I bet to differ. Its difficult to believe this thing is still alive. In a ponzi scheme, you need new money to always come in to bid the price up higher. For BTC, you also have the narrative that you never cash out because its going even higher. Don't forget, what did Madoff in was the 2008 crisis where people finally wanted to take some money out. But if you keep saying BTC going to 500k, you limit all the withdrawls. But here is the real kicker. You don't even need new money coming in. If you can print fake money, (even faker than fiat...LOL), and use this to push the price up, well, then you have unlimited rocket fuel to take this to the moon. So I think most logical people are justified in missing out.
Quite the cope narrative you've whipped up there. You should read this post on narratives. https://www.elitetrader.com/et/threads/how-to-value-bitcoin.357951/page-6#post-5369821
My guess is exchanges who want more trading fees. Not any different than stock brokers marketing the latest, hottest stocks to entice retail traders.
OK, let's go with your arguments for a moment. So, you have told us what cryptos are not and that the argument of payments and store of value are old arguments (even though those claims are made by those who hype cryptos every single day). What are they then good for? You say you have voting rights through your cryptos. Voting rights of what? What do you own a share of? Instead of just calling everyone who disagrees uneducated why not address the questions? Not accusing you just hoping to get some answers. Most shills who are on this site and hype cryptos and call everyone idiots who don't toe the line are by majority people who have never even traded through a single recession or crisis nor have they studied the history of asset pricing. I put more trust and belief in anyone who has manned a trading desk, day in day out, worked through periods of extraordinary gains and large losses and came out ahead than any of those clowns here who only tell others they lack knowledge without ever addressing any single issue or question. I am open to consider cryptos. How would you sell me their intrinsic value? I won't invest in hope alone, so, if there is anything else than pure speculation to it, let's hear it.
It said audited, it did not say it has to be one of big 4 total joke. Cops y they is taking in billions can bring hire reputable auditing firm
I think NANO is a Chinese-backed project? In either case, NANO and LTC, they do not have the adoption, but if you want to risk your $ in them, I will support you because all cryptos are in an ecosystem that work with each other, like there are many fiat currencies worldwide or there are many stocks in the stock market or there are many commodity assets Eth is a smart-contract platform which does not directly compete with bitcoin on its most important function
Yep, any of those fiat currencies can pay taxes, owed, and buy bread or rice on the table. A share of a stock entitles you to the ownership and voting rights of hard assets, assets that can be sold and that the rest of the world attaches value to. With cryptos you need to stay inside a bubble and trade with your own brethren and exchange one crypto for another. The only way you survive is to lure more naive people in to buy into this hype. This is the ONLY way to keep the values from plummeting.
The only scorecard here is how much you've made, lost or stood on the side lines for. How Much? Johnarb, has a track record mostly documented here of being on the right side of this whatever you guys want to call it. At the end of the day he is pounding you F88ker noncoiners to oblivion including myself lol. You go Johnarb!!!
Not exactly, at least in the case of Bitcoin, but let us continue on the previous topic. Again, Bitcoin and other cryptocurrencies have serious structural deficiencies. Sure, some of the technology involved has value, such as block chain, but cryptocurrencies, as seemingly envisioned or at least as promoted by its backers, has a limited future. At best. I have been silent on Bitcoin for some time now. However, I feel compelled to speak out in response to the recent ramp up of hype and misleading use of statistics that could very well suck in new or naive investors. It is one thing an knowledgeable and experienced trader to take on risk, but it is quite another when a new investor relies on one-sided hype of industry aligned promoters. I guess my sense of justice compels me to speak up. Other than myself, does anyone read pages of industry disclosures and actually reflect upon them? Very few, I suspect. Hopefully my posts, as well as similar minded posters, help remind new investors of the real, multiple risks they face if they choose to participate in cryptocurrencies.
Agree with this The nocoiners like to argue the currency functionality of bitcoin, when clearly bitcoin is not being used as such by Tesla, Microstrategy, Goldman Sachs, Morgan Stanley, Harvard and Yale endowments, New Zealand pension fund, and so on... I think some are gaslighting and some are clueless like DiceAreCast In the OP, I tried to highlight the powerful functionality of this disruptive technology that was started by Bitcoin, but nocoiners will always diminish it to simple-minded arguments that forces the conversation to go down to their level Nocoiners need to educate themselves to have meaningful conversations about the subject, but Bitcoin is not an easy concept on many levels