Select Page
Poker Forum
Over 1,261,000 Posts!
Poker ForumFTR Community

Cryptocurrencies

Results 1 to 62 of 62
  1. #1
    Jack Sawyer's Avatar
    Join Date
    Jan 2007
    Posts
    7,028
    Location
    Jack-high straight flush motherfucker

    Default Cryptocurrencies

    Bitcoin, ethereum, litecon et. al.

    Here, I'll start

    [quote]Bitcoin is probably closer to gold than dollars. Why is gold worth >$1K per ounce? Don't say industrial uses or jewelry. Those applications are utterly dwarfed by the amount of gold just sitting around in bricks to hold value. People buy gold to store value which makes gold a good store of value which leads people to buy gold to store value, etc, etc.[quote]
    My dream... is to fly... over the rainbow... so high...


    Cogito ergo sum

    VHS is like a book? and a book is like a stack of kindles.
    Hey, I'm in a movie!
    https://www.youtube.com/watch?v=fYdwe3ArFWA
  2. #2
    MadMojoMonkey's Avatar
    Join Date
    Apr 2012
    Posts
    7,262
    Location
    St Louis, MO
    All value is perception.
    The value of any currency is merely what someone has convinced us and what we can convince other people it's worth.
  3. #3
    Jack Sawyer's Avatar
    Join Date
    Jan 2007
    Posts
    7,028
    Location
    Jack-high straight flush motherfucker
    Yes, but I wonder, what does give it value? As it is, it's impossible to actually do financial transactions with this due to its current volatility, so it's more like a cold storage of wealth?

    What will it take to replace the dollar?

    25% rise in 48 hours
    https://arstechnica.com/tech-policy/...e-in-48-hours/
    My dream... is to fly... over the rainbow... so high...


    Cogito ergo sum

    VHS is like a book? and a book is like a stack of kindles.
    Hey, I'm in a movie!
    https://www.youtube.com/watch?v=fYdwe3ArFWA
  4. #4
    CoccoBill's Avatar
    Join Date
    May 2007
    Posts
    1,450
    Location
    Finding my game
    What will it take to replace the dollar?
    Trust. Russia seems to have some: http://money.cnn.com/2017/11/07/tech...arm/index.html
    Our brains have just one scale, and we resize our experiences to fit.

    You wake me up early in the morning to tell me that I'm right? Please wait until I'm wrong.

  5. #5
    CoccoBill's Avatar
    Join Date
    May 2007
    Posts
    1,450
    Location
    Finding my game
    Our brains have just one scale, and we resize our experiences to fit.

    You wake me up early in the morning to tell me that I'm right? Please wait until I'm wrong.

  6. #6
    Bitcoin is not in a bubble. The data used to show it's in a bubble actually shows that it is not.

    Additional information on this: http://www.themoneyillusion.com/?p=32738
  7. #7
    Correction: it isn't that the data shows it is not in a bubble, but that the data shows that the previous bubble predictions (the ones that have since been tested) were wrong.
  8. #8
    spoonitnow's Avatar
    Join Date
    Sep 2005
    Posts
    14,368
    Location
    North Carolina
    lol shitcoin
  9. #9
    Luco's Avatar
    Join Date
    Mar 2009
    Posts
    5,411
    I bought some bitcoin back in 2013, since then it's value has increased 19-fold. Kinda makes me wish I'd bought more than $20 worth but c'est la vie
    Congratulations, you've won your dick's weight in sweets! Decode the message in the above post to find out how to claim your tic-tac
  10. #10
    MadMojoMonkey's Avatar
    Join Date
    Apr 2012
    Posts
    7,262
    Location
    St Louis, MO
    Can you liquidate that value?

    People talk about bitcoin like it has no real value. As someone who owns bitcoins, can you use them to purchase anything? or can you sell your bitcoins for real monies?
  11. #11
    spoonitnow's Avatar
    Join Date
    Sep 2005
    Posts
    14,368
    Location
    North Carolina
    Quote Originally Posted by MadMojoMonkey View Post
    Can you liquidate that value?

    People talk about bitcoin like it has no real value. As someone who owns bitcoins, can you use them to purchase anything? or can you sell your bitcoins for real monies?
    Yes and yes.
  12. #12
    Luco's Avatar
    Join Date
    Mar 2009
    Posts
    5,411
    Quote Originally Posted by MadMojoMonkey View Post
    Can you liquidate that value?

