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Crypto currency in a death spiral..

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Posted: #151
Tell me how you would buy Phore without using BTC. 

 
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Posted: #152
Vanzack is right about you, Rostos. You say something stupid and we prove you wrong and you don’t acknowledge it. You just say something else that doesn’t make sense. 

Is this clear enough: YOU DO NEED BTC TO BUY MOST OTHER CRYPTO
 
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Posted: #153

LOL

Bitcoin keeps on going up because other people think it is going up, not because of anything intrinsic..

Just a group of market participants saying "because we say so".

Nothing more, nothing less

 
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Posted: #154

Of course holders want to praise it and bag anyone that doesn't agree with it, because that is all they have. Hype to drive the price up. That is all they have.

I mean, you cant look at anything else objective and point to it.

At least with a fiat currency, you can say, look, the U.S economy is over heating, this results in inflationary pressure and hence interest rates will rise. There will be a demand for US dollars for such a case. If anyone praises or bags the US dollar, then who cares, it has no bearing in such a case because there is objective econimic data to support your argument.

Same goes for a stock. Who cares if people bag it, the price will for the most part reflect underlying fundamentals irrespective of ones feelings.

Crypto fan boys cannot point to anything objective except hype, good publicity and feelings and that is why anything that is negative is FUD because it ruins there dreams of getting rich.

 
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Posted: #155
Quote Originally Posted by Rostos:

LOL

Bitcoin keeps on going up because other people think it is going up, not because of anything intrinsic..

Just a group of market participants saying "because we say so".

Nothing more, nothing less


People want to buy it because they believe it has several advantages over other forms of currency.  

 
 
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Posted: #156

Quote Originally Posted by thorpe:

QUOTE Originally Posted by Rostos: LOL Bitcoin keeps on going up because other people think it is going up, not because of anything intrinsic.. Just a group of market participants saying "because we say so". Nothing more, nothing less People want to buy it because they believe it has several advantages over other forms of currency.

So why are most people HOLDING IT in the hope that its price rises so they can sell it and hence convert it to FIAT?

That doesnt seem to be one of the hall marks of a currency now does it?

 
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Posted: #157
I don’t think most people would sell it just to keep fiat in a safe. 
 
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Posted: #158
Blockchain, decentralized, limited supply. 

That’s why bitcoin keeps going up. 
 
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Posted: #159

Quote Originally Posted by Kaufee:

Vanzack is right about you, Rostos. You say something stupid and we prove you wrong and you don’t acknowledge it. You just say something else that doesn’t make sense. Is this clear enough: YOU DO NEED BTC TO BUY MOST OTHER CRYPTO

You forgot to put that he just keeps repeating his original statement over and over.

Do yourself a favor and back out while you still have your sanity.

Support your local animal shelter. I am on twitter.
 
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Posted: #160

Quote Originally Posted by Rostos:

So why are most people HOLDING IT in the hope that its price rises so they can sell it and hence convert it to FIAT? That doesnt seem to be one of the hall marks of a currency now does it?

You know this to be true?

Did you read what I wrote earlier in the thread?  I am NEVER SELLING to fiat.  I will be spending when it is mainstream to spend.

There are tons of people like me.  How do you know what most people are doing that own crypto?

Support your local animal shelter. I am on twitter.
 
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Posted: #161

Quote Originally Posted by Rostos:

Of course holders want to praise it and bag anyone that doesn't agree with it, because that is all they have. Hype to drive the price up. That is all they have. I mean, you cant look at anything else objective and point to it. At least with a fiat currency, you can say, look, the U.S economy is over heating, this results in inflationary pressure and hence interest rates will rise. There will be a demand for US dollars for such a case. If anyone praises or bags the US dollar, then who cares, it has no bearing in such a case because there is objective econimic data to support your argument. Same goes for a stock. Who cares if people bag it, the price will for the most part reflect underlying fundamentals irrespective of ones feelings. Crypto fan boys cannot point to anything objective except hype, good publicity and feelings and that is why anything that is negative is FUD because it ruins there dreams of getting rich.

Rostos - 

Once again.  The value of crypto is:

1.  Finite supply
2.  Decentralized

This is what crypto holders believe in.  This is the underlying value.  USD does not have these two things.  

If you want to continue this debate, stop ignoring this like you have for 2 days now.

Support your local animal shelter. I am on twitter.
 
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Posted: #162

Quote Originally Posted by vanzack:

QUOTE Originally Posted by Rostos: So why are most people HOLDING IT in the hope that its price rises so they can sell it and hence convert it to FIAT? That doesnt seem to be one of the hall marks of a currency now does it? You know this to be true? Did you read what I wrote earlier in the thread?  I am NEVER SELLING to fiat.  I will be spending when it is mainstream to spend. There are tons of people like me.  How do you know what most people are doing that own crypto?

I support van here- I'm never selling any of my crypto either.  Would only consider spending after mainstream adoption and value has greatly appreciated.

 

 
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Posted: #163
Interesting post which just strengthens my position of the superseding of virtual currencies.

You can still trade BTC like pokemon cards but it will not be a supported method of payment when this takes place.


https://www.bloomberg.com/news/articles/2018-02-08/ecb-s-mersch-says-his-payment-system-is-better-than-blockchain




 
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Posted: #164
Bitcoin is decentralized 

ECB 
 
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Posted: #165
Quote Originally Posted by vanzack:

Rostos - 

Once again.  The value of crypto is:

1.  Finite supply
2.  Decentralized

This is what crypto holders believe in.  This is the underlying value.  USD does not have these two things.  

