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» I still think BTC is going to zero, unless someone can tell me....
03-06-2024, 01:34 PM
#91
Originally Posted By Horse86⏩
That claim is too vague to mean anything. Every business is worth $0 when it opens. So really, whatever business has the largest market cap is the "most successful" over the span of time. $1 invested into Apple at its origin would be worth more than $1 invested into BTC at its origin.
Did you just skip the first sentence where I said "There is no asset in the history of civilization that has outperformed bitcoin."…please dispute it….I want to see your mental gymnastics.
If you'd like to define the window of time you're evaluating, someone could have a better chance of actually debating the topic.
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03-06-2024, 01:38 PM
#92
Think about all the energy, hardware, money, and man hours invested into something that could become nothing overnight other than training wheels for gov crypto.
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03-06-2024, 01:38 PM
#93
I need to clarify that no one can predict the future. I’m basing this on my economics studies.
Even for the fans of BTC, to claim that it’s better would be prophecy. BTC is completely experimental. EMP attacks? What then? Governments decide to try to regulate it? It all comes crashing down. AI is used to hack the system? The biggest players decide to cash out? Big crash and chance it never recovers. In each of these cases, there is nothing to fall back on. No commodities. No securities. Nothing to keep it stable.
Gold has come up in this thread, and I want to point a few things out. Here are counters to some of the arguments;
>Gold has been valued for thousands of years, making it one of the most stable currencies in human history.
>Government intervention is devastating to currencies and we must account for this potential
>In the modern era, Gold is used as a hedge against inflation, which is what caused some volatility to gold, although not the citizen’s fault. This is the Fed’s fault.
>The value of gold has consistently gone up, but if you look at the historical charts, you will see that the Fed purposely interferes to push gold down. Gold consistently went up until the creation of the Fed.
>Regarding the comment that people collectively determine the value of currency, this chart would indicate that we collectively wanted the value of the dollar to decrease
If we remove government, then we can follow a lot of the traditional laws of currencies. With Bitcoin, it opens up a whole new set of unforeseen challenges, even if we can keep government out of it.
Even for the fans of BTC, to claim that it’s better would be prophecy. BTC is completely experimental. EMP attacks? What then? Governments decide to try to regulate it? It all comes crashing down. AI is used to hack the system? The biggest players decide to cash out? Big crash and chance it never recovers. In each of these cases, there is nothing to fall back on. No commodities. No securities. Nothing to keep it stable.
Gold has come up in this thread, and I want to point a few things out. Here are counters to some of the arguments;
>Gold has been valued for thousands of years, making it one of the most stable currencies in human history.
>Government intervention is devastating to currencies and we must account for this potential
>In the modern era, Gold is used as a hedge against inflation, which is what caused some volatility to gold, although not the citizen’s fault. This is the Fed’s fault.
>The value of gold has consistently gone up, but if you look at the historical charts, you will see that the Fed purposely interferes to push gold down. Gold consistently went up until the creation of the Fed.
>Regarding the comment that people collectively determine the value of currency, this chart would indicate that we collectively wanted the value of the dollar to decrease
If we remove government, then we can follow a lot of the traditional laws of currencies. With Bitcoin, it opens up a whole new set of unforeseen challenges, even if we can keep government out of it.
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03-06-2024, 01:43 PM
#94
Originally Posted By samsbolton⏩
"How Long Do Wire Transfers Take?
Wrong. Bought a property few years ago bank transfer, instant, free. Do lots of business in aus/nz instant, free. AND payment protected.
No one uses crypto for anything legal and/or substantial because there is no payment protection. None of it is a currency. Pure ponzi which is why it gets shilled
No one uses crypto for anything legal and/or substantial because there is no payment protection. None of it is a currency. Pure ponzi which is why it gets shilled
Transfers typically happen quickly. Generally, domestic bank wires are completed in three days, at most. If transfers occur between accounts at the same financial institution, they can take less than 24 hours. Wire transfers via a non-bank money transfer service may happen within minutes.
If you’re sending money to another country, however, it may take as many as five days for the recipient to receive their funds. To find out exactly how long it’ll take to receive funds from a wire transfer, you’ll need to check with your bank or credit union. If you’re in a rush, you can find out if there’s a way to expedite the process.
