And somehow MATIC is the safe haven for everyone, that project has been making insane gains ever since it listed.
It went for an All Time High during everything else crashing around it. Wow.
Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
31–40 of 211 posts
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#32other than trying to get the money of suckers, I've never understood the point of bitcoin. no currency, digital or not, can be removed from the world's activities. why would you ever want something that could plunge 30% in a day? even if it went up 5 billion percent, then what? everyone sells and it goes down? what's the point? it's like the most zero-sum activity imaginable. edit: I'm sincerely wondering what the va…
Something something hedge against 4% YoY inflation
Do stocks, commodities, real estate, etc... not work anymore?
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#33other than trying to get the money of suckers, I've never understood the point of bitcoin. no currency, digital or not, can be removed from the world's activities. why would you ever want something that could plunge 30% in a day? even if it went up 5 billion percent, then what? everyone sells and it goes down? what's the point? it's like the most zero-sum activity imaginable. edit: I'm sincerely wondering what the va…
It's a cool technology/concept, but at the cost of all the energy it's wasting to be a "speculative asset" at best... yeah, it's frustrating.
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#34other than trying to get the money of suckers, I've never understood the point of bitcoin. no currency, digital or not, can be removed from the world's activities. why would you ever want something that could plunge 30% in a day? even if it went up 5 billion percent, then what? everyone sells and it goes down? what's the point? it's like the most zero-sum activity imaginable. edit: I'm sincerely wondering what the va…
Your self-admitted lack of understanding is not evidence there's no value in Bitcoin.
If you want people to adopt your viewpoint, education works better without being rude and condescending.
If you want to promote others beliefs that Bitcoin has become a religious cult and MLM scheme, your attitude is perfect.
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#35Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#36other than trying to get the money of suckers, I've never understood the point of bitcoin. no currency, digital or not, can be removed from the world's activities. why would you ever want something that could plunge 30% in a day? even if it went up 5 billion percent, then what? everyone sells and it goes down? what's the point? it's like the most zero-sum activity imaginable. edit: I'm sincerely wondering what the va…
It's not zero sum, it already got close to 1% of the worlds electricity usage. It is negative sum.
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#37other than trying to get the money of suckers, I've never understood the point of bitcoin. no currency, digital or not, can be removed from the world's activities. why would you ever want something that could plunge 30% in a day? even if it went up 5 billion percent, then what? everyone sells and it goes down? what's the point? it's like the most zero-sum activity imaginable. edit: I'm sincerely wondering what the va…
It has a legitimate use as a store of value / means of exchange, especially in places where private, online banking services are not great.
However, because it is also used so heavily for speculation, it is very volatile and therefore not an optimal store of value / means of exchange.
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#38Earlier quoted context omitted.
Something something hedge against 4% YoY inflation
Not everyone in the world lives in an economy that has 4% YoY inflation. And not everyone has access to financial services or a developed banking sector
If you don't have a financial service / developed banking sector, how do you get your local currency into BTC and back?
Mt. Gox proved that you can't just trust random exchanges. Even in the best of times, the exchange can get hacked and all the holdings disappear.
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#39The value of cryptocurrencies is currently comprised of just a 3 components: 1) Speculation 2) Electricity 3) Compute There's going to be volatility.
If you could convert between gold and usd at the same rate that one can convert btc to usdt, gold would be just as volatile. Strangely the energy and human cost of gold is rarely mentioned
Re: Bitcoin’s plunge intensifies, tanks 30% to $30k in single day
#40Earlier quoted context omitted.
Something something hedge against 4% YoY inflation
Not everyone in the world lives in an economy that has 4% YoY inflation. And not everyone has access to financial services or a developed banking sector
sure, but let's say that you're in Turkey, and very worried about your currency devaluating 17% every year.
Does putting your money in something that can devaluate 30% in a day sound like a better solution?