BITCOIN

Malthusian

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?

thegentleway

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?

just wondering if you think buying gold is a zero sum game as well?

Thrugelmir

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?

just wondering if you think buying gold is a zero sum game as well?

Gold is at least tangible. Has many uses. Not just decorative. 

HansOndabush

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?

just wondering if you think buying gold is a zero sum game as well?

Essentially it is BUT fiat currency continues to lose value vs gold so it is a better store of value than cash. It has a long history over thousands of years of protecting holders from currency debasement.

thegentleway

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?

just wondering if you think buying gold is a zero sum game as well?

Gold is at least tangible. Has many uses. Not just decorative. 

Kind of but most of it is just stored/traded and consequently the price is mostly driven by speculation? 

thegentleway

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?

just wondering if you think buying gold is a zero sum game as well?

Essentially it is BUT fiat currency continues to lose value vs gold so it is a better store of value than cash. It has a long history over thousands of years of protecting holders from currency debasement.

Right so it’s just accepted as a store of value. It works because people believe someone else will pay more for it in the future. The gold hasn’t done anything useful apart from sitting there. In fact it’s cost money to store it. 

User232002

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.

The point is that despite this, Doge stands at rank #4 and Shiba #21 on CoinMarketCap.

The world contains many companies overvalued by traditional metrics. Nobody uses that to say that other companies must be over valued because they are in the same space or index.

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?

If you cant identify an obvious marketing play by a young company in a growing industry, then you're ngmi. 

HansOndabush

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?

just wondering if you think buying gold is a zero sum game as well?

Essentially it is BUT fiat currency continues to lose value vs gold so it is a better store of value than cash. It has a long history over thousands of years of protecting holders from currency debasement.

Right so it’s just accepted as a store of value. It works because people believe someone else will pay more for it in the future. The gold hasn’t done anything useful apart from sitting there. In fact it’s cost money to store it. 

Not quite the whole story. Gold has use and utility for jewelry and for industrial use so although some is 'sitting there', it has potential to be used and is valued for that as well as being a store of value. In the past it has either fully or partially backed some currencies but now all currencies are fiat; not backed by anything other than a dwindling faith. That is why gold will always rise over the long term in nominal value compared to a fiat currency especially now when so much new currency is being created out of thin air.
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.

thegentleway

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?

just wondering if you think buying gold is a zero sum game as well?

Essentially it is BUT fiat currency continues to lose value vs gold so it is a better store of value than cash. It has a long history over thousands of years of protecting holders from currency debasement.

Right so it’s just accepted as a store of value. It works because people believe someone else will pay more for it in the future. The gold hasn’t done anything useful apart from sitting there. In fact it’s cost money to store it. 

Not quite the whole story. Gold has use and utility for jewelry and for industrial use so although some is 'sitting there', it has potential to be used and is valued for that as well as being a store of value. In the past it has either fully or partially backed some currencies but now all currencies are fiat; not backed by anything other than a dwindling faith. That is why gold will always rise over the long term in nominal value compared to a fiat currency especially now when so much new currency is being created out of thin air.
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.

I didn’t realise you could predict the future!
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.

HansOndabush

thegentleway said:

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?

just wondering if you think buying gold is a zero sum game as well?

Essentially it is BUT fiat currency continues to lose value vs gold so it is a better store of value than cash. It has a long history over thousands of years of protecting holders from currency debasement.

Right so it’s just accepted as a store of value. It works because people believe someone else will pay more for it in the future. The gold hasn’t done anything useful apart from sitting there. In fact it’s cost money to store it. 

Not quite the whole story. Gold has use and utility for jewelry and for industrial use so although some is 'sitting there', it has potential to be used and is valued for that as well as being a store of value. In the past it has either fully or partially backed some currencies but now all currencies are fiat; not backed by anything other than a dwindling faith. That is why gold will always rise over the long term in nominal value compared to a fiat currency especially now when so much new currency is being created out of thin air.
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.

I didn’t realise you could predict the future!
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.

To predict the future you have to look at history which tells you that gold has been money for five thousand years and throughout that time  gold has maintained its value. It is highly likely that will continue.
The same cannot be said of Bitcoin which has been around for fifteen years and is highly volatile.