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Started By
Message
re: Crypto is Gen Z’s Beanie Babies
Posted on 6/15/22 at 9:06 pm to GreatLakesTiger24
Posted on 6/15/22 at 9:06 pm to GreatLakesTiger24
quote:
it's a bit strange that so many people are taking so much joy in this
An old man on a horse celebrating a flat tire comes to mind when seeing the crypto and EV comments
0
Posted on 6/15/22 at 9:09 pm to The Torch
quote:
At least you can put your hands on a Beanie Baby
No one has ever touched a bit coin
If you don't use cash and go into a store to buy something and use your card or phone to make the purchase, is it not legit since you never touched money?
In 1986 your argument would have made more scene.
When I purchase something on Amazon, I go to the app, put it in my card, check purchase and in a few days its at my house. I don't communicate with anyone, I don't exchange anything, it just comes out of my account.. Which by the way, your bank account is just numbers. If you long into your account and your balance is $9,503.45 are you about to touch that much money? Nope.. So beanie babies must be worth more.
Posted on 6/15/22 at 9:13 pm to Jon Ham
quote:
I couldn’t tell you at what exact price people will be willing to buy/sell a certain stock a week from now would be. What financial analysts can do is look at a company’s assets, liabilities, and potential for growth, then discount future projected cash flows to current value to arrive at an educated calculation of its current value. There are some projections involved in that analysis, so different analysts can come to different conclusions.
you do realize that all of those metrics are just designed to give you the best idea OF WHAT SOMEONE WOULD BE WILLING TO PAY FOR IT there are equivalent metrics within crypto. product market fit, network size/growth, etc..
This post was edited on 6/15/22 at 9:21 pm
Posted on 6/15/22 at 9:34 pm to deNYEd
You forgot crypto doesn't have a product. It's like gravity to a flat eather, fake. No explanation about what's fake, it's just fake.
Posted on 6/15/22 at 10:18 pm to Jon Ham
Remember--the Romans paid Judas 30 pieces of Bitcoin...
Posted on 6/16/22 at 7:18 am to tenderfoot tigah
quote:
Why are stocks crashing?
Stocks have a long history of adjustment. Some stocks are very volatile. Generally these stocks have less intrinsic value. Some have no earnings. Some were total bs like the dotcom stocks early on.
Stocks are meant to be traded too.
As such, they’re subject to market irrationality. They get too expensive and then they adjust. I can measure that. I buy stocks with reasonable valuations. I know how to value stocks vs the market price. You can’t do that with crypto currency. Stocks get undervalued too. I can measure that and make money off of the markets irrationality.
Guessing you see bitcoin as undervalued now? How do you know?
So Why do you compare crypto -CURRENCY to stocks?
Is it because the crypto volatility bothers you so you try to soothe that concern by comparing it to stocks to make it seem more normal?
Well don’t get too comfortable in that. Currency is not stock. It ought not be so volatile. Stocks are not currency. Currency ought not be so volatile lest they be something wrong.
This post was edited on 6/16/22 at 8:01 am
Posted on 6/16/22 at 8:33 am to SlidellCajun
quote:
Guessing you see bitcoin as undervalued now? How do you know?
Great question.
Posted on 6/16/22 at 9:12 am to SlidellCajun
Crypto"currency" is a bit of a misnomer. There are some that can be currencies, but in general they are much more akin to stocks.
Ether, in particular, even acts more like an index fund of all of the applications and protocols built on top of it. The majority of cryptocurrencies are built on top of Ethereum. As projects build and get more popular, block space demand increases on Ethereum, and as demand for block space increases, so does price of Ether. This is especially true since EIP-1559, when they began burning a portion of gas fees. In addition, it's like an index fund that provides a return; right now, if you stake Ether, you get ~4-5% APR. Once the Ethereum merge happens, I expect that % to increase to 6% - 12%, depending on market conditions.
Ether, in particular, even acts more like an index fund of all of the applications and protocols built on top of it. The majority of cryptocurrencies are built on top of Ethereum. As projects build and get more popular, block space demand increases on Ethereum, and as demand for block space increases, so does price of Ether. This is especially true since EIP-1559, when they began burning a portion of gas fees. In addition, it's like an index fund that provides a return; right now, if you stake Ether, you get ~4-5% APR. Once the Ethereum merge happens, I expect that % to increase to 6% - 12%, depending on market conditions.
This post was edited on 6/16/22 at 9:15 am
Posted on 6/16/22 at 9:18 am to Hulkklogan
quote:
There are some that can be currencies, but in general they are much more akin to stocks.
Not sure that was ever the intent of crypto currency but it certainly has devolved into less about currency and more about trading for the sake of trading.
The fact that these currencies have faltered at the exact time when they were suppose to shine is telling… and should raise red flags. They were suppose to be hedge against inflation.
Not working out that way.
They’ve become more of a traded item which makes them more susceptible to the whims of a market. In that they’re similar to stocks but that’s where it ends.
So given the risk of investing in stocks or crypto currency- even one like bitcoin- I will take stocks as I can assess their value against the market value and trust the exchanges to settle trades properly. Stocks are also meant to be traded.
Posted on 6/16/22 at 9:24 am to SlidellCajun
The ones that are more akin to currency are stablecoins. Some of them are pegged to and backed by USD directly, like USDC. Collateralized algorithmic stablecoins are backed by a more volatile asset, but have code that adjusts buying/selling/inflating/deflating the token to hold a pegged value. FRAX is an example of one that is pegged to USD, and RAI is an example of one that is not pegged to USD. It's solely collateralized by Ether.
