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Thread: Bitcoin and other cryptocurrencies

  1. #81
    shotgunfingers's Avatar
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    Last edited by shotgunfingers; 01-11-2021 at 08:09 PM.

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  3. #83
    Italians do it better Lolita's Avatar
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    Quote Originally Posted by kingslayer View Post
    Nothing. It's basically like the USD> in that it only has value because people say so. That's pretty much it. They found an alternate currency through crypto mining and attributed USD value to it (which is hilarious that their "alternate currency to the USD" is valued by the USD ). So a bunch of people figured we could collectively bring value to this shit by trading it through USD and creating more and increasing the market cap. Alongside trying to hard sell everyone around them to keep buying and the market flowing, a crash is always inevitable. It lost 80% of it's value once already. I could always be wrong about this, yet it's highly unlikely. Most big time Financers agree Crypto is a pile of bullshit, but you can hop on for the ride and make money trading, which is the smart thing to do. That's why you're seeing institutions dropping big time money into this right now. Them cashing out, probably triggered by the vaccine or any other event will cause a MAJOR dip in price, causing the sheep to sell, causing more sells and severe dips. Perhaps the next 80% dip.

    These people staking their life savings and shit are crazy. If I'm wrong and they get rich Kudos to them, I personally don't think it's a smart risk at all to invest that much into something that can lose 80% of it's value so drastically. I'd rather trade stocks than speculative bullshit.
    Thank you! That's what I thought because it just seems shady and so arbitrary to assign whatever "value" to something that doesn't really exist. It just sounds like a securities fraud type of thing. My take is, stocks take awhile to gain value and it's not some get rich quick scheme contrary to what others say. If you buy and sell stocks so quickly, you're going to get killed with the heavy taxes and then it'll end up being unprofitable. Throwing your life's savings into some shadyass scheme with promises of a high reward with no evidence as to why it works that way is bad news. But, I don't have money to throw around so I'm more cautious, although I've met some really risky people who do actually like to go all in and they have less than me (like buy a ton of lotto tickets).

  4. #84
    that's alright I like the way it burnz DrDonkeyBallz's Avatar
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    Here’s one small application,

    In general, the quality of life increases with increased access to financial services and documentation. Here in the states, we use banks to send money at low cost, get access to credit, manage risk via insurance, etc.

    However, there are BILLIONS of people around the world that don’t have access to banks and thus miss out on the advantages they bring.

    Cryptocurrency offers a solution to this:

    Blockchains- basically a big database. It enables you to build a censorship resistant, always accessible digital history.

    Decentralized Transaction Systems- because it’s decentralized, sending money / transactions is dirt cheap and cost less than a penny

    Smart Contracts- will provide a foundation for peer-to-peer low cost microfinance and microinsurance applications

    In a nutshell, it allows people to be their own bank without the need of a third party/government/bank interference.

    Right now, a bunch of projects are in its infancy, but the world is trending towards using decentralized digital currency one day.

    Throwing your life savings into anything is stupid, so you should invest what you can afford to use after you do your due diligence of researching each digital asset. Look at things like:

    --Team
    --Technology
    --Partnerships
    --Longevity/Originality
    --Price entry point
    Cybergang bullying is real. Don't let it happen to u. PM me for advice and we can destroy these nerds together forever



  5. #85
    Adam Strange's Avatar
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    Quote Originally Posted by DrDonkeyBallz View Post
    Here’s one small application,

    In general, the quality of life increases with increased access to financial services and documentation. Here in the states, we use banks to send money at low cost, get access to credit, manage risk via insurance, etc.

    However, there are BILLIONS of people around the world that don’t have access to banks and thus miss out on the advantages they bring.

    Cryptocurrency offers a solution to this:

    Blockchains- basically a big database. It enables you to build a censorship resistant, always accessible digital history.

    Decentralized Transaction Systems- because it’s decentralized, sending money / transactions is dirt cheap and cost less than a penny

    Smart Contracts- will provide a foundation for peer-to-peer low cost microfinance and microinsurance applications

    In a nutshell, it allows people to be their own bank without the need of a third party/government/bank interference.

    Right now, a bunch of projects are in its infancy, but the world is trending towards using decentralized digital currency one day.

    Cryptocurrency? Almost a billion people in the world can't read.

  6. #86
    that's alright I like the way it burnz DrDonkeyBallz's Avatar
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    Quote Originally Posted by Adam Strange View Post
    Cryptocurrency? Almost a billion people in the world can't read.
    Did you have the same doubts before the internet was created
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  7. #87
    shotgunfingers's Avatar
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    Quote Originally Posted by DrDonkeyBallz View Post
    Did you have the same doubts before the internet was created
    He is just virtue signaling to his ESI dual >).. quite cringe.

  8. #88
    Adam Strange's Avatar
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    Quote Originally Posted by shotgunfingers View Post
    He is just virtue signaling to his ESI dual >).. quite cringe.
    I was? I thought I was saying that people who can’t read are probably not going to be saved by a currency that requires computing machinery for its use and existence.

    How do you get “virtue signaling” from that?

  9. #89
    Alive's Avatar
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    99% of crypto projects are absolute trash, and I think the majority of people will lose money in the long run, because they are inexperienced with trading and crypto is a high risk high reward market. the people that benefit the most from the market are already rich, because they can afford to throw a large sum of money at a random shitcoin and forget about it for a while. the whole market is an unregulated gamma mess and filled with greed and repulsive people, but there are some really promising projects out there, and they can help me finance my socionics projects, because my idiotic country doesn't support unconventional ideas.

    I'm holding BTC, ETH, RLC, LINK, SCRT and XMR. have been researching these projects for years now and applied socionics to type the teams and evaluate the projects.

  10. #90
    shotgunfingers's Avatar
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    Quote Originally Posted by Adam Strange View Post
    I was? I thought I was saying that people who can’t read are probably not going to be saved by a currency that requires computing machinery for its use and existence.

    How do you get “virtue signaling” from that?
    because you were referring to "poor disenfranchised ppl", thats like dog whistling to Fi ego types.

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