Occasionally, there are delays. If the bank sending the funds makes a mistake, a wire transfer may take longer than expected. Holidays can also disrupt wire transfers. Prepare for delays if you’re receiving money from a slow-to-pay country such as Afghanistan or Cuba." https://smartasset.com/checking-acco...-transfer-take
Meanwhile, crypto you can actually send your stored value to anyone in the world instantly without dealing with any bank. I'm not saying this replaces banks, but there is an obvious use case for this that gives it a purpose and value to exist and keep existing.
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03-06-2024, 01:50 PM
#95
Originally Posted By Contribution05⏩
The issue with trying to use it as a legitimate currency is it's volatility. Accepting payments for goods and services in crypto is a gamble for both the buyer and seller because it's value could go up or down right after the sale takes place.
"How Long Do Wire Transfers Take?
Transfers typically happen quickly. Generally, domestic bank wires are completed in three days, at most. If transfers occur between accounts at the same financial institution, they can take less than 24 hours. Wire transfers via a non-bank money transfer service may happen within minutes.
If you’re sending money to another country, however, it may take as many as five days for the recipient to receive their funds. To find out exactly how long it’ll take to receive funds from a wire transfer, you’ll need to check with your bank or credit union. If you’re in a rush, you can find out if there’s a way to expedite the process.
Occasionally, there are delays. If the bank sending the funds makes a mistake, a wire transfer may take longer than expected. Holidays can also disrupt wire transfers. Prepare for delays if you’re receiving money from a slow-to-pay country such as Afghanistan or Cuba." https://smartasset.com/checking-acco...-transfer-take
Meanwhile, crypto you can actually send your stored value to anyone in the world instantly without dealing with any bank. I'm not saying this replaces banks, but there is an obvious use case for this that gives it a purpose and value to exist and keep existing.
Transfers typically happen quickly. Generally, domestic bank wires are completed in three days, at most. If transfers occur between accounts at the same financial institution, they can take less than 24 hours. Wire transfers via a non-bank money transfer service may happen within minutes.
If you’re sending money to another country, however, it may take as many as five days for the recipient to receive their funds. To find out exactly how long it’ll take to receive funds from a wire transfer, you’ll need to check with your bank or credit union. If you’re in a rush, you can find out if there’s a way to expedite the process.
Occasionally, there are delays. If the bank sending the funds makes a mistake, a wire transfer may take longer than expected. Holidays can also disrupt wire transfers. Prepare for delays if you’re receiving money from a slow-to-pay country such as Afghanistan or Cuba." https://smartasset.com/checking-acco...-transfer-take
Meanwhile, crypto you can actually send your stored value to anyone in the world instantly without dealing with any bank. I'm not saying this replaces banks, but there is an obvious use case for this that gives it a purpose and value to exist and keep existing.
03-06-2024, 02:14 PM
#96
Originally Posted By Kraken⏩
I need to clarify that no one can predict the future. I’m basing this on my economics studies.
Even for the fans of BTC, to claim that it’s better would be prophecy. BTC is completely experimental. EMP attacks? What then? Governments decide to try to regulate it? It all comes crashing down. AI is used to hack the system? The biggest players decide to cash out? Big crash and chance it never recovers. In each of these cases, there is nothing to fall back on. No commodities. No securities. Nothing to keep it stable.
Gold has come up in this thread, and I want to point a few things out. Here are counters to some of the arguments;
>Gold has been valued for thousands of years, making it one of the most stable currencies in human history.
>Government intervention is devastating to currencies and we must account for this potential
>In the modern era, Gold is used as a hedge against inflation, which is what caused some volatility to gold, although not the citizen’s fault. This is the Fed’s fault.
>The value of gold has consistently gone up, but if you look at the historical charts, you will see that the Fed purposely interferes to push gold down. Gold consistently went up until the creation of the Fed.
>Regarding the comment that people collectively determine the value of currency, this chart would indicate that we collectively wanted the value of the dollar to decrease
[ig]https://www.historytoday.com/sites/default/files/chart.jpg
If we remove government, then we can follow a lot of the traditional laws of currencies. With Bitcoin, it opens up a whole new set of unforeseen challenges, even if we can keep government out of it.
