OT any of you investing in Cryptocurrencies?

[ccvle]

The problem is not block chain. The technology is real and is here. The problem is investing in digital currencies. Why would you invest in digital currencies that get outdated and get replaced with new ones ? Internet changed the world but you if you want to invest in the internet, you wouldnt invest in 56k modems in the 90s right?

[ChilledAlex]

No offense taken.and no Im not trying to lure anyone into doing something they would not willing to do normally.

As far as bitcoin and all digital currencies in general being a ponzi scheme, let me ask you why does any currency not also merit that assessment? Currency availability is controlled by the Government and this means to becoming more or less valuable in the flow of Forex Markets which speculates on such values. So Bitcoin which is also traded in that market has as much respectability as the USD, GBP or the EUR and so to suggest it’s a massive Ponzi scheme is off the mark.

The rise in Digital Currency is still in it’s infancy and the development of new coins will bring opportunities for those (like me ) with a view to enriching their situation.

If the demand is there for the currency that will ensure there will be more in circulation to meet that requirement exactly as is the case with “currency” that we regard as “the norm”. Like all new technologies Bitcoin and Digital Currency is at the forefront of the Financial World and it’s functionality and lifespan is unknown but I can honestly say Bitcoin is here to stay- IMO.

A Pyramid/Ponzi is by definition something that has no inherent value, Bitcoin is exchanged in transactions that transfer funds from purchaser to seller therefore cant be deemed in any shape or form a “scheme”, Pyramid or illegal financial system.

All i suggest is for those that are hesitant is to learn about the opportunity to gain from the Bitcoin and digital currencies market.

But the point stands - cryptocurrencies have close to 0 use and their price is only based on demand. In the end you just store your dollars in cryptocurrency thats price is dictated by demand and has no use other than.... store dollars LOL. In my opinion that's textbook idiotism to trust and buy something like that

Slight correction: BTC is not a demandside based currency, it's entirely speculative. There is 0 demand for it to conduct transactions, just to be clear for all readers.

BTC and other cryptos are purely speculative plays w little to 0 demandside action.

So what determines the price of BTC if not demand?

[J0rdan4life42o]

But the point stands - cryptocurrencies have close to 0 use and their price is only based on demand. In the end you just store your dollars in cryptocurrency thats price is dictated by demand and has no use other than.... store dollars LOL. In my opinion that's textbook idiotism to trust and buy something like that

Slight correction: BTC is not a demandside based currency, it's entirely speculative. There is 0 demand for it to conduct transactions, just to be clear for all readers.

BTC and other cryptos are purely speculative plays w little to 0 demandside action.

So what determines the price of BTC if not demand?

It's driven by speculation. Always has been.

Sent from my Nexus 6P using RealGM mobile app

[Garbagelo]

This thing was finished as as soon as this post was made.

[ChilledAlex]

Slight correction: BTC is not a demandside based currency, it's entirely speculative. There is 0 demand for it to conduct transactions, just to be clear for all readers.

BTC and other cryptos are purely speculative plays w little to 0 demandside action.

So what determines the price of BTC if not demand?

It's driven by speculation. Always has been.

Sent from my Nexus 6P using RealGM mobile app

And what is speculation if not demand based on hope? They could be buying out buckets or spades and those would also skyrocket due to demand. Spades and buckets would be safer investment too since they are actually produced out of materials and not just virtual garbage

[J9Starks3]

This thing was finished as as soon as this post was made.

Checked if it was made on a Friday......I assume Robert Randolph has a song for crypto......

[Greenie]

Are we really arguing about this?

[cuyankees]

So what determines the price of BTC if not demand?

It's driven by speculation. Always has been.

Sent from my Nexus 6P using RealGM mobile app

And what is speculation if not demand based on hope? They could be buying out buckets or spades and those would also skyrocket due to demand. Spades and buckets would be safer investment too since they are actually produced out of materials and not just virtual garbage

wOUT starting a FX 101 class, "demand" for a currency is different than the demand you're thinking of.

[ChilledAlex]

It's driven by speculation. Always has been.

Sent from my Nexus 6P using RealGM mobile app

And what is speculation if not demand based on hope? They could be buying out buckets or spades and those would also skyrocket due to demand. Spades and buckets would be safer investment too since they are actually produced out of materials and not just virtual garbage

wOUT starting a FX 101 class, "demand" for a currency is different than the demand you're thinking of.

BTC isn't a currency, you can buy things with currency, you can't buy **** with BTC. It's just transaction dollar -> btc -> dollar for deal to be "untraceable" "tax free"

Or you can teach me the hidden things where people use BTC

[robillionaire]

And what is speculation if not demand based on hope? They could be buying out buckets or spades and those would also skyrocket due to demand. Spades and buckets would be safer investment too since they are actually produced out of materials and not just virtual garbage

wOUT starting a FX 101 class, "demand" for a currency is different than the demand you're thinking of.