    People talk about bitcoin like it has no real value. As someone who owns bitcoins, can you use them to purchase anything? or can you sell your bitcoins for real monies?
    A BTC wallet is a lot like a poker site wallet and I'll be cashing mine out before xmas.

    There are plenty of businesses (and private sellers) that accept BTC in payment for goods and services, but I'd rather turn it into ~$350 cash and go from there.

    The crazy inflation this year is sure to bottom out at some point, but as long as it stays above $1k per coin then it's still a good year for any pre 2017 investor
    Congratulations, you've won your dick's weight in sweets! Decode the message in the above post to find out how to claim your tic-tac
  13. #13
    Luco's Avatar
    Join Date
    Mar 2009
    Posts
    5,411
    Also, if I had bought $20 of litecoin instead of bitcoin back in 2013 I'd have about $2,000 right now instead of $380 or so. I'll not dwell on it though - I'm still doing better than pizza guy
    Congratulations, you've won your dick's weight in sweets! Decode the message in the above post to find out how to claim your tic-tac
  14. #14
    Quote Originally Posted by Luco View Post
    Also, if I had bought $20 of litecoin instead of bitcoin back in 2013 I'd have about $2,000 right now instead of $380 or so. I'll not dwell on it though - I'm still doing better than pizza guy
    Yeah it's annoying, I really wish I'd have invested in apple in 2004.
  15. #15
    Luco's Avatar
    Join Date
    Mar 2009
    Posts
    5,411
    Quote Originally Posted by Savy View Post
    Yeah it's annoying, I really wish I'd have invested in apple in 2004.
    Which brings us nicely on to Ron Wayne, the original pizza guy. Sold his 10% stake in apple for $800 in the 70s, a stake that would put him in the forbes top 10 today
    Congratulations, you've won your dick's weight in sweets! Decode the message in the above post to find out how to claim your tic-tac
  16. #16
    OngBonga's Avatar
    Join Date
    Jul 2010
    Posts
    16,451
    Location
    England
    I know someone who sold a Banksy for a couple hundred quid.

    He pretends he doesn't dwell on it too.
    Quote Originally Posted by wufwugy View Post
    ongies gonna ong
  17. #17
    The price of bitcoin can hit 100k or 1m or 100m. It could also drop to 1k and stay thereabouts. Price changes in the past tell us nothing about how the price might change in the future.
  18. #18
    One element of the best investment strategy is to hold your assets for a long, long, very long time*. If I bought bitcoin cheaply a while back, I would plan on holding it for decades. I would not consider selling based on price movement because price movement tells us nothing.** I would, however, consider selling (or buying more) based on some learned information about the asset itself.


    *Risk associated with investment essentially breaks down into two different types: specific and market. Specific risk is the risk you take on by investing in individual firms; if you invest in one firm and it goes down, your portfolio goes down. Market risk is the risk you take on by investing itself; your portfolio only goes down if the market goes down. Financial and economic theory teaches that specific risk can be wholly eliminated by diversification. The math backs that up. Market risk cannot be eliminated. However, and this is a big however, market risk can be *adjusted* for enough that for all intents and purposes, it is eliminated. This is done by holding all your diversified assets for a very long time. Then, recessions and bear markets no longer threaten you. Only something like alien invasion (where the market would collapse near entirely) threaten you.


    ** Look up "random walk" and efficient market hypothesis. Pretty much the only theory on this taught in my classes says that a price change doesn't tell us how the price will change in the future, but it's an information change that changes prices. Economics is *supposed to* teach the idea "don't reason from a price change," but lately a lot of economists reason from a price change, and it is very common among others. But let me tell you, don't reason from a price change. Lots of inflation today doesn't mean less inflation tomorrow. That is different than saying that lots of inflation today could lead to less inflation tomorrow because of policy or investment responses adopted because of the lots of inflation today, but that's reasoning from an information change, which is fine. And you would want to identify the information change first before altering your investment.