Even for the fans of BTC, to claim that it’s better would be prophecy. BTC is completely experimental. EMP attacks? What then? Governments decide to try to regulate it? It all comes crashing down. AI is used to hack the system? The biggest players decide to cash out? Big crash and chance it never recovers. In each of these cases, there is nothing to fall back on. No commodities. No securities. Nothing to keep it stable.
Gold has come up in this thread, and I want to point a few things out. Here are counters to some of the arguments;
>Gold has been valued for thousands of years, making it one of the most stable currencies in human history.
>Government intervention is devastating to currencies and we must account for this potential
>In the modern era, Gold is used as a hedge against inflation, which is what caused some volatility to gold, although not the citizen’s fault. This is the Fed’s fault.
>The value of gold has consistently gone up, but if you look at the historical charts, you will see that the Fed purposely interferes to push gold down. Gold consistently went up until the creation of the Fed.
>Regarding the comment that people collectively determine the value of currency, this chart would indicate that we collectively wanted the value of the dollar to decrease
[ig]https://www.historytoday.com/sites/default/files/chart.jpg
If we remove government, then we can follow a lot of the traditional laws of currencies. With Bitcoin, it opens up a whole new set of unforeseen challenges, even if we can keep government out of it.
If….
If…
If….
A lot of what ifs brah.
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03-06-2024, 02:49 PM
#97
Originally Posted By LinuxJon⏩
Wtf asset class it's supposed to be.
Currency? Okay. Show me who is actually buying and selling using BTC as the native payment method. Could your parents pay their mortgage or buy their groceries in BTC?
Okay so not currency. It's a commodity then, right? Okay. What is its utility? Because something can't be a commodity if it's only used as a store of value.
If you say blockchain is the utility, that's fine too. Except BTC doesn't own blockchain and its uses for other things has no benefit to BTC.
You're left with this being a fully speculative investment. Which is exactly how things go to zero.
Currency? Okay. Show me who is actually buying and selling using BTC as the native payment method. Could your parents pay their mortgage or buy their groceries in BTC?
Okay so not currency. It's a commodity then, right? Okay. What is its utility? Because something can't be a commodity if it's only used as a store of value.
If you say blockchain is the utility, that's fine too. Except BTC doesn't own blockchain and its uses for other things has no benefit to BTC.
You're left with this being a fully speculative investment. Which is exactly how things go to zero.
Uncommon to see this level of critical thinking/understanding here on the Misc. GJDM.
There's no real value. The value is that it's a "nothing" item propped up by hope. 75% of men who don't understand finance or investing bought into this, having no idea how investments actually work, because they saw it on the internet and thought they were jumping in on get rich quick.
It bumped up after the fad blew up, as a result, they bragged to their friends and girlfriends about "buying crypto", it boosted their ego and they felt smart.
Now, those same people don't want to give up crypto or sell because it's tied to their ego and sense of self worth, hence why the "fad" is still going. They don't want to admit it was a gamble and got lucky temporarily, they want it to be a sign of their intelligence.
The fad will slowly die out though. There's very very little utility.
A government like the US won't give up it's currency, currency is it's power. Coins won't be federally backed, if you lose it, you're out versus banks will protect and back up your dollars if they're lost/stolen. It's not going to be a currency for any major country because it's nowhere near stable enough, and it's based on nothing. BTC can't process transactions nearly fast enough for a real currency.
The dollar can be transferred digitally and instantly for free, especially with new technology coming out. It's stable, backed by superpowers, regulated, and backed by FDIC and banks.
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03-06-2024, 04:03 PM
#98
It is the #1 Source of Money Laundering around the world now, inhuman sums of money are tied up in it by people who kill people to stay rich. It'll never die off, it will just get to a happy point where it becomes easier for them to move money with it.
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03-06-2024, 04:11 PM
#99
Originally Posted By Jayce_⏩
Unless the world governments decide it's too tied up in that stuff and outlaw it. At which point good luck spending your chitcoins.
It is the #1 Source of Money Laundering around the world now, inhuman sums of money are tied up in it by people who kill people to stay rich. It'll never die off, it will just get to a happy point where it becomes easier for them to move money with it.
03-06-2024, 04:24 PM
#100
Originally Posted By Contribution05⏩
My business relied on immediate transfer of funds and I never, ever had a problem anywhere in the world with conventional credit facilities.
"How Long Do Wire Transfers Take?
