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It can all go to zero

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Re: It can all go to zero

#271

Post by cableshaft »

starlust2 wrote: post #136
tessierashpool wrote: post #64

Earlier quoted context omitted.

There's not an equivalent to mutuals in the cryptoverse yet, but there will be. Working equivalents already exist.

At this point crypto mutual funds don't really make sense. They all fall and rise together for the most part.

That's a good point, and I think part of that is in order to get most alts you have to first get either bitcoin, ethereum or litecoin (or a couple others) first. Hopefully that either won't be true forever, or we'll get to the point where we stop using USD as the basis of comparison for all the currencies.

Re: It can all go to zero

#272

Post by [deleted] »

tbabb wrote: post #261
adamnemecek wrote: post #51

Earlier quoted context omitted.

Ok can you talk more about your failure case then? What are the conditions like what exactly is the end result. There are 0 exchanges?

It absolutely boggles my mind that so many people in this thread cannot conceive of a run on crypto. I assume they probably don't even know what a "run" is . And it boggles my mind that their only conception of failure is some kind of catastrophe or monumental event, like nuclear war, or quantum computing breaking cryptography. LITERALLY ALL THAT NEEDS TO HAPPEN IS THAT PEOPLE SUDDENLY WANT IT LESS . Excuse my caps.…

[deleted]

Re: It can all go to zero

#274

Post by [deleted] »

tbabb wrote: post #267
adamnemecek wrote: post #264

Earlier quoted context omitted.

Ok, who's doing this run? There are too many people at this point. There ins't a single entity that is currently capable of controlling all markets at all time. Or like predictably. It's funny, in this thread you dont really see much crypto optimism despite this meme being around for some time now. > What is being traded is like MMORPG game money or game items. There's definitely that aspect to crypto but its naive t…

> Ok, who's doing this run? There are too many people at this point. There ins't a single entity that is currently capable of controlling all markets at all time. No offense, but I think this proves my point about commenters not having any clue what a run is or how markets work. Explain to me what you think causes a run?

[deleted]

Re: It can all go to zero

#275

Post by adamnemecek »

tbabb wrote: post #267
adamnemecek wrote: post #264

Earlier quoted context omitted.

Ok, who's doing this run? There are too many people at this point. There ins't a single entity that is currently capable of controlling all markets at all time. Or like predictably. It's funny, in this thread you dont really see much crypto optimism despite this meme being around for some time now. > What is being traded is like MMORPG game money or game items. There's definitely that aspect to crypto but its naive t…

> Ok, who's doing this run? There are too many people at this point. There ins't a single entity that is currently capable of controlling all markets at all time. No offense, but I think this proves my point about commenters not having any clue what a run is or how markets work. Explain to me what you think causes a run?

Describe to me how it's a run, I'll tell you why it's not. How about that.

Is it really that unbelievable that bitcoin breaks certain economic rules and that some economic theory might have to be rethought? Is that what you are implying? That economics is like "science"?

Re: It can all go to zero

#276

Post by xenadu02 »

splintercell wrote: post #167
saas_co_de wrote: post #143

Earlier quoted context omitted.

The interesting thing is that this is what a real free market looks like. This is what any market would look like without being rigged by governments and government backed institutions. Bitcoin may be the best proof yet of how deeply flawed the libertarian free market ideology really is.

> Bitcoin may be the best proof yet of how deeply flawed the libertarian free market ideology really is. The price of gold isn't stable because the visible hand of the govt has stabilized it, or if there is any law which protects it. If you have convinced yourself that this is the reason why it is stable, then you're drinking your own kool aide. The price of gold, or any currency is stable because its market has been…

Gold and silver aren't stable, they fluctuate all the time just at long timescales compared to humans. When the Comstock Lode was discovered it massively affected the price of silver. Similarly when Spain stole Aztec gold it caused changes in the value of gold.

If someone ever manages to mine asteroids for gold or we discover a previously unknown reserve we'll see more price shocks.

I don't know where you got the idea that the supply of gold was stable; it is merely inflexible because it depends on physically digging it out of the dirt.

Re: It can all go to zero

#277

Post by adamnemecek »

virgilp wrote: post #270
adamnemecek wrote: post #245

Earlier quoted context omitted.

> Bitcoin is so divisive you've managed to shit on his parents to win an argument. Not really, I dislike the fact that he volunteers this information. Replace ivory with child pornography (ethically they aren't that different). Would you still defend op's parents? Also note, it was a side note, I didn't say it to win an argument. > If it's illegal, doesn't it's value go way down? If you literally risk jailtime to sel…

"Heavy regulation" is quite enough to take any particular coin to 0 value. > Not really, I dislike the fact that he volunteers this information. Replace ivory with child pornography (ethically they aren't that different). Well, they're quite different. Morally, legally, whatever, the society at large assigns larger value to a human than to an animal - any animal. Plus, they didn't do anything illegally - at the time…

It would have to heavy regulation everywhere in the world.

Re: It can all go to zero

#278

Post by cableshaft »

adamnemecek wrote: post #246
twblalock wrote: post #234

Earlier quoted context omitted.

Only because the value of the underlying company would plunge as well, due to loss of revenue. But it wouldn't hit zero. Google would still have other products than search, a lot of valuable IP and patents, real estate, etc.

I meant google as a company. Very little of Google's value is in real estate. Do they even own all of their offices?

I can tell you for sure that they don't. I know people in corporate real estate that won a bid to lease corporate real estate to Google recently. But that's true of almost all offices of major corporations. Very few of them own their own buildings, except maybe a headquarters here or there. They pretty much all lease.

Re: It can all go to zero

#279

Post by adamnemecek »

Jtsummers wrote: post #247
adamnemecek wrote: post #178

Earlier quoted context omitted.

Ok so we disagree on whether Bitcoin has peaked or not. Do you feel like crypto has peaked? There's this half trilion just waiting to be multiplied. Like people just bought in, they wont be selling. In some sense, I wonder if the fact that beginner investors bought in means that it's more resistant to a price dump as they wont have stop losses. If they bought for 1000, they wont sell for 500 thereby keeping the price…

Someone buying for $1000 and not selling for $500 will not keep the price afloat. It just means they're stuck with something they refuse to sell and no one else wants to buy. Other people will sell at the lower price (to get out and write off their losses rather than incur more) and the price will drop anyways.

It's not someone. It could be large part of the market.

Re: It can all go to zero

#280

Post by [deleted] »

inyourtenement wrote: post #125
kybernetikos wrote: post #57

Earlier quoted context omitted.

You're right. Bitcoin was a significant and interesting technological step even if it ultimately fails in other ways. As long as we have a civilisation there will always be someone prepared to run a miner and own some for historical interest. Maybe 0 isn't right for bitcoin but it is possible for it to go incredibly low and there are altcoins for which there isn't even any historical interest....

> As long as we have a civilisation That is a crazy claim.

[deleted]
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