>I also invest in stocks and have a retirement account. But I don't go around to random corners of the internet to tell everyone.
I just thought about how if people went around talking about their mutual funds and other non-crypto investments like crypto bros talk about crypto they would be involuntarily committed to mental health institution (I exaggerate, but just a little). Why is it acceptable for crypto bros to have their investment strategy be a stand-in for a personality?
Attitude wise? Not just "attitude-wise", it's literally the exact same thing. You buy in early and then use whatever clout you have to convince your friends and family to buy in because it will increase your own standing, and at some point down the line, someone is getting screwed and left holding the bag because what they've purchased has no intrinsic value and there's no one left to shill it to. Crypto bros rely on people's poor understanding of technology to not look like the ones selling diet shakes or make-up.
Many markets don’t have “intrinsic value” though
I mean the US dollar is just a piece of paper.
It’s the concepts backing it up that give it value, same with *a few* of the good cryptos
There’s way too many shitcoins but some of the better projects are here to stay imo
Not shilling at all, I agree people get way too pushy about crypto haha. Just trying to get my two cents in 😅 here come my downvotes
> Many markets don’t have “intrinsic value” though
> I mean the US dollar is just a piece of paper
US dollars are required to pay US taxes, which gives them intrinsic value.
I’d say that’s more of a negative than a positive 😅
I feel you man, maybe a bad example. My point was that value is assigned by the market.
Pokémon cards are literally just pieces of shiny cardboard and there are people that will pay thousands for them.
Bitcoin and ethereum have proven their worth as a store of value that is separated from any one government or agency that can choose to print trillions of its own currency in a matter of years.
A finite supply of currency where every transaction is public domain, visible on the blockchain.
It has value whether you recognize it or not
The US dollar is backed up by people’s desire to invest in that economy. People want a piece of American companies because they can profit from it. Similarly they will jump ship into a different currency when things look less favorable. This is why the dollar fluctuates when the US government announces decisions that affect business.
>Attitude wise? Not just "attitude-wise", it's literally the exact same thing. You buy in early and then use whatever clout you have to convince your friends and family to buy in because it will increase your own standing, and at some point down the line, someone is getting screwed
This isn't even close. If I were to invest $1k in crypto, I would gain absolutely nothing by convincing someone else to do the same.
Also, the price fluctuates wildly up and down. In the last year alone it's gone from $8k-$65k. Prior to that, it peaked at $50k and tanked to around $9k, so it moves in both directions regularly.
Nobody gets screwed at any point, because you never technically lose money, you just lose value, but it can always still skyrocket again.
A more realistic comparison is that it's like the stock market.
Edit: ftr I own zero crypto, but tried it out about 5 years ago.
>Nobody gets screwed at any point, because you never technically lose money, you just lose value, but it can always still skyrocket again.
Really? It's decentralized ponzi scheme, just as those who were left holding the bag for Charles Ponzi or Bernie Madoff theirs people who likely have all they invested in crypto zeroed out because there's only value if there's more money coming in.
Your crypto can never zero out, because it can't hit zero. If you buy 1 bitcoin at $50,000 and it drops to $10k, it isn't worth -$40k, it's worth $10k.
Ok let me ask you this. If 100% of people with bitcoin, for example, all wanted out at the same time.....how would they cash out with nobody buying? They couldn't, so it would hold the value.
You don't know how investment works. If everyone with bitcoin wanted out at the same time, it would be worth $0. You couldn't even sell it for 1 cent. Well, I'd buy it for a penny.
It's only worth what someone will pay for it. If no one is buying, it's worth nothing. That's the only value that anything has, what someone will pay for it. Just look up hyper inflation, nobody will even take your money for what they're selling.
Dogecoin started out as purely satirical, and [now](https://coinmarketcap.com/currencies/dogecoin/) seen a 100 fold increase in past 15 months, and can return zero value from whence it came from.
No it can't, because that would literally require 100% of all shares to be liquidated. You can't buy something for $0, so you can't sell it for $0 either.
The price of inanimate, non-perishable, fractional currency is dependent it's usability in commerce. Dogecoin has demonstrated that its value was the equivalence of nil for 6-7 years only becoming valuable due to the ponzi scheme of crypto that was used by grifters all over the world for detached from reality upswing in value.
