Am I stupid? What is the purpose of these tokens? I don’t understand the reason for their existence.
The purpose? where there's a rube with money and a self inflated belief in the inherent instability of fiat currency and their own tech savy inability to be sucked into a con then there's a purpose for a token or an NFT or some other bull#### that the same shysty conmen that invented this whole field can come up with
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The purpose? where there's a rube with money and a self inflated belief in the inherent instability of fiat currency and their own tech savy inability to be sucked into a con then there's a purpose for a token or an NFT or some other bull#### that the same shysty conmen that invented this whole field can come up with
That reminds me of a recent conversation I had with an old, old classmate. He is a little off to put it mildly, chem trail conspiracies and stuff. Maybe some insight into the mind of a crypto guy. Also I have no idea what the hell any of what he was saying meant.
Quote:
him:Hey buddy.. long time
me: Hey. How is everything? Still in Squamish?
him: nope In Vancouver now..
me: How long have you been there?
himast 2 years..
me: Oh. We visited last summer. Where are you?
him: right down by the ports / waterfront..
me: Oh cool. Well we should get together next time I am there. Unless you have some plans to come here. Are you working at the port? Must be busy.
him: nope Im on EI.. but studtying charts for trading... swing/scalping on the 1minute time frame//
me: Oh. Having any success with that? Times are so volatile now.
him: ya I have learned to code some pinescript with Onchain and FRED data... pretty cool.. hack
me: How has that been going so far? Making enough? What have you been doing for fun there?
him: hey.. ya I spend alot of time lately watching/making charts...
me: How has that been going?
him: hey bud been working non-stop on it..
just started a live stream..
- bringing back a free faucet to the masses
what you think about Bitcoin ??
me: Meh. Not much, to honest. It's too volatile to be a good currency, and what would any person in a first-world country need it for? As an investment, it's ups and downs seem to have no rhyme or reason, unless you can predict what some tech bros are going to tweet that could affect it's value.
him: too bad W.. your a bit behind.. maybe give a listen to the latest conference speakers on YT.. You might leave some behind for kids
for example... I mean if BTC takes over the world.. I DO think of it as the world joins the borg.. and assimilates... to mathematical precision.. people have no options in very currupt countries..
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That reminds me of a recent conversation I had with an old, old classmate. He is a little off to put it mildly, chem trail conspiracies and stuff. Maybe some insight into the mind of a crypto guy. Also I have no idea what the hell any of what he was saying meant.
Actually, he was a friend in elementary school / early high school that found me like, 30+ years later and I have never had the chance to meet him again. My last memory was him in Kelowna stealing a security guard’s walkie talkie and trying to get him to pay for it back. There was also a lot of marijuana use. Not by me.
Work on some crypto projects with a few guys that recently were at ETH Denver, BTC Miami and Paris Blockchain Summit, and the kind of meatheads at Miami were apparently something else.
Most "talks" at BTC Miami were basically the crypto equivalent of that old Steve Ballmer clip where he's obviously on coke screaming at the audience.
__________________
Quote:
Originally Posted by MrMastodonFarm
Settle down there, Temple Grandin.
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Has it peaked now? It's back to where it was Jan 2021. What circumstances would cause it to increase in price?
ETH and BTC will probably never peak, other coins that are probably here to stay around, but not as guaranteed: BNB, XRP, DOGE (). Seriously DOGE is a meme coin that will always exist just for the meme.
They'll probably be a massive jump in 2026/7, then 1-2 years for the pullback; for all the complaints about volatility crypto's booms are cyclical 2012/13; 2016/17; 2020/21.
One even that I could see hit BTC hard is a serious crackdown via environmental regulations, ETH should eventually reduce its carbon footprint by 90+%. I don't see meaningful crackdowns on cryptocurrency because public ledgers are great for law enforcement.
there in is the catch 22, if it works as a currency its will no longer be an investment
It isn’t a catch 22 - because this isn’t the “does Bitcoin meet the definition of a currency “ thread
You are just constantly obsessed with trying to make it that , despite literally the rest of the world moving to accept forms of crypto currency and non traditional banking methods
If you don’t think Bitcoin end up being part of the ecosystem there’s nothing wrong with that - there’s tons of issues with Bitcoin itself . This is very common being first in a new tech - everything that comes after can improve on the issues
It does however also get the advantage of being first from an acceptance and ownership standpoint, which makes it valuable to people, hence the price
The problem is that certain people in this thread (and in most circles , places etc) have so little knowledge of the crypto ecosystem , how it works, and what it is trying to accomplish the argument always seems to come down to “Bitcoin is a scam vs Bitcoin going to a million “
Meanwhile , every bank , payment provider , and even credit cards are getting involved and the way financial ecosystems work will drastically change over the next decade
It may not be Bitcoin - in fact I think Bitcoin sucks for most of where the ecosystem is going - but we’re going in this direction
Last edited by Jason14h; 04-21-2022 at 02:17 PM.