BTC isn't a currency, you can buy things with currency, you can't buy **** with BTC. It's just transaction dollar -> btc -> dollar for deal to be "untraceable" "tax free"

Or you can teach me the hidden things where people use BTC

There are things you can buy with BTC, here's one example

https://www.jmbullion.com/buying-gold-silver-bitcoin-faq/

[ChilledAlex]

wOUT starting a FX 101 class, "demand" for a currency is different than the demand you're thinking of.

BTC isn't a currency, you can buy things with currency, you can't buy **** with BTC. It's just transaction dollar -> btc -> dollar for deal to be "untraceable" "tax free"

Or you can teach me the hidden things where people use BTC

There are things you can buy with BTC, here's one example

https://www.jmbullion.com/buying-gold-silver-bitcoin-faq/

I'm sure you can also find places that would exchange gold for used cars at certain price, doesnt make used cars a good investment or a currency

[RHODEY]

wOUT starting a FX 101 class, "demand" for a currency is different than the demand you're thinking of.

BTC isn't a currency, you can buy things with currency, you can't buy **** with BTC. It's just transaction dollar -> btc -> dollar for deal to be "untraceable" "tax free"

Or you can teach me the hidden things where people use BTC

There are things you can buy with BTC, here's one example

https://www.jmbullion.com/buying-gold-silver-bitcoin-faq/

Nice try but I dont think facts matter to him

[robillionaire]

BTC isn't a currency, you can buy things with currency, you can't buy **** with BTC. It's just transaction dollar -> btc -> dollar for deal to be "untraceable" "tax free"

Or you can teach me the hidden things where people use BTC

There are things you can buy with BTC, here's one example

https://www.jmbullion.com/buying-gold-silver-bitcoin-faq/

I'm sure you can also find places that would exchange gold for used cars at certain price, doesnt make used cars a good investment or a currency

"btc isn't a currency, you can buy things with currency, you can't buy **** with btc"

*is shown an example of something you can buy with BTC (another example: you can buy anything on overstock.com with btc)*

"uh well that doesn't count!" *shifts goalposts* "that doesn't mean it's a good investment"

call it what you want I'm just pointing out that you actually can buy things with it contrary to what you're saying

[ChilledAlex]

There are things you can buy with BTC, here's one example

https://www.jmbullion.com/buying-gold-silver-bitcoin-faq/

I'm sure you can also find places that would exchange gold for used cars at certain price, doesnt make used cars a good investment or a currency

"btc isn't a currency, you can buy things with currency, you can't buy **** with btc"

*is shown an example of something you can buy with BTC (another example: you can buy anything on overstock.com with btc)*

"uh well that doesn't count!" *shifts goalposts* "that doesn't mean it's a good investment"

call it what you want I'm just pointing out that you actually can buy things with it contrary to what you're saying

DAmn you cryptocurrenciers deserve to lose your money since you're so dumb and naive, good god

You think that economics and market is so complicated and **** and you guys were sold that bitcoin is this new invention and future when in fact you have absolutely no clue what is it

Textbook pyramid scheme which you clowns are defending because you lost so so damn much and now you're in defensive mode

"BUT YOU CAN BUY STUFF! - HERE LOOK GOLD COINS EVERYONE BUYS GOLD COINS FOR BITCOIN"

"SEE HOW GOOD IT IS??"

LMFAO, Alright i'll let you live, enjoy your lost "investment' you mighty economists and investors

[cuyankees]

Uhhh Alex, you don’t seem Chilled.

[robillionaire]

Yeah I’m just adding the poster child for Dunning-Kruger effect up here to my block list

[CharlesOakley]

Arguing that supply and demand isn't what drives the market price...

[Im Coming Home]

Might as well hold my small investment I made and just wait for crypto to be the wave in 5-10 years, and the internet grows so will this I think, but its just gonna be slower than originally anticipated.

If I'm wrong, whatever, I'm already down the small money I put in so whats the harm in just holding it out now.

[NYG]

My opinion? Don’t invest in crypto currency, it’ll never be worth more than it’s equivalent value in US Dollars. So if 1 bitcoin is worth $1 Million, which would you rather have? 90% of crypto investors are just going to bail when it reaches a significant dollar amount which gives crypto no inherent value of its own meaning most of that 90% will bail too late and lose out.

[RHODEY]

Yeah I’m just adding the poster child for Dunning-Kruger effect up here to my block list

Yep Troll city ....he had me going for sec.