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Message
re: Bitcoin hits 100K
Posted on 12/5/24 at 10:38 am to Mingo Was His NameO
Posted on 12/5/24 at 10:38 am to Mingo Was His NameO
quote:
kind of understand where you’re coming from but just change bitcoin to dollar in all your posts and the same question remains. Why is some green dyed cotton paper worth what we say it is? It has no value other than what we assign it.
I’d agree that there is some mystery behind the remarkable stability of the USD. I mean it’s not backed by any amount of anything anymore. There’s probably too much of it in circulation. We have more debt than our GDP. Interest rates are relatively high…. There’s a lot of reasons to question the value of the USD. Nonetheless, it’s maintained its value remarkably.
The USD is accepted currency globally and is an actual reserve currency for some commodities around the world. That means a lot.
Ironically, When someone wants to cash in their bitcoin, it’s often in exchange for the USD. I say “ironically” because One of the fundamental principles behind bitcoins relevance was the fragility of the USD.
In my life, when I buy something, it’s with the USD. How about you?
This post was edited on 12/5/24 at 10:40 am
0
Posted on 12/5/24 at 10:42 am to DVinBR
quote:
stop looking at it is as a currency, it's actually not, regardless of being called a "cryptocurrency"
Really? So no one uses it as a currency?
Are you certain of your statement or is this just an opinion.
If not then What is it ?
Fwiw- the website bitcoin.org says in its opening line that
“Bitcoin is the first decentralized digital currency”
This post was edited on 12/5/24 at 11:03 am
Posted on 12/5/24 at 11:05 am to SlidellCajun
quote:
So instead of insults which only make you look defensive, give some info.
You interpreting facts as insults makes you definitely defensive.
quote:
How would I go about estimating bitcoins intrinsic value?
The same way you go about estimating the intrinsic value of a piece of gold or a sheet of paper with green ink on it.
There’s a reason Costco can sell $500 gift cards for $429.99, or 2 different vendors can sell identical pieces of equipment for different prices. What do you think that is, exactly?
quote:
Or better and maybe easier for you, what do you think is a fair market value ?
Of what? Actually it doesn’t even matter what it is. The answer is whatever the market determines it is, for anything. Whether or not I’m willing to buy it has no bearing on its “fairness”.
quote:
And how do you know if I’m not intelligent enough to understand?
Because this isn’t the only thread you’ve posted in.
Posted on 12/5/24 at 11:07 am to Mtwabp
Does hawk tuah girl know?
Posted on 12/5/24 at 11:18 am to DVinBR
quote:
stop looking at it is as a currency, it's actually not
it actually is though
Posted on 12/5/24 at 11:39 am to monsterballads
quote:
actually is though
Actually it's not.
It's a commodity that is traded/bartered in exchange for something else.
Posted on 12/5/24 at 11:47 am to SlidellCajun
quote:
How would anyone know what amount of the value is market value and what is intrinsic value?
How would anyone not holding in cash an equal amount they've invested so that if the whole thing tanks (which it will not, sorry Democrats), they'd be not losing anything.
Why are leftist such fricking financial idiots?
Well, they're idiots because they're leftists. And that makes them more and more angry.
Posted on 12/5/24 at 11:55 am to Harry Rex Vonner
Slidell, let me be the first to tell you Bitcoin will one day be considered cheap at $1m per token.
Posted on 12/5/24 at 12:08 pm to tenderfoot tigah
Can I buy some Tigercoin ?
Posted on 12/5/24 at 12:29 pm to monsterballads
quote:
it actually is though
lol
Shhhhhhh
Don’t tell them. Let them believe the dream
Posted on 12/5/24 at 12:31 pm to Mtwabp
quote:
The same way you go about estimating the intrinsic value of a piece of gold or a sheet of paper with green ink on it.
So you equate bitcoin with gold or the USD?
I don’t know the intrinsic value of gold but I know it has a lot of usefulness.
And USD is accepted currency worldwide as well as a reserve currency for some commodities. Other than that, I don’t know how to assess its intrinsic value.
Clearly you don’t either for it or bitcoin.
So you have no idea jf the market value of bitcoin is fair or not. Are you holding, buying or selling?
This post was edited on 12/5/24 at 12:34 pm
Posted on 12/5/24 at 12:33 pm to SlidellCajun
quote:
So you equate bitcoin with gold or the USD?
I equate everything with gold or the USD. It only has the value we give it. Gold is just a rock
Posted on 12/5/24 at 12:34 pm to Mingo Was His NameO
quote:
Mingo
Give me a call brother (225) 472-1100
Posted on 12/5/24 at 12:38 pm to monsterballads
quote:
broke, russian and darth look like major idiots in those bitcoin/wiki threads.
Isnt that true in most threads though?
Posted on 12/5/24 at 12:38 pm to Mingo Was His NameO
quote:
Gold is just a rock
A rock that has a lot of usefulness.
Whether or not the market has a fair value for it, I don’t know but I know it has some value.
I’ve used gold to buy things. Never done that with bitcoin. Have you?
Posted on 12/5/24 at 12:39 pm to SlidellCajun
quote:
A rock that has a lot of usefulness.
Based on what?
quote:
I’ve used gold to buy things.
I’ve never used gold to buy anything
Posted on 12/5/24 at 12:59 pm to SlidellCajun
Not today Fed boy. Not today.
Posted on 12/5/24 at 1:17 pm to Mingo Was His NameO
quote:
A rock that has a lot of usefulness. Based on what? quote: I’ve used gold to buy things. I’ve never used gold to buy anything
I’m no gold but but off the top of my head-
Gold has uses in medicine, jewelry, electronics, and as a currency. Heck, trump has a gold toilet.
I used to own some gold coins back in 2000 when people were getting nervous about end times and the y2k stuff but I traded them out after Katrina for some work done on my house.
Gold has a perceived limited supply too which adds to its appeal. I really don’t know if what the supply is.
So have you ever used bitcoin to buy anything?
Posted on 12/5/24 at 1:23 pm to Mtwabp
quote:
You interpreting facts as insults makes you definitely defensive.
What am I being defensive about?
You’re the one that tried to insult me by saying I wasn’t intelligent enough to understand…. lol.
So funny- you sit on a sports message board and hurl insults to people as though that’s some sort of achievement…. Does it make you feel smarter?
Posted on 12/5/24 at 1:25 pm to The Boat
This post was edited on 12/5/24 at 9:26 pm
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