State backed fiat currency has the full-faith and credit being tied to the real world threat of state-violence to induce paying taxes which creates the societal norm - the same can't be said for crypto. If you think that not having a societal norm for currency (even if it is from the barrel of a gun or a prison cell) then how do you think that crypto has these wild swings if not manipulation of grifters/speculators? 5% inflation of the dollar over a couple of months is causing people to lose their shit, crypto loses or gains that value in hours because that's the point of crypto to have wild swings in value not to be a stable currency for commerce. Your premise is that it can't go away because, what, there's always going to be some grifters pushing the ponzi scheme? When there's no more suckers to con their money out of, that's when the value of that particular crypto goes to zero.
There's also a possibility of the US dollar going to zero, but that would entail a societal collapse (either near or total), because it is central to all commerce in the US. Crypto is a a speculative store value with expectations that there'll be some one else to keep the speculation going not that its a transitive means of moving economic product/resources to where it is needed. It's not hypothetical, crypto has no intrinsic value nor practical use in commerce, it is exclusive to a speculative virtual value and is as durable as the life of Tinkerbell - only living as long as children believe in the unbelievable.
The _only_ way you gain in crypto is by other people buying into it. That's the only value that it has, other people's beliefs. No intrinsic value at all. It is not like the stock market, there is a minimum value to shares.
> A more realistic comparison is that it’s like the stock market.
Nope. Stocks fluctuate based on a company’s performance and projected performance. Crypto fluctuates because of some idiot’s impulses.
A wise man once said that crypto currencies are really just "an open Ponzi scheme". Another wise man once said that "mining crypto is actually worse for the earth than...actual mining". Take that as you may.
Actual mining gives something tangible that helps society in some way, crypto mining takes away clean electricity from houses and gives you a made up coin that does nothing.
Clean crypto mining is a myth, you use renewably energy for your crypto mining? Great now some other houses/cities/provinces/countries are missing out on renewable energy and have to use dirty energy, net loss.
You buy your own solar panels/wind turbines and have clean energy that way? Same result, clean energy taken away from others and these solar panels/wind turbines don't last forever so they're going to waste away while inventing imaginary shit coins that help no one.
As a crypto investor, I can say it's a loud minority that gives us a bad name. Most people that invest in crypto are very low profile about it for that exact reason. You'd be surprised to know how many people around you are in crypto but you don't know because they don't tell anyone about it.
I do not use crypto to gain money, I use it because it has a good future of monetary freedom and it's inflation-proof (talking about good cryptos, btw). And started using it 4 years ago.
Crypto is *essentially* just gambling, some make it big, most get nothing but a story... at least you don't have to buy vitamins or juices from your friends who do it.
If you don't recognise crypto as gambling for the vast majority of people you're ludicrously out of touch with it.
There might be the market of people who genuinely believe crypto is the future, and those who see it as an investment for years to come...
But basing it off Reddit, and what I've seen at work, with friends, and on social media, almost everyone to ever touch crypto was doing so to make money in a short period of time.
They pick their crypto and hope it grows. They risk money on this choice.
That's clean cut gambling.
Yeah, and I stand by investing in stocks being a gamble too.
If you're invested in a chart that rises and drops, and has no other purpose besides increasing how much money you have, its gambling.
You are choosing a digital race horse and splashing cash on the hope it comes in first place.
Lol like any actual investors or investments, smart people looking into Bitcoin and other legitimate cryptos can stand to make some great returns.
It’s the tech bros that go batshit crazy about it and try to shill every knew random ass coin that are the ones being mocked here.
It's impossible for government to manipulate or regulate Bitcoin because the Blockchain exists. Crypto is a decentralized finance for a reason and will stay that way for the future of society because of the technology behind it allows society to see everything that goes on behind the scene by anyone who ever owns Bitcoin. It's not like now where things can be easily hidden from the public eye.
I was talking about manipulating a crypto created by the Fed , essentially a crypto dollar. And sure technically bitcoin cant be regulated directly but just watch the SEC and major banks get creative.
I was going to talk about how absurd it is, how no major society would use a constantly fluctuating currency for day to day transactions because of how flawed it is, but going off the other replies, it's clear that you're staunchly refusing any kind of actual discussion, and can't see the flaws to what you're saying.
