Bitcoin

coyrls

markj113 said:

coyrls said:

markj113 said:

I currently have a substantial amount of physical gold which is hovering around all time highs (up around 40% Y2D) and I sleep easy at night.

I am gald you sleep easy at night but how is your physical gold going to save you when the bubble "pops"?

Flight to safety pushing prices significantly higher at which point I'll sell up and buy property etc.

So not a very big "pop" then?  I would have thought the popping of a "big artificial bubble" might have more drastic consequences.

2unlimited91

markj113 said:

Take 1 look at the US debt clock and tell me thats a healthy financial state for a country:

And if that worries you, consider that the Earth weighs 6,000,000,000,000,000,000,000 tons, and yet is orbiting the Sun at 67,000 mph. Totally unsustainable!

I currently have a substantial amount of physical gold which is hovering around all time highs

Sorry to break it to you, but sounds like it's fake. Gold shouldn't hover on air.

EdGasketTheSecond

When gov'ts introduce their own crypto-currencies they will probably outlaw all the other ones; just like gold has been confiscated from time to time throughout history in various countries including the US, UK, Australia, Russia to name a few so don't say it couldn't happen.

markj113

2unlimited91 said:

markj113 said:

Take 1 look at the US debt clock and tell me thats a healthy financial state for a country:

And if that worries you, consider that the Earth weighs 6,000,000,000,000,000,000,000 tons, and yet is orbiting the Sun at 67,000 mph. Totally unsustainable!

I currently have a substantial amount of physical gold which is hovering around all time highs

Sorry to break it to you, but sounds like it's fake. Gold shouldn't hover on air.

Two pointsof complete nonsense, thak you for your input

kuratowski

Views on Bitcoin are rather like views on which Football team is best.  Most of the people who care about it at all have already picked a side, and there is no sense in trying to reason with them.  Any attempt at discussion is fruitless, and quickly degenerates into a slanging match.

chamelion

kuratowski said:

Views on Bitcoin are rather like views on which Football team is best.  Most of the people who care about it at all have already picked a side, and there is no sense in trying to reason with them.  Any attempt at discussion is fruitless, and quickly degenerates into a slanging match.

Lol, yep! I checked in on this forum and was surprised to see the alert showing how many new posts in this thread. I un-bookmarked a while ago given the conversation was already a cringe fest at the start - reading some of the more recent comments are full on cringeworthy. Suggestion in general here is for crypto-advocates go to one of the more crypto-friendly discussion sites for valuable discussions, and leave MSE to discuss traditional finance. 

bowlhead99

kuratowski said:

Views on Bitcoin are rather like views on which Football team is best.  Most of the people who care about it at all have already picked a side, and there is no sense in trying to reason with them.  Any attempt at discussion is fruitless, and quickly degenerates into a slanging match.

True, it can be quite tribal. 

It reminds me a bit of some of the old 'passive investments vs active investments' discussions that used to rage. You get the passive zealots in one camp who strongly believe that passive is always best and should always be used, and you get the level headed people who say that passive should be used where it is good and active should be used where it is good. The lack of blinkered closed-mindedness from people who have active holdings within their portfolio, helped to give the passive zealots a feeling that they definitely had it right - because there were very few opposing zealots who wouldn't entertain that passive funds could be useful, while the passive zealots knew in their own mind that active funds could not be useful because they had read an article or research piece telling them that passive was best, and so everyone else was a dummy.

I'm simplifying the issue with generalisations of course, and these days the people who stuck around on the forum have generally learned to get along with each other just fine.  With Bitcoin and other crypto there is periodically 'new blood' coming in (or users revisiting under new usernames) to kick off the discussion again, while people who heard all the points the first time can't really be bothered any more so will just dismiss them flippantly and give up on the thread.

That does run the risk of the bitcoin threads becoming an echochamber of bitcoin fans wanting to hear from each other that bitcoin is best and that they are going to get rich from it when the conventional economy collapses, which is a somewhat aggressive view and a bit at odds with the remaining conventional 'moneysaving expert savings and investments' set of threads. So there are usually some bitcoin sceptics who will join in the slanging match to try to inject a dose of reality so that general savers and investors are not misled into piling into crypto and losing 90% of their money overnight due to not appreciating the risk.

2unlimited91

markj113 said:

2unlimited91 said:

markj113 said:

Take 1 look at the US debt clock and tell me thats a healthy financial state for a country:

And if that worries you, consider that the Earth weighs 6,000,000,000,000,000,000,000 tons, and yet is orbiting the Sun at 67,000 mph. Totally unsustainable!

I currently have a substantial amount of physical gold which is hovering around all time highs

Sorry to break it to you, but sounds like it's fake. Gold shouldn't hover on air.

Two pointsof complete nonsense, thak you for your input

I aim to please

I'm sure you got the point of my post, but for anybody who didn't: my concern about the Earth's physical statistics was indeed complete nonsense, just like your concern about the US debt clock. We were both just saying: "Ooh! look at the scary big numbers!" 

And then, since I was on an nonsense roll, I added some gratuitous nonsense about gold hovering on air. Mixing nonsense for the purposes of satire with senseless nonsense was, on second thoughts, asking for trouble.

BananaRepublic

2unlimited91 said:

markj113 said:

2unlimited91 said:

markj113 said:

Take 1 look at the US debt clock and tell me thats a healthy financial state for a country:

And if that worries you, consider that the Earth weighs 6,000,000,000,000,000,000,000 tons, and yet is orbiting the Sun at 67,000 mph. Totally unsustainable!

I currently have a substantial amount of physical gold which is hovering around all time highs

Sorry to break it to you, but sounds like it's fake. Gold shouldn't hover on air.

Two pointsof complete nonsense, thak you for your input

I aim to please

I'm sure you got the point of my post, but for anybody who didn't: my concern about the Earth's physical statistics was indeed complete nonsense, just like your concern about the US debt clock. We were both just saying: "Ooh! look at the scary big numbers!" 

And then, since I was on an nonsense roll, I added some gratuitous nonsense about gold hovering on air. Mixing nonsense for the purposes of satire with senseless nonsense was, on second thoughts, asking for trouble.

Unfortunately some groups of people such as conspiracy theorists, quack medics and Bitcoin fanatics tend not to have a sense of humour. It's also odd how Bitcoin fanatics cannot tolerate discussion. They cannot accept that it is a high risk investment, and they cannot accept that it uses so much energy that it is a threat to the climate. It could grow massively, my view is that it will die, or stagnate.

Malthusian

kuratowski said:

Views on Bitcoin are rather like views on which Football team is best.  Most of the people who care about it at all have already picked a side, and there is no sense in trying to reason with them.  Any attempt at discussion is fruitless, and quickly degenerates into a slanging match.

The difference between a Bitcoin slanging football match and a football slanging match is that if I'm bantering with a Bristol Rovers fan, it's not because I bought a load of Bristol City shirts in an attempt to get rich quick, and I want him to start buying Bristol City shirts so I can cash out for more than I paid.