Transfers typically happen quickly. Generally, domestic bank wires are completed in three days, at most. If transfers occur between accounts at the same financial institution, they can take less than 24 hours. Wire transfers via a non-bank money transfer service may happen within minutes.
If you’re sending money to another country, however, it may take as many as five days for the recipient to receive their funds. To find out exactly how long it’ll take to receive funds from a wire transfer, you’ll need to check with your bank or credit union. If you’re in a rush, you can find out if there’s a way to expedite the process.
Occasionally, there are delays. If the bank sending the funds makes a mistake, a wire transfer may take longer than expected. Holidays can also disrupt wire transfers. Prepare for delays if you’re receiving money from a slow-to-pay country such as Afghanistan or Cuba." https://smartasset.com/checking-acco...-transfer-take
Meanwhile, crypto you can actually send your stored value to anyone in the world instantly without dealing with any bank. I'm not saying this replaces banks, but there is an obvious use case for this that gives it a purpose and value to exist and keep existing.
Transfers typically happen quickly. Generally, domestic bank wires are completed in three days, at most. If transfers occur between accounts at the same financial institution, they can take less than 24 hours. Wire transfers via a non-bank money transfer service may happen within minutes.
If you’re sending money to another country, however, it may take as many as five days for the recipient to receive their funds. To find out exactly how long it’ll take to receive funds from a wire transfer, you’ll need to check with your bank or credit union. If you’re in a rush, you can find out if there’s a way to expedite the process.
Occasionally, there are delays. If the bank sending the funds makes a mistake, a wire transfer may take longer than expected. Holidays can also disrupt wire transfers. Prepare for delays if you’re receiving money from a slow-to-pay country such as Afghanistan or Cuba." https://smartasset.com/checking-acco...-transfer-take
Meanwhile, crypto you can actually send your stored value to anyone in the world instantly without dealing with any bank. I'm not saying this replaces banks, but there is an obvious use case for this that gives it a purpose and value to exist and keep existing.
Yes you can send crypto anywhere immediately, but no one does. No one uses it as a currency at all, apart from basket case Venezuela who have no choice.
Why does no one use it as a currency? You know the answer. Everyone knows the answer.
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03-06-2024, 04:41 PM
#101
I'm not a coincel hater but I also don't understand how this wouldn't come crashing back down at some point. It's not going to happen right now because too many people are hyped on it but at some point the logical explanation is this won't sustain itself.
03-06-2024, 04:52 PM
#102
Originally Posted By Kiop⏩
Biblically speaking… You must have followed Ron since the beginning?
we cant guarantee our
selfs if we will be alive
or healthy by tomorrow or after couple of days.
so your point of view is valid,enjoy it as it last.
in the ass.
selfs if we will be alive
or healthy by tomorrow or after couple of days.
so your point of view is valid,enjoy it as it last.
in the ass.
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03-06-2024, 05:02 PM
#103
do i need internet to use it?
what if the internet goes rogue and they start slowing it down in parts of the world just before a whale dumps at another location lol
bitcoin isn't for the common man to get rich anymore
nobody can afford a full bitty unless they already millionaires then they usually have a good enough business brain to make money else where
ffs wish i hadn't missed the boat lol
what if the internet goes rogue and they start slowing it down in parts of the world just before a whale dumps at another location lol
bitcoin isn't for the common man to get rich anymore
nobody can afford a full bitty unless they already millionaires then they usually have a good enough business brain to make money else where
ffs wish i hadn't missed the boat lol
03-06-2024, 06:19 PM
#104
It’s worth mentioning that pension funds do not sell. They allocate, and hold forever. So the talk of bitcoin going to zero is just false.
Also, again, it seems nocoincels don’t grasp the main point: bitcoin has finite supply, dollar does not, thus bitcoin is just a convenient way to protect yourself against inflation without moving around trucks and suitcases of gold bricks.
It’s fairly simple. What’s all the arguing about?
If anything bitcoin is safer now than it ever was, since it got government stamp of approval, and clean up has taken place with scam artists in crypto going to prison etc. The big boys are involved now. And amazingly retail got to front run Wall Street. We should cherish this rare opportunity and ride the wave up, ETFs are buying billions of dollars of bitcoin.
OP talks about Apple stock above. Can you sell covered calls on 100k of Apple stock and make 14k weekly week after week after week? You can on bitcoin. Embrace the volatility and the opportunity.
