in the ideology then it wouldn't work like this. This thread is 99.9% speculators. Probably approximately representative of the wider crypto holder population.Some Gump said:
Al Gorithum said:
Bloomberg this morning reporting that the Crypto Jesus fella has gone bust with $30m (IIRC) with PG's. Ouch.
[Img]https://i.etsystatic.com/12874929/r/il/53eee9/2707061820/il_fullxfull.2707061820_f4hg.jpg[/thumb]??Blown2CV said:
it is quite funny that when crypto is on the up, this thread is busy with backslapping about how amazing we all are, and how amazing crypto is... but when it's down then it just turns into a massive argument about how st crypto is, as a concept, and how idiotic we/others are. If people genuinely believed in the ideology then it wouldn't work like this. This thread is 99.9% speculators. Probably approximately representative of the wider crypto holder population.
when it up and people make money they think they are talented and skilled. When it dumps massively they realise it was just pure luck, like gambling.t crypto is, as a concept, and how idiotic we/others are. If people genuinely believed in the ideology then it wouldn't work like this. This thread is 99.9% speculators. Probably approximately representative of the wider crypto holder population.Blown2CV said:
it is quite funny that when crypto is on the up, this thread is busy with backslapping about how amazing we all are, and how amazing crypto is... but when it's down then it just turns into a massive argument about how st crypto is, as a concept, and how idiotic we/others are. If people genuinely believed in the ideology then it wouldn't work like this. This thread is 99.9% speculators. Probably approximately representative of the wider crypto holder population.
I think you'll find that those of us who see it as a giant ponzi scheme have been pretty steadfast in our view. The facts don't change just because the value of it does. t crypto is, as a concept, and how idiotic we/others are. If people genuinely believed in the ideology then it wouldn't work like this. This thread is 99.9% speculators. Probably approximately representative of the wider crypto holder population.Blown2CV said:
it is quite funny that when crypto is on the up, this thread is busy with backslapping about how amazing we all are, and how amazing crypto is... but when it's down then it just turns into a massive argument about how st crypto is, as a concept, and how idiotic we/others are. If people genuinely believed in the ideology then it wouldn't work like this. This thread is 99.9% speculators. Probably approximately representative of the wider crypto holder population.
I wonder if that visual is skewed more by the smaller number of those suggesting caution being relatively present throughout but merely seeming louder now because the greater number who were advocating a new world order have evaporated?t crypto is, as a concept, and how idiotic we/others are. If people genuinely believed in the ideology then it wouldn't work like this. This thread is 99.9% speculators. Probably approximately representative of the wider crypto holder population.Most of the folk posting on the negative sides today were doing so throughout the thread whereas the other side have mostly gone.
DonkeyApple said:
I wonder if that visual is skewed more by the smaller number of those suggesting caution being relatively present throughout but merely seeming louder now because the greater number who were advocating a new world order have evaporated?
Most of the folk posting on the negative sides today were doing so throughout the thread whereas the other side have mostly gone.
There are a lot of people who simply won't engage in boring repetitive waffle - the same as in real life.Most of the folk posting on the negative sides today were doing so throughout the thread whereas the other side have mostly gone.
Personally I find it bizarre that someone would dislike something so much - to hang around bashing it day after day - call me strange but I would just go out, enjoy the sun - do something nice.
Each to their own!
There are also a fair few of us who understand what a market is.
It goes up and down - you can profit from both sides. There seem to be some people that simply think you can only profit if the price goes up - maybe that's just the measure of financial literacy?
The whole idea of speculation is that you understand there is a risk, you measure it - and act according to your risk profile. There are many people who have/are profiting nicely from it.
digger_R said:
Personally I find it bizarre that someone would dislike something so much - to hang around bashing it day after day - call me strange but I would just go out, enjoy the sun - do something nice.
Since the very beginning all we've wanted is to learn and be educated. I've rebutted nonsense when nonsense has been delivered, but going back my first and original question, which has been answered about 4 times, but not with an answer which has stood up to basic scrutiny...."What does Bitcoin (or any other crypto currency) do better than the existing banking system?" It's a pretty basic and simple question, if you're going to believe it crypto as "the future".