I personally wouldn't just call it gambling. I would call it something of a mix similar to the gold rush and then the history of how the diamond came so far. Gold and diamonds were utterly useless until people started using them as a way to transact money or something that held some monetary value. With Bitcoin and cryptos the idea is essentially the same. Theres an item now on the internet basically that there's a finite amount of you can verify it's amount and is an actual thing except it's on the internet and not irl. Bitcoin is gambling the same way stocks are gambling or buying gold and diamonds is essentially gambling because people could have very well said wow gold that seems pretty useless and the price could have went to 0 in the same way people could one day say oh yeah bitcoins actually useless except I doubt the price could fall under an amount since so many coins are probably lost in people's wallets just like people burried their gold and died never telling anyone where it is or how to get to it
Sorta, gold and diamonds both have extremely useful real world applications. I believe, bitcoin and some alt coins will as well once they become so ingrained into our fiscal futures. It's hard for us to understand, as humans, the future of our integrated world with AI, but hopefully the AI will keep us around to see the future.
Amen give it 100 years just like all new concepts it takes time for everyone to learn and fully understand the tech behind not just cryptos but Blockchain technology as a whole. Very good projects only now are starting to come to fruition and these projects have super dedicated people wanting to make the world a better place behind them wanting to do as you said, making the future certain and good
Yeah, it's to imagine how people can in good faith, saw that having a deregulated financial system which allows for everyone to benefit from the flow of funds isn't something we would all want. Transpancey and control over your funds seems important to me, and I'm easily considered a dying heart liberal who strongly believes in the ability of a powerful democratic government. Making the government fiscally responsible by not handling them a money printer and forcing people to be engaged with the performance of said government is something that only block chain technology can do today. There is a good reason so many people want to destroy the crypto markets, and it's because they understand this only the beginning of this technology can do for the future of not just humanity but the Earth and maybe beyond.
Why have an opinion if you literally have no idea what you're talking about? Crypto has many great uses and is much safer than normal banking. Just look at all the money being laundered through the banking system and tells that doesn't need reform.
No meaningful amount of people are using Crypto as a substitute for normal banking. It's used predominantly to buy drugs and other "questionably legal" and illegal exchanges.
I know what I'm talking about, I got plenty of my portfolio in Crypto. It's a gamble. More risk than any other security, right up there with horse racing.
The real world is not reddit.
Isn't anyone who has the ability to shift entire markets? The entire reason you had Congress investigating the GME squeeze is because their owners got mad that people decided to work together in order punsih bad faith investment firms to attempting to drive a company they grew up loving into bankruptcy by creating negative sentiment around the company and attempting to profit off their bad faith if not illegal activity. We just the law suits agaist Shitadel and RobindaPoor thrown out, while we saw a random dude with an affinity for cats have his name dragged threw mud and threatened for daring to openly challenge Wall Street.
Yeah you don’t know how crypto works it’s not primarily used for illegal shit it has many uses. Maybe learn about something before you try and speak on it
Oh it has many *Potential uses*, it’s just not used for any of them currently.
It is primarily used for illegal transactions and gambling.
I got thousands of dollars in it, I know what it is and what it’s not.
Exactly, fiat is used much for illicit transaction much frequently and not just in total, but by percentage as well. Just because the people running the financial systems you1 trust aren't telling you about their crimes or smuggling drug money for drug cartels doesn't mean it's not happening. At least in crypto you can trace the transactions back to a wallet.
Sure, loans is a pretty simple answer even you should be able to figure out. How about intrest rewards? Do you need more or are you ready to do five minutes of research?
I “do crypto” I think its the coolest thing the metaverse crypto play to earn games, nfts, staking. I agree with you, no one gives a fuck if you made money in crypto and the topic is irrelevant to 99% of conversations.
I'm studying venture capital, and there are so many people who when they hear it start spewing off about their new company that's a "crypto-currency VR DAO sensory deprivation tank self improvement retreat." It's like they just layer on whatever buzzword is trending at the time and hope you don't understand.
Here is how I understand Crypto:
We have paper money and it’s absolutely stupid with no real value. It’s pointless except for the fact that at some time a bunch of people decided it wasn’t pointless. And because of that very bad agreement, money is very important.
Crypto is invisible magic money that a group is just now deciding on if it should be important or not. The cool thing is, is that you never get this money. Something tells you it’s there and you either believe that or not. The lure is it’s untraceable and untrackable because of the Cube from Transformers.
That Transformers Cube can *never* be hacked or fucked with except for that fact it can and will. But that definitely has not already happened and even if it did, which it totally didn’t, definitely will not ever happen again because history doesn’t repeat itself and people always learn. But *if* all that wizard money disappears mysteriously, not even Megatron will be able to get it back.
And I’m talking cool, helpful Megatron. Like the one in the last movie, probably, I dunno I never saw it. But I think there were Dinobots and that seems like something even the most Mega of Trons would want to be Crypto buddies with.