Also, again, it seems nocoincels don’t grasp the main point: bitcoin has finite supply, dollar does not, thus bitcoin is just a convenient way to protect yourself against inflation without moving around trucks and suitcases of gold bricks.
It’s fairly simple. What’s all the arguing about?
If anything bitcoin is safer now than it ever was, since it got government stamp of approval, and clean up has taken place with scam artists in crypto going to prison etc. The big boys are involved now. And amazingly retail got to front run Wall Street. We should cherish this rare opportunity and ride the wave up, ETFs are buying billions of dollars of bitcoin.
OP talks about Apple stock above. Can you sell covered calls on 100k of Apple stock and make 14k weekly week after week after week? You can on bitcoin. Embrace the volatility and the opportunity.
03-06-2024, 06:19 PM
#105
Originally Posted By Horse86⏩
1) what happens when the supply runs out?
Bitcoin has a store of value bc it has a fixed supply/cap
2) why would it keep going up in value?
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03-06-2024, 06:22 PM
#106
Originally Posted By propreffered7⏩
1) supply crunch, investing 101, massive gainz. Biblical proportion gainz. Will make NVDA look like sp500
1) what happens when the supply runs out?
2) why would it keep going up in value?
2) why would it keep going up in value?
2) because institutions and individuals want to protect themselves against debasing fiat so they want to buy.
03-06-2024, 06:38 PM
#107
Originally Posted By samsbolton⏩
Quit frauding boyo. I’ve been using coinbase back when you had to do wires at the bank in person.
Wrong. Bought a property few years ago bank transfer, instant, free. Do lots of business in aus/nz instant, free. AND payment protected.
No one uses crypto for anything legal and/or substantial because there is no payment protection. None of it is a currency. Pure ponzi which is why it gets shilled
No one uses crypto for anything legal and/or substantial because there is no payment protection. None of it is a currency. Pure ponzi which is why it gets shilled
Imagine still using banks to handle your money on their schedule. What a cuck
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03-06-2024, 06:41 PM
#108
Originally Posted By kusok⏩
i understand what you're saying, but i dont understand its application to utility
1) supply crunch, investing 101, massive gainz. Biblical proportion gainz. Will make NVDA look like sp500
2) because institutions and individuals want to protect themselves against debasing fiat so they want to buy.
2) because institutions and individuals want to protect themselves against debasing fiat so they want to buy.
i understand you're saying #1 it will get more scarce and #2 i understand its limited supply makes it deflationary
but "debasing" only makes sense in value relative to fiat correct? which implies to me that its ultimate nature lies in its utility, as in it would then be used as a currency
which i find hard to believe
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03-06-2024, 06:44 PM
#109
Originally Posted By mulletwarrior⏩
Honestly not sure if you are a sophisticated troll or an absolute drooling potato. Do you know what ETFs are? Do you know who funds them? No powerful entity is "backing" anything. In ETF is basically just an index fund. You put your money into it, they use that money to buy assets (in this case crypto), and you own a small slice of those assets indirectly through your ownership in the ETF.
JFL. If the ETF goes down to $0, noone is acting as a guarantor for your money, your value in the ETF just goes down to $0.
In other words, quite literally noone is backing anything in any ETF.
JFL. If the ETF goes down to $0, noone is acting as a guarantor for your money, your value in the ETF just goes down to $0.
In other words, quite literally noone is backing anything in any ETF.
Just Proved you know Fuk all about it this space. There were etfs before the spot btc etf. The complaint was they weren’t backed. SPOT BTC ETFS ARE BACKED BY THE COLD HARD CRYPTO LARRY IS NOW BUYING BY THE BILLIONS. GET IT NOW SMOOTHBRAIN?
1B in BTC spot ETFs traded DAILY since the spot ETFs were given the green light.
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03-06-2024, 06:50 PM
#110
Originally Posted By samsbolton⏩
Wrong again. People have bought houses with Bitcoin. Athletes take Bitcoin for payment. More and more places accepting crypto in payment.
My business relied on immediate transfer of funds and I never, ever had a problem anywhere in the world with conventional credit facilities.
Yes you can send crypto anywhere immediately, but no one does. No one uses it as a currency at all, apart from basket case Venezuela who have no choice.
