BITCOIN

mooneysaver

https://mobile.twitter.com/_elcomisionado_/status/1472326380620632064?s=21

Section62

adindas said:

I will keep referring to flatearthers the dialog of the deaf to have a discussion with the people who said that the blockchain does not have value or have very little value.

If you really want to persist with using this offensive term (despite the offensiveness being repeatedly pointed out to you) then you should at least understand that the meaning of the phrase is that neither party to the discussion is listening to and acknowledging/understanding the other. There is fault on both sides.

So you are - in a sense - insulting yourself when you use that phrase about your conversations with others.

But could you not find some different words which are less offensive?  We are nearly into 2022... references to disabilities and afflictions as a means of criticism of others should have been history a long time ago.

Section62

adindas said:

"fully"

I don't understand why you put that word into your post using bold and quotation marks.  I didn't use that word in my post.

The gist of the article is based on the well-known concept of a little knowledge being a dangerous thing - knowing enough to get involved in crypto, but not enough to understand when you are being scammed.

The people referred to in the article didn't get scammed because they didn't "fully" understand crypto - they got scammed because they understood a bit, and listened to others telling them they could get rich quick.

adindas

Section62 said:

adindas said:

"fully"

I don't understand why you put that word into your post using bold and quotation marks.  I didn't use that word in my post.

The gist of the article is based on the well-known concept of a little knowledge being a dangerous thing - knowing enough to get involved in crypto, but not enough to understand when you are being scammed.

The people referred to in the article didn't get scammed because they didn't "fully" understand crypto - they got scammed because they understood a bit, and listened to others telling them they could get rich quick.

"On 18 October he joined a Telegram channel called B2C Mining.

Peavsky told Chiranjeevi that if he were to send him over $160 they would mine a type of crypto-currency for 24 hours.

Twenty-four hours later, his investment was returned with interest. Chiranjeevi had made about $40. He couldn't believe how simple it was.

"It was easy money," he says.

Even for ordinary people this type of scam is already well known since ages and well documented. It comes with various variations e.g. advance-fee, advance payment, overpayment scam, etc.

Also just be aware some people want to look like a victim (to get compensation, get attention for instance) where they voluntarily take part of the well known scam they already know hoping they would manage to escape early after making money and left the mess up to others.

I fully agree of what you said that people shouldn't invest in things they don't understand. But you do not need to fully understand to take action. You will never "fully"  understand an investment product. Even the well known wall street analysts, acute multi billionaires hedge fund managers have never reached that stage. That is why they got it wrong in many some occasions.  Also never be under pressure when come to investing your own money. That is why I said If you do this and get result you are not expecting the only one you will need to blame is yourself.

adindas

Section62 said:

adindas said:

I will keep referring to flatearthers the dialog of the deaf to have a discussion with the people who said that the blockchain does not have value or have very little value.

If you really want to persist with using this offensive term (despite the offensiveness being repeatedly pointed out to you) then you should at least understand that the meaning of the phrase is that neither party to the discussion is listening to and acknowledging/understanding the other. There is fault on both sides.

So you are - in a sense - insulting yourself when you use that phrase about your conversations with others.

But could you not find some different words which are less offensive?  We are nearly into 2022... references to disabilities and afflictions as a means of criticism of others should have been history a long time ago.

Nope, I am not insulting myself for saying that as I am referring to particular people. There are still people on this MSE who said BTC is a scam. There are people on this BTC said that BTC is a greater fool theory where they have no or very little value and the only way to make money is to sell it to another fool. I posted the link previously again when other people are challenging me to proof it.

bugbyte_2

adindas, its Matt Damon here.

Just some points to clear up. When you talk completely out of the blue about flat earthers and deaf people I get the impression you hare having some kind of internal argument with yourself as no one here is claiming the earth is flat, although some of us could be hearing impaired I guess. Also, please stop copy and pasting your own posts - we read it the first time. 

Your assertion that people loose money if their cash investments rise below inflation is of course true. However, as BTC has dropped 30% in the past month its not the best argument to say they should have put it in Crypto. You quite spectacularly fail to understand why or how people invest - the alternative to ultra safe cash is not straight to cripto and - just a stab in the dark - some people's goals may not be to go to the moon and quite possibly just want their money to beat inflation over a long period of time because at some point they will need it for a house or retirement. 

to quote you directly - 'There are people on this BTC said that BTC is a greater fool theory where they have no or very little value and the only way to make money is to sell it to another fool.'

Just out of interest how else are you going to make money? you buy it for x and sell it for y to another person, and in the process make (or for the last month) loose money. There is nothing wrong with that but it is what it is. Owning a coin does not mean you own the underlying tech.

Finally, are you really suggesting that the person who got scammed in the BBC article was doing it for attention?

'Also just be aware some people want to look like a victim (to get compensation, get attention for instance) where they voluntarily take part of the well known scam they already know hoping they would manage to escape early after making money and left the mess up to others.'

Anyway, have a great evening! and always remember - Fortune favours the Brave!

adindas

bugbyte_2 said:

adindas, its Matt Damon here.

Just some points to clear up. When you talk completely out of the blue about flat earthers and deaf people I get the impression you hare having some kind of internal argument with yourself as no one here is claiming the earth is flat, although some of us could be hearing impaired I guess. Also, please stop copy and pasting your own posts - we read it the first time.

