Cryptoguy.... wrote:
Bitcoin has no real utility- you are right. To me as a huge crypto investor, who's made dozens of thousands just in the last 6 months alone, it is a poor crypto representative.."
Most people made that in unrealized gains the last year too, in an index fund. The difference is crypto bro on Robinhood SoFi etc with very low portfolio balance have to gamble it in crypto to have that kind of unrealized gain (which just evaporated in the last month)
Tell me where I could’ve made my 19000% gain since 2014 with an index fund. LOL.
BTC guy wrote:
Tell me where I could’ve made my 19000% gain since 2014 with an index fund. LOL.
Sure! It is fact that over the last decade Crypto if we treat it as an asset class (an unregistered unregulated one at that) and not as a currency (99% of the space being total scam) has had the highest increase in the value it trades for, but that does not mean it is a great place to put your money in general or that that kind of return will continue. I believe its current trading value is based on mania “number go up,” but it doesn’t change that its fundamental value/utility is zero. Maybe if you are a crypto whale who owns and controls enough to manipulate price, or starting your own coin to do a rug pull it is good or you’re a good pumper on social media it is?
Sh||tcoin Gambler wrote:
BTC guy wrote:
Tell me where I could’ve made my 19000% gain since 2014 with an index fund. LOL.
blah blah blah
translation: no
Aside: what TF do you want MORE financial regulations. Lets just add more friction to the global markets! Brilliant! I dont wanna be stuck in 1995 forever.
BTC 4eva wrote:
Sh||tcoin Gambler wrote:
blah blah blah
translation: no
Aside: what TF do you want MORE financial regulations. Lets just add more friction to the global markets! Brilliant! I dont wanna be stuck in 1995 forever.
But how will banks and the government get their cut. Won’t someone think of the banking industry!
Techno-pessimists feed my soul.
If you criticize the banks it’s probably because you see the world as:
I can either put my money in Shtcoins (gambling) or I can put my money in a savings account (next to zero interest). There are many other opportunities I don’t know why you would pick shtcoins and things with zero fundamental
BTC 4eva wrote:
Tell me where I could’ve made my 19000% gain since 2014 with an index fund. LOL.
It’s insane to expect those kinds of returns. Maybe with a scam or with Bernie Madoff they can promise you that
Jalapeno wrote:
If you criticize the banks it’s probably because you see the world as:
I can either put my money in Shtcoins (gambling) or I can put my money in a savings account (next to zero interest). There are many other opportunities I don’t know why you would pick shtcoins and things with zero fundamental
Not just banks as hole to dump money in. As grifters and the friction in the gears of the global market economy. For a looong time centralized function and expertise was required. Not so any more. They don’t need their cut but they will fight fight fight to protect it.
Sh||tcoin Gambler wrote:
BTC 4eva wrote:
Tell me where I could’ve made my 19000% gain since 2014 with an index fund. LOL.
It’s insane to expect those kinds of returns. Maybe with a scam or with Bernie Madoff they can promise you that
Obviously it won’t continue the same way. But I saw value before anyone else did and made a lot of money.
Something something fundamentals.
Sh||tcoin Gambler wrote:
BTC guy wrote:
Tell me where I could’ve made my 19000% gain since 2014 with an index fund. LOL.
Sure! It is fact that over the last decade Crypto if we treat it as an asset class (an unregistered unregulated one at that) and not as a currency (99% of the space being total scam) has had the highest increase in the value it trades for, but that does not mean it is a great place to put your money in general or that that kind of return will continue. I believe its current trading value is based on mania “number go up,” but it doesn’t change that its fundamental value/utility is zero. Maybe if you are a crypto whale who owns and controls enough to manipulate price, or starting your own coin to do a rug pull it is good or you’re a good pumper on social media it is?
Lol the money I'm making in crypto isn't from appreciation, again you don't understand why blockchain is so profitable. I've made my initial investment back thousands of times over from DeFi to the point where if, as you say, eth eventually goes to zero, It doesn't matter because the few thousands of dollars I invested and deployed in 2017 have yielded millions in cash and stables.
Anyone who honestly thinks fiat currency is going to be replaced by crypto (less value than a casino chip) is just wishing upon a lucky star.
There is exactly zero chance of that happening in any of our lifetimes. WW3 will happen first.
Cryptos will be allowed to continue, but taxed and regulated to the point of irrelevance as a mean of "investing".
In other words wrote:
Anyone who honestly thinks fiat currency is going to be replaced by crypto (less value than a casino chip) is just wishing upon a lucky star.
There is exactly zero chance of that happening in any of our lifetimes. WW3 will happen first.
Cryptos will be allowed to continue, but taxed and regulated to the point of irrelevance as a mean of "investing".
