Let's talk about Cryptocurrencies

[zamler]

Originally Posted by jammies

I think what you mean by this, although it is, as usual, almost incomprehensible due to you preferring to post in a stream of consciousness rather than using English as a method of communication, is that you want to bet that Bitcoin will eventually reach $100,000 in value whereas I bet that it will one day go below $100 in value. However, what if it does neither? We just each leave $1,000 with someone indefinitely?

Have not read this entire thread, are you really saying BTC will drop by a factor of 600?

[Winsor_Pilates]

Originally Posted by dino7c

This painting sold for 186M, the world is a funny place...enjoy the ride

This painting of the NFT for this jpeg?

[jammies]

Originally Posted by zamler

Have not read this entire thread, are you really saying BTC will drop by a factor of 600?

No, dino is saying I should bet it will. Don't take his investment advice, is my suggestion.

[Bill Bumface]

We can hit the politics threads to see what happens when people turn running a country or a province into cheering for a sports team, and now we can see the same lunacy here for investments.

What a weird thing to dedicate your time to defending.

[afc wimbledon]

Originally Posted by dino7c

This painting sold for 186M, the world is a funny place...enjoy the ride

Ironically Rothko used such bad paint you cant actually light his paintings to see them or they will fade away to nothing, art isn't a wholly useful analogy for crypto though, almost all art is worth nothing, in fact almost all art is thrown away, an incredibly small number of artists make a living, and out of them an even smaller number are valuable, the whole total of art sales a year is 60 to 70 billion which is a fairly tiny figure really, on top of that art is wildly inconsistent (which is analogous to crypto I guess) artists, whole schools of art become sought after and increase in value while some other artist or style loses almost all their value concurrently, it is a market wholly based on trends as the utility in art isnt as an investment, it's utility is really as a means for rich guys to brag to each other and look smart

[dino7c]

Originally Posted by jammies

No, dino is saying I should bet it will. Don't take his investment advice, is my suggestion.

I already agreed to the avatar bet, it's done

If you constantly resort to personal insults you are probably losing on the facts.

You said BTC was done in 2018, you told us so and bragged about it...we have post history and my position hasn't changed.

YOU said it was dead again a few days ago but will not bet that it will go below $100.00

Here is the bet:
Above 100k I win
$100 or below you win (you said dead I am being nice)
2 years pass it's a push

$1000 bet

It's "dead what are you worried about?

[dino7c]

Originally Posted by Bill Bumface

We can hit the politics threads to see what happens when people turn running a country or a province into cheering for a sports team, and now we can see the same lunacy here for investments.

What a weird thing to dedicate your time to defending.

Lol I am up over half a mil

Don't you think it's odd more odd for people who think it's dead and meaningless to post here every day??

They are dedicating their time to proving me wrong even though they said it was done 40k ago.

[dino7c]

Originally Posted by activeStick

I actually enjoy witnessing the arguments unfold when dino is involved due to how relentless he is and overall willingness to continue. When it comes to the Flames, 8 can't think of a bigger die-hard fan who will go to battle with anyone, any time, on any Flames-related topic and you can bet will have a generally good argument mostly every time!

There is no argument I already won the cup...they are crying about LTIR but I have secured the bag

The beauty of this thread is as time goes on it will just get better and better...even realistic Bitcoin haters know it's a 100k asset at least in the near future.

[dino7c]

Originally Posted by zamler

Have not read this entire thread, are you really saying BTC will drop by a factor of 600?

He read it and participated

Bragged about the end of BTC 5 years back...yet continues to double down. If I could only invest in copium.

Top5 thinks Bitcoin is dead but had to clarify CAD or USD on his million dollar bet lol. Worried about it hitting 1M Canadian, sound like someone who thinks it's dead to you?

[zamler]

600x drop in insane, that's a black swan event on steroids. I can't think of any even remotely sane reason why anyone would think BTC is 600x over valued. That's essentially saying it is worthless.

Only way that happens is if somehow the currency is shut down globally which is impossible.

[afc wimbledon]

Originally Posted by zamler

600x drop in insane, that's a black swan event on steroids. I can't think of any even remotely sane reason why anyone would think BTC is 600x over valued. That's essentially saying it is worthless.

Only way that happens is if somehow the currency is shut down globally which is impossible.

That's the whole point of this conversation, BTC is worthless, it has no utility beyond black market sales, it is good for buying and selling drugs etc, other than it's value is solely predicated on people thinking it has value, well to be more precise it's value is wholly predicated on people thinking it's value will massively increase, it can't even survive stability, it has to increase for people to buy BTC, even the fan boys here are saying 'you should buy BTC because it will be worth a fortune in a year' that's the whole argument at this point, they gussy it up by describing it as a 'digital store of wealth' but what that really means is it doesnt actually have a purpose, a reason for value

BTC could lose pretty much all its value in a year or so it could also double in value depending on how people feel about it, either outcome is just as likely, either outcome requires no more than a sustained period of movement either way and a couple of good or bad news events.