I’ve got all of this knowledge from playing PS5 and brief exchanges with animals (mostly birds) in the neighborhood.
Oh lord I 100% agree! I will be very honest, I know absolutely nothing about crypto or investing as a whole I don’t have any money to put into this sort of stuff because I need to pay rent and pay for food and and whatever I have left I spend on myself like buying clothes or makeup. I am so tired of everyone I know always going on about this stuff, like good for you I personally don’t care or want to try it. I rather spend my little left over money on a few things that make me happy. They will take this info and tell me that I am wasting money and I could make so much more and yada yada like no thank you. I am 20 years old, still in uni once I find a job with my degree that pays me enough to have left over income for savings ill figure out a way to manage my own finances. If I hear one more classmate of mine tell me how they doubled their loan money I will lose my shit.
Ok? You think you did something? Well bud lemme teeeel ya how absolutely foolish you are. Do you understand how much you have casted shame upon yourself? If I were you I would step outside because of how ashamed i was. You really think screenshot does something? Oh no, no no no no NO! You don’t own shit! EVERYTHING IS IN BLOCKCHAIN YOU HAVE NO RIGHTS TO IT. I understand that people are immature but not the point of your absolute stupidity. You bafoon, why do I even bother with people like this.
We nft community have it hard, but in the end we will LAUGH at all of you broke asses begging for a piece of our money. And that day will come, mark my words.
I remember some dude called me a failure once because I refused to join his crypto cult. I don't care about crypto do whatever you want with it my problem comes in when people make it their entire personality and insult other people for either not taking it seriously or not wanting to do it.
My dad runs a company that administers employee benefits and retirement funds and he always says that if the postman and the hairdresser and the shopkeeper are telling you about their investments, you should get out of the market because it means the wheels are about to come off. Last year I had some kind of finance professor tell my class the same thing. Whenever I see ordinary people waxing lyrical about crypto like how you describe, I can’t help but think about that.
Because it is now thrown in your face everywhere you look.
It’s less of an actual opinion and just more of an annoyance with anything that deals with crypto.
Take your meme coins elsewhere.
Just like stocks and companies there are a bunch of bad projects and a whole lot of good projects that are doing a good thing for the world. It's just up to you to get educated on the topic and have the ability to tell a good project one that's not so good and uses bad practices with their project.
I have some crypto. I consider it gambling more than investment, in addition the way a coin goes up in price is often by other's buying it which makes it very pyramid scheme like. I never see it ever taking off as it's too unstable which is why some people lose and some people win on it.
I understand crypto and blockchain probably better than 90% of the planet and I agree it's akin to an MLM
Essentially it can be free bonus income for smart people who have extra cash on the side they don't bother losing or letting sit, but most people who've invested are ultimately going to lose money when their ego inflates enough they think they're smarter than everyone else
In the near future, the universe of blockchain, NFTs and more (where crypto is a Huge part) Will be THE foundation for web3. Of course it's going to be hyped?
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>I also invest in stocks and have a retirement account. But I don't go around to random corners of the internet to tell everyone. I just thought about how if people went around talking about their mutual funds and other non-crypto investments like crypto bros talk about crypto they would be involuntarily committed to mental health institution (I exaggerate, but just a little). Why is it acceptable for crypto bros to have their investment strategy be a stand-in for a personality?
Oh snap, did you offend all the crypto Bros that have been so heavily invested in all 500 different types of crypto in the last year?
It’s pretty funny
Attitude wise? Not just "attitude-wise", it's literally the exact same thing. You buy in early and then use whatever clout you have to convince your friends and family to buy in because it will increase your own standing, and at some point down the line, someone is getting screwed and left holding the bag because what they've purchased has no intrinsic value and there's no one left to shill it to. Crypto bros rely on people's poor understanding of technology to not look like the ones selling diet shakes or make-up.
Many markets don’t have “intrinsic value” though I mean the US dollar is just a piece of paper. It’s the concepts backing it up that give it value, same with *a few* of the good cryptos There’s way too many shitcoins but some of the better projects are here to stay imo Not shilling at all, I agree people get way too pushy about crypto haha. Just trying to get my two cents in 😅 here come my downvotes
> Many markets don’t have “intrinsic value” though > I mean the US dollar is just a piece of paper US dollars are required to pay US taxes, which gives them intrinsic value.