It's a store of value - no it's not, it's lost over half it's value in a few months.
It's anonymous - yes and no, but if it's ever going to be accepted, then no
It's faster or cheaper than regular banking - no it's not
It allows anyone in the world to trade with each other - so do existing banks, and while there maybe benefits in countries with capital controls, if it was to become too much of an issue then those countries would simply ban it via the on/off ramps.
As you can see by other posts, I find the social and technical aspect of it fascinating, and what people do in the space very interesting. Odd on a discussion thread alternative opinions are not wanted.
Meh. The energy penalty for it is enough that even if it _does_ eventually find a use other than gambling / law breaking, no decent company or government could ever use it and keep their climate commitments.
At this point, some will wonder why i'm in / reading this thread. It's simple: IMO watching the great crypto thing unfold is like watching a pissed up bloke doing something massively dangerous on the high wall on holiday. You know that at some point, it'll all come crashing down, but it's a hell of a spectacle in the meantime.
I am still completely convinced that at some point, tether will come unstuck and it's all over in a graph that would make the last days of Northern Rock or RBS look gradual.
At this point, some will wonder why i'm in / reading this thread. It's simple: IMO watching the great crypto thing unfold is like watching a pissed up bloke doing something massively dangerous on the high wall on holiday. You know that at some point, it'll all come crashing down, but it's a hell of a spectacle in the meantime.
I am still completely convinced that at some point, tether will come unstuck and it's all over in a graph that would make the last days of Northern Rock or RBS look gradual.
Condi said:
stuff...
As you can see by other posts, I find the social and technical aspect of it fascinating, and what people do in the space very interesting. Odd on a discussion thread alternative opinions are not wanted.
It's the same old. If you've formed an opinion about it, good for you. Act on it. Most people do that in life. As you can see by other posts, I find the social and technical aspect of it fascinating, and what people do in the space very interesting. Odd on a discussion thread alternative opinions are not wanted.
It's not for me (or anyone else to convince you otherwise).
Personally I don't see combative dross as discussion - and am not interested in communicating in that way.
If you genuinely want to learn/understand it in depth, PH is the last place I'd look tbh.
Edited by digger_R on Thursday 30th June 21:38
digger_R said:
If you genuinely want to learn/understand it in depth, PH is the last place I'd look tbh.
He (they) don't. He claims to have been asking the "same questions" since the beginning (whenever that was - seems to be about 10 years ago looking at the volume numbers). If you genuinely had an interest and wanted to educate yourself, you would get straight onto google and do your research where you would be presented with tens of thousands of informative websites listing the pros and cons from both sides, after which you could form an opinion whether it's for you or not. The last thing you'd do if you actually possessed a brain would be to seek financial/investment advice and opinions from people on a hobby motoring forum. 
The fact that 10 years have gone by and he (they) still haven't bothered to go and educate themselves, instead preferring to (allegedly) seek the opinions of forums members obviously shows they have no serious intent or interest and is nothing more than a decade-long endless trolling of any members who have a religious belief in its future.
If it isn't trolling (which it clearly is imo) then after the initial back-and-forth discussion about intrinsic value and all that nonsense in the very first thread, a simple "I respect your opinion but I think we should agree to disagree" conclusion should have been reached and the people in the 'against' camp vacated the thread and leave those people be who believe in its future and like to take a punt on random shtcoins.
It's akin to going into the football mega thread on here when you hate football and making posts every.single.day about how sht it is, what is the point of it, it's just kicking a ball around a field pointlessly, how you hate it, where is its use case? etc. It wouldn't be tolerated by the mods. Same if you were posting in a BMW thread saying how much you hate their cars, they're all sht, you'll lose all your money, what is the point of them when you can buy a Ford? Again, wouldn't be tolerated. So why is it tolerated here? It's the behaviour of childish, immature, attention-seeking teenagers and utterly pathetic.
digger_R said:
It's the same old. If you've formed an opinion about it, good for you. Act on it. Most people do that in life.
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