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Posted on 6/15/22 at 1:08 pm to Jon Ham
quote:
Oh shite, seriously?! Why didn’t you tell me that?!
brb going to go buy all the Ether I can now.
I'll break it down further since your sarcasm shows you still don't understand what that means. You cannot download a single App on your Iphone without Apple's currency. In this case, Ethereum is the currency. Take into account the billions of people without access to what we consider traditional financial products and you can see where the network is extremely valuable.
To take it a step further, with every single transaction, Ethereum burns a portion of each transaction so you now have a deflationary currency.
You didn't know this stuff before because it is confusing. We understand because we have been where you are. The vast majority of crypto investors are well diversified with real estate, stocks, etc.
Posted on 6/15/22 at 1:09 pm to cable
quote:
It's the reason that those of us that lived through the dot com bubble won't buy it.
Posted on 6/15/22 at 1:10 pm to cable
quote:this is cable...
the youngins' don't teach the old timers
Posted on 6/15/22 at 1:23 pm to CocomoLSU
quote:
quote:
the NFT sham
shite is hilarious.
I'm not saying some people couldn't make some real money in the short term, but man anybody who couldn't see the faultiness in that shite was destined to lose money. It was one of those "you're good as long as you aren't the last one holding it" kind of things, right?
The MSB was 1000% in on it for some reason. I would just read the threads and laugh my arse off at multiple posters rushing to shout down anyone who would not only dissent, but just ask for some common sense explanation of why an NFT held any value.
Posted on 6/15/22 at 1:34 pm to deNYEd
quote:
always amusing that you fricktards come out at the height of every bear. This time the flex is even weirder considering the entire world economy is flat-lining.
Isn't one of the core tenets of crypto is that it's impervious to market fluctuations?
Something doesn't add up.
Posted on 6/15/22 at 1:39 pm to Jon Ham
Two reasons why I stayed away
1. Nobody knows who is in control
2. The federal govt was always going to get involved.
1. Nobody knows who is in control
2. The federal govt was always going to get involved.
Posted on 6/15/22 at 1:44 pm to IAmNERD
quote:
Isn't one of the core tenets of crypto is that it's impervious to market fluctuations?
Who in the actual frick said that? It's censorship resistance is it's biggest quality, which everyone should understand the importance of considering that last couple years of our life. Everyone in crypto knows it it is wildly volatile. How often is an entirely new asset class invented? Crypto will likely become decorrelated to market at some point but we are still in infancy of adoption. I don't even know why we are having conversations about the merits of crypto anymore when we have worlds largest organizations and governments now investing billions in it's future infrastructure.
Posted on 6/15/22 at 1:45 pm to cable
quote:
The people who have pitched crypto to me have ranged in age from 13 - 26
quote:
none of these people have ever had a real job and can't even really take care of themselves
Consider this my formal pitch to you to own some crypto. There, now you can no longer claim the above is true. I'm a late 30's dad of two that runs a decently sized business. I used to be pretty dubious of the crytpo world, but then I did some of my own research and actually found a lot of stuff to like.
Is the majority of the crypto arena a cesspool? Yes. That said, I think there are a few projects that are worth at least a little bit of your investment money. All in? Hell no. Max out your traditional stuff first. After that, go gamble and learn about the tech along the way. High risk/high reward.
Posted on 6/15/22 at 1:49 pm to deNYEd
quote:
Who in the actual frick said that?
quote:
Bitcoin was supposed to be impervious to macroeconomic forces. That hasn’t proven the case either, with crypto traders reacting to soaring inflation numbers and traditional metrics such as the Bureau of Labor Statistics’ monthly jobs report.
Institutional investor.com
Please don't act like that wasn't one of the main benefits being pumped by crypto people many years ago. Because it was. Yes it is a volatile market, but it wasn't supposed to be tied to traditional markets in any way. That was a giant selling point. Hence the "decentralized" selling point.
This post was edited on 6/15/22 at 1:53 pm
Posted on 6/15/22 at 1:52 pm to IAmNERD
quote:
Isn't one of the core tenets of crypto is that it's impervious to market fluctuations?
