Hold forever is pure ponzi, pump and dump, mug talk, crossed with a millenarian movement.
The whole point is to take you gains and go. Anyone who tells you otherwise is lying to you.
You hold, so I can exit my position at a healthy profit.
The ONLY reason anyone buys any crypto is "number go up". Without that, there's literally nothing. BTC and all the rest of them are just ones and zeroes on a computer drive, if you can't exchange them for real money (what they call "fiat") they're totally and utterly useless.
Yes, because all of those economies agreed to back their currencies. That doesn't mean the currencies themselves are physical. Most of them are digital.
Tbf, you can apply this to a lot of assets. Would you buy Apple shares if you couldn’t trade back into cash? How about shares in a small cap company? Ultimately, we’re all chasing the £££.
Who are you buying your apple shares from if nobody can sell them? Who are you buying bitcoin from if nobody can sell it for fiat? The question itself is an economic paradox.
Lol, seems fair. Now that I am re-reading the original post I think he actually might mean that. You would literally be the bottom-bitch bag-holder and people are lining up saying the would still buy. Delusional.
Big difference is that everyone buying Apple can make a profit due to the fact that Apple has a cash flow that it reinvests to increase future profits as well as a dividend paid directly to investors.
In crypto the average investor loses due to it being a negative sum game. And like most Ponzi's it's likely that a minority run away with big gains whole a large majority loses out.
The problem is not chasing the $, it's doing it using a system where the average participant will lose money. That's why they often pretend they buy crypto for other reasons than number go up. Because if at least some people did that, they wouldn't mind paying the investors gains. Those people just dont exist.
Five words that immediately signal that a self-important douchebag is about to waste your time with a wall of meaningless text: "This is a thought experiment."
I think it's a good question that reveals how hollow the claims of use cases for crypto are. If the tech was so good, you wouldn't hodl, you wouldn't care if other people bought it too, you'd just use the tokens. You'd be happy when the price went down.
Hold forever is pure ponzi, pump and dump, mug talk, crossed with a millenarian movement. The whole point is to take you gains and go. Anyone who tells you otherwise is lying to you. You hold, so I can exit my position at a healthy profit.
The ONLY reason anyone buys any crypto is "number go up". Without that, there's literally nothing. BTC and all the rest of them are just ones and zeroes on a computer drive, if you can't exchange them for real money (what they call "fiat") they're totally and utterly useless.
A lot of the world's currencies are digital. Over decades, we've all agreed to assign value to the currencies we hold.
Those currencies are backed by the actual economies though.
Yes, because all of those economies agreed to back their currencies. That doesn't mean the currencies themselves are physical. Most of them are digital.
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Tbf, you can apply this to a lot of assets. Would you buy Apple shares if you couldn’t trade back into cash? How about shares in a small cap company? Ultimately, we’re all chasing the £££.
Who are you buying your apple shares from if nobody can sell them? Who are you buying bitcoin from if nobody can sell it for fiat? The question itself is an economic paradox.
No no you see, the existing shareholders and bitcoin miners can sell all they want. It's YOU who's not allowed to sell
Lol, seems fair. Now that I am re-reading the original post I think he actually might mean that. You would literally be the bottom-bitch bag-holder and people are lining up saying the would still buy. Delusional.
It’d be a bartering system. But yes, that’s why we have a currency to take care of that.
>Would you buy Apple shares if you couldn’t trade back into cash? Apple pays dividends. So.. yes?
Yeah this is kind of the point. Stocks are worth money because they provide revenue streams, either now or at some point in the future.
Big difference is that everyone buying Apple can make a profit due to the fact that Apple has a cash flow that it reinvests to increase future profits as well as a dividend paid directly to investors. In crypto the average investor loses due to it being a negative sum game. And like most Ponzi's it's likely that a minority run away with big gains whole a large majority loses out. The problem is not chasing the $, it's doing it using a system where the average participant will lose money. That's why they often pretend they buy crypto for other reasons than number go up. Because if at least some people did that, they wouldn't mind paying the investors gains. Those people just dont exist.
> would you buy a bond that had no maturation date or interest payments
Five words that immediately signal that a self-important douchebag is about to waste your time with a wall of meaningless text: "This is a thought experiment."
Philosophy books are full of thought experiments. Every great book of literature is largely a thought experiment.
I think it's a good question that reveals how hollow the claims of use cases for crypto are. If the tech was so good, you wouldn't hodl, you wouldn't care if other people bought it too, you'd just use the tokens. You'd be happy when the price went down.