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7714293 No.7714293 [Reply] [Original]

Wait wait wait, let me get this straight. You invest centralised currency into a decentralised currency in hopes of earning more decentralised currency to only then cash back out to a centralised currency? And to top it off everybody in this space only cares about how the value of their currency is measured in a centralised currency.
Pic very much related.

>> No.7714341

>>7714293
I don't care about the centralized currency actually. I wish it would die already.

>> No.7714358

>>7714293
Don't care about the principle. I just want money

>> No.7714375

>>7714341
This and it will eventually.

>> No.7714422

>>7714293
My fiat currency only goes one way. ETH.
I only invest in alts to accumulate more ETH.

>> No.7714456

>>7714422
Do you ever sell to fiat (tether)? then rebuy? Or just HODL...what about paying for food?

>> No.7714485

No,
for one I have more money now than I can spend (my crypto stack would last for 15 years living at my current standards)
and second I still have some hope for the cryptocurrency revolution. C'mon, there just needs to be 1 supermarket that has a customer card that uses crypto and then a) you can buy food with that and b) the in that scenario the value of that currency and thus most other currencies get tangible value. If e.g. Starbucks actually realize their implication and I can load up my stupid Starbucks card on Bittrex instead of trading with fiat every other month, then I'd do it.

>> No.7714506
File: 1.02 MB, 912x1490, crypto trader.jpg [View same] [iqdb] [saucenao] [google]
7714506

Eventually, we won't need to "cash out" to a centralized currency.

>> No.7714539

I'd be glad to pay with crypto if more places accepted it.

>> No.7714555

>>7714293
>to only then cash back out to a centralised currency?
Wrong, bucko. I plan on holding so long that centralized currency dies out completely. Fiat currencies are a sick joke, and every day the general populace is becoming more and more woke.

>> No.7714607

>>7714293
NO I offer to sell my ponzi coins to people who are dumb enough to buy into a ponzi by trading the coins for ETH, because in this ponzi members aren't allowed to sell their coins, but since I'm not a member the people controlling to ponzi can't punish me because I don't actually have any coins to sell. I just take their ETH and invest into my crypto index funds and return their ETH back to them at a later date with some interest.

>> No.7714608

>>7714293
Yes, the trick is to be aware of this in order to cash out in time

ib4, muh new technology

>> No.7714615

>>7714293
Yep pretty much. Congrats, you’re aware of the Ponzi scheme.

Now, time to make as much money as you can while everyone praises muh blockchain technology.

>> No.7714654

>>7714456
Went back to fiat a few times to buy the swing. It was risky though, last time I did I lost around 15%.
No issues with living costs. Crypto is my plan B, I have a job that I like, I can afford to lose everything that I invested.

>> No.7714783

>>7714608
>>7714615
I honestly believe in the potential of blockchain. Not only as a currency, but as a mean to reduce corruption.
Maybe it'll die, maybe another more efficient technology will rise. For now, I'm in.

>> No.7714960

>>7714293
Yes. And if decentralized money becomes a meme enough to bring back old US ideals, even better.

>> No.7715063

>>7714783
You don't know what you are talking about, it's just a database

>> No.7715091

>>7715063
A transparent and immutable database.

>> No.7715104

>>7714293

Wow op it's almost like I can turn anything into it's simplest terms if I try hard enough. Anyways, the hope is to one day to be able to strictly use crypto for monetary needs. The only reason it is measured in fiat is because that is currently what the system recognizes as legal tender for all debts public and private. The moment crypto is adopted, you can bet everything will be priced in BTC, ETH, NEO, etc.

>> No.7715196
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7715196

>He's figured it out.
>Crash it.

>> No.7715394

>>7715091
You understand that the retarded mining process is needed to make sure that this whole piece of shit does not break down? Everyone who actually understands that tech and/or is working on it says that off chain solutions are the only why, because with the small usage at the moment the tech is already at it's peak.

And please, no that shit about bigger blocks, because this is the way into centralization.

It's fucking hard to argue with people, because most of the regards who are using buzz words like block chain, actually have no fucking idea what they are talking about.

>> No.7715679

>>7715394
That's why I mentioned more efficient technology. Energy is the key, and mining at a huge scale is a waste of energy. If nobody achieves better consensus methods, blockchain will die for sure.
Blockchain is still a young, immature technology. Give it time to prove (or disprove) itself.

>> No.7715718

>>7715394

>implying block chain isn't here to fucking stay

>> No.7715781

>>7715394
Forgot to add, I totally agree with you about retards throwing around "muh bigger blocks" "muh LN", without knowing what it's about.

>> No.7715803

>>7715781

LN is the only thing that BTC needs. waht the fuck are you talking about

>> No.7715875

>>7715394
My thoughts are the same on this matter. The tech is at its peak with regards to power consumption. And desu other than pedophiles, drugs dealers and NEETs ...nobody uses BTC or crypto. Imagine what happens if the tech were used on mass scale.

>> No.7715941

I feel as if 'blockchain' is like the early internet (LAN / Token-Ring) ....we have yet to see fibre optic with high speeds....its not been invented yet. I dont think blockchain is the answer.

>> No.7716044

>>7714341
This. Only a fool would cash out.
>b-but ATH... b-but I rich nao
Reinvest your gains and play for fiat irl. No way do you wanna sell when crypto is still in its infancy

>> No.7716080

>>7716044

>everyone knows what buttcoin is
>crypto is still in its infancy

>> No.7716139

>>7715803
>only thing
Honest question: Why?

>>7715941
It is early, that's why no one can say it's not an answer. Many people legitimately didn't believe in the internet in the 90s.

>> No.7716192

>>7716139

BTC will then be adopted as the main currency once LN proves itself

>> No.7716246

>>7716192
It does not answer my question.

>> No.7716298

>>7716246

Your question is why does bitcoin only need LN to succeed, right? You fucking queer?

That's the only thing that is holding it back

>> No.7716361

>>7716298
Don't you think it's a huge step back from decentralization as it is?

>> No.7716384

Protip kids: transparent blockchains are not money.

>> No.7716399

>>7716361

To be honest with you, I don't even know what the fuck lightning network is. I just like to spout random shit on here.

>> No.7716455

>>7716399
I mostly come here for the memes, and fudding random coins. Sometimes for discussing.

>> No.7716504

>>7716455

fudding is hilarious when they take the bait

>> No.7716826

>>7714607

Kys scamming pajeet faggot.

This is why Ethpyramid was created.

>> No.7716851
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7716851

>>7716080
>Reddit detected.

Go. Back.