Crypto Megathread V15 - Where the hits keep on coming!

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Prefect said:
Explain to me why the average person would care about that? Specialized transactions don't mandate the creation of a new currency that is benchmarked still against backed currencies. That is a lot of tail chasing.
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“Explain to me why something I’ve done zero research on matters”.

you’d stop focusing on “currency” and about the technology if you weren’t such a complete moron.

Like I said, potentially the worst poster on these forums.
 
Rob Battisti said:
“Explain to me why something I’ve done zero research on matters”.

you’d stop focusing on “currency” and about the technology if you weren’t such a complete moron.

Like I said, potentially the worst poster on these forums.
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Yo don't be giving my title away so easily like that. <31>
 
Prefect said:
Explain to me why the average person would care about that? Specialized transactions don't mandate the creation of a new currency that is benchmarked still against backed currencies. That is a lot of tail chasing.
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It's backed against a lot more than fiat currency.
 
Prefect said:
For the jokes of it.

What do you think would happen if every crypto was traded for goods and services? It would crash badly because only a small minority values it. People are really forgetting that when the speculation ends, vendors who sells goods and service are going to price it and take volatility and the hassle into account.

No one has even explained why there needs to be more crypto currency coined when their is more than enough to facilitate all crypto transactions. How does going from 19 million fiat bitcoins to 21 million change anything. It is unbacked so its price is some consensus. 10% more imaginary coins doesn't change anything.
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Well, I think it would be nice knowing that I could sell my old car for 2k in Bitcoin and a year later that same amount of Bitcoin was now worth 20k. Risk vs reward.
 
Prefect said:
Explain to me why the average person would care about that? Specialized transactions don't mandate the creation of a new currency that is benchmarked still against backed currencies. That is a lot of tail chasing.
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Why on earth would anyone use PayPal when they can just pay using a visa directly? Yet, it is extremely successful and has its benefits.
 
Prefect said:
Any idea that 10-20k will make you a millionaire is based on hindsight. People want to say if I had just invested in xyz, I would be a millionaire but the time xyz was among a million other very risky things. Once something becomes a known, it no longer has a valuation that would let you go from 10k to millions in a few years. Too many people would have gathered to it by then for it to be undervalued. You have eToro and how many companies advertising trading crypto to regular 'Joe Schmoes'. The time of ridiculousness is over. It is the "Shoe Shine Boy" all over again. John F. Kennedy Sr. was getting his shoes shined and his shoe shine boy was giving him stock tips. He got out of everything because if your shoe shine boy is talking about it, it is way too late. He made a bundle shorting the hell out of everything before the great depression.
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This is ridiculous. I heard this same thing in 2018. "Oh man, my plumber is asking about BTC, must mean the top is in!" Meanwhile, smart people accumulated during the bear market and now they're up significantly. BTC has outperformed every asset in the last 10 years. If your theory is correct, that should have never happened because everyone knew to get in. Plus, it doesn't fully account for crypto bear/bull cycles. People have short memories.
 
SwamiLeoni said:
This is ridiculous. I heard this same thing in 2018. "Oh man, my plumber is asking about BTC, must mean the top is in!" Meanwhile, smart people accumulated during the bear market and now they're up significantly. BTC has outperformed every asset in the last 10 years. If your theory is correct, that should have never happened because everyone knew to get in. Plus, it doesn't fully account for crypto bear/bull cycles. People have short memories.
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He doesn’t have a theory of crypto beyond that it is a thing he doesn’t understand
 
SwamiLeoni said:
This is ridiculous. I heard this same thing in 2018. "Oh man, my plumber is asking about BTC, must mean the top is in!" Meanwhile, smart people accumulated during the bear market and now they're up significantly. BTC has outperformed every asset in the last 10 years. If your theory is correct, that should have never happened because everyone knew to get in. Plus, it doesn't fully account for crypto bear/bull cycles. People have short memories.
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It hasn't performed every asset. Its growth is not dissimilar to a lot of successful companies. You could play the hindsight game with any number of new companies.
 
Rob Battisti said:
He doesn’t have a theory of crypto beyond that it is a thing he doesn’t understand
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You say this to dismiss any point I make. I haven't criticized your personally but you attack me instead of my points. It is pretty clear that you buy crypto because other people buy crypto and its value sometimes goes up than true belief of it being some financial solution.
 
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Rob Battisti said:
Make an educated point. Something which shows you have even the slightest idea of what you’re talking about.
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Go read any number of post I made. Everyone wants to claim it is worth xyz but it is being horded and hasn't been put onto the market. You have bots selling crypto back and forth but and time anythere are real sales, the price just plummets because there were no real buyers at 60k. If sold my dollars that I had in my bank account to buy something, you wouldn't see any sort of dip because they are valued near their real value. Anytime there is a sell off of bitcoin, it just plummets because its price is not based on its intrinsic worth as a blockchain currency. It is based of it being useful for xyz but none of its perks makes it especially better than just actually dollars. It is just a speculative play that lacks actual merit. If someone is storing value, there are any number of investments that are better and better understood. Everyone wants to claim that they are limited but all cryptos are competing against each other and there are many. Each production of crypto devalues all the other cryptos becasue there is only a limited market for crypto currency. If Bitcoin was the only one, all the other investiment would just be in it. If someone was still pushing crypto, digital dollars that are being put together are a much better in offering blockchain benefits while also having acceptance, stability, and oversight.
 
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Prefect said:
It hasn't performed every asset. Its growth is not dissimilar to a lot of successful companies. You could play the hindsight game with any number of new companies.
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What do you mean by “it hasn’t performed every asset?”
 
SwamiLeoni said:
What do you mean by “it hasn’t performed every asset?”
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Small companies just starting out see similar valuation increases if they are successful. Bitcoin, while an interesting story, is in no way singular in regard to its increased valuation. It just makes a better story than Joe and Bob starting a successful line of urinal cakes.
 
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