    I basically say all that to say that we don't know what is going to happen to bitcoin, and the price of bitcoin doesn't tell us what will happen to bitcoin. To get an idea about what is likely to happen with bitcoin, you'd have to learn a lot about bitcoin.
  19. #19
    As nice as it would be to get lucky with something like having bought a bunch of bitcoin or apple cheaply years ago, it's not like standard, non-luck based investment doesn't also get you rich. Something like dollar-cost averaging* into mutual funds will make you rich. It will just take a few decades. And it takes restraint and a minimum quality of knowledge/belief in the time-value of money.

    *Select an interval and a fixed sum, and invest the sum each time the interval comes around regardless of market activity. Over the long haul, your return will be the market return (about 6%).
  20. #20
    ^Compounded and yearly. So a solid strategy adopted early in life can yield very huge retirement riches.
  21. #21
    Another way of looking at it is that when you trade stocks, you are essentially saying "I have more/better information than anybody and everybody else such that I can safely say the stock is wrongly valued." And everybody else who trades engages the same thing. You can see how this means it is near impossible to actually have more/better information than others consistently. This is because the stock price already adjusts for publicly and privately held information. But it CAN happen, and that's essentially if you have an interpretation advantage regarding the available information. The types of situations in which we have likely seen it happen is like with Warren Buffet, where his information advantage comes from applying analytical expertise to various companies and identifying ones he thinks are undervalued and then buying and holding for a very long time.

    Essentially, the only way to "beat the market" is to understand what is going on with firms themselves better than anybody else.
  22. #22
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    What was the last purchase with any of these coins? No one's buying toilette paper with HashGrab.
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  23. #23
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    Anyone hold any of these coins? I know its untoward to ask about another's finances because we all must keep up appearances, but I'm going to swing for the fences here and guess no.
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  24. #24
    A friend of mine and a group of his friends fairly recently put quite a bit of money together to buy a computer to start mining them, I lol'd when I saw it had plummeted.
  25. #25
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    It's money that no one uses as actual money outside of dark-drug deals. It's money that becomes more money tomorrow because people yesterday thought it should be and now they want in. It doesn't make a smack of sense.
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  26. #26
    Quote Originally Posted by a500lbgorilla View Post
    It's money that no one uses as actual money outside of dark-drug deals. It's money that becomes more money tomorrow because people yesterday thought it should be. It doesn't make a smack of sense.
    You can quite easily swap it for money. You can also buy lots of things online, that aren't drugs, with it.

    Obviously you'd rather have $5 than $5 worth of bitcoin but some people have made a nice bit of money out of not really doing anything and now I imagine a lot more will have lost a lot more as a result.
  27. #27
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    Is anyone swapping it for anything other than money?
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  28. #28
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    If I wait 14 hours, my 4 bitcoin purchase may drop to .03 or it may jump to 30.
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  29. #29
    OngBonga's Avatar
    Join Date
    Jul 2010
    Posts
    16,451
    Location
    England
    And after x amount of years saying "it's just a bubble it's a crazy investment it's a bubble blah blah" these people are now going "told you so told you so" because it lost a third in a week or something, while forgetting to mention it's still worth an imperial fuckton more than it was a year ago.

    Imagine if I invested 5k in it last christmas and cashed out today. I'd get a measly 70k ish, as opposed 100k ish if only I cashed out last week. Damn, I wish I earned like 60 fucking quid at 1.5% at a nice risk free bank.
    Quote Originally Posted by wufwugy View Post
    ongies gonna ong
  30. #30
    Quote Originally Posted by OngBonga View Post
    And after x amount of years saying "it's just a bubble it's a crazy investment it's a bubble blah blah" these people are now going "told you so told you so" because it lost a third in a week or something, while forgetting to mention it's still worth an imperial fuckton more than it was a year ago.

    Imagine if I invested 5k in it last christmas and cashed out today. I'd get a measly 70k ish, as opposed 100k ish if only I cashed out last week. Damn, I wish I earned like 60 fucking quid at 1.5% at a nice risk free bank.
    But you're missing the fact that it wasn't until it shot up in value a shit load that people were starting to talk about it again.

    Everyone is a fucking fish who is so far behind knowing what's going on that it's pathetic and literally no one gains anything from these conversations. It's just people chatting shit and picking time frames to make their argument gain legitimacy.

    The sad thing is how people who don't have much always fall for the shit get rich quick schemes.
  31. #31
    People are fish and also the bubble hypothesis is bollocks.

