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Bitcoin and cryptocurrency prices have fallen sharply over the last few days
181–190 of 259 posts
Re: Bitcoin and cryptocurrency prices have fallen sharply over the last few days
#182Earlier quoted context omitted.
> Bitcoin market is like the regular equities market No it's not. The Bitcoin market is the exact opposite: it's unnecessary and of little consequential tangible value to the real economy. The regular equity markets have a large share of the productive output of nations behind them, including the employment and taxation that goes with that. Companies that actually produce goods and services. In many cases goods and s…
> It could disappear tomorrow and other than the lost capital trapped in it, it wouldn't matter in a meaningful way; and it wouldn't matter at all to the average person. That's because Bitcoin is a zero-sum game. No value is created or lost, it's basically just a big game of poker.
This. Stocks can still generate dividends. The only way you
're making money from Bitcoin investments is if some other sucker buys it off you for more than you spent.
Re: Bitcoin and cryptocurrency prices have fallen sharply over the last few days
#183Wait...aren't crypto currencies supposed to be the favored monetary instrument during times of crises?
Supposed by whom? Mad people, I suppose, but besides them.
Re: Bitcoin and cryptocurrency prices have fallen sharply over the last few days
#184I've been trying to avoid looking at my bitcoin portfolio lol. I agree the volatility in its price makes it far from ideal as an alternative currency. That being said what keeps me invested (a relatively small portion) is looking at places like Venezuela and a few other pockets of areas where the monetary system has collapsed or undergone hyper-inflation, bitcoin is being used as a means of exchange, albeit still rather limited. That goes to show the proof of concept works. Hence I think there is somewhat of a chance that there could be a more widespread use case for it, especially as the ecb and possibly the fed start flooding the markets with liquidity again.
Re: Bitcoin and cryptocurrency prices have fallen sharply over the last few days
#185Crypto crashing at a time like this is actually tell me its true colors
That the crypto market is largely controlled by the exchanges?
Re: Bitcoin and cryptocurrency prices have fallen sharply over the last few days
#186Earlier quoted context omitted.
“Only the people making this bet will be affected if Bitcoin fails” Which means that it’s just a gamble of some insiders.
Does it feel like I’m arguing that point? I’m not. Speculation is by definition gambling. Investing is also speculation. You have a thesis, and you make returns if that plays out. You lose capital when you are wrong. Also, I'm not sure what you mean by "insiders" - most of the world can purchase Bitcoin, the software is OSS, the network inspectable, and the evolving thesis and narrative is fully available online. Bit…
Whether or not I agree with your position, I'll give you mad props for sustained and well-reasoned argument.
Re: Bitcoin and cryptocurrency prices have fallen sharply over the last few days
#187I actively trade crypto. Today's crash was due (from what I'm seeing) to a massive Bitmex contract liquidation (probably in the $100m-300m range). The market, with panic, couldn't get the price in sync across all exchanges. At some point the difference between two exchanges is close to $1000/btc. Very profitable if you know what you are doing. You can AMA.
Re: Bitcoin and cryptocurrency prices have fallen sharply over the last few days
#188Earlier quoted context omitted.
I'm truly struggling to understand how gold can be censored. Also, left out of this discussion is the fact that gold is actually tangible, divorced from some weird semantic backflips. You can build useful things with it.
Holding Bitcoin is not a semantic backflip. Do you hold the dollars in your bank account? Also: gold can easily be confiscated and it has been before - https://en.m.wikipedia.org/wiki/Executive_Order_6102 . How much gold do you think you can travel with? Think the TSA would allow even $100k of gold to be carried on your person? Given golds limited supply, why has the price been relatively stable in dollars (which are…
> Do you hold the dollars in your bank account?
No, we don't, which is exactly why gold is considered superior.
Re: Bitcoin and cryptocurrency prices have fallen sharply over the last few days
#189Earlier quoted context omitted.
You don't have to transport a heavy metal, instead all you have to do is ensure an electrical grid, fully functional internet access, and a distributed network of other people! I'm not sure that's any easier than carry around metal :P
It isn't, it is more difficult, but it is a different kind of difficult. That is why both have a place, and will continue to do so until a social collapse, at which point only gold will remain. But until such a point, bitcoin exists as sometime harder to trade than gold in some ways and easier in others. It also borrows a bit from fiat currency in that it only has value because we agree to give it value (at least gre…
There is no such thing as “intrinsic” value. Value requires an evaluator.
Maybe you mean that bitcoin doesn’t have value outside of its ostensive monetary value. Bitcoin has that too. It can back up data to thousands of locations and be censorship resistant and have a verifiable timestamp.