Are you talking about crypto as an investment vehicle or as a tech/currency?
Investment: subject to market forces
Tech/Currency: very insulated from market forces
Posted on 6/15/22 at 1:54 pm to Jon Ham
Have you seen the stock market lately? Do you consider that similar to beanie babies just because its been going down?
Were you able to use beanie babies as currency?
6 days ago.
Why 75% of retailers will accept crypto in 2 years.
So you might want to hold off and pointing out what you said this.
Were you able to use beanie babies as currency?
6 days ago.
Why 75% of retailers will accept crypto in 2 years.
So you might want to hold off and pointing out what you said this.
Posted on 6/15/22 at 2:00 pm to IAmNERD
First of all that is an insanely dramatic overgeneralization. The narrative existed it being an inflation hedge but impervious to market fluctuations such as this is just asinine and 2nd of all the entire world economy is crashing. Can you please show us the beacon on the hill?
This post was edited on 6/15/22 at 2:02 pm
Posted on 6/15/22 at 2:01 pm to deNYEd
I wouldn't be surprised if this this am orchestrated crash. Watch Pelosi start buying up BTC and you'll know all you need to know
Posted on 6/15/22 at 2:05 pm to cable
quote:
You're getting taught a lesson here - the youngins' don't teach the old timers
Im sorry what lesson would that be? You realize nobody has lost (or gained) any money until they actually cash out right? This entire thread has boiled down to "something that I don't own and don't care about used to be highly priced but now it's low priced!!! lmaooo" so what specivically is the lesson? Because with you being an "old timer" I'm sure that if you've checked your 401k or index funds or whatever other investment vehicles you own, I'm preeeeeeeeeetty sure the same sentiment would apply.
Posted on 6/15/22 at 2:13 pm to OweO
To the two who downvoted me, if you did it just because its me then this isn't for you.
If you downvoted me because you disagree with my post then you should know you are a moron.
If I have a $10 bill. What makes that bill worth $10? I go into a store and buy something for $8, I have them a $10, they give me $2 back.
If that store didn't accept the $10 then at that time the $10 is worth nothing.
If retail stores start accepting crypto and I go somewhere and buy $8 of something and that store agrees to take $8 worth of certain crypto then what's the difference between the dollar bill and crypto?
And unlike cash, you can't have counterfeit bitcoin or Ethereum.. Buy yeah, its like beanie babies.
If you downvoted me because you disagree with my post then you should know you are a moron.
If I have a $10 bill. What makes that bill worth $10? I go into a store and buy something for $8, I have them a $10, they give me $2 back.
If that store didn't accept the $10 then at that time the $10 is worth nothing.
If retail stores start accepting crypto and I go somewhere and buy $8 of something and that store agrees to take $8 worth of certain crypto then what's the difference between the dollar bill and crypto?
And unlike cash, you can't have counterfeit bitcoin or Ethereum.. Buy yeah, its like beanie babies.
Posted on 6/15/22 at 2:13 pm to TigerTatorTots
quote:
Human phycology. People either dismissed crypto or their brains weren't good enough to understand it so they didn't invest. They saw people making a lot of money and were bummed that they missed out. Now that the market is crumbling their brains are in affirmation mode, giving them joy that they didn't truly miss out on some permanent wealth.
The word you’re looking for is psychology. And the interesting psychology here is the way you just admitted that all the crypto naysayers were right in such a bitter and backhanded way.
Posted on 6/15/22 at 2:14 pm to GreatLakesTiger24
quote:While ignoring how many time over Crypto has increased since they've been saying things like this.
it's a bit strange that so many people are taking so much joy in this
Posted on 6/15/22 at 2:20 pm to shel311
Posted on 6/15/22 at 2:36 pm to deNYEd
quote:
2nd of all the entire world economy is crashing. Can you please show us the beacon on the hill?
Did I say otherwise? Just find the early push for crypto and it's decentralization that uncouples it from world markets to be a fallacy.
Not sure why you're taking it so personal.
I wish I had been an early adopter and had made my mint already. But I'm here getting hammered in the actual markets and crypto markets just like everyone else...
This post was edited on 6/15/22 at 2:38 pm
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