Cryptocurrency
Cryptocurrency
Out of context: Reply #776
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- _niko2
so something that was worth nothing was suddenly worth trillions for some reason and now it's worth nothing again and people are shocked.
- tulipsmonospaced
- The Argentina Peso?shapesalad
- wait what's worth nothing? btc and eth are worth quite a lot...inteliboy
- It’s all just what someone is willing to pay that determines “worth.” an intangible digital “currency” wasn’t worth anything until it was “sold.”monospaced
- ^+YakuZoku
- at least its eco friendly....https...neverscared
- https://www.greenpea…neverscared
- sure, if ya wanna play semantics. Though right now btc is worth $27k. People have been screaming it's death here since it was $2inteliboy
- Salty nocoinercrazyprick
- obviously some of the more stable coins like BTC are ok I guess, talking more about the million other scam coins on the market... and even then..._niko
- nobody can explain how anything really works or why. People spent billions on douchbags in hoodies sleeping on beanbags playing COD just because_niko
- @niko, not saying this to be argumentative, but this is all really explainable. It's a classic bubble, and it's been around for centuries.monospaced
- It's not semantics. Like graf won't STFU about, it's Monopoly money. It's not really valuable. It was hyped and given value and scarcity.monospaced
- Fact is, many people (including myself) bought and sold bitcoin for massive profits. It wasn't as "scam" until it collapsed. It helped paid for my house.monospaced
- Can't blame the cunts who bought at $50 and sold at $5k like I did. it was there for the taking. Only those who missed out are bitter really.monospaced
- No I didn’t profit that much. But not toooo far offmonospaced
- of course mono, but for every clever bloke like yourself, there were hundreds that lost their shirts, they bought into the hype and got put through the grinder_niko
- doesn't make it any less scammy just because people made money on it, people make money on pyramid and Ponzi schemes too_niko
- I think it's like sports cards. Cards had value traditionally because they were scarce, ones in good condition even more so. Legendary players were worth more_niko
- everyone wanted a Babe ruth or a Horus Wagner and it sort of made sense why their cards were worth hundreds to thousands. Then all of a sudden in the 90s_niko
- the market was flooded with hundreds of card companies putting out thousands of cards and driving up the value artificially, "investors" were paying dumb amount_niko
- amounts for common cards that were in abundance and inevitably the bubble burst and everyone lost money, so yeah your analogy to it being a classic bubble is_niko
- spot on but you can't deny all the unscrupulous players that were involved made this something closer to a Ponzi scheme_niko
- I get what you're saying. absolutely is a wasteland of scams and ponzisinteliboy
- I’m not saying it wasn’t a scam dude. I’m agreeing with you.monospaced
- All bubbles have people who profit and some who lose out. The HODL chumps.monospaced
- In Bitcoins case it goes beyond the 'what someone else is prepared to pay for it'. It has utility within a diversified portfolio.shapesalad
- It's a banking hedge. It's an inflation/fiat devaluation hedge. It's a trustless more easily transferred and 100% own able digital gold.shapesalad
- Gold has its utility, but some cons: Not easy to carry across boarders, heavy. Unless in your hands, you have to trust the issuer of it.shapesalad
- So if you have a full portfolio, hedging and covering all bases, bitcoin makes sense as part of that - which starts to impart value to it.shapesalad
- And if you are in Argentina, you want to get paid in Peso's or BTC? I know which I'd prefer.shapesalad
- Suremonospaced
- Salty, salty nocoiners.
Sent from my Lambo.crazyprick - was replying to niko not u monointeliboy
- wordmonospaced