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It isn’t a catch 22 - because this isn’t the “does Bitcoin meet the definition of a currency “ thread
You are just constantly obsessed with trying to make it that , despite literally the rest of the world moving to accept forms of crypto currency and non traditional banking methods
If you don’t think Bitcoin end up being part of the ecosystem there’s nothing wrong with that - there’s tons of issues with Bitcoin itself . This is very common being first in a new tech - everything that comes after can improve on the issues
It does however also get the advantage of being first from an acceptance and ownership standpoint, which makes it valuable to people, hence the price
The problem is that certain people in this thread (and in most circles , places etc) have so little knowledge of the crypto ecosystem , how it works, and what it is trying to accomplish the argument always seems to come down to “Bitcoin is a scam vs Bitcoin going to a million “
Meanwhile , every bank , payment provider , and even credit cards are getting involved and the way financial ecosystems work will drastically change over the next decade
It may not be Bitcoin - in fact I think Bitcoin sucks for most of where the ecosystem is going - but we’re going in this direction
How does everyone not have the knowledge but accept it as a currency? These two statements don't make any sense, most people have no clue what Bitcoin is, including most of their crypto bros.
Also "and even credit cards" is such a weird statement since Mastercard has had various projects with various companies for over 5 years now.
Banks see an opportunity to make money from Cryptocurrency, banks are run by their capital market teams, and those teams see massive value in exploiting cryptocurrency.
Payment providers are hit or miss as to if they support cryptocurrency and a lot have tried and some have failed. Will Shopify succeed? Maybe.
Also, when did anyone post that Bitcoin is a scam in this thread recently? I follow this thread religiously and I have not seen anyone call Bitcoin a scam, maybe I missed all these posts by "certain people". Lots of discussions about other coins and tokens being scams, because they are, cryptocurrency is FULL of scams.
How does everyone not have the knowledge but accept it as a currency? These two statements don't make any sense, most people have no clue what Bitcoin is, including most of their crypto bros.
I never said this at all. I never once said anything about Bitcoin as a currency. What are you referring too.
Quote:
Originally Posted by Krovikan
Also "and even credit cards" is such a weird statement since Mastercard has had various projects with various companies for over 5 years now.
Banks see an opportunity to make money from Cryptocurrency, banks are run by their capital market teams, and those teams see massive value in exploiting cryptocurrency.
Payment providers are hit or miss as to if they support cryptocurrency and a lot have tried and some have failed. Will Shopify succeed? Maybe.
Also, when did anyone post that Bitcoin is a scam in this thread recently? I follow this thread religiously and I have not seen anyone call Bitcoin a scam, maybe I missed all these posts by "certain people". Lots of discussions about other coins and tokens being scams, because they are, cryptocurrency is FULL of scams.
I was replying to AFC who thinks Bitcoin and Crypto are a pyramid scheme and keeps going back to how it can't function as a currency. The last few replies are by people who think Bitcoin is a pyramid scheme.
I am totally confused by your reply and which side you are even on....
I am on the crypto will play a large part of the future of payments ecosystems in some way, and dismissing is foolish. Whether Bitcoin end up anywhere near the most accepted 'coin' or not is TBD - And that will determine its future value.
It isn’t a catch 22 - because this isn’t the “does Bitcoin meet the definition of a currency “ thread
You are just constantly obsessed with trying to make it that , despite literally the rest of the world moving to accept forms of crypto currency and non traditional banking methods
If you don’t think Bitcoin end up being part of the ecosystem there’s nothing wrong with that - there’s tons of issues with Bitcoin itself . This is very common being first in a new tech - everything that comes after can improve on the issues
It does however also get the advantage of being first from an acceptance and ownership standpoint, which makes it valuable to people, hence the price
The problem is that certain people in this thread (and in most circles , places etc) have so little knowledge of the crypto ecosystem , how it works, and what it is trying to accomplish the argument always seems to come down to “Bitcoin is a scam vs Bitcoin going to a million “
Meanwhile , every bank , payment provider , and even credit cards are getting involved and the way financial ecosystems work will drastically change over the next decade
It may not be Bitcoin - in fact I think Bitcoin sucks for most of where the ecosystem is going - but we’re going in this direction
you really need to understand the difference between a currency and an investment, an investment in order to work has to be unstable, you hope it is upwardly unstable but you accept the risk it might also be downwardly unstable, right now Crypto, all of it is both massively unstable and an investment, that's its only function.
Currency's on the other hand only work if they are massively stable, if a currency goes up or down more than 2 or 3% a year they cease to be functional as a currency, the effect on an economy of inflation over 10%(that's the term for an unstable currency) is horrendous, the housing market starts to collapse as mortgages become equally expensive, once the currency fluctuates over 20% or so people start looking to barter or turn their money into another denomination that is stable, conversely if a currency gains value over 3 or 4% it is equally damaging, exports drop, people stop making big ticket purchases, no one buys cars or houses (again) because they know they will be cheaper in a few months, it causes unemployment.
Crypto cannot be a currency until it stops being an investment and at that point most will abandon it as it is no longer making them money as an investment therefore there wont be enough people around with it to make it a useful currency, that's the catch 22
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ast 2 years..
). Seriously DOGE is a meme coin that will always exist just for the meme.
