Crypto

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Crypto

Post by kalm »

Haven’t paid much attention to it. Is it a fad? Pyramid scheme? Subversive Libertarian pixie dust? Will the power elite buy into it long enough to control and swallow it?

Discuss...
“selling it as a revolution” is a hugely important part of why cryptocurrency is succeeding. But as is generally the case when someone is trying to sell you something, the whole thing should seem extremely fishy. In fact, much of the cryptocurrency pitch is worse than fishy. It’s downright fraudulent, promising people benefits that they will not get and trying to trick them into believing in and spreading something that will not do them any good. When you examine the actual arguments made for using cryptocurrencies as currency, rather than just being wowed by the complex underlying system and words like “autonomy,” “global,” and “seamless,” the case for their use by most people collapses utterly. Many believe in it because they have swallowed libertarian dogmas that do not reflect how the world actually works.
https://www.currentaffairs.org/2021/04/ ... iant-fraud
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Re: Crypto

Post by Rob Iola »

What can you actually buy with it? And why is so much energy consumed/pollution emitted to produce such a seemingly ephemeral product? At this stage it seems that crypto is little more than a conceptual IT construct.
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Re: Crypto

Post by kalm »

Rob Iola wrote: Sat Jun 12, 2021 11:42 am What can you actually buy with it? And why is so much energy consumed/pollution emitted to produce such a seemingly ephemeral product? At this stage it seems that crypto is little more than a conceptual IT construct.
Good questions. :nod: Yet billions are thrown at it is at least on the radar screen of traditional/institutional investors.
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Re: Crypto

Post by AZGrizFan »

kalm wrote: Sat Jun 12, 2021 11:47 am
Rob Iola wrote: Sat Jun 12, 2021 11:42 am What can you actually buy with it? And why is so much energy consumed/pollution emitted to produce such a seemingly ephemeral product? At this stage it seems that crypto is little more than a conceptual IT construct.
Good questions. :nod: Yet billions are thrown at it is at least on the radar screen of traditional/institutional investors.
Bitcoin has been called a pyramid scheme for 15 years. Yet here it is….
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Re: Crypto

Post by kalm »

AZGrizFan wrote: Sat Jun 12, 2021 11:55 am
kalm wrote: Sat Jun 12, 2021 11:47 am

Good questions. :nod: Yet billions are thrown at it is at least on the radar screen of traditional/institutional investors.
Bitcoin has been called a pyramid scheme for 15 years. Yet here it is….
Good point. Does it have a ceiling?
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Re: Crypto

Post by UNI88 »

AZGrizFan wrote: Sat Jun 12, 2021 11:55 am
kalm wrote: Sat Jun 12, 2021 11:47 am
Good questions. :nod: Yet billions are thrown at it is at least on the radar screen of traditional/institutional investors.
Bitcoin has been called a pyramid scheme for 15 years. Yet here it is….
So it's a long con ... ;)
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Re: Crypto

Post by AZGrizFan »

UNI88 wrote: Sat Jun 12, 2021 12:19 pm
AZGrizFan wrote: Sat Jun 12, 2021 11:55 am

Bitcoin has been called a pyramid scheme for 15 years. Yet here it is….
So it's a long con ... ;)
Very, very long apparently.
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Re: Crypto

Post by Pwns »

Ultimately it's just computer bits and it's only a matter of time before someone can effectively counterfeit it and since there's no real governing body on crypto nothing can really be done to protect its value.
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Re: Crypto

Post by Ibanez »

Pwns wrote: Sun Jun 13, 2021 1:54 pm Ultimately it's just computer bits and it's only a matter of time before someone can effectively counterfeit it and since there's no real governing body on crypto nothing can really be done to protect its value.
They're computer files. You would think the woke crowd would be against something that requires so much energy to produce.
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Re: Crypto

Post by CAA Flagship »

Just checked. I have made 81 trades in RIOT and MARA since 9/4/20. I still have no idea what the hell is going on. But I am averaging a profit of $402 per trade. :lol:
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Re: Crypto