Why does no one use it as a currency? You know the answer. Everyone knows the answer.
Yes you can send crypto anywhere immediately, but no one does. No one uses it as a currency at all, apart from basket case Venezuela who have no choice.
Why does no one use it as a currency? You know the answer. Everyone knows the answer.
One of the first noted purchase with Bitcoin was a pizza over a decade ago!! Jfl laughing at your stupidity.
All your posts are gaslighting BS.
>Muh no one uses crypto.
Better call wall-street and Fink and tell them they don’t know what they are doing
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03-06-2024, 06:50 PM
#111
Originally Posted By propreffered7⏩
i understand what you're saying, but i dont understand its application to utility
i understand you're saying #1 it will get more scarce and #2 i understand its limited supply makes it deflationary
but "debasing" only makes sense in value relative to fiat correct? which implies to me that its ultimate nature lies in its utility, as in it would then be used as a currency
which i find hard to believe
i understand you're saying #1 it will get more scarce and #2 i understand its limited supply makes it deflationary
but "debasing" only makes sense in value relative to fiat correct? which implies to me that its ultimate nature lies in its utility, as in it would then be used as a currency
which i find hard to believe
I don’t think it needs to be used as currency to be a store of value. Gold is not a currency, yet people use it to protect themselves against inflation, real estate is not a currency, but people buy that also, antiques are not currency, but people buy those since their price goes up 10-15% per year, to hedge against inflation.
03-06-2024, 06:53 PM
#112
Originally Posted By propreffered7⏩
Do you even supply and demand Econ 101?
1) what happens when the supply runs out?
2) why would it keep going up in value?
2) why would it keep going up in value?
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03-06-2024, 07:50 PM
#113
You can gamble with crypto but also at the same time admit to yourself you have very little idea what it is or what it does or how it works on a deeper level. It's just funny when people start defending it with all their might but deep down they don't know anything about it.
Just because people use it to buy and sell things doesn't make it a currency that's going to be widely adapted. No big business is going to play with this type of volatility. Imagine a wholesale manufacturing business selling 500k pieces of product per month and they accept 700BTC as payment which is around $100 per product or $50 million in revenue. Next day they go to pay their electricity bill and employees but suddenly their BTC is worth $30 million. You think you can pay for electricity and water with buttcoin like that?
Also lol @ thinking if it ever becomes a danger to the government, they won't regulate the chit out of it.
Just because people use it to buy and sell things doesn't make it a currency that's going to be widely adapted. No big business is going to play with this type of volatility. Imagine a wholesale manufacturing business selling 500k pieces of product per month and they accept 700BTC as payment which is around $100 per product or $50 million in revenue. Next day they go to pay their electricity bill and employees but suddenly their BTC is worth $30 million. You think you can pay for electricity and water with buttcoin like that?
Also lol @ thinking if it ever becomes a danger to the government, they won't regulate the chit out of it.
03-06-2024, 08:01 PM
#114
Originally Posted By kusok⏩
but when you say "debasing" it's obviously relative to something
I don’t think it needs to be used as currency to be a store of value. Gold is not a currency, yet people use it to protect themselves against inflation, real estate is not a currency, but people buy that also, antiques are not currency, but people buy those since their price goes up 10-15% per year, to hedge against inflation.
you're saying bitcoin goes up as the value of fiat goes down
i would think the implication would be bitcoin would usurp fiat for use as currency
i dont think the paradigm is just bitcoins value goes up forever while fiat continually gets worthless, no?
i know you can send .000001 bitcoin but as others have said the limited supply has a lot of constraints. you know.. i know there are clever ways to cover it up but seems weird that we'd rely on a currency with billions of people with only 21 million pieces and or paying in .0000001 bitcoin for milk
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03-06-2024, 08:10 PM
#115
Originally Posted By Schnitzl⏩
I’ve been in crypto for 5 years since 2019 and I have no idea what it is or what it does not do I care
You can gamble with crypto but also at the same time admit to yourself you have very little idea what it is or what it does or how it works on a deeper level. It's just funny when people start defending it with all their might but deep down they don't know anything about it.
Just because people use it to buy and sell things doesn't make it a currency that's going to be widely adapted. No big business is going to play with this type of volatility. Imagine a wholesale manufacturing business selling 500k pieces of product per month and they accept 700BTC as payment which is around $100 per product or $50 million in revenue. Next day they go to pay their electricity bill and employees but suddenly their BTC is worth $30 million. You think you can pay for electricity and water with buttcoin like that?