You should think of BTC not as an asset class but as a company, companies go broke and delist all the time, become worthless, declare chapter 11, BTC could just be Crypto Blackberry, started out at 4 bucks a share, went to 200 and now after 25 years is back to 4 bucks

[topfiverecords]

dino raging again? So many posts in a row.

Someone teach him about the purpose of and how to use the multi-quote feature. While you’re at it, help him understand what the ignore list is doing, and what the PM system is for.

[zamler]

Only people that say crypto is worthless are people that haven't made any money on crypto.

[Wormius]

Originally Posted by zamler

Only people that say crypto is worthless are people that haven't made any money on crypto.

I think recognizing you can make money off of something isn’t mutually exclusive with recognizing that something is more gamble than savvy investing.

Some people also made a ton of money on NFTs too, the modern equivalent of fidget spinners. The investment strategy, if any, is knowing they’re worthless and to get in and out before everyone else makes that realization.

[zamler]

Originally Posted by Wormius

I think recognizing you can make money off of something isn’t mutually exclusive with recognizing that something is more gamble than savvy investing.

BTC has been an extremely solid investment. If you are in for a quick buck then you are not an investor you are a gambler. In that case you could have easily lost your shirt.

Some people also made a ton of money on NFTs too, the modern equivalent of fidget spinners. The investment strategy, if any, is knowing they’re worthless and to get in and out before everyone else makes that realization.

Have NTFs proven to be a solid investment strategy long term? BTC has been, when I started mining (2013 I think) BTC was $60.

[dino7c]

Originally Posted by topfiverecords

dino raging again? So many posts in a row.

Someone teach him about the purpose of and how to use the multi-quote feature. While you’re at it, help him understand what the ignore list is doing, and what the PM system is for.

PM system isn't for spamming personal attacks, actually it is a suspendable offence. I want you here though, this thread will continue to age poorly for the Bitcoin is dead crowd and it will be fun to watch you guys grasp at straws.

"Yer dumb" as I lap them

[dino7c]

Originally Posted by zamler

BTC has been an extremely solid investment. If you are in for a quick buck then you are not an investor you are a gambler. In that case you could have easily lost your shirt.

Have NTFs proven to be a solid investment strategy long term? BTC has been, when I started mining (2013 I think) BTC was $60.

Billionaires are currently buying 40k BTC but I am dumb for buying $1100 BTC in 2017 according to these broke ass jelly monsters.

[zamler]

I am up 560x on BTC. Tell me more how I made the wrong choice. The only blunder I made was to stop mining.

Originally Posted by dino7c

Billionaires are currently buying 40k BTC but I am dumb for buying $1100 BTC in 2017 according to these broke ass jelly monsters.

It completely baffles me. What is the actual reason some are dead set against crypto, I have to be missing something.

[dino7c]

Originally Posted by Wormius

I think recognizing you can make money off of something isn’t mutually exclusive with recognizing that something is more gamble than savvy investing.

Some people also made a ton of money on NFTs too, the modern equivalent of fidget spinners. The investment strategy, if any, is knowing they’re worthless and to get in and out before everyone else makes that realization.

It has gone more or less as predicted by the cycle but keep your head in the sand. Dead any day now...some of the biggest investment firms on earth are getting involved but it's totally pogs guy. Just a reminder this thread is 7 years old now, not so e flash in the pan.

[afc wimbledon]

Originally Posted by zamler

Only people that say crypto is worthless are people that haven't made any money on crypto.

No one has said crypto is worthless, it is worth 55 today, it was worth 22 a year ago and 77 a year before that, what everyone is saying (including yourself with your last post) is that it's value is utterly based on how people feel about it, it's value isnt based on anything in particular but the market's perception of its wealth, Microsoft's value has massively increased due to its lead in AI, if Google drops an AI that is massively better than Microsoft's them it's value as a company drops and Google improves.

BTC has none of that, it's value, even events that should increase its value, halfing, ETF's etc are all based solely on the idea that people will value it more, they are all built on the same basic premise, that it will go up in value because it has before, now obviously it might, but if perception of value is all an asset has to give it value then it can also just as easily lose its value if the market decides it isnt going to go up, if it loses value for any length of time it can snowball into a total collapse, the whole thing is predicated on feelings, that makes it vunerable to wholesale loss