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BITCOIN
Comments
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When we discovered gold?thegentleway said:When did we “evolve” from indigent apes to hoarding humans obsessed with ownership?0 -
Isn't Bitcoin specifically 'money'? That's what one does with money, buy things. It becomes a bit strange when the currency one uses to buy things becomes, in itself, collectable thoughMalthusian said:
Of course he doesn't. Nobody who owns Bitcoin would be daft enough to pay for pizza in Bitcoin.Why would anyone give away their Bitcoin for a pizza instead of hodling it while it goes to the moon? Especially when there are still schmucks who will give you pizza if you offload some worthless fiat currency to them?Do you want to be like that guy back in 2010 who handed over 10,000 BTC for a couple of pizzas?Outside the odd publicity stunt, people only hand over Bitcoins for goods and services if it's undesirable to do it with fiat (i.e. they're illegal). Pizzas don't qualify.As it always needs to be said: attaching a Bitcoin -> fiat processor to your checkout software and letting someone pay a third party to convert their Bitcoins into fiat before you get paid in fiat != accepting Bitcoins.
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God, I love the hilarity of statements like this. Bitcoin 'crashes' 40% and all the naysayers come out and do their victory lap for the day. Meanwhile, Bitcoin was actually up 110% YTD at its peak and is now currently up 30% YTD - which is still higher than any other asset (S&P up ~10% and Gold down 7% YTD for context).ZingPowZing said:Bitcoin halved.
Don’t worry though, “you haven’t lost anything until you sell.”
Good luck with that.
Bitcoin keeps crashing... upwards.
This is a pretty typical response where someone effectively says "I know others don't really get it, but I'm asking valid questions and deserve a response," whilst proceeding to post the same rubbish but in a different way. You might be very intelligent in other areas of life, but your questions here have all been answered in this thread and come from nothing more than your own biases.thegentleway said:To be fair some of the anti crypto comments from the haters/trolls don't deserve much response but that's not an excuse to brush everything to the side instead of adding any substance.
*Sigh* I'm not confused, you're just unable to acknowledge that goods and services don't have to solely exist 'in the real world.' Bitcoin is providing a service. Its fixing the worlds money supply so that your net worth isn't inflated away by central banks to protect the wealth of the already wealthy. Its a permission-less way to transfer money quickly and cheaply across borders 24/7 (Have you tried doing this with a bank lately?). Those seem like two pretty big 'services' to start with.thegentleway said:Intrisic value: I agree it's not necessarily an issue (e.g. dollar bills don't have intrisic value but work as money). Someone asked what's the difference between investing in shares and bitcoin. Bitcoin just sits there whilst companies produce goods and services. You seem to have confused intrinsic value with generating cash/value.
Wastes of energy are subjective. Fun fact; the most damaging thing you can do for the environment is to have a child. This doesn't mean that we should stop having children. Next, our goal as a civilization should not be to curtail energy use - the Kardashev scale suggests that advanced civilizations will use more energy, not less. We can though use our energy more efficiently.thegentleway said:Environmental concerns: you can play smoke and mirrors with claims about renewable energy but that does not address the ridiculous amount of energy usage wastage. Bitcoin uses an obscene amount of energy. Obviously it's easier to say I just don't get it and call me stupid. However, that says a lot more about you than it does about my general intelligence.
Articles on Bitcoins energy use are written by people with ideological axes to grind that aren't capable of thinking relatively instead of absolutely. The energy used is mostly renewable, it incentivises development of renewable energy sources because BTC miners are always buyers of last resort, and its an absolute drop in the bucket compared to the current fiat / gold / petrodollar system. The 'Bitcoin is bad for the environment' stuff doesn't stand up to any rational scrutiny whatsoever.
Literally everything posted above has already been pointed out in this thread. We aren't hand-waving; we're just bored of going round in circles. Honestly, I'm beginning to think the most existential crisis to Bitcoin is that there isn't a big enough percentage of the human population that have the mental faculty to understand why its useful. Its like the matrix and everyone is happy being Cypher - "Ignorance is bliss."3 -
Jesus wept. Facepalm.jpglozzy1965 said:Isn't Bitcoin specifically 'money'? That's what one does with money, buy things. It becomes a bit strange when the currency one uses to buy things becomes, in itself, collectable though.
Something else that has already been addressed ITT...1 -
Bitcoin doesn't fix anything let alone the world's money supply; that is laughable. You can't even buy a pizza with it from the 'Bitcoin pizza company'. Having lost 50% of its value in a month you can no longer argue it is a store of wealth. What exactly is it fixing that gold can't address?darren232002 said:
God, I love the hilarity of statements like this. Bitcoin 'crashes' 40% and all the naysayers come out and do their victory lap for the day. Meanwhile, Bitcoin was actually up 110% YTD at its peak and is now currently up 30% YTD - which is still higher than any other asset (S&P up ~10% and Gold down 7% YTD for context).ZingPowZing said:Bitcoin halved.
Don’t worry though, “you haven’t lost anything until you sell.”
Good luck with that.
Bitcoin keeps crashing... upwards.
This is a pretty typical response where someone effectively says "I know others don't really get it, but I'm asking valid questions and deserve a response," whilst proceeding to post the same rubbish but in a different way. You might be very intelligent in other areas of life, but your questions here have all been answered in this thread and come from nothing more than your own biases.thegentleway said:To be fair some of the anti crypto comments from the haters/trolls don't deserve much response but that's not an excuse to brush everything to the side instead of adding any substance.
