Crypto

[Anonymous No.18931587]

Crypto makes no sense whatsoever, prove me wrong

>HIGHLY volatile meaning normal people will never be interested in it, because it's unsafe
>High barrier to entry, requiring you to learn what a wallet is, and all this shit - another reason normal people will never be interested in it
>Has no inherent value
>Instrumental value is highly questionable due to volatility

It's just a fad, a bubble, just like tulip mania.

[Anonymous No.18931723]

>>18931587
Funny thing is, most of the time when the price exploded, some exchange fuckery was going on.
2013/2014 Mt. Gox
And there have been rumors since 2017 that Tether from Bitfinex isn't fully backed, or that it is backed by crypto, but not USD, which is fraud.
It's the perfect scam imo.

[Anonymous No.18931804]

Now I will address some counter-"arguments"
>BUT DOOD FUCK THE GOVERNMENT
Exactly, only conspiracy nutjob retards like you will ever be interested in crypto - the same crowd that believes the Earth is flat and Tupac killed JFK
>BUT DOOD FIAT MONEY ONLY HAS INSTRUMENTAL VALUE, NOT INHERENT
That doesn't matter, in fact normal people don't even make a mental distinction between the two. A normal person sees a $20 note as valuable, just like they see food as valuable. They don't philosophise over whether that value is inherent or instrumental. MEANWHILE, crypto is highly voltaile, which undermines its utility / value, regardless of whether it's inherent or instrumental. If your $100 worth of crypto is just as likely to be worth $200 tomorrow as it is to be worth $0 tomorrow, then what's the fucking point?
>BUT DOOD IF YOU WATCH THE MARKET THEN YOU CAN PREDICT RISES
It's all just gambling and all a bunch of bullshit. It's like a speculative bubble except it's going on for longer due to stubborn retards who think this thing will ever have value. Why should crypto ever have a stable value? It won't because speculation will cause it to fluctuate wildly. Which means it has little utility for anybody, besides speculators and people looking to buy drugs etc. who want an untraceable (or LESS traceable) exchange mechanism.

Crypto is fucking stupid.

[Anonymous No.18931863]

>>18931587

It's worth putting 1% of your net-worth into cryptos which have a genuine future, like XMR or BCH, but, as far as BTC is concerned, yes, it's a worthless scam which was taken over by banks and financial institutions long ago. It has no use-case and will soon collapse. For the most part, people should be buying precious metals.

[Anonymous No.18931907]

>>18931587
The internet makes no sense whatsoever, prove me wrong

>HIGHLY volatile meaning normal people will never be interested in it, because it's unsafe
>High barrier to entry, requiring you to learn what a modem is, and all this shit - another reason normal people will never be interested in it
>Has no inherent value
>Instrumental value is highly questionable due to volatility

It's just a fad, a bubble, just like Betamax

[Anonymous No.18931938]

>>18931587
The internet makes no sense whatsoever, prove me wrong
>HIGHLY volatile meaning normal people will never be interested in it, because it's unsafe
>High barrier to entry, requiring you to learn what a URL is, and all this shit - another reason normal people will never be interested in it
>Has no inherent value
>Instrumental value is highly questionable due to volatility
It's just a fad, a bubble, just like tulip mania.

[Anonymous No.18931945]

>>18931804
Also another thing I meant to say, when I mentioned that crypto is just gambling, is that REAL gambling is much easier for a punter to understand, and therefore why don't they just do real gambling?

E.g. in Roulette you know what the odds are, 1 in 37 / 38 depending on the style, or 1 in 2 if you bet on red or black, etc.

And even in sports betting, people like to understand all the factors behind a sport team's potential success (players, their current form, their past record, the two teams' head to head records, etc.) so they can make an informed bet.

With crypto how do they know the odds? All they can read is a bunch of bullshit written by a bunch of speculators online. It's a fad, it's a cult, it's fucking stupid.

>>18931723
I don't even know about that stuff, I'm just saying crypto as a whole concept is fucking stupid. It will never have a stable value due to speculation, and therefore it will have no use for anybody besides people looking to buy drugs or whatever.