    If you're thinking of investing in it, learn about it, don't worry about price changes, worry about the facts on the ground.
  32. #32
    The price derives from the facts (and what people believe are the facts), not vice versa. The facts don't derive from the price (unless you can find that the price changes the facts, which probably only happens in the teeniest tiniest ways then quickly corrects for the silliness).
  33. #33
    Quote Originally Posted by wufwugy View Post
    People are fish and also the bubble hypothesis is bollocks.

    If you're thinking of investing in it, learn about it, don't worry about price changes, worry about the facts on the ground.
    Why is the bubble hypothesis bollocks?

    In terms of what you've said the point when the average laymen thinks it's a good idea to invest and therefore the stock is above the value that it actually should be so therefore bursts makes sense.
  34. #34
    Per Scott Sumner, the bubble hypothesis is bollocks because it is not useful. His main point on it is that it contains no predictive power. This means that even if a bubble happens, nobody notices (reliably) and the circumstances don't provide a predictive model in retrospect. I go a little further to say that it is a contradiction of ideas. Something being a bubble means that it doesn't reflect the "true" value of the something. The problem with this is that the market value is the true value, at least as closely as any "true" value exists. Prices of everything, even the most useful things like oil, depend entirely on what people think the value should be. I know of no theory that claims to differentiate market value from "true" value.

    There are uncountable examples of people claiming things are bubbles, and the claims are correct no greater than random.

    A better explanation exists and I wish I could provide it, but I can't. As far as I can tell, the legitimacy the bubble hypothesis gains among economists emerges from Keynes' "animal spirits", where people get caught up in hallucinations of sorts and a price can be bid up because a price is bid up. I do not find this convincing due to theories developed since Keynes' time: the efficient market hypothesis and rational expectations. These tell us that the market price adjusts to all information and that agents' current actions account for expectation of the future. This means that if Keynes' animal spirits were engaged -- meaning that people bid up the price because the price is being bid up -- then it means that other investors would put negative pressure on the price since the desire to bid up the price because the price is being bid up means the price is probably being bid up too much.

    Regarding real world examples, the bubble hypothesis fails miserably. Personally, it's because I used to believe in bubble claims that I no longer do. Back in the 00's, they said China was in a bubble and will pop soon. And I was like okay that makes sense. But it never popped and the bubble-mongers just kept pushing the date back. Having come from a religion that did that shit, I wasn't fooled by that nonsense. On top of that, the appearance of bubbles makes perfect sense even if bubbles aren't real. For example, if a recession hits, would you expect each sector of the economy to fall equally? No. Parts of the economy fall faster in a recession than others, and those parts are always claimed to be bubbles in retrospect. Making that sort of claim is no way to brain.
  35. #35
    I wonder if it could be that if people are not worried about bubbles then they can happen, and if people are worried about bubbles then they don't happen. People really, really do not like losing money. Any possible way to spot a bubble, short that shit. Which means it won't bubble. But if nobody thinks bubbles are a thing, then maybe investors get lazy and base their investment decisions solely on the investment decisions of other investors. Then you could get the Keynesian animal spirits.
  36. #36
    Whilst I appreciate the point that the hypothesis is somewhat pointless as it doesn't give tangible results I don't think that this means the phenomenon doesn't exist. IT's just poorly understood. I could accept it doesn't exist if you provided a better reason for the phenomenon we observe.

    What you seem to be saying is that's it's a poorly understood and badly applied reason. That more boils down to people being fish though and not understanding markets.

    The bit you say about markets reacting almost instantly and understanding all sides makes no sense to me. People thinking that they can up sell to others to the point that it no longer is viable makes a huge amount more sense to me and I don't see why this wouldn't exist in reality.

    It's like if you drop something the reason it drops is because of gravity but if you didn't know that you could come up with all sorts of weird nonsense shit to explain that phenomenon. Although it'd all be shades of wrong it doesn't mean that it doesn't happen.
  37. #37
    I think what's going on is that true value is unknown. I mean, the value of oil and gold is fucking zero if some new mega virus kills off 99% of the population. What are the true values of oil and gold? There is not truer value than the market value.

    This means that the value of something depends on what others value it (definition of market value). So then a bubble could happen if investors wrongly interpret what others value something as, since that means the value would come down later when the real world results simply don't happen.