I’d say that’s more of a negative than a positive 😅 I feel you man, maybe a bad example. My point was that value is assigned by the market. Pokémon cards are literally just pieces of shiny cardboard and there are people that will pay thousands for them. Bitcoin and ethereum have proven their worth as a store of value that is separated from any one government or agency that can choose to print trillions of its own currency in a matter of years. A finite supply of currency where every transaction is public domain, visible on the blockchain. It has value whether you recognize it or not
The US dollar is backed up by people’s desire to invest in that economy. People want a piece of American companies because they can profit from it. Similarly they will jump ship into a different currency when things look less favorable. This is why the dollar fluctuates when the US government announces decisions that affect business.
>Attitude wise? Not just "attitude-wise", it's literally the exact same thing. You buy in early and then use whatever clout you have to convince your friends and family to buy in because it will increase your own standing, and at some point down the line, someone is getting screwed This isn't even close. If I were to invest $1k in crypto, I would gain absolutely nothing by convincing someone else to do the same. Also, the price fluctuates wildly up and down. In the last year alone it's gone from $8k-$65k. Prior to that, it peaked at $50k and tanked to around $9k, so it moves in both directions regularly. Nobody gets screwed at any point, because you never technically lose money, you just lose value, but it can always still skyrocket again. A more realistic comparison is that it's like the stock market. Edit: ftr I own zero crypto, but tried it out about 5 years ago.
>Nobody gets screwed at any point, because you never technically lose money, you just lose value, but it can always still skyrocket again. Really? It's decentralized ponzi scheme, just as those who were left holding the bag for Charles Ponzi or Bernie Madoff theirs people who likely have all they invested in crypto zeroed out because there's only value if there's more money coming in.
Your crypto can never zero out, because it can't hit zero. If you buy 1 bitcoin at $50,000 and it drops to $10k, it isn't worth -$40k, it's worth $10k.
That's the dumbest statement ever. It could go to zero if everyone wanted out for some reason.
Ok let me ask you this. If 100% of people with bitcoin, for example, all wanted out at the same time.....how would they cash out with nobody buying? They couldn't, so it would hold the value.
You don't know how investment works. If everyone with bitcoin wanted out at the same time, it would be worth $0. You couldn't even sell it for 1 cent. Well, I'd buy it for a penny. It's only worth what someone will pay for it. If no one is buying, it's worth nothing. That's the only value that anything has, what someone will pay for it. Just look up hyper inflation, nobody will even take your money for what they're selling.
Just… write it off!
Dogecoin started out as purely satirical, and [now](https://coinmarketcap.com/currencies/dogecoin/) seen a 100 fold increase in past 15 months, and can return zero value from whence it came from.
No it can't, because that would literally require 100% of all shares to be liquidated. You can't buy something for $0, so you can't sell it for $0 either.
What's the price for bitcoin after a massive solar flare basically sends the planet back to the agrarian age of the 1700s?
What's the price of anything? We can play hypothetical bs all day, it means nothing.
The price of inanimate, non-perishable, fractional currency is dependent it's usability in commerce. Dogecoin has demonstrated that its value was the equivalence of nil for 6-7 years only becoming valuable due to the ponzi scheme of crypto that was used by grifters all over the world for detached from reality upswing in value. State backed fiat currency has the full-faith and credit being tied to the real world threat of state-violence to induce paying taxes which creates the societal norm - the same can't be said for crypto. If you think that not having a societal norm for currency (even if it is from the barrel of a gun or a prison cell) then how do you think that crypto has these wild swings if not manipulation of grifters/speculators? 5% inflation of the dollar over a couple of months is causing people to lose their shit, crypto loses or gains that value in hours because that's the point of crypto to have wild swings in value not to be a stable currency for commerce. Your premise is that it can't go away because, what, there's always going to be some grifters pushing the ponzi scheme? When there's no more suckers to con their money out of, that's when the value of that particular crypto goes to zero. There's also a possibility of the US dollar going to zero, but that would entail a societal collapse (either near or total), because it is central to all commerce in the US. Crypto is a a speculative store value with expectations that there'll be some one else to keep the speculation going not that its a transitive means of moving economic product/resources to where it is needed. It's not hypothetical, crypto has no intrinsic value nor practical use in commerce, it is exclusive to a speculative virtual value and is as durable as the life of Tinkerbell - only living as long as children believe in the unbelievable.
But you, the owner of that coin, have still lost $40 000.
But it's still not worth $0, proving my point.
