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BITCOIN
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lozzy1965 said:I must admit to totally not understanding Crypto, and being sceptical, but with an open mind. This article kind of mirrors my possible misunderstanding of just how it can be so popular:
https://www.ft.com/content/2c3dd96c-b1b1-42fd-ab46-8b4791bf1270
Sorry to stoke the "anti" sentiment, and "yes" I am jealous
Nobody knowledgeable about the crypto space is seriously suggesting you invest in Dogecoin, Safemoon or SHIB. Fairly certain everyone will tell you they are probably going to zero.lardellion said:By itself, I don't think Dogecoin is enough of a reason to not take crypto seriously, as it's just one sign of craziness. But taken together with a lot more trash like it in the top 100 coins getting pumped up, and evidence of the general frenzy (e.g. the Papa John's £fiat worth of Bitcoin promotions), I think the bubble is real.
I really think you need to work on your critical thinking skills.Malthusian said:So in exchange for at least £30, Papa John's will give you £10 in "free" Bitcoin and £15 off the order.This tells you a lot about:- the belief of crypto exchanges in the value of crypto (if Luno believed that Bitcoin was going to la luna, they wouldn't give it to bros in exchange for a £10 cut of a pizza sale)
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darren232002 said:I really think you need to work on your critical thinking skills.My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?2
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Malthusian said:darren232002 said:I really think you need to work on your critical thinking skills.My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?
No one has ever become poor by giving0 -
thegentleway said:Malthusian said:darren232002 said:I really think you need to work on your critical thinking skills.My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?0
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thegentleway said:Malthusian said:darren232002 said:I really think you need to work on your critical thinking skills.My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?0
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Thrugelmir said:thegentleway said:Malthusian said:darren232002 said:I really think you need to work on your critical thinking skills.My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?No one has ever become poor by giving0
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HansOndabush said:thegentleway said:Malthusian said:darren232002 said:I really think you need to work on your critical thinking skills.My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?No one has ever become poor by giving1
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lardellion said:darren232002 said:Nobody knowledgeable about the crypto space is seriously suggesting you invest in Dogecoin, Safemoon or SHIB. Fairly certain everyone will tell you they are probably going to zero.
Inefficient markets are great for generating returns for those sharp enough to see an edge.Malthusian said:My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?
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thegentleway said:HansOndabush said:thegentleway said:Malthusian said:darren232002 said:I really think you need to work on your critical thinking skills.My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?
It works because it naturally costs more to purchase it in a currency that is being devalued. In that scenario, someone who wants to protect themselves from further inflation/ currency debasement, will pay the going rate to buy gold. One doesn't have to believe someone will pay a higher price for it, one knows that someone will in the future.
That is somewhat different to Bitcoin which has no use or utility other than a speculative token.0 -
HansOndabush said:thegentleway said:HansOndabush said:thegentleway said:Malthusian said:darren232002 said:I really think you need to work on your critical thinking skills.My critical thinking skills are enough to keep me out of money games and paying £30 for £5 worth of pizza bro.Got any actual reasons why paying £30 for £5 worth of pizza and a £10 ticket to a zero sum money game is a good idea?
It works because it naturally costs more to purchase it in a currency that is being devalued. In that scenario, someone who wants to protect themselves from further inflation/ currency debasement, will pay the going rate to buy gold. One doesn't have to believe someone will pay a higher price for it, one knows that someone will in the future.
That is somewhat different to Bitcoin which has no use or utility other than a speculative token.
Bitcoin has some uses too, eg dark web.
So it’s very similar, if people stop believing someone will buy gold for a higher price it will drop and only used for jewellery/industrial applications. if people don’t believe Bitcoin is a store of value then the price would collapse to being used for illegal activities. What humans decide they believe is a better store of value in the future is very hard to predict.No one has ever become poor by giving0
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