    Eh I'm gonna stop here. This is something nobody has fully figured out. It rubs the wrong way. Its total lack of usefulness rubs the wrong way.
  38. #38
    I remember when 1 Bitcoin was $1... I also believe Bitcoin fell to 30 cent for 1 bitcoin when it first was released. Sheesh, imagine the possibilities.

    Food and water will be worth more than anything within 30 years, mark it down
  39. #39
    I did read that chocolate will be extinct by 2050 due to climate change.

    As if valentines day isn't expensive enough...
  40. #40
    spoonitnow's Avatar
    Join Date
    Sep 2005
    Posts
    14,368
    Location
    North Carolina
    Cuckcoin down again

    lol #shitcoin
  41. #41
    CoccoBill's Avatar
    Join Date
    May 2007
    Posts
    1,450
    Location
    Finding my game
    https://www.sciencedirect.com/scienc...04393217301666

    The actual article is paywalled but it's not like any of yous would read it anyway.
    Last edited by CoccoBill; 01-17-2018 at 03:19 AM.
    Our brains have just one scale, and we resize our experiences to fit.

    You wake me up early in the morning to tell me that I'm right? Please wait until I'm wrong.

  42. #42
    spoonitnow's Avatar
    Join Date
    Sep 2005
    Posts
    14,368
    Location
    North Carolina
    National Suicide Prevention Lifeline
    Call 1-800-273-8255
  43. #43
    Quote Originally Posted by CoccoBill View Post
    https://www.sciencedirect.com/scienc...04393217301666

    The actual article is paywalled but it's not like any of yous would read it anyway.
    Reading the paper is always such a good idea.

    Example: I talked a bit with my prof about the idea of bubbles. I hold the market monetarist/Chicago school view that asset price bubbles are not "real". He holds the Keynesian view that they are. He referenced a game theory paper that found bubbles in experimentation. I read it, and while good, the methodology of the experiment shows problems that could allow for the illusion of bubbles even if bubbles aren't "real".
  44. #44
    STILL_mkd's Avatar
    Join Date
    Jun 2011
    Posts
    360
    Location
    Macedonia
    I think that Altcoin, IOTA, NEM and alef are best for buying this year.
  45. #45
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    Grunch.

    Crypto's value is based on the possibility that it will be adopted as an actual currency in the future.

    The number of people trying to make it a real money vrs those just riding the high is 1:1000.

    The current value of any coin is based on human psychology. Everyone in the market needs more people in the market. They can't bank winnings until losers show up to buy. And they only become winners when they can find new, fresh losers.

    If anycoin has a future, it needs zealots and believers. What it has are mostly fools.
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  46. #46
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    Quote Originally Posted by hlester25 View Post
    I remember when 1 Bitcoin was $1... I also believe Bitcoin fell to 30 cent for 1 bitcoin when it first was released. Sheesh, imagine the possibilities.

    Food and water will be worth more than anything within 30 years, mark it down
    I like you.
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  47. #47
    Quote Originally Posted by a500lbgorilla View Post
    If anycoin has a future, it needs zealots and believers. What it has are mostly fools.
    I'm not so sure. Nobody can even tell you in exact terms why a specific change in a price happened. Current discussion by economists includes the idea that investors into what have since been called bubbles were actually right.
  48. #48
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    Quote Originally Posted by wufwugy View Post
    I'm not so sure. Nobody can even tell you in exact terms why a specific change in a price happened. Current discussion by economists includes the idea that investors into what have since been called bubbles were actually right.
    There was a cryptocurrency ponzi scheme called Bitconnect. It promised users access to their 1% return a day trading bot, you just had to exchange dollars for bitconnectcoins.

    When they had around $3billion in assests, they shuttered shop.

    Who could have seen it coming?


    Last edited by a500lbgorilla; 01-20-2018 at 01:17 PM.
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  49. #49
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    If not Bitconnect, he'd be about a big, beautiful, gorgeous wall with Mexico.
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  50. #50
    Quote Originally Posted by a500lbgorilla View Post
    There was a cryptocurrency ponzi scheme called Bitconnect. It promised users access to their 1% return a day trading bot, you just had to exchange dollars for bitconnectcoins.

    When they had around $3billion in assests, they shuttered shop.

    Who could have seen it coming?