Post by Ibanez »

CAA Flagship wrote: Mon Jun 14, 2021 5:37 am Just checked. I have made 81 trades in RIOT and MARA since 9/4/20. I still have no idea what the hell is going on. But I am averaging a profit of $402 per trade. :lol:
:lol: That's what the screeners, Entries and Exits indicators are for.
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Re: Crypto

Post by kalm »

Ibanez wrote: Mon Jun 14, 2021 5:36 am
Pwns wrote: Sun Jun 13, 2021 1:54 pm Ultimately it's just computer bits and it's only a matter of time before someone can effectively counterfeit it and since there's no real governing body on crypto nothing can really be done to protect its value.
They're computer files. You would think the woke crowd would be against something that requires so much energy to produce.
Many of them are.
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Re: Crypto

Post by houndawg »

How do you turn bitcoin into US dollars?
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Re: Crypto

Post by Ibanez »

houndawg wrote: Wed Jun 23, 2021 4:36 am How do you turn bitcoin into US dollars?
Sell them
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Re: Crypto

Post by kalm »

Ibanez wrote: Wed Jun 23, 2021 5:27 am
houndawg wrote: Wed Jun 23, 2021 4:36 am How do you turn bitcoin into US dollars?
Sell them
Gobble up high end video cards. Dump them before Bitcoin crashes.
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Re: Crypto

Post by HI54UNI »

houndawg wrote: Wed Jun 23, 2021 4:36 am How do you turn bitcoin into US dollars?
Put your bitcoins in one of these machines at the grocery store.

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Re: Crypto

Post by SuperHornet »

HI54UNI wrote: Wed Jun 23, 2021 5:56 am
houndawg wrote: Wed Jun 23, 2021 4:36 am How do you turn bitcoin into US dollars?
Put your bitcoins in one of these machines at the grocery store.

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Re: Crypto

Post by Gil Dobie »

Basically, what is our money right now. We are headed in the direction of money and coinless society. It will all be cards and microchips eventually.
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Re: Crypto

Post by houndawg »

Ibanez wrote: Wed Jun 23, 2021 5:27 am
houndawg wrote: Wed Jun 23, 2021 4:36 am How do you turn bitcoin into US dollars?
Sell them
How do you find somebody dimwitted enough to buy them?
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Re: Crypto

Post by Skjellyfetti »

there are bitcoin atms. i'd imagine the exchange rate is terrible, though.
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Re: Crypto

Post by Ibanez »

houndawg wrote: Wed Jun 23, 2021 11:17 am
Ibanez wrote: Wed Jun 23, 2021 5:27 am

Sell them
How do you find somebody dimwitted enough to buy them?
If you bought it on an exchange, sell it for it's USD equivalent.
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Re: Crypto

Post by houndawg »

Ibanez wrote: Wed Jun 23, 2021 11:39 am
houndawg wrote: Wed Jun 23, 2021 11:17 am

How do you find somebody dimwitted enough to buy them?
If you bought it on an exchange, sell it for it's USD equivalent.
Meh, its an insiders game just like Wall Street.
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Re: Crypto

Post by UNI88 »

houndawg wrote: Wed Jun 23, 2021 11:17 am
Ibanez wrote: Wed Jun 23, 2021 5:27 am
Sell them
How do you find somebody dimwitted enough to buy them?
Tell people in Little Egypt that bitcoin comes with a 10% off Meth coupon. :D
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Re: Crypto

Post by houndawg »

UNI88 wrote: Wed Jun 23, 2021 11:46 am
houndawg wrote: Wed Jun 23, 2021 11:17 am

How do you find somebody dimwitted enough to buy them?
Tell people in Little Egypt that bitcoin comes with a 10% off Meth coupon. :D
They make their own down here
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Re: Crypto

Post by SDHornet »

HI54UNI wrote: Wed Jun 23, 2021 5:56 am
houndawg wrote: Wed Jun 23, 2021 4:36 am How do you turn bitcoin into US dollars?
Put your bitcoins in one of these machines at the grocery store.

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:lol:
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