If the value of your money can wildly change, for better or more significantly for worse, on a day by day basis, then it's not very good is it? Nobody wants that, nobody wants unnecessary headaches, which is why crypto is so fucking stupid.

[Anonymous No.18931961]

>>18931907
bro, the fuck

[Anonymous No.18932120]

>>18931945
It is a get-rich-quick scheme for the early adopters.
I bought AMZN and Gold during the corona dip this year, and it has been a pretty good call.

[Anonymous No.18932168]

>>18931907
>>18931938
Imagine being this fucking stupid, and defensive.

The internet's value does NOT wildly change. Does YouTube turn itself off and on, randomly, on different days? I.e. are there some weeks where you just can't watch YouTube at all (nor Netflix, etc.), therefore reducing the value of the internet for the common user? No. Pretty much every website on the internet has like 99% uptime or more.

So the value proposition of the internet is incredibly stable. If you choose to pay $30 a month for an internet subscription to your house then you know what value you're getting for that $30. You're getting YouTube, Netflix, online gaming, news websites like CNN, Google services like GMail and Google Maps, whatever the fuck it is that you're interested in.

You are so fucking stupid that it's really fucking pathetic.

[Anonymous No.18932273]

>>18932168
Imagine being this fucking stupid, and defensive.

The internet's value did NOT wildly change when it was being introduced. Did websites turn themselves off and on, randomly, on different days? I.e. are there some weeks where you just can't IRC at all (nor blog, etc.), therefore reducing the value of the internet for the common user? No. Pretty much every website on the internet had like 99% uptime or more.

[Anonymous No.18932283]

>HIGHLY volatile meaning normal people will never be interested in it, because it's unsafe
Yes, it's a highly speculative asset. Normal people are interested because most of them are degenerate gamblers.
>High barrier to entry, requiring you to learn what a wallet is, and all this shit - another reason normal people will never be interested in it
In the future people will use decentralized blockchains without even knowing it. The same way people use the internet but don't know what HTTP is.
>Has no inherent value
Wrong, for example Bitcoin has scarcity and utility.
>Instrumental value is highly questionable due to volatility
The market disagrees with you.

>>18931945
>It will never have a stable value due to speculation, and therefore it will have no use for anybody besides people looking to buy drugs or whatever.
Ever heard of stablecoins?

[Anonymous No.18932578]

>>18931804
You're a redditor aren't you? Lemme guess, /r/buttcoin? Go back faggot. It didn't end years ago, it's not ending now. I can buy shit with it, so it's real. All else is cope. Imagine being this emotionally engaged with something, as you are, and just watching wave after wave of people get rich off it, and inch closer to finding adoption. Meanwhile, there you are, still just a pontificating poorfag. You must be fucking SEETHING.

[Anonymous No.18932848]

>>18932273
~10 years after the first web browser was released to the public, there were 413 million people on the internet
~10 years after bitcoin was released, there were 2.9 - 44 million crypto wallet users, depending on source

Sources:
https://ourworldindata.org/internet
https://en.wikipedia.org/wiki/Bitcoin
https://www.statista.com/statistics/647374/worldwide-blockchain-wallet-users/

Also think about this, in the year 2000, the percentage of computer owners who had an internet connection was quite high. Pic related, which is from here:

https://www.quora.com/When-did-broadband-become-popular

If 51% of households had a computer and 41.5% had the internet, then that means 81% of households with a computer ALSO had the internet.

Then think about crypto. Do 81% of people with an internet connection have crypto? No. It's probably like 1% or less.

Your pathetic interest is nothing and will be remembered by history as the 21st century incarnation of tulip mania.

[Anonymous No.18932875]

>>18932578
>ad hominem seething: the post
Thanks for admitting I'm right.

[Anonymous No.18932925]

>>18932283
>Bitcoin has scarcity and utility
My toenails are scarce and I'm sure could have some limited uses just like bitcoin.

>The market disagrees
The market that proves that I'm right about the volatility? Ah yes, that market.