*Sigh* I'm not confused, you're just unable to acknowledge that goods and services don't have to solely exist 'in the real world.' Bitcoin is providing a service. Its fixing the worlds money supply so that your net worth isn't inflated away by central banks to protect the wealth of the already wealthy. Its a permission-less way to transfer money quickly and cheaply across borders 24/7 (Have you tried doing this with a bank lately?). Those seem like two pretty big 'services'thegentleway said:Intrisic value: I agree it's not necessarily an issue (e.g. dollar bills don't have intrisic value but work as money). Someone asked what's the difference between investing in shares and bitcoin. Bitcoin just sits there whilst companies produce goods and services. You seem to have confused intrinsic value with generating cash/value.
As for claiming it is not an environmental problem, Elon Musk who I dare say has more Bitcoin than you and more to lose, has nevertheless acknowledged the energy wastage of Bitcoin such that he back tracked on Tesla accepting Bitcoin. If there is no issue as you maintain then he would not have done that.
You are a classic crypto cultist who understands it all but cannot explain anything to other intelligent people. You're like the 'clever' admirers of the Emporor's New Clothes who could see what no one else could see when in reality there was nothing to see.2 -
You dont hold any crypto right? And think it's "likely" that it's going to 20k? Why? Because it went down a lot yesterday?HansOndabush said:
Why would anyone start a 'Bitcoin pizza company' that won't accept Bitcoin for payment? Like saying he'd rather take dollars. Hardly an endorsement for Bitcoin. Just the sort of nonsense that is typical of the crypto crowd.Malthusian said:HansOndabush said:New Bitcoin Pizza company won't accept bitcoin as payment; ha ha what a joke this thing is:Of course he doesn't. Nobody who owns Bitcoin would be daft enough to pay for pizza in Bitcoin.Why would anyone give away their Bitcoin for a pizza instead of hodling it while it goes to the moon?
As for going to the moon, I think a further drop to $20k is likely.
Bored of repeating myself but I work in the industry, for a firm that was 4 people two years ago and is now 27. In fact we're raising money at a 55m valuation right now.
work 12 hours a day in the space seeing all sorts of people, projects and craziness going on, and have done for four years, I MAY have some insight into the industry, maybe.
BTC could go to $20k, highly unlikely imo, much more likely it's $100k+ in the coming year or so for various reasons given here repeatedly.
As Darren says, even including the huge dip yesterday, its performed better than all the standard investments in the last year, by far. How long does it need to keep crashing up for anyone to be open minded about it?0 -
You mistake me darren. I would take no satisfaction in Bitcoin crashing, because I see the danger of contagion to my own investments. I think it very dangerous that Bitcoin is so volatile and I’m worried that people who have been marched to the top of the hill shall be marched back down again. It is not possible that every Bitcoin investor is now sitting on a profit, perhaps the majority are now in the red because Bitcoin trades 10% of its total value daily. Regardless, the +/- is real.
That was the point of my last post.
Good luck with your journey. It’s not an investment for me.0 -
The chart pattern suggests it is going to 20K.Scottex99 said:
You dont hold any crypto right? And think it's "likely" that it's going to 20k? Why? Because it went down a lot yesterday?HansOndabush said:
Why would anyone start a 'Bitcoin pizza company' that won't accept Bitcoin for payment? Like saying he'd rather take dollars. Hardly an endorsement for Bitcoin. Just the sort of nonsense that is typical of the crypto crowd.Malthusian said:HansOndabush said:New Bitcoin Pizza company won't accept bitcoin as payment; ha ha what a joke this thing is:Of course he doesn't. Nobody who owns Bitcoin would be daft enough to pay for pizza in Bitcoin.Why would anyone give away their Bitcoin for a pizza instead of hodling it while it goes to the moon?
As for going to the moon, I think a further drop to $20k is likely.
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"The chart pattern" Which one is that?HansOndabush said:
The chart pattern suggests it is going to 20K.Scottex99 said:
You dont hold any crypto right? And think it's "likely" that it's going to 20k? Why? Because it went down a lot yesterday?HansOndabush said:
Why would anyone start a 'Bitcoin pizza company' that won't accept Bitcoin for payment? Like saying he'd rather take dollars. Hardly an endorsement for Bitcoin. Just the sort of nonsense that is typical of the crypto crowd.Malthusian said:HansOndabush said:New Bitcoin Pizza company won't accept bitcoin as payment; ha ha what a joke this thing is:Of course he doesn't. Nobody who owns Bitcoin would be daft enough to pay for pizza in Bitcoin.Why would anyone give away their Bitcoin for a pizza instead of hodling it while it goes to the moon?
As for going to the moon, I think a further drop to $20k is likely.0 -
Candlestick chart for Bitcoin showing clear head and shoulders pattern. The neck line was broken after the second shoulder and the initial drop from there was to 30K resistance. After that breaks, nothing to support the price until 20K. Don't you use charts at work?Scottex99 said:
"The chart pattern" Which one is that?HansOndabush said:
The chart pattern suggests it is going to 20K.Scottex99 said:
You dont hold any crypto right? And think it's "likely" that it's going to 20k? Why? Because it went down a lot yesterday?HansOndabush said:
Why would anyone start a 'Bitcoin pizza company' that won't accept Bitcoin for payment? Like saying he'd rather take dollars. Hardly an endorsement for Bitcoin. Just the sort of nonsense that is typical of the crypto crowd.Malthusian said:HansOndabush said:New Bitcoin Pizza company won't accept bitcoin as payment; ha ha what a joke this thing is:Of course he doesn't. Nobody who owns Bitcoin would be daft enough to pay for pizza in Bitcoin.Why would anyone give away their Bitcoin for a pizza instead of hodling it while it goes to the moon?
As for going to the moon, I think a further drop to $20k is likely.2
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