Also lol @ thinking if it ever becomes a danger to the government, they won't regulate the chit out of it.
Just because people use it to buy and sell things doesn't make it a currency that's going to be widely adapted. No big business is going to play with this type of volatility. Imagine a wholesale manufacturing business selling 500k pieces of product per month and they accept 700BTC as payment which is around $100 per product or $50 million in revenue. Next day they go to pay their electricity bill and employees but suddenly their BTC is worth $30 million. You think you can pay for electricity and water with buttcoin like that?
Also lol @ thinking if it ever becomes a danger to the government, they won't regulate the chit out of it.
Number go up people buy is all I care about. At the end of the day price goes up and noicoiners are still seething
03-06-2024, 08:13 PM
#116
Originally Posted By gesten⏩
So you’re a millionaire?
I’ve been in crypto for 5 years since 2019 and I have no idea what it is or what it does not do I care
Number go up people buy is all I care about. At the end of the day price goes up and noicoiners are still seething
Number go up people buy is all I care about. At the end of the day price goes up and noicoiners are still seething
One party system; Most Republicans are Democrats, but no Democrats are Republicans.
Hayek and Mises were right; they're all socialists.
"To Call something fair or unfair is a subjective value judgment and not liable to any verification" Ludwig Von Mises
03-06-2024, 08:25 PM
#117
Originally Posted By Kraken⏩
He literally admits he's a dupe to the ponzi. Like 99% of people who buy BTC.
So you’re a millionaire?
1.Pump price up
2.Sell to the sucker who wants to buy BTC at a ridiculous price
3.Profit
The exact definition of a Ponzi. He knows nothing about BTC or anythina bout it, just knows the price goes up.
-germ theory is 100% fake
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03-06-2024, 08:45 PM
#118
Fukking lmao @ coincels ITT rent is late bros
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03-06-2024, 09:43 PM
#119
Originally Posted By JoeDelts⏩
The issue with trying to use it as a legitimate currency is it's volatility. Accepting payments for goods and services in crypto is a gamble for both the buyer and seller because it's value could go up or down right after the sale takes place.
It doesn't need to be a currency. It does just fine as a store of value alternative to gold. People hold gold to store their value. But if you want to transfer some of that value, it's not easy to chip off a piece of gold and send it to someone anywhere in the world.
It is easy to take a fraction or whatever amount of crypto and transfer it anywhere in the world any day of the week at any time without needing a bank to do so. Thats the only use case it needs. Hold value, easy to transfer. If it becomes a currency one day fine, but it doesn't even need to.
Also when it comes to volatility, i know western nations are used to low volatility, but many poor nations have "currency" with worse volatility than bitcoin, and bitcoin volatility will keep reducing with a higher % of the population partaking in controlling a portion.
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03-06-2024, 09:50 PM
#120
Originally Posted By Contribution05⏩
Store of value. Goes from 70k to 10k in one summer. Great store of value….backed by nothing but codes on a computer LOL.
It doesn't need to be a currency. It does just fine as a store of value alternative to gold. People hold gold to store their value. But if you want to transfer some of that value, it's not easy to chip off a piece of gold and send it to someone anywhere in the world.
It is easy to take a fraction or whatever amount of crypto and transfer it anywhere in the world any day of the week at any time without needing a bank to do so. Thats the only use case it needs. Hold value, easy to transfer. If it becomes a currency one day fine, but it doesn't even need to.
Also when it comes to volatility, i know western nations are used to low volatility, but many poor nations have "currency" with worse volatility than bitcoin, and bitcoin volatility will keep reducing with a higher % of the population partaking in controlling a portion.
It is easy to take a fraction or whatever amount of crypto and transfer it anywhere in the world any day of the week at any time without needing a bank to do so. Thats the only use case it needs. Hold value, easy to transfer. If it becomes a currency one day fine, but it doesn't even need to.
Also when it comes to volatility, i know western nations are used to low volatility, but many poor nations have "currency" with worse volatility than bitcoin, and bitcoin volatility will keep reducing with a higher % of the population partaking in controlling a portion.
-germ theory is 100% fake
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