[Anonymous No.18933430]

>>18932925
>some limited uses just like bitcoin.
So you admit Bitcoin has some use cases. Way to undermine your whole arguement

>The market that proves that I'm right about the volatility? Ah yes, that market.
I never said you were wrong about the volatility. If you're concerned about that you can just buy options.

[Anonymous No.18933691]

>>18931587
I'm not the only one who senses bull season with these threads starting to pop, am I?

[Anonymous No.18934337]

>>18933430
>So you admit Bitcoin has some use cases
I said it has as many as my toenails. Clearly you're not very bright are you?

>I never said you were wrong about the volatility
Let's go back to what you said. Which in turn requires looking at what you replied to.

I said "instrumental value is highly questionable due to volatility", which is true. How the fuck is a currency useful if its value wildly fluctuates? IT ISN'T, which is why currencies like the Zimbabwean dollar were FUCKING USELESS. BECAUSE THEIR VALUE WAS TOO VOLATILE. So Zimbabweans started using US dollars, Euros, literally ANYTHING FUCKING ELSE because all those other currencies were at least STABLE. So if you got paid $2 USD for a day's work, at least it would still be worth $2 USD by the time you went to buy some fucking food at the weekend.

And your reply to my statement that "instrumental value is highly questionable due to volatility" was to say "the market disagrees with you".

No it doesn't. As the Zimbabwean dollar proves.

The current value of BTC is due to asset speculation, NOT because people believe it has genuine utility.

[Anonymous No.18934683]

>>18934337
The answer to BTC's value is what you just said, genuine utility. There is utility in BTC and cryptos. That is how global currency is built into this world and that is the desire of the powers to be.

[Anonymous No.18934760]

>>18931587
bro you have to be joking 2 years ago I was walking around hearing so many normies talk about the most retarded alt coins markets dont get smarter nows a good time to buy because theres still bad sentiment from the last crash just wait another year or two and you'll get some insane fomo with an even higher market cap maybe 700B maybe 1T could go as high as 2.5T yes people are actually retarded

[Anonymous No.18934827]

>>18931587
Crypto shit coins
Fees
Fees
Crabbing
Dips
Waiting forever to make movements

> Bitcoin
> Fees
> Ultra volatile
> But you can make some money off it

[Anonymous No.18934893]

>>18934683
Facilitating small-time internet-based narcotics transactions is not much of a utility, and any utility crypto has for this purpose is completely undermined by its volatility.

Just like Zimbabweans didn't want to own Zimbabwean dollars to conduct their transactions in, due to its rapidly changing value, the same applies to crypto. A currency is not useful if its value wildly changes. Every country on Earth has figured this out, which is why they employ measures to control the value of their currency, which in turn allows citizens to have faith in the currency, and to want to use it. Citizens only want to use currencies with a stable value. So when they earn $50 for a day's work, they know that their $50 won't suddenly have changed value to a significant degree by the time they buy groceries on the weekend.

[Anonymous No.18934937]

>>18933691
I feel you bro, today, OP is a faggot once again

[Anonymous No.18935057]

>>18934893
RSR sounds applicable. I was debating on an investment amount in this platform. A 350,000 stack seems worth the risk.

[Anonymous No.18935274]

>>18934337
Imagine thinking that cryptocurrencies have the same use case as fiat currencies.
Imagine thinking that stable coins don't exist.
Imagine getting this upset over people making money off speculative assets.

[Anonymous No.18935467]

>>18934760
>dude it's totally going to take off again just you wait and see
I just don't see it. Crypto really doesn't have much genuine utility at all and that's why it's a poor investment. It helps make you pseudo-anonymous for buying drugs online but that's about it, that's basically the only thing it's useful for. The vast majority of its current value is surely due to speculation.