Nope. There are still flatearthers. There are still people who said BTC is a a scam. I put the link when someone is challenge me to proof it.

bugbyte_2 said:

adindas, its Matt Damon here.

Your assertion that people loose money if their cash investments rise below inflation is of course true. However, as BTC has dropped 30% in the past month its not the best argument to say they should have put it in Crypto. You quite spectacularly fail to understand why or how people invest - the alternative to ultra safe cash is not straight to cripto and - just a stab in the dark - some people's goals may not be to go to the moon and quite possibly just want their money to beat inflation over a long period of time because at some point they will need it for a house or retirement.

I fully agree that people invest for different reason. Some people also prefer to put their money into saving account because it is probably the best course of action for him/her; For instance for a short term waiting for mortgage deposit.

bugbyte_2 said:

adindas, its Matt Damon here.

to quote you directly - 'There are people on this BTC said that BTC is a greater fool theory where they have no or very little value and the only way to make money is to sell it to another fool.'

Just out of interest how else are you going to make money? you buy it for x and sell it for y to another person, and in the process make (or for the last month) loose money. There is nothing wrong with that but it is what it is. Owning a coin does not mean you own the underlying tech.

We have been going through this many times, have not we. That is what is called the dialogue of the deaf. I even change the approach by using a more authoritative approaches as we should not be listening to the random people on the internet.

bugbyte_2 said:

adindas, its Matt Damon here.

Finally, are you really suggesting that the person who got scammed in the BBC article was doing it for attention?

'Also just be aware some people want to look like a victim (to get compensation, get attention for instance) where they voluntarily take part of the well known scam they already know hoping they would manage to escape early after making money and left the mess up to others.'

Anyway, have a great evening! and always remember - Fortune favours the Brave!

That is just one possibility, I am not saying he defenitely is. As I mentioned it before, even for ordinary people this type of scam is already well known since ages and well documented. It comes with various variations e.g., advance-fee, advance payment, overpayment scam, etc.

 Indeed, people who invest in Major Cryptos and High Growth, high volatility Stocks must have believed in "Fortune favours the Brave!". But Matt Damon is only posing for the advertisement from Crypto.com. That phrase has been known since the roman empire.

But people do not take the risk for nothing. People know that risk is associated with return. Sensible people will only take the risk when the reward is much higher, not 1 to 1 ratio. We take that decision in any investment decision. We take that decision when choosing between investing in the stock market rather than to put money into saving account for the extra money we want to grow. You do not put the money you borrow from a lender, your mortgage installment, all of your life saving into a highly risky investment.

Thanks, good night to you as well.

Malthusian

adindas said:

There are people on this BTC said that BTC is a greater fool theory where they have no or very little value and the only way to make money is to sell it to another fool.

Please detail exactly how you can make money from Bitcoin without selling it to someone else for a higher price than you bought it.

And no, "look at this video of some govbro wibbling about MUH BLOCKCHAIN to some confuddled bluepills in Congress" is not an answer.

IvanOpinion

Well that busts my theory.  To me it appeared that you could judge the performance of Bitcon by looking at the position of this thread.  When it was near the top it was doing well with the fanbois out in force, but it always seemed to drop a few pages when its value went down.  I was surprised to see it come to the top today given how the price has been collapsing over the last few weeks.

I always did say that WHEN (not 'if') it drops below $10 again I might consider buying in.

adindas

Malthusian said:

adindas said:

There are people on this BTC said that BTC is a greater fool theory where they have no or very little value and the only way to make money is to sell it to another fool.

Please detail exactly how you can make money from Bitcoin without selling it to someone else for a higher price than you bought it.

And no, "look at this video of some govbro wibbling about MUH BLOCKCHAIN to some confuddled bluepills in Congress" is not an answer.

We have been going through this many times, have not we. It is pointless to continue the dialogue of the deaf.

The discussion about Malthusian and Cornucopian have been going on and on for ages and still going on nowadays.

There are a lot of scientific evidences which have proven that the earth is round but there are still many people outthere believe that the earth is flat. Well, nothing wrong to believe in what you want to believe especially if you have not witnessed it with your own eyes and you are not an astronomer.

I even change the approach by using a more authoritative approaches as we should not be listening to the random people on the internet.

Here on this MSE not all people are flaterthers. Not all people are happy with the return they get from their savings, bonds. Not all people are not willing to take a calculated risk. But sensible people will never take the risk for nothing. Sensible people in investing and Trading will only take the risk when the Reward is much higher than the risk. Nothing wrong with both approaches, you do what you believe is the best for you.

In the past I and other people have posted the links information about the value of blockchain from authoritatives sources. From short video clips to a series of lecture. I also have posted many links from people who understand blockchain from multi-dimensional (not just from investing POV) from investing, technology, legal side. Find out yourself.

I fully agree that people should not be following what other people are doing, without doing their own DDs. But if you do not even care the more authoritative sources, how come you ask the random people on the internet to convince you?

I think the best think you could do is you find how to contact these people probably from their social media sites and you ask these people questions or clarification. If you were lucky, they might want to waste time to reply to your query. I know for sure Elon Musk, Jack Dorsey, Michael Saylor sometimes replies to the query posted on their social media sites.

Noone here is getting paid to convince other people. We live and learn. You take the gain you take the blame as simple as that.