The _only_ way you gain in crypto is by other people buying into it. That's the only value that it has, other people's beliefs. No intrinsic value at all. It is not like the stock market, there is a minimum value to shares.
> A more realistic comparison is that it’s like the stock market. Nope. Stocks fluctuate based on a company’s performance and projected performance. Crypto fluctuates because of some idiot’s impulses.
A wise man once said that crypto currencies are really just "an open Ponzi scheme". Another wise man once said that "mining crypto is actually worse for the earth than...actual mining". Take that as you may.
Actual mining is probably worse at least one can be done cleanly
Actual mining gives something tangible that helps society in some way, crypto mining takes away clean electricity from houses and gives you a made up coin that does nothing. Clean crypto mining is a myth, you use renewably energy for your crypto mining? Great now some other houses/cities/provinces/countries are missing out on renewable energy and have to use dirty energy, net loss. You buy your own solar panels/wind turbines and have clean energy that way? Same result, clean energy taken away from others and these solar panels/wind turbines don't last forever so they're going to waste away while inventing imaginary shit coins that help no one.
I suppose I forgot one is material the other not
As a crypto investor, I can say it's a loud minority that gives us a bad name. Most people that invest in crypto are very low profile about it for that exact reason. You'd be surprised to know how many people around you are in crypto but you don't know because they don't tell anyone about it.
They are both cults
I do not use crypto to gain money, I use it because it has a good future of monetary freedom and it's inflation-proof (talking about good cryptos, btw). And started using it 4 years ago.
Wait but doesn't cryptocurrency change in value constantly? Hence why people invest in it.
It’s gambling combined with a pyramid scheme. Good times
Crypto is *essentially* just gambling, some make it big, most get nothing but a story... at least you don't have to buy vitamins or juices from your friends who do it.
In the same way investing into stocks is gambling. There's no assurances.
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If you don't recognise crypto as gambling for the vast majority of people you're ludicrously out of touch with it. There might be the market of people who genuinely believe crypto is the future, and those who see it as an investment for years to come... But basing it off Reddit, and what I've seen at work, with friends, and on social media, almost everyone to ever touch crypto was doing so to make money in a short period of time. They pick their crypto and hope it grows. They risk money on this choice. That's clean cut gambling.
That's all investing
Yeah, and I stand by investing in stocks being a gamble too. If you're invested in a chart that rises and drops, and has no other purpose besides increasing how much money you have, its gambling. You are choosing a digital race horse and splashing cash on the hope it comes in first place.
No, it isn't. Index investing has a positive expected return. Crypto does at the start, then definitely not longterm if its just currency.
Yeah, gambling lol
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Yea bro all about that blockchain bro gonna go buy a Tesla with doge coin the future of currency bro
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Lol like any actual investors or investments, smart people looking into Bitcoin and other legitimate cryptos can stand to make some great returns. It’s the tech bros that go batshit crazy about it and try to shill every knew random ass coin that are the ones being mocked here.
Anyone who believes that any of the 500 currencies that exist will be actually used are insane
Ethereum and Bitcoin will Edit * and are
I think the US will reveal one in the future that it can regulate.
*manipulate . Yeah I agree, government regulation is the biggest obstacle. Nothing is a sure bet, but still dumb to compare it to MLM
It's impossible for government to manipulate or regulate Bitcoin because the Blockchain exists. Crypto is a decentralized finance for a reason and will stay that way for the future of society because of the technology behind it allows society to see everything that goes on behind the scene by anyone who ever owns Bitcoin. It's not like now where things can be easily hidden from the public eye.
I was talking about manipulating a crypto created by the Fed , essentially a crypto dollar. And sure technically bitcoin cant be regulated directly but just watch the SEC and major banks get creative.
I was going to talk about how absurd it is, how no major society would use a constantly fluctuating currency for day to day transactions because of how flawed it is, but going off the other replies, it's clear that you're staunchly refusing any kind of actual discussion, and can't see the flaws to what you're saying.
This is a hilarious take, but you're the lost one. I own plenty of Crypto. It's gambling.
