Looking like a rough morning for the Shtcoin Gambler..
Lol nope not a game I wanna play …it’s still total sh*t, doesn’t matter what the price is - just means that it will fall much harder when it approaches the underlying value
Lol nope not a game I wanna play …it’s still total sh*t, doesn’t matter what the price is - just means that it will fall much harder when it approaches the underlying value
That's the spirit!
It seems strange for the price to go up this much when there isn’t as much interest from the hey wanna get rich quick retail suckers as there was in 2020, 2021 to early 2022. Seems manipulated a lot. The guys writing about it seem to point to the ETF approvals as the reason for the recent increase but it seems suspicious
Looking like a rough morning for the Shtcoin Gambler..
Lol nope not a game I wanna play …it’s still total sh*t, doesn’t matter what the price is - just means that it will fall much harder when it approaches the underlying value
Have been hearing some variation of the above for close to a decade. I will ask the same question I asked months earlier in this same thread: can you give a minimum falsifiable date/price whereby you will admit you were wrong? For example, if the BTC/USD exchange rate hits 100k by Jan 1, 2025 will you admit you were wrong? Or if one BTC is still more valuable than new cars in 2035, will you admit you were wrong?
It seems strange for the price to go up this much when there isn’t as much interest from the hey wanna get rich quick retail suckers as there was in 2020, 2021 to early 2022. Seems manipulated a lot. The guys writing about it seem to point to the ETF approvals as the reason for the recent increase but it seems suspicious
What do you think happens when there is a fixed supply of total coins and 10s of billions of dollars of inflow that are now chasing that fixed supply?
Lol nope not a game I wanna play …it’s still total sh*t, doesn’t matter what the price is - just means that it will fall much harder when it approaches the underlying value
Have been hearing some variation of the above for close to a decade. I will ask the same question I asked months earlier in this same thread: can you give a minimum falsifiable date/price whereby you will admit you were wrong? For example, if the BTC/USD exchange rate hits 100k by Jan 1, 2025 will you admit you were wrong? Or if one BTC is still more valuable than new cars in 2035, will you admit you were wrong?
Have been hearing some variation of the above for close to a decade. I will ask the same question I asked months earlier in this same thread: can you give a minimum falsifiable date/price whereby you will admit you were wrong? For example, if the BTC/USD exchange rate hits 100k by Jan 1, 2025 will you admit you were wrong? Or if one BTC is still more valuable than new cars in 2035, will you admit you were wrong?
Fair question. Applies to both sides.
Will the intrinsic value of the coins ever change? The answer is no I think so Price can be 500 K tomorrow and Intrinsic value still zero. Why would you want to own something that doesn’t do anything because you have to dump it on someone else at some point don’t you?
It seems strange for the price to go up this much when there isn’t as much interest from the hey wanna get rich quick retail suckers as there was in 2020, 2021 to early 2022. Seems manipulated a lot. The guys writing about it seem to point to the ETF approvals as the reason for the recent increase but it seems suspicious
What do you think happens when there is a fixed supply of total coins and 10s of billions of dollars of inflow that are now chasing that fixed supply?
Will the intrinsic value of the coins ever change? The answer is no I think so Price can be 500 K tomorrow and Intrinsic value still zero. Why would you want to own something that doesn’t do anything because you have to dump it on someone else at some point don’t you?
So you're saying BTC could go to 500k/USD, and you will still not admit you were wrong? That essentially qualifies as a non-falsifiable belief then.
Btw, what is the "intrinsic value" in any other currency like JPY or EUR?
What do you think happens when there is a fixed supply of total coins and 10s of billions of dollars of inflow that are now chasing that fixed supply?
Beanie babies Limited edition?
Beanie babies have a fixed total supply and 10s of billions of dollars of inflow chasing that fixed supply?
Same question as other moran: what is a minimum falsifiable date/exchange rate where you will admit you were wrong?
I notice people are VERY reluctant to give a falsifiable date/rate, because I think intuitively they know that BTC is here to stay well into the future, and they really resent themselves for not "getting it", despite decades of patient explaining from people who do, who have multiplied their wealth in fiat terms many times over.
Will the intrinsic value of the coins ever change? The answer is no I think so Price can be 500 K tomorrow and Intrinsic value still zero. Why would you want to own something that doesn’t do anything because you have to dump it on someone else at some point don’t you?
Intrinsic value doesn't exist. Value = what someone will pay for it.
There is no god that will let you trade X for Y in absence of a human market.
Will the intrinsic value of the coins ever change? The answer is no I think so Price can be 500 K tomorrow and Intrinsic value still zero. Why would you want to own something that doesn’t do anything because you have to dump it on someone else at some point don’t you?
