Exactly.
Cryptocurrencies
- Thread starter biometrics
- Start date
Exactly.
My son reminded us at the weekend that he asked us if he could buy one Bitcoin in 2008 for R8. We said don't be silly
Thinking about it, we should have supported him. I guess we never understood the concept.
biometrics
Well-Known Member
- Joined
- Oct 17, 2019
- Messages
- 20,369
Might not technically be a ponzi, but still the worlds most successful scam. It won't last.
If people are trying to make a quick buck and play the market, they’re probably going to lose. But as I’ve said before, I’ve spent a small amount and I’ve had my money’s worth in entertainment. If I lose the lot, that’s life.
As it is, right now I could cash out my initial spend of $206 for $998, but I’m in no hurry. To me the $206 is already lost, spent the same way as a long weekend at the beach or a family meal.
Where’s the scam?
Withdraw $206
Win
biometrics
Well-Known Member
- Joined
- Oct 17, 2019
- Messages
- 20,369
When it crashes as it will, there's your scam. Magic money must be paid by someone. If you cash out, someone else paid you. So you need more suckers to "invest".
It's a scam dude. Give it a rest.
biometrics
Well-Known Member
- Joined
- Oct 17, 2019
- Messages
- 20,369
And someone else lost.
Unlucky for them. We are talking about adults here.
Give it a rest? What else would I discuss in the cryptocurrency thread? I think you’ll find only one of us is in the wrong place
biometrics
Well-Known Member
- Joined
- Oct 17, 2019
- Messages
- 20,369
Do adults respond like this if you're not into crypto? This is from a colleague.
"Have fun staying poor ..."
tulips are still grown and traded, hype fiascos don't indicate that the commodity asset is worthless
biometrics
Well-Known Member
- Joined
- Oct 17, 2019
- Messages
- 20,369
I hate crypto with a passion, so I'm in the right place.Give it a rest? What else would I discuss in the cryptocurrency thread? I think you’ll find only one of us is in the wrong place
I think it's a scam. You don't. You know what they say about opinions.
biometrics
Well-Known Member
- Joined
- Oct 17, 2019
- Messages
- 20,369
Tulips actually are useful for something. Also the criminal underground don't use tulips to pay each other. Dark web, ransomware... all require BTC. And don't get me started on the fact that it is a huge global polluter and contributor to global warming.
if some underworld boss started accepting tulips their price would rocket. In fact it doesn't even take that, simply a situation in which you can deploy their use to a group of people to achieve hidden ends as currency - certain works of art, precious stones etc ... all go through stages where this occurs.
Any given cryptoasset can enjoy ephemeral currency value because a group of people are happy to accept it for the purposes of trade, because a group of people accept it for the the purposes of trade it gets used as a store of value
My strong suspicion is that bitcoin itself will past the volatility and on the long horizon remain this token oddity that retains tradable value in a very stupid way. Kind of like certain insanely expensive goats and horses which are part of some obscure breeding fansy that certain rich people have. You have similar environment with fancy wine and a lot of art related goods.
The reality though is that right now there is trading to be done on the hype cycles of the asset - day trading and taking risk and so on. I don't think its a particularly useful way to use intellectual energy but the arbitrage that occurs because of market psychology plays out in so many areas - just know that you are playing a risk related game and at the end of the day there is no greatest fool banking on bitcoin.
Other crypto assets will have various different paths and the use of blockchain in ensuring asset transparency is definitely here to stay.
Any given cryptoasset can enjoy ephemeral currency value because a group of people are happy to accept it for the purposes of trade, because a group of people accept it for the the purposes of trade it gets used as a store of value
My strong suspicion is that bitcoin itself will past the volatility and on the long horizon remain this token oddity that retains tradable value in a very stupid way. Kind of like certain insanely expensive goats and horses which are part of some obscure breeding fansy that certain rich people have. You have similar environment with fancy wine and a lot of art related goods.
The reality though is that right now there is trading to be done on the hype cycles of the asset - day trading and taking risk and so on. I don't think its a particularly useful way to use intellectual energy but the arbitrage that occurs because of market psychology plays out in so many areas - just know that you are playing a risk related game and at the end of the day there is no greatest fool banking on bitcoin.
Other crypto assets will have various different paths and the use of blockchain in ensuring asset transparency is definitely here to stay.
I hate Celtic, but don't see much value in going to their forums and telling them. But whatever floats your boat mate. Not going to fall out with you about it
SoldierMan
Active Member
- Joined
- Jul 18, 2020
- Messages
- 460
So you're a good ol' gold and silver man then? You want hard assets?
Don't tell me you own fiat, like the Dollar house of cards?
Look I've never bought into the Bitcoin craze even though I respect the opinions of people like Max Keiser and Stacy Herbert, but if there is money to be made, then I'm up for it. Max got in at $0.50 and made millionaires out of the people that listened to him when he punted it on his show at $1.00.
Now that Paul Tudor Jones, Michael Saylor, Black Rock and now Musk have positions in Bitcoin I don't see the price going down. Governments could still put the kibosh on it I guess, so you got to know when to get out.
biometrics
Well-Known Member
- Joined
- Oct 17, 2019
- Messages
- 20,369
No problem, this is a free and open forum. You're entitled to be wrong as much as you like.I hate Celtic, but don't see much value in going to their forums and telling them. But whatever floats your boat mate. Not going to fall out with you about it
$1.5 billion Musk has reportedly invested in Bitcoin. Hence the latest little jump.
Here's hoping he loses the lot.