I"m not trying to argue anything here, merely educating.
I"m not trying to argue anything here, merely educating.
This post was edited on 6/16/22 at 9:27 am
Posted on 6/16/22 at 9:25 am to SlidellCajun
quote:Im not sure you know what the frick you are talking about....
Not sure that was ever the intent of crypto currency
Did BTC start as wanting to be a currency, sure... well its infrastructure didnt really adapt, but it is kinda holding as an asset.
How do you not understand that this is in its infancy. you know the internet was meant to be the path to transfer data from one computer to another.... they werent, at the start, planning on a frick tard like you arguing shite on a message board.
This post was edited on 6/16/22 at 9:58 am
Posted on 6/16/22 at 10:09 am to CarRamrod
quote:
m not sure you know what the frick you are talking about.... Did BTC start as wanting to be a currency, sure... well its infrastructure didnt really adapt, but it is kinda holding as an asset. How do you not understand that this is in its infancy. you know the internet was meant to be the path to transfer data from one computer to another.... they werent, at the start, planning on a frick tard like you arguing shite on a message board.
Are you really this tough in real life of just on the internet?
Crypto currency was invented to be used as currency!
Without broader usage as currency, it’s going to be volatile and some, potentially worthless.
You keep your narrow minded focus on the hope and go all in bro.
Your slogan should be
“Be a man- Buy crypto.”
Posted on 6/16/22 at 10:11 am to tenderfoot tigah
quote:
You forgot crypto doesn't have a product.
Tell me you dont know anything about crypto without telling me you dont know anything about crypto.
There are several projects that have real tangible uses for the distributed ledger. Your ignorance does not change that.
This post was edited on 6/16/22 at 10:15 am
Posted on 6/16/22 at 10:30 am to LSUnation78
quote:
Tell me you dont know anything about crypto without telling me you dont know anything about crypto.
There are several projects that have real tangible uses for the distributed ledger. Your ignorance does not change that.
Dude I was joking. Look at my post history.
Check out Slidell's post history. He thinks that the only use for cryptocurrency is spending it at Walmart.
Slidell, if you are required to pay a fee to use the Ethereum network and the only denomination accepted is the Ethereum token, does that make it a currency? And if millions of people are using that network, does that make it valuable?
This post was edited on 6/16/22 at 10:33 am
Posted on 6/16/22 at 10:36 am to Hulkklogan
I can buy stuff with Bitcoin. I can't buy stuff with my shares of Walmart.
Posted on 6/16/22 at 10:40 am to The Third Leg
quote:
shite has marginal utility, at best
I think this is a gross oversimplification. It would certainly apply to plenty of crypto coins, the pump and dump schemes.
But for established blockchains like ETH and BTC it is disingenuous to suggest that they have marginal utility. The utility may be largely untapped, sure, but the potential is massive.
Will the potential ever be realized and will the capabilities the blockchains offer ever be utilized is a legitimate question up for debate. But the functionality it can offer if it were to become more widely accepted is very real.
Posted on 6/16/22 at 11:17 am to SlidellCajun
quote:Should we expect anything different as long as market caps are small enough to be manipulable by a few institutions?
Not sure that was ever the intent of crypto currency but it certainly has devolved into less about currency and more about trading for the sake of trading.
The fact that these currencies have faltered at the exact time when they were suppose to shine is telling… and should raise red flags. They were suppose to be hedge against inflation.
Not working out that way.
They’ve become more of a traded item which makes them more susceptible to the whims of a market. In that they’re similar to stocks but that’s where it ends.
quote:
So given the risk of investing in stocks or crypto currency- even one like bitcoin- I will take stocks as I can assess their value against the market value and trust the exchanges to settle trades properly. Stocks are also meant to be traded.
I believe that in the early days of stock markets, it happened very similarly to crypto. People got excited and saw big opportunities, and there were a lot of fly-by-night's offering shares. I think it got so crazy that London banned it altogether for a while. Centuries later we have well-established rules and procedures to (mostly) prevent that, and even the most speculative of companies that you can buy a share in is still kind of the cream of the crop among all the possibilities in a more wild west of stock trading.
We are doing that all over again with crypto, it's just human nature. There aren't as many rules and regulations, so speculators gonna speculate, and they have access to far more than just the cream of the crop. And this time it's happening in a world where trades happen a billion times faster. I don't know what else we should expect.
This post was edited on 6/16/22 at 11:44 am
Posted on 6/16/22 at 11:19 am to Tigerfan56
Ethereum has mass adoption already. The defi banks are all they have in third world countries. Of course the never crypto guys can't see past their own country.
Then on to Bitcoin, it's used for payments in countries where their currency has crumbled. It was so rampant in Venezuela that their government had to ban Bitcoin activity because it was significantly more desired than their national fiat currency.
Then on to Bitcoin, it's used for payments in countries where their currency has crumbled. It was so rampant in Venezuela that their government had to ban Bitcoin activity because it was significantly more desired than their national fiat currency.
Posted on 6/16/22 at 12:34 pm to Abstract Queso Dip
quote:
I can buy stuff with Bitcoin. I can't buy stuff with my shares of Walmart.
Uhh…
Not even sure if this warrants a reply.
So I won’t
Posted on 6/16/22 at 12:36 pm to tenderfoot tigah
quote:
Check out Slidell's post history. He thinks that the only use for cryptocurrency is spending it at Walmart.
Again
Making up things on the internet is a white flag.
I have never said anything like what you posted
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