311–320 of 448 posts
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This is not an investment because there is no asset behind it. (no production) It is a speculative vehicle.
The rights to Mickey Mouse are about as productionless as any crypto, and I'd struggle to find anyone that doesn't think it would be a great investment.
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I'd go a step further with the comparison to gold. If everyone would stop mining gold today, gold would retain value (or perhaps even go up in value). On the flipside, if we turned off all bitcoin miners today, bitcoin would go to zero instantly (as its worthless without continuous resources being pumped into it). This is why I'm sympathetic to those who say its ponzi scheme, it only has value because of new resource…
And if we turned off the internet how many companies would be worthless, because that is about as likely to happen as all mining stopping.
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No, it's true, this place has a difficult time seeing nuance between bitcoin and crypto.
Ok, I'll bite. Give me the elevator pitch. I'm not in tech [0] so treat me as you would a grandmother. Average speaking speed is ~150 words/minute. Say the average elevator ride is ~30 seconds. So, in ~75 words, tell me what the nuance is as you would say to a grandmother? That fair? To be clear, I'm honestly not trying to be snarky. Sorry if it comes off that way. I can only multitask through this meeting so well. […
If you were to create the best monetary system, how would it be? The answer to that is a system with a policy that simply doesn't change. That's the best system because predictability is the only quality that matters when you are storing value. The best governments in the world try their best to achieve that, but they always fail. How then can we achieve that? With decentralization. That's a very expensive, inefficient and slow way to go about things. But it is all that matters if we want to build a sane monetary system, which doesn't allow anyone to change its emission rate. No "crypto" achieves that same trust we all have about the decentralized quality of Bitcoin. That's why they don't matter.
When Crypto was young it was this cool new technology that mostly interesting because of the underlying tech. But even back then it was mostly valuable for buying drugs online and other illegal stuff. Now it's that and a way to scam people of their life savings. I do hope it dies out, it should have been heavily regulated from the get go. Way too many people saw these high production commercials with their favorite c…
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When bitcoin first came onto the scene I personally knew a guy who was running a website to act as an exchange. It was small because bitcoin itself at that time was very small. Then bitcoin had its very first dip and it became unprofitable to mine bitcoins. When that happened he shuttered the website and kept everyone's bitcoins. I knew of bitcoin early on due to this guy, but even then I had no interest and consider…
Broadscale, crypto seems to have had an "Eternal September" moment and I think that's where the problems really began. Back in the early days before crypto entered the mainstream, it was pretty much like any other internet project. It was cool to be able to buy a pizza with internet funny money but by then it was still pretty small and everyone knew the inherent risks. Then came the "Eternal September" where cryto we…
When Crypto was young it was this cool new technology that mostly interesting because of the underlying tech. But even back then it was mostly valuable for buying drugs online and other illegal stuff. Now it's that and a way to scam people of their life savings. I do hope it dies out, it should have been heavily regulated from the get go. Way too many people saw these high production commercials with their favorite c…
When bitcoin first came onto the scene I personally knew a guy who was running a website to act as an exchange. It was small because bitcoin itself at that time was very small. Then bitcoin had its very first dip and it became unprofitable to mine bitcoins. When that happened he shuttered the website and kept everyone's bitcoins. I knew of bitcoin early on due to this guy, but even then I had no interest and consider…
I've been in crypto since 2013 and people have been insulting crypto and everyone in it as scammers, I'm not sure how another centralized exchange stealing user funds is any diferent than all the past ones.
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Ok, I'll bite. Give me the elevator pitch. I'm not in tech [0] so treat me as you would a grandmother. Average speaking speed is ~150 words/minute. Say the average elevator ride is ~30 seconds. So, in ~75 words, tell me what the nuance is as you would say to a grandmother? That fair? To be clear, I'm honestly not trying to be snarky. Sorry if it comes off that way. I can only multitask through this meeting so well. […
Let me try. If you were to create the best monetary system, how would it be? The answer to that is a system with a policy that simply doesn't change. That's the best system because predictability is the only quality that matters when you are storing value. The best governments in the world try their best to achieve that, but they always fail. How then can we achieve that? With decentralization. That's a very expensiv…
When Crypto was young it was this cool new technology that mostly interesting because of the underlying tech. But even back then it was mostly valuable for buying drugs online and other illegal stuff. Now it's that and a way to scam people of their life savings. I do hope it dies out, it should have been heavily regulated from the get go. Way too many people saw these high production commercials with their favorite c…
Outside of cash there needs to be a viable method to do anonymous transactions- be it illegal or not. I don’t think crypto is going away for this reason alone.
Crypto will never fill that void.
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> It's not possible for the value of gold to go to zero The price might go to zero, though. The price of oil, which is arguably more useful than gold, went negative a couple of years back. Having intrinsic value doesn't necessarily mean it is exchangeable, especially if it needs to be exchanged at a given moment in time.
Oil (and gas) are specific cases, not relatable to gold... The point with oil is its extraction can't be stoped overnight, and thus has to be stored in case of excessive production, which has itself a cost. Demand droped significantly when the lockdown occured ; storage facilities where saturated ; and oil was kept in oil tankers which are pretty expensive. The negative price reflected the cost of storage. There is n…