Here's an interesting story:
>Howard Marks, one of the most respected value investors out there, starkly warned his clients to avoid high-flying digital currencies.
>“In my view, digital currencies are nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it,” Marks wrote in the investor letter Wednesday.
>The co-chairman of Oaktree Capital is famous for his prescient investment memos, which predicted the financial crisis and the dotcom bubble implosion.
https://www.cnbc.com/2017/07/26/billionaire-investor-marks-who-called-the-dotcom-bubble-says-bitcoin-is-a-pyramid-scheme.html

Now you can say "who cares what one dickhead thinks", but I bet his view is representative of most mainstream financial workers. I know Warren Buffet has been highly critical of crypto. And he's the most successful investor ON THE PLANET and has been for literally decades at this point. In fact here's what he's said about crypto:
>In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending.
https://www.cnbc.com/video/2018/01/10/warren-buffett-cryptocurrency-will-come-to-a-bad-ending.html

[Anonymous No.18935565]

>>18934937
>NOOOO HE SAID SOMETHING THAT HURT MY FEEWINGS I BETTER SAY SOME AD HOMINEM
How stupid can you possibly be?

>NOOO NOW YOU'RE USING AD HOMINEM AGAINST ME YOU'RE A HYPOCRITE
No, because you were the one that reduced this thread to that level, you pathetic twat.

>>18935274
>DUDE IT'S GOT LOADS OF USE CASES
>names zero
Nice.

>upset
That's ad hominem, which isn't an argument. Why are you unable to respond to my actual points? Is it because you're retarded? It must be.

[Anonymous No.18935727]

Also can I just point out that nobody in this thread has actually given any positive reasons whatsoever for why crypto would have value.

I myself have come up with one example, which is pseudo-anonymous small-time drug transactions online. That's the only one I can really think of. There may well be other examples, I'm sure there are. In which case, why has nobody mentioned any? Why have so many posters responded with ad hominem like they're five year old children who just got their feelings hurt?

[Anonymous No.18935765]

>>18935727
I can tell you are a normie from the title of your pic

[Anonymous No.18936128]

>>18935765
>Why have so many posters responded with ad hominem like they're five year old children who just got their feelings hurt?

[Anonymous No.18936247]

then don't invest retard just shut the fuck up no one has to prove anything to you get off 4chan LOSER

[Anonymous No.18936384]

>>18936247
>Why have so many posters responded with ad hominem like they're five year old children who just got their feelings hurt?

[Anonymous No.18936667]

DONT LET THE DOOR HIT YOU ON THE WAY OUT you absolute FAGGOT

[Anonymous No.18936672]

If crypto is useless, then why are you here? why are you so self entitled you need a bunch of strangers to prove anything to you, just so you can argue on the internet like an autistic retard. Just don't invest, its simple.

[Anonymous No.18936934]

>>18932578
You got destroyed just let it go....

[Anonymous No.18936972]

>>18936672
Because Bitcoin lives rent free in his head. This is adoption.

[Anonymous No.18937022]

>>18936934
Check btc price. If you don’t understand what is going on then a good investment for you may be rope.

[Anonymous No.18937037]

if you are butthurt about crypto, then dont buy and shut the fuck up and when the next fomo cycle start and the rest of us make it you can do a hero.

[Anonymous No.18937117]

>>18931587
I don't remember
>tulip wallet
>tulip technicals
>decentralized tulips
>tulip oracle problem

It's like blockchain technology isn't the same as tulips

[Anonymous No.18937175]

>>18931587
you assume that it'll always be volatile
it's a risky assets, high risk, high reward, but if crypto spreads in the internet (like it keeps doing since 2009, it's basically an automation protocol for programmers after being internet money), you'll be labelled as a short sighted dog, don't cry if your biz friends goes wealthy and you're far away from benefiting as much as what you wanted. it's a way to make real money which can really work, and guess what, normies don't believe it can grow, which is precisely why it has a chance. the more people want it the more value it has. if everyone want it, it'll be extremely expensive, and earning money through volatility will be near impossible, will require high leverages like forex.

[Anonymous No.18937402]

>>18936667
>>18936672
>>18936972
>>18937037
>Why have so many posters responded with ad hominem like they're five year old children who just got their feelings hurt?

[Anonymous No.18938060]

>>18931587
all the things you said are true, but they are going to change

[Anonymous No.18938138]

>>18937117
>wow here's a load of technical buzzwords
I can add technical words to tulips too:
>tulip metabolism
>tulip reproduction
>herbaceous bulbiferous tulips
>tulip botany
It's almost like technical jargon doesn't affect a thing's utility.