So you're saying BTC could go to 500k/USD, and you will still not admit you were wrong? That essentially qualifies as a non-falsifiable belief then.
Btw, what is the "intrinsic value" in any other currency like JPY or EUR?
Currencies are a medium of exchange. Sh*tcoins are not currencies
Will the intrinsic value of the coins ever change? The answer is no I think so Price can be 500 K tomorrow and Intrinsic value still zero. Why would you want to own something that doesn’t do anything because you have to dump it on someone else at some point don’t you?
Intrinsic value doesn't exist. Value = what someone will pay for it.
There is no god that will let you trade X for Y in absence of a human market.
Beanie babies traded at thousands of dollars a pop sometime in the late 90s…the Intrinsic value much lower, probably $20 or so, maybe $100 as a collectors item
Sh*tcoins are a gambling game. They are attractive to people who want to play casino games and quickly change fortunes. The illusion with sh*tCoins is as long as number goes up, they remain attractive. It doesn’t matter if the underlying tech can’t be used for anything, if there is no use case yet and if the technology hasn’t changed since 2008. If trading price high and goes in upward trajectory , poor people like to hoard in the hopes they can dump it on someone else at a higher trading price in the future.
“Some on Wall Street say it is quite difficult to estimate the future price of bitcoin because it has no intrinsic value, and most big firms with large research arms are currently staying away from setting targets. JPMorgan Chase (JPM) CEO Jamie Dimon has likened it to a "pet rock." "Bitcoin is like art," said a Wall Street research analyst who requested anonymity. "There's no way to come up with a target.” That hasn’t stopped other financial firms from trying — and setting the price significantly higher than it is today. Some of the companies making these predictions also sell products that provide investors with exposure to the digital asset.” -
I wonder how much these guys have to pay in trading fees in addition to trying to use a magic 8 ball to figure out if the price is gonna go up or down on a given day month or year - or know if it’s even going to exist at a high trading price in 10 years
Probably the best thing to do is to set up a shop and collect the trading fees and then as big firm get access to inside information (legal in shtcoins) so you can dump your bags when the public is buying ( probably what Cathie Wood just did)
Intrinsic value doesn't exist. Value = what someone will pay for it.
There is no god that will let you trade X for Y in absence of a human market.
Beanie babies traded at thousands of dollars a pop sometime in the late 90s…the Intrinsic value much lower, probably $20 or so, maybe $100 as a collectors item
Sh*tcoins are a gambling game. They are attractive to people who want to play casino games and quickly change fortunes. The illusion with sh*tCoins is as long as number goes up, they remain attractive. It doesn’t matter if the underlying tech can’t be used for anything, if there is no use case yet and if the technology hasn’t changed since 2008. If trading price high and goes in upward trajectory , poor people like to hoard in the hopes they can dump it on someone else at a higher trading price in the future.
Again, there is no such as intrinsic value.
You are describe how people's willingness to pay for beanie babies (i.e. demand) changed and so prices fell.
A beanie baby has no use case, yet you think it's worth $100?
So you're saying BTC could go to 500k/USD, and you will still not admit you were wrong? That essentially qualifies as a non-falsifiable belief then.
Btw, what is the "intrinsic value" in any other currency like JPY or EUR?
Currencies are a medium of exchange. Sh*tcoins are not currencies
There, we agree. BTC is the only viable currency among the many imitators. It has served as a highly liquid store of value and medium of exchange for 100s of thousands over the last decade, and a life-raft for those who weren't lucky enough to be born to a country with global seigniorage for their fiat.
I wonder how much these guys have to pay in trading fees in addition to trying to use a magic 8 ball to figure out if the price is gonna go up or down on a given day month or year - or know if it’s even going to exist at a high trading price in 10 years
How to admit you have no mental model of the people who know more than you do.
The use case of BTC is not like the use case of stocks. People buy BTC to maintain purchasing power over the long-haul relative to decaying fiat, not to trade it in for decaying fiat.
I wonder how much these guys have to pay in trading fees in addition to trying to use a magic 8 ball to figure out if the price is gonna go up or down on a given day month or year - or know if it’s even going to exist at a high trading price in 10 years
How to admit you have no mental model of the people who know more than you do.
The use case of BTC is not like the use case of stocks. People buy BTC to maintain purchasing power over the long-haul relative to decaying fiat, not to trade it in for decaying fiat.
Fiat is supposed to lose purchasing power over time. This idea born out of poor people being pissed off that govt rescued big banks in 2008 financial crisis is just dumb. There are problems with the system, yes, but the answer is not hoarding worthless coins. It’s just another mechanism for poor people to be taken advantage of. They just don’t know it yet.