Cryptocurrency (11 Viewers)

[pavelnel]

Just because somebody expects price to rise doesn't mean it's hype. Same can be said about any stock or player on the market.

Oh and please, don't preach about fiat money that's being printed like a worthless piece of paper based on thin air.

Controlled inflation is an absolute necessity for a healthy economic activity. Uncontrolled inflation is mostly in the past for any major economy.
Deflation on the other hand is absolutely bad for economic activity.
At this stage, fusion power is closer to becoming a reality than finding a useful application for blockchain on a global scale.

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Buy on AliExpress.com

[swag]

The cryptosexuals are a demented bunch so you can't rationalise they behaviour. The crypto fantasy will grow more before the inevitable implosion.
We need at least 21 000 "unique" and with "limited" supply crypto "currencies" . The now existing more than 7000 Bitcoin forks are just not enough to devour the money of the hundreds of millions morons with IQ of 70 and lower. LOL.

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Nice.

You think whole cryptocurrency is based on hype and we'll just have to disagree because our views are here entirely different.

Well, with stawks the underlying asset roughly follows value growth in a business. With crypto, it's deliberately capped as a closed system... like closed-end fund. That's not its bug: that's its feature.

Sure, that helps cover it from some central bank inflation abuses in theory. But the only way you build more value in the system is through the mechanics of what's commonly known as a pyramid scheme: someone has to pay out for the same asset more than you put into it to buy it. The underlying asset is fixed.

So no, it's not an investment per se anymore than buying rocks is an investment.

It's built on internet lore, which can easily be infiltrated and hijacked. Also what good is it if you pay taxes on it and it can be traced (you only allowed to trade after providing tax id). I think the crypto idea at first was good, internet was also a much freer environment back then. Right now i think it's just a way for betas to stick it to the system, except this will only make them money if it gets hijacked by the system, case in point doge.

And A touches on the thing here. In the early days of the innocent Internet, people believed that you could empower the individual and flip the middle finger to powerful forces who controlled communication channel access: the media, publications, global message reach. The Internet was going to be an egalitarian wonderland that subverted the old power structure. Well guess what?

Facebook proved: meet the new boss, same as the old boss. Yes, the voices are out there, but money and influence have clearly found a way to keep up and tilt the tables heavily in their favor.

Similarly with the cult zombies who see crypto as societal salvation. They seem to think they can escape society and its governments, its command of physical assets, its inequalities where the rich get richer and the little guy gets screwed out. With institutional investors stepping in, they are either going to hijack the system and bend it to their favor ... or try to sabotage it from within altogether.

But it is cute when people think they can "stick it to the man" with their glorious collection of bits.

 

[Bjerknes]

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800,000 crypto accounts were liquidated yesterday.

 

[Bjerknes]

 

[GordoDeCentral]

Bye crypto

 

[Enron]

Hold the line.

 

[Siamak]

The best strategy for trading Bitcoin is to trade with an expert who understands the market as his own profession and gets maximum profits.

 

[AFL_ITALIA]

You think whole cryptocurrency is based on hype and we'll just have to disagree because our views are here entirely different.

I'm not trying to attack you or your views, or convince you otherwise. I just don't know what you're seeing here, but I'd be interested to read it if you'd want to explain.

 

[swag]

We're gonna see this play out similarly with all of the retards celebrating that they're gonna "stick it to the man" with remote work. People think they have leverage over their employers now. When in fact, by going fully remote they are putting themselves in direct competition with the global labor market ... where some hungry guy in Malaysia is willing to do your job for a tenth of the price and no job protections.

No CFO is gonna keep their jobs paying bloated Western salaries for the same work.

 

[campionesidd]

It's built on internet lore, which can easily be infiltrated and hijacked. Also what good is it if you pay taxes on it and it can be traced (you only allowed to trade after providing tax id). I think the crypto idea at first was good, internet was also a much freer environment back then. Right now i think it's just a way for betas to stick it to the system, except this will only make them money if it gets hijacked by the system, case in point doge.

Its biggest advantage is that it is decentralized, or so it’s supporters say. By that good is that decentralization if a megalomaniac with a Twitter account can torch 100s of billions in a single afternoon?

 

[.zero]

ETH just dropped below $2k

time to go on a buying run across the board

 

[Enron]

Time to grab the tiger by his toe

 

[Siamak]

all that matters is the long term.

 

[Ronn]

Iran has seen a 26% increase in electricity consumption in industrial sector while the economy is crashing under US sanctions and the pandemic. This resulted in rolling blackouts even before the summer.

 

[Siamak]

Iran has seen a 26% increase in electricity consumption in industrial sector while the economy is crashing under US sanctions and the pandemic. This resulted in rolling blackouts even before the summer.

i can feel it and everyday elecric are flicking like crazy at my house iran

 

[Bjerknes]

The best strategy for trading Bitcoin is to trade with an expert who understands the market as his own profession and gets maximum profits.

Just use the RSI and MACD bro. That's all you need to do and your account will be a million in no time.

 

[Siamak]

imagine trading and stocking up Bitcoin from now till then. buy Bitcoin when it drops and sell on a peak.

 

[swag]

i can feel it and everyday elecric are flicking like crazy at my house iran

So Iran is mining like mad now, you're suggesting?

imagine trading and stocking up Bitcoin from now till then. buy Bitcoin when it drops and sell on a peak.

The whole crypto vibe now is kind of curious to me. I've read some analysis suggesting that a lot of (mostly younger) people who feel locked out of stawks expertise and access -- despite the massive proliferation of the likes of Robinhood -- gravitating towards things like crypto and luxury fashion collectibles because it's the only capital accumulation they believe they can understand.

I have no doubt in crypto having some value. But there's still so much lost in the classic currency exchange arbitrage (and yet people aren't yet paid in crypto, buying with crypto, and investing with crypto other than HODLing as a growth strategy). Sometimes it also strikes me as the stock market rush of the early dotcom era, where people shoved money into Amazon and Pets.com not knowing where the value might ultimately be in ten years.

 

[Siamak]

The whole crypto vibe now is kind of curious to me. I've read some analysis suggesting that a lot of (mostly younger) people who feel locked out of stawks expertise and access -- despite the massive proliferation of the likes of Robinhood -- gravitating towards things like crypto and luxury fashion collectibles because it's the only capital accumulation they believe they can understand.

I have no doubt in crypto having some value. But there's still so much lost in the classic currency exchange arbitrage (and yet people aren't yet paid in crypto, buying with crypto, and investing with crypto other than HODLing as a growth strategy). Sometimes it also strikes me as the stock market rush of the early dotcom era, where people shoved money into Amazon and Pets.com not knowing where the value might ultimately be in ten years.

Bitcoin and cryptocurrency have been making millionaires, although people are still having losses due to lack of experience, that is why it is advisable to allow a professional handle your trade.
it even ultimately becoming reserve currency for banks, playing much same role as Gold did in the early years of banking. Banks could issue digital cash with greater anonymity, lighter weight and more efficient transactions

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The whole crypto vibe now is kind of curious to me. I've read some analysis suggesting that a lot of (mostly younger) people who feel locked out of stawks expertise and access -- despite the massive proliferation of the likes of Robinhood -- gravitating towards things like crypto and luxury fashion collectibles because it's the only capital accumulation they believe they can understand.

I have no doubt in crypto having some value. But there's still so much lost in the classic currency exchange arbitrage (and yet people aren't yet paid in crypto, buying with crypto, and investing with crypto other than HODLing as a growth strategy). Sometimes it also strikes me as the stock market rush of the early dotcom era, where people shoved money into Amazon and Pets.com not knowing where the value might ultimately be in ten years.

all that matters is the long term. ive been in this market so long it really doesnt matter what it does. it eventually goes back up and you can always make money in it no matter what.

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So Iran is mining like mad now, you're suggesting?

That's not a reasonable excuse for a power outage. Someone not being honest.

 

[swag]

Bitcoin and cryptocurrency have been making millionaires, although people are still having losses due to lack of experience, that is why it is advisable to allow a professional handle your trade.

Pets.com stock made people millionaires. It also bankrupted people. It depends a lot on timing.

it even ultimately becoming reserve currency for banks, playing much same role as Gold did in the early years of banking. Banks could issue digital cash with greater anonymity, lighter weight and more efficient transactions

All true. But one of the things that makes me skeptical is that there's always this idealistic assumption of an abundant future free of the darker forces of capitalist abusers at scale. We saw it with the utopian ideals of social media and how it was going to build one global community of love and connection (e.g., Facebook, government use of social media for propaganda, etc.). We saw it with the sharing economy (then Airbnb gentrified neighborhoods and gutted the ability for locals to live there, Uber made people set fire to cars in Paris, etc.).

What makes anyone think crypto is going to be different? That big central banks, financial bullies in the world, etc., won't find a way to game the system in their favor given all their resources? Some now suggest that the influx of institutional money into crypto is either signs of a cynical takeover attempt or an attempt to destroy its threats to their main businesses from within.

all that matters is the long term. ive been in this market so long it really doesnt matter what it does. it eventually goes back up and you can always make money in it no matter what.

That's what people said about housing prices in 2007, btw. So people took out interest-only loans and started collecting houses in the belief that they will get fat rich on the ever-increasing values of homes.

Not saying you're wrong. Just saying we have lots of examples that turned out differently.