If you want to continue this debate, stop ignoring this like you have for 2 days now.



just got my ledger nano s in the mail.  now, just need to see which of my kids knows how to work this thing and i'll be all set. 
 
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Posted: #166

Quote Originally Posted by Qwan61:

Interesting post which just strengthens my position of the superseding of virtual currencies.You can still trade BTC like pokemon cards but it will not be a supported method of payment when this takes place. https://www.bloomberg.com/news/articles/2018-02-08/ecb-s-mersch-says-his-payment-system-is-better-than-blockchain

 

That was a great post Qwan!!!

 

Looks like more countries coming up with the same idea as you Qwan.

https://www.express.co.uk/finance/city/927706/Bitcoin-price-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news

 

BTC updated target: ZERO!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

 

 
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Posted: #167
You pasted a link. It wasn’t your idea. 

 
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Posted: #168
It’s as tangible as gold is and will become increasingly tangible in the future. 

How could someone that mines bitcoin wipe out someone that holds bitcoin? 

 
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Posted: #169
What pot stock are you going to buy? 

Bitcoin is currently $8930, we’ll see what performs better over the next year. 
 
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Posted: #170
From @naval 

1/ Blockchains will replace networks with markets.

2/ Humans are the networked species. The first species to network across genetic boundaries and thus seize the world.

3/ Networks allow us to cooperate when we would otherwise go it alone. And networks allocate the fruits of our cooperation.

4/ Overlapping networks create and organize our society. Physical, digital, and mental roads connecting us all.

5/ Money is a network. Religion is a network. A corporation is a network. Roads are a network. Electricity is a network...

6/ Networks must be organized according to rules. They require Rulers to enforce these rules. Against cheaters.

7/ Networks have "network effects." Adding a new participant increases the value of the network for all existing participants.

8/ Network effects thus create a winner-take-all dynamic. The leading network tends towards becoming the only network.

9/ And the Rulers of these networks become the most powerful people in society.

10/ Some are run by kings and priests who choose what is money and law, sacred and profane. Rule is closed to outsiders and based on power.

11/ Many are run by corporations. The social network. The search network. The phone or cable network. Closed but initially meritocratic.

12/ Some are run by elites. The university network. The medical network. The banking network. Somewhat open and somewhat meritocratic.

13/ A few are run by the mob. Democracy. The Internet. The commons. Open, but not meritocratic. And very inefficient.

14/ Dictatorships are more efficient in war than democracies. The Internet and physical commons are overloaded with abuse and spam.

15/ The 20th century created a new kind of network - market networks. Open AND meritocratic.

16/ Merit in markets is determined by a commitment of resources. The resource is money, a form of frozen and trade-able time.

17/ The market networks are titans. The credit markets. The stock markets. The commodities markets. The money markets. They break nations.
 
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Posted: #171
18/ Market networks work where there is a commitment of money. Otherwise they are just mob networks. The applications are limited.

19/ Until now.

20/ Blockchains are a new invention that allows meritorious participants in an open network to govern without a ruler and without money.

21/They are merit-based, tamper-proof, open, voting systems.

22/ The meritorious are those who work to advance the network.

23/ As society gives you money for giving society what it wants, blockchains give you coins for giving the network what it wants.

24/ It's important to note that blockchains pay in their own coin, not the common (dollar) money of financial markets.

25/ Blockchains pay in coin, but the coin just tracks the work done. And different blockchains demand different work.

26/ Bitcoin pays for securing the ledger. Etherium pays for (executing and verifying) computation.

27/ Blockchains combine the openness of democracy and the Internet with the merit of markets.

28/ To a blockchain, merit can mean security, computation, prediction, attention, bandwidth, power, storage, distribution, content...

29/ Blockchains port the market model into places where it couldn't go before.

30/ Blockchains' open and merit based markets can replace networks previously run by kings, corporations, aristocracies, and mobs.

31/ It's nonsensical to have a blockchain without a coin just like it's nonsensical to have a market without money.

32/ It's nonsensical to have a blockchain controlled by a sovereign, a corporation, an elite, or a mob.

33/ Blockchains give us new ways to govern networks. For banking. For voting. For search. For social media. For phone and energy grids.

34/ Networks governed without kings, priests, elites, corporations and mobs. Networks governed by anyone with merit to the network.

35/ Blockchain-based market networks will replace existing networks. Slowly, then suddenly. In one thing, then in many things.

36/ Ultimately, the nation-state is just a network (of networks).

FIN/ Thank you, Satoshi Nakomoto. And to all the shoulders that Satoshi stands upon.
 
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Posted: #172

Crashing hard now gentlemen. This is world economics imo. 

Trying to hold but shorts are kicking doors down... Good luck. peace_5

 
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Posted: #173
Mr.......Detox wants to apply 21st century macro-economics to his Pokoman Card Buying Club.........I'm positive how that ends.

"We'll meet again,don't know where don't know when"
"But I know we'll all be better when we Do"

Dr StrangeLove.........Stanley Kubrick
 
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Posted: #174

an_roll_laugh

 

 

 
 
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Posted: #175
Positive how it ends... 

Write how you think it’s going to end so I can revisit in the future for a good laugh. 

Don’t be scared. 

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