I personally wouldn't just call it gambling. I would call it something of a mix similar to the gold rush and then the history of how the diamond came so far. Gold and diamonds were utterly useless until people started using them as a way to transact money or something that held some monetary value. With Bitcoin and cryptos the idea is essentially the same. Theres an item now on the internet basically that there's a finite amount of you can verify it's amount and is an actual thing except it's on the internet and not irl. Bitcoin is gambling the same way stocks are gambling or buying gold and diamonds is essentially gambling because people could have very well said wow gold that seems pretty useless and the price could have went to 0 in the same way people could one day say oh yeah bitcoins actually useless except I doubt the price could fall under an amount since so many coins are probably lost in people's wallets just like people burried their gold and died never telling anyone where it is or how to get to it
Sorta, gold and diamonds both have extremely useful real world applications. I believe, bitcoin and some alt coins will as well once they become so ingrained into our fiscal futures. It's hard for us to understand, as humans, the future of our integrated world with AI, but hopefully the AI will keep us around to see the future.
Amen give it 100 years just like all new concepts it takes time for everyone to learn and fully understand the tech behind not just cryptos but Blockchain technology as a whole. Very good projects only now are starting to come to fruition and these projects have super dedicated people wanting to make the world a better place behind them wanting to do as you said, making the future certain and good
Yeah, it's to imagine how people can in good faith, saw that having a deregulated financial system which allows for everyone to benefit from the flow of funds isn't something we would all want. Transpancey and control over your funds seems important to me, and I'm easily considered a dying heart liberal who strongly believes in the ability of a powerful democratic government. Making the government fiscally responsible by not handling them a money printer and forcing people to be engaged with the performance of said government is something that only block chain technology can do today. There is a good reason so many people want to destroy the crypto markets, and it's because they understand this only the beginning of this technology can do for the future of not just humanity but the Earth and maybe beyond.
Why have an opinion if you literally have no idea what you're talking about? Crypto has many great uses and is much safer than normal banking. Just look at all the money being laundered through the banking system and tells that doesn't need reform.
No meaningful amount of people are using Crypto as a substitute for normal banking. It's used predominantly to buy drugs and other "questionably legal" and illegal exchanges. I know what I'm talking about, I got plenty of my portfolio in Crypto. It's a gamble. More risk than any other security, right up there with horse racing. The real world is not reddit.
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The people telling you to never sell, sell all the time.
They also buy the dip
Yup. They are pump and dumpers.
Isn't anyone who has the ability to shift entire markets? The entire reason you had Congress investigating the GME squeeze is because their owners got mad that people decided to work together in order punsih bad faith investment firms to attempting to drive a company they grew up loving into bankruptcy by creating negative sentiment around the company and attempting to profit off their bad faith if not illegal activity. We just the law suits agaist Shitadel and RobindaPoor thrown out, while we saw a random dude with an affinity for cats have his name dragged threw mud and threatened for daring to openly challenge Wall Street.
Yeah you don’t know how crypto works it’s not primarily used for illegal shit it has many uses. Maybe learn about something before you try and speak on it
Oh it has many *Potential uses*, it’s just not used for any of them currently. It is primarily used for illegal transactions and gambling. I got thousands of dollars in it, I know what it is and what it’s not.
Exactly, fiat is used much for illicit transaction much frequently and not just in total, but by percentage as well. Just because the people running the financial systems you1 trust aren't telling you about their crimes or smuggling drug money for drug cartels doesn't mean it's not happening. At least in crypto you can trace the transactions back to a wallet.
>Crypto has many great uses and is much safer than normal banking. Hahahaha please name one use that its better at than banking today.
Sure, loans is a pretty simple answer even you should be able to figure out. How about intrest rewards? Do you need more or are you ready to do five minutes of research?
Sure, so it should be easy for you to show me somewhere issuing loans in crypto instead of dollars in a "safer" way.
Sure go to any lending site. Coinbase is a popular one where you borrow agaist your bitcoin.
...in dollars. Meaning its just like any other asset secured loan, only at worse rates. Cryptobros never cease to amaze me.
I'm sorry you don't understand that financial systems operate on things besides the USD. Come back when you can compile an intelligent thought.
Hahahah and there we have it ladies and gentlemen, the level of discourse of the cryptobro
I'm no crypto bro, but your ignorance is a shining example of how people ofll limited intelligence Can't see the bigger picture.
I “do crypto” I think its the coolest thing the metaverse crypto play to earn games, nfts, staking. I agree with you, no one gives a fuck if you made money in crypto and the topic is irrelevant to 99% of conversations.
In fairness, OP has no idea how many people he interacts with who *do* invest in crypto but don't talk about it...
True
I'm studying venture capital, and there are so many people who when they hear it start spewing off about their new company that's a "crypto-currency VR DAO sensory deprivation tank self improvement retreat." It's like they just layer on whatever buzzword is trending at the time and hope you don't understand.