    Cool. I agree
  51. #51
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    Agree with what?
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  52. #52
    OngBonga's Avatar
    Join Date
    Jul 2010
    Posts
    16,451
    Location
    England
    Quote Originally Posted by a500lbgorilla View Post
    I like you.
    It's a troll account, my best guess is wuf.
    Quote Originally Posted by wufwugy View Post
    ongies gonna ong
  53. #53
    Quote Originally Posted by OngBonga View Post
    It's a troll account, my best guess is wuf.
    believe me i would do a much better job of trolling if i ever tried.
  54. #54
    Quote Originally Posted by a500lbgorilla View Post
    Agree with what?
    With your implied point. Scams exist and people invest in scams. I wasn't talking about that type of thing.
  55. #55
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    Even the central thrust of bitcoin is built on whispers. In regards to bitcoins, there isn't a good financial decision to be made unless you believe bigger fools than you are just over the horizon.
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  56. #56
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    Quote Originally Posted by OngBonga View Post
    It's a troll account, my best guess is wuf.
    I like wuf too
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  57. #57
    Quote Originally Posted by a500lbgorilla View Post
    Even the central thrust of bitcoin is built on whispers. In regards to bitcoins, there isn't a good financial decision to be made unless you believe bigger fools than you are just over the horizon.
    Yet, it is very likely that one day cryptocurrencies will do what people today think they will. That is essentially the base for the enthusiasm of cryptocurrencies.

    Even if we look at the dot-com "bubble", the same is true. Investors were right, there was something very big to be expected. Today the value of dot coms are far greater than when the "bubble" was at peak. Problems involved things like individual investors were maybe getting specific investment decisions "wrong" or that information changed in such a way that people thought it was a bubble so they started acting like it was a bubble.

    But we know by now that the reason for enthusiasm in the dot coms was a good reason. When it comes to cryptocurrencies, the forest is most likely there, but that doesn't mean that lots of people might not be climbing up the right trees.
  58. #58
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    Quote Originally Posted by wufwugy View Post
    Yet, it is very likely that one day cryptocurrencies will do what people today think they will. That is essentially the base for the enthusiasm of cryptocurrencies.

    Even if we look at the dot-com "bubble", the same is true. Investors were right, there was something very big to be expected. Today the value of dot coms are far greater than when the "bubble" was at peak. Problems involved things like individual investors were maybe getting specific investment decisions "wrong" or that information changed in such a way that people thought it was a bubble so they started acting like it was a bubble.

    But we know by now that the reason for enthusiasm in the dot coms was a good reason. When it comes to cryptocurrencies, the forest is most likely there, but that doesn't mean that lots of people might not be climbing up the right trees.
    The forest isn't there.

    It might have been there when 8 out of 10 bitcoin holders were nerds looking to buy pizza to make it a real currency. But today, it's just a vehicle to grab crawlers from the soil and use them as bait.

    If bitcoin or etherium or altcoin or whatevercoin or anothercoin don't become a viable currency tomorrow then they have no value today. It's that simple.
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  59. #59
    Quote Originally Posted by a500lbgorilla View Post
    If bitcoin or etherium or altcoin or whatevercoin or anothercoin don't become a viable currency tomorrow then they have no value today. It's that simple.
    Why do you think that?
  60. #60
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    Why do they even exist if not to become a currency of value?
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>
  61. #61
    Quote Originally Posted by a500lbgorilla View Post
    Why do they even exist if not to become a currency of value?
    That is why they exist. My question is why do you think it needs to happen by tomorrow. I'm asking because I know the relevant economic theory on this (rational expectations), and that doesn't include any time limit. Stocks can adjust today based on an expectation of something 100 years in the future.
  62. #62
    a500lbgorilla's Avatar
    Join Date
    Sep 2004
    Posts
    28,120
    Location
    himself fucker.
    Quote Originally Posted by wufwugy View Post
    That is why they exist. My question is why do you think it needs to happen by tomorrow. I'm asking because I know the relevant economic theory on this (rational expectations), and that doesn't include any time limit. Stocks can adjust today based on an expectation of something 100 years in the future.
    Tomorrow was... im not sure of the word... a floruish. It could have been eventually.
    <a href=http://i.imgur.com/kWiMIMW.png target=_blank>http://i.imgur.com/kWiMIMW.png</a>

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •