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Old 02-15-2013, 11:41 AM  
ChiefRocka ChiefRocka is offline
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Bitcoin Take?
The natural evolution of money is Bitcoin

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Last edited by ChiefRocka; 11-13-2024 at 06:11 AM..
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Old 05-11-2022, 01:12 PM   #3721
Chief Pagan Chief Pagan is offline
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Quote:
Originally Posted by SithCeNtZ View Post
I mean Bitcoin and crypto in general have no real value. If I gave you all the crypto in the world right now, you couldn't do anything with it except for try and sell it to others. It's a system that is nothing more than buying something in hopes that someone else comes along and pays more for it. It is supposed to be untethered to things like the dollar but as we can clearly see right now it isn't for the reasons you just listed: people have to keep buying at higher levels for it to keep rising since it doesn't do anything else. When people have less and less money to spend they can't keep pumping it into crypto and prices will drop, as we see now. How low will it go? Who knows, but these types of situations are usually just waiting for one big thing to come and wipe everything out and some will make money and some will lose lots of it.
In general I agree with you. There is nothing fundamental holding it up but the hope of a greater fool.

But it's hard to know how long things will last.

A little bit of gold is used in jewelry and electronics. But mostly it has value because people agree it has value. And most of the gold in the world is, if I understand correctly, stored in underground vaults.

[So gold is dug up from underground, at great cost and environmental destruction, just so it can forever be buried under ground in a vault. Yay.]

So I don't think it's much of an exaggeration to say gold is a six thousand year bubble.

So BC could well last a few more years.

Then again, I wouldn't be shocked if it completely collapsed either.
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Old 05-11-2022, 01:38 PM   #3722
loochy loochy is offline
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Old 05-11-2022, 01:54 PM   #3723
Peter Gibbons Peter Gibbons is offline
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Originally Posted by Chief Pagan View Post
In general I agree with you. There is nothing fundamental holding it up but the hope of a greater fool.

But it's hard to know how long things will last.

A little bit of gold is used in jewelry and electronics. But mostly it has value because people agree it has value. And most of the gold in the world is, if I understand correctly, stored in underground vaults.

[So gold is dug up from underground, at great cost and environmental destruction, just so it can forever be buried under ground in a vault. Yay.]

So I don't think it's much of an exaggeration to say gold is a six thousand year bubble.

So BC could well last a few more years.

Then again, I wouldn't be shocked if it completely collapsed either.
Actually, gold has unique properties found in no other metal that make it essential for space travel. So, perhaps the ancients were just early on the market? Or maybe the aliens told them of the value? Either way, it does have intrinsic value due to its unique properties. Money on the other hand is a total faith based asset.
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Old 05-11-2022, 02:04 PM   #3724
Taco John Taco John is offline
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Old 05-11-2022, 06:22 PM   #3725
BigBeauford BigBeauford is offline
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Old 05-11-2022, 09:15 PM   #3726
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Old 05-11-2022, 11:05 PM   #3727
Imon Yourside Imon Yourside is offline
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Old 05-11-2022, 11:14 PM   #3728
Stewie Stewie is offline
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Old 05-12-2022, 04:04 AM   #3729
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Old 05-12-2022, 04:10 AM   #3730
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Old 05-12-2022, 04:17 AM   #3731
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Amp up 35%. Sky is the limit.
How it started.

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Worst investment ever.
How its going.
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Old 05-12-2022, 07:44 AM   #3732
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Old 05-12-2022, 07:47 AM   #3733
ChiefRocka ChiefRocka is offline
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ChiefRocka Forgot to Remove His Claytex and Got Toxic Shock Syndrome.ChiefRocka Forgot to Remove His Claytex and Got Toxic Shock Syndrome.ChiefRocka Forgot to Remove His Claytex and Got Toxic Shock Syndrome.ChiefRocka Forgot to Remove His Claytex and Got Toxic Shock Syndrome.ChiefRocka Forgot to Remove His Claytex and Got Toxic Shock Syndrome.ChiefRocka Forgot to Remove His Claytex and Got Toxic Shock Syndrome.ChiefRocka Forgot to Remove His Claytex and Got Toxic Shock Syndrome.ChiefRocka Forgot to Remove His Claytex and Got Toxic Shock Syndrome.ChiefRocka Forgot to Remove His Claytex and Got Toxic Shock Syndrome.ChiefRocka Forgot to Remove His Claytex and Got Toxic Shock Syndrome.ChiefRocka Forgot to Remove His Claytex and Got Toxic Shock Syndrome.
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Old 05-12-2022, 10:48 AM   #3734
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It looks to me like Tether is in the beginning stages of an attack. That's not to say it's going to crash immediately - they have a lot of resources to keep it afloat. But if Tether collapses, we have to think about what that will mean for the ability to exit cryptos.

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Old 05-12-2022, 10:53 AM   #3735
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