“Hence, if it requires, say, a thousand years to fit for easy flight a bird which started with rudimentary wings, or ten thousand for one with started with no wings at all and had to sprout them ab initio, it might be assumed that the flying machine which will really fly might be evolved by the combined and continuous efforts of mathematicians and mechanicians in from one million to ten million years — provided, of course, we can meanwhile eliminate such little drawbacks and embarrassments as the existing relation between weight and strength in inorganic materials.”
NYT Op-Ed, Oct 9th, 1903.
First flight at Kitty Hawk: Dec 17th, 1903.
At least your prognostications are not alone in annals in history!
In other words wrote:
Anyone who honestly thinks fiat currency is going to be replaced by crypto (less value than a casino chip) is just wishing upon a lucky star.
There is exactly zero chance of that happening in any of our lifetimes. WW3 will happen first.
Cryptos will be allowed to continue, but taxed and regulated to the point of irrelevance as a mean of "investing".
yeah and how will that occur don't you understand that it's not even technically possible to do that 😂
If you are buying Bitcoin now, there is absolutely no chance you are beating the Nasdaq or S&P 500 over the next 30 years.
Crypto communities seem to think that everyone who isn't throwing money at CumShibaGirlFeetCoin is just stashing it away in a savings accounts. In reality, the vast majority of people hold most of their wealth in 401k (or equivalent) retirement accounts or their primary residence.
It's almost alarming actually, the saying "slow and steady wins the race" is largely ignored. Everyone wants to be a millionaire by sitting and clicking their mouse on some coins.
In other words wrote:
Anyone who honestly thinks fiat currency is going to be replaced by crypto (less value than a casino chip) is just wishing upon a lucky star.
There is exactly zero chance of that happening in any of our lifetimes. WW3 will happen first.
Cryptos will be allowed to continue, but taxed and regulated to the point of irrelevance as a mean of "investing".
agreed +1
yargl wrote:
Lol the money I'm making in crypto isn't from appreciation, again you don't understand why blockchain is so profitable. I've made my initial investment back thousands of times over from DeFi to the point where if, as you say, eth eventually goes to zero, It doesn't matter because the few thousands of dollars I invested and deployed in 2017 have yielded millions in cash and stables.
Can you (or anyone else here) explain how DeFi at crypto.com is able to offer up to 14% simple interest on savings? They must be taking huge bets with some idiot betting on crypto on the other end? But they don't pay you the 12-14% in fiat, do they? Maybe that's the catch. Either way the whole thing reeks of dog sht
They in love with the shtcoins?
https://decrypt.co/89865/january-6-capitol-hill-riot-one-year-later-far-right-bitcoin
"One week after the riot, Chainalysis blockchain data showed how Bitcoin may have financed the Capital Hill riots. A now-deceased French donor, per instructions in his suicide note, left $500,000 in Bitcoin to over 20 separate wallets belonging to members of the far right. One recipient was Nick Fuentes, a white supremacist published on neo-Nazi website The Daily Stormer. Fuentes was at the capitol on January 6.
Yet this donation merely scratched the surface on how the far right has embraced crypto financing.
Nazis, terrorists, and crypto
The year following the Capitol Hill riots has produced a plethora of examples where cryptocurrency became a cornerstone of funding for the far right.
In July 2021, the Financial Action Task Force—a global financial crime watchdog—released a report that documented how far-right groups had gravitated to cryptocurrencies. The report listed a who’s who of infamous far-right extremists, including Brenton Tarrant, who carried out the Christchurch mosque shooting in 2019.
Before killing 51 and injuring another 40, Tarrant made multiple Bitcoin donations to far-right extremists overseas. One recipient was Generation Identitaire, a far-right group in France; another was Martin Sellner, a far-right extremist in Austria.
The FATF report also cited Schild and Vrienden, a Belgian far-right group whose name translates to Shields and Friends. The FATF found the group tripled their resources by using Bitcoin.
Yet another example is Nordfront, or the “Nordic Resistance Movement,” which has also encouraged followers to donate funds using Bitcoin or Monero, a privacy oriented cryptocurrency that champions total anonymity."
Traditional securities will be going to various Distributed cryptos and US Fed cryptos soon. Eventually they will all be easily tradable on crypto apps. That's the goal. To have open, internet money that can't be sanctioned by the US Fed, Bank of Japan, etc.
Molokai wrote:
Traditional securities will be going to various Distributed cryptos and US Fed cryptos soon. Eventually they will all be easily tradable on crypto apps. That's the goal. To have open, internet money that can't be sanctioned by the US Fed, Bank of Japan, etc.
I think you mean CBDCs central bank digital currencies which has nothing to do with crypto or blockchain
In my experience building wealth the regular way (through stocks and real estate) I don't see any "sanctioned by the US Fed, Bank of Japan." I have no idea wtf you're talking about.