OT. Crypto | Page 3 | The Boneyard

OT. Crypto

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Drame said:
People have been saying that for 16 years now. People don't understand the value of tokenized or digital assets and currency. To help explain to newbs what blockchain is and can become I like to use the technological innovation of digital photography as an analogy. Analog film photography was more expensive and slower, often required specialists, and was difficult to retouch enhance and program. Digital photography revolutionized the space with social media, commerce, the internet, iphones, everyone participates. A similar thing could happen with digitized assets. Currencies are just the tip of the iceberg. Blockchain can increase the liquidity of all assets. Tokenize your art collection, developing countries tokenize their natural resources so its just not China and other oligarchs coming in to plunder. There's tons of potential. Who knows how far it will go.
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I’m not so sure I’d want everyone participating with my digitized assets. Or effecting its value.
 
Fan1978 said:
Congratulations go red or black next. This is gambling plain and simple. Hope it ends well for you
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it's all gambling, no different then the stock market. I'm in stocks, metals & crypto with the majority in metals & the market. It's called diversification & hedging. A couple grand in crypto is not the end all be all one way or the other, if it takes off I make out and if it don't not a huge loss, no different then other investments. I would be more concerned about the markets right now because the big guys a selling off which usually followed by a major correction which we should see sometime in the next month or 2.
Banks are a guaranteed loser.
 
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CONN78SEJ said:
Last time I checked, zero is a part of math.
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Zero is not a number according to every math teacher who does 'shrooms.

Source: a math teacher who was on 'shrooms at the time.

The science version is "there is no such thing as "cold"
 
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temery said:
Zero is not a number according to every math teacher who does 'shrooms.

Source: a math teach who was on 'shrooms at the time.

The science version is "there is no such thing as "cold"
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X squared + 1= 0……”x” does exist in mathematics.
 
uconndogs said:
Never "invested" in crypto and I doubt I ever will. I'm not smart enough to understand why it's just not pure speculation.
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You're absolutely correct about it being speculation. Yet bitcoin has significant transactional utility at this point. I think it started out as a currency that gamers used to buy tokens although don't quote me on that. It seems a lot of them are the younger ones that got rich quick. I'm guessing a lot of that money drove the meme stocks over the years.
In the end, every investment is worth what everyone thinks it is at the moment. While I'm not a crypto investor, my general thoughts on something like Bitcoin are that it always seems to be a good investment below 20K and certainly 15K, but the chances of it going back down that far seem remote at the moment.
 
HuskyHawk said:
I'll ask a few questions in response. Is gold really all that useful as a metal? Aluminum is far more useful. So is steel. Diamonds are useful for drills. Rubies? Sapphires? Pretty useless. Is a basketball signed by the whole 1999 UConn team more useful than one that isn't? No. That piece of paper with $100 written on it? What's the underlying value? You can say the full faith and credit of the United States (currently negative $34 Trillion). So for all those things it comes down to the fact that a significant number of people decided that they have value and will trade for them. Same for Bitcoin. Because it can't be inflated by a central bank, and because it increasingly is accepted a means of exchange, its value is going up. Other crypto have different reasons.

Honestly the risk to bitcoin is fairly singular, governments may view it as a threat and take action to limit its use as a means of exchange through regulation.
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The value of the dollar is that it is backed by our Govts GDP, it's global adoption especially as petro-currency, the ability to tax you and me to cover debt, and a huge military to protect our business interests globally if everything else falls apart. That's why playing Russian roulette with a government shutdown is such a risk for us. But I digress and don't want the thread shut down. Back to Crypto...
 
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HuskyHawk said:
I'll ask a few questions in response. Is gold really all that useful as a metal? Aluminum is far more useful. So is steel. Diamonds are useful for drills. Rubies? Sapphires? Pretty useless. Is a basketball signed by the whole 1999 UConn team more useful than one that isn't? No. That piece of paper with $100 written on it? What's the underlying value? You can say the full faith and credit of the United States (currently negative $34 Trillion). So for all those things it comes down to the fact that a significant number of people decided that they have value and will trade for them. Same for Bitcoin. Because it can't be inflated by a central bank, and because it increasingly is accepted a means of exchange, its value is going up. Other crypto have different reasons.

Honestly the risk to bitcoin is fairly singular, governments may view it as a threat and take action to limit its use as a means of exchange through regulation.
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Morgan Freeman Applause GIF by The Academy Awards
 
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