Also you're committing the exact same problem I've described here: >>18935727

You haven't given any ways in which crypto is useful. As I said, I'm sure there ARE some ways in which it might potentially be useful (though I believe them to be limited). If you guys think they're useful then surely it should be easy to list those uses?

>>18937175
>you assume that it'll always be volatile
Yes I do because as I said in another post, I don't see how it can ever have a stable value. Normal currencies have a stable value because of central banks, of course. Assets usually fluctuate in value because nothing but the market, which changes, determines their value. Things like houses, cars, gold.

I think that volatility makes it less useful as a medium for exchange.

>it's a risky assets, high risk, high reward
And high chance of loss.

>but if crypto spreads in the internet (like it keeps doing since 2009
Due to speculation. Just like Dutch tulips in the 1600s.

>normies don't believe it can grow, which is precisely why it has a chance
So you think precisely because normal people don't believe in it, therefore it will be successful? How does that work? That's like saying "nobody wants to see this movie, therefore the movie will be successful". And it's not just normal people who say crypto is bullshit, it's also people like Warren Buffet, the most successful investor probably of the last 100 years.

>the more people want it the more value it has
What are the specific advantages of crypto that would make people want it? Maybe there are some but nobody seems to have given many in this thread so far.

[Anonymous No.18938274]

>>18938060
>volatility
I don't see how that can ever change. If it has no central regulating body, then it is subject to market forces, just like house prices, car prices, gold prices.

Of course if crypto became more mature then it would certainly become MORE stable and LESS volatile, yes. But it still would be more volatile than a traditional currency, I would have thought. Unless it really gets huge widespread adoption. But I seriously doubt that would ever happen.

There are many reasons that your average Joe prefers his national currency. E.g. many national governments have compensation schemes for bank deposits. So if your bank fails, you will get your money back, from the government. This will never be the case for crypto. National currencies are also stable, mature, accepted everywhere, etc etc.

>has no inherent value
>instrumental value is highly questionable due to volatility
I don't think those things can change either. Volatile currencies are not very useful, see the Zimbabwean dollar. People want money that has a stable value. It's the foundation of a fair economy. If you receive $400 in payment for your bicycle, but then by the weekend when you go to spend it, it's only worth half that, then you won't be very happy. Your money unpredictably lost value and it screwed you over. So you'll go and seek a financial instrument with a more stable value.

[Anonymous No.18938569]

>>18938138
volatility lowers with volume...crypto with no volume have insane volatility but since there's no volume you can't even make any money. to make money you need both volume and volatility. crypto markets have both at the moment, so right now just do what you have to do.

the thing is not high chance of loss, just watch its evolution. constant evolution, stable. if it keeps growing day after day for 10 years straight, the chance of loss keeps getting lower. obviously there's such a thing as being too late here.

it keeps going because it has good money properties. people take the bet that it'll keep spreading and if it does, due to its properties, it will simply work as money because of its properties.

yes don't know know the markets? 90%+ fail. only the top investors make money. the majority is always wrong. normies are the majority. normies on average are wrong, will stay poor, that's how everything works. they don't take bitcoin seriously. crypto gets the interest of programmers and many kinds of asocial spergs that are not the majority, that should tell you something.

I don't have time to educate you, but bitcoin is a protocol and it can be used to automate many things and if it spreads (more people having a wallet) businesses will be able to automate operations, preventing them to avoid paying salaries to accountant or many other of those types of soon to be irrelevant jobs. you also have an immutable ledger that can allow to prove with a simple query that a document existed at a given time. if you can make a simple condition in a program to check things, you don't have to pay for legal people to prove authenticity of something. its main value is trust minimization/automation. don't have time to talk more I keep doing that for years, just keep it mind it's an anarchist project at heart, which won't achieve it's true purpose, but it will still provide more freedom to us if it succeeds. it's about reducing government power, capitalism doing its thing.

[Anonymous No.18938681]

>>18938274
Why are you conveniently ignoring the fact that stablecoins exist which have no volatility?