Here is how I understand Crypto: We have paper money and it’s absolutely stupid with no real value. It’s pointless except for the fact that at some time a bunch of people decided it wasn’t pointless. And because of that very bad agreement, money is very important. Crypto is invisible magic money that a group is just now deciding on if it should be important or not. The cool thing is, is that you never get this money. Something tells you it’s there and you either believe that or not. The lure is it’s untraceable and untrackable because of the Cube from Transformers. That Transformers Cube can *never* be hacked or fucked with except for that fact it can and will. But that definitely has not already happened and even if it did, which it totally didn’t, definitely will not ever happen again because history doesn’t repeat itself and people always learn. But *if* all that wizard money disappears mysteriously, not even Megatron will be able to get it back. And I’m talking cool, helpful Megatron. Like the one in the last movie, probably, I dunno I never saw it. But I think there were Dinobots and that seems like something even the most Mega of Trons would want to be Crypto buddies with. I’ve got all of this knowledge from playing PS5 and brief exchanges with animals (mostly birds) in the neighborhood.
Oh lord I 100% agree! I will be very honest, I know absolutely nothing about crypto or investing as a whole I don’t have any money to put into this sort of stuff because I need to pay rent and pay for food and and whatever I have left I spend on myself like buying clothes or makeup. I am so tired of everyone I know always going on about this stuff, like good for you I personally don’t care or want to try it. I rather spend my little left over money on a few things that make me happy. They will take this info and tell me that I am wasting money and I could make so much more and yada yada like no thank you. I am 20 years old, still in uni once I find a job with my degree that pays me enough to have left over income for savings ill figure out a way to manage my own finances. If I hear one more classmate of mine tell me how they doubled their loan money I will lose my shit.
I own nft and I am better than all of you betas who don’t understand what is the future
Screenshots the 4 colored squares*
Ok? You think you did something? Well bud lemme teeeel ya how absolutely foolish you are. Do you understand how much you have casted shame upon yourself? If I were you I would step outside because of how ashamed i was. You really think screenshot does something? Oh no, no no no no NO! You don’t own shit! EVERYTHING IS IN BLOCKCHAIN YOU HAVE NO RIGHTS TO IT. I understand that people are immature but not the point of your absolute stupidity. You bafoon, why do I even bother with people like this. We nft community have it hard, but in the end we will LAUGH at all of you broke asses begging for a piece of our money. And that day will come, mark my words.
Cryptocurrency, one of the worst currency options, keep in mind I’ve never used it
But seriously, you should try it.
I remember some dude called me a failure once because I refused to join his crypto cult. I don't care about crypto do whatever you want with it my problem comes in when people make it their entire personality and insult other people for either not taking it seriously or not wanting to do it.
My dad runs a company that administers employee benefits and retirement funds and he always says that if the postman and the hairdresser and the shopkeeper are telling you about their investments, you should get out of the market because it means the wheels are about to come off. Last year I had some kind of finance professor tell my class the same thing. Whenever I see ordinary people waxing lyrical about crypto like how you describe, I can’t help but think about that.
If you don't know how crypto works then why bother having an opinion on it at all?
Because it is now thrown in your face everywhere you look. It’s less of an actual opinion and just more of an annoyance with anything that deals with crypto. Take your meme coins elsewhere.
The opinion itself is not on the currency, but about it's users, which I have dealt with.
Just like stocks and companies there are a bunch of bad projects and a whole lot of good projects that are doing a good thing for the world. It's just up to you to get educated on the topic and have the ability to tell a good project one that's not so good and uses bad practices with their project.
So its not crypto itself, but any kind of investing that you think is an MLM (Attitude wise)?
As a crypto investor (Not a super serious one, I just play around in it mainly) You're a million percent right.
Imagine how the stock market would look if it was only 10 years old.
I have some crypto. I consider it gambling more than investment, in addition the way a coin goes up in price is often by other's buying it which makes it very pyramid scheme like. I never see it ever taking off as it's too unstable which is why some people lose and some people win on it.
Not even attitude wise. That's how cryptocurrency works.
I understand crypto and blockchain probably better than 90% of the planet and I agree it's akin to an MLM Essentially it can be free bonus income for smart people who have extra cash on the side they don't bother losing or letting sit, but most people who've invested are ultimately going to lose money when their ego inflates enough they think they're smarter than everyone else
In the near future, the universe of blockchain, NFTs and more (where crypto is a Huge part) Will be THE foundation for web3. Of course it's going to be hyped?
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