Crypto lounge thread

Blade Runner

Hummingbird
Orthodox
This is a classic example of the lack of critical thinking, all too often in the modern day, or possibly forever.
I'm curious as to why this concept, which is pretty basic and quite obvious, is such a stumbling block for most. Is it an example of how media shapes people's perception?

Fh3cqV4XkAQYghL
 

bucky

Hummingbird
Other Christian
This is a classic example of the lack of critical thinking, all too often in the modern day, or possibly forever.
I'm curious as to why this concept, which is pretty basic and quite obvious, is such a stumbling block for most. Is it an example of how media shapes people's perception?

Fh3cqV4XkAQYghL
Do you reckon BTC comes back stronger than ever in the next few years? I can't say for sure, but I'd guess so. I was thinking this morning how with the huge dip over the last year and now the FTX debacle, BTC is now in a similar place to where real estate was in about 2009. That is, an asset that until recently had been billed as a surefire thing that would only ever go up in value that suddenly looked like a foolish investment when the hype wore off. Look at real estate now though.
 

zoom

Kingfisher
Catholic
Gold Member
Do you reckon BTC comes back stronger than ever in the next few years? I can't say for sure, but I'd guess so. I was thinking this morning how with the huge dip over the last year and now the FTX debacle, BTC is now in a similar place to where real estate was in about 2009. That is, an asset that until recently had been billed as a surefire thing that would only ever go up in value that suddenly looked like a foolish investment when the hype wore off. Look at real estate now though.

I think the main difference is that real estate is a hard asset and everyone needs a place to live. Bitcoin is a digital coin that nobody needs for anything.
 

Blade Runner

Hummingbird
Orthodox
I think the main difference is that real estate is a hard asset and everyone needs a place to live. Bitcoin is a digital coin that nobody needs for anything.
I disagree. Real estate in the way you state it, in general, is "needed" by everyone. But it isn't owned by everyone, creating somewhat of a difference. While technically correct, there are many things in life that aren't needed at all, but that result in major advances in standard of living. BTC is part of that sphere. In that sense, your argument is largely irrelevant.
 

Blade Runner

Hummingbird
Orthodox
Do you reckon BTC comes back stronger than ever in the next few years? I can't say for sure, but I'd guess so. I was thinking this morning how with the huge dip over the last year and now the FTX debacle, BTC is now in a similar place to where real estate was in about 2009. That is, an asset that until recently had been billed as a surefire thing that would only ever go up in value that suddenly looked like a foolish investment when the hype wore off. Look at real estate now though.
I do, but the shakeout is drawing ever so close, very nearby at this point, and I don't think we've seen the maximum point of worry just yet. I'm in the inflation camp (it will continue) and I don't think "regulation" particularly hurts BTC either. Rather, both only help it get to new ATHs. There are many other qualities and aspects of the BTC investment, which can be viewed as a long term trade as well, that make it useful to all but certainly more useful to particular types of people.
 

Gimlet

Pelican
This is a classic example of the lack of critical thinking, all too often in the modern day, or possibly forever.
I'm curious as to why this concept, which is pretty basic and quite obvious, is such a stumbling block for most. Is it an example of how media shapes people's perception?

Fh3cqV4XkAQYghL
Bitcoin is an asset, crypto is a security. But they are spoken of as one in the same. Crypto is akin to buying stocks. (if anyone goes down over FTX, it will be the celebrity endorsers.) you don't really own anything. Bitcoin, you have purchased a "unit" on the block chain. You can prove it is yours. Simplistic difference.
 

Blade Runner

Hummingbird
Orthodox
Bitcoin is an asset, crypto is a security. But they are spoken of as one in the same. Crypto is akin to buying stocks. (if anyone goes down over FTX, it will be the celebrity endorsers.) you don't really own anything. Bitcoin, you have purchased a "unit" on the block chain. You can prove it is yours. Simplistic difference.
Yes, that millions don't understand, or are lazy when talking about, or both.

Which was my point.
 

Gimlet

Pelican
I am trying to provide a simple explanation for those who don't understand. Your graphic makes sense to people who already get the difference. I am trying to add some value back to the forum, not trying to debate or put you down in anyway
 
I think the main difference is that real estate is a hard asset and everyone needs a place to live. Bitcoin is a digital coin that nobody needs for anything.
Nobody needs gold. Aside from some highly specialized industrial devices, there is literally no use for gold whatsoever. It's incredibly hard to mine, very scarce, and so soft that it can't be used for nearly any functional. There are much better modern substitutes to use for the "beauty" of gold in Jewelry in fact, if you are wanting shine or color. Aside from being scarce and useless though, it has a very special quality of being the most malleable element on earth, and you can easily split any piece of gold into incredibly small fractions.

Gold's scarcity and divisibility made it an excellent unit of account. Its "use" as a unit of account made it valuable and societies that adopted properly it as such tended to advance much further than those that didn't. And you can bet in the early days it was incredibly clumsy and volatile to "value" this new unit of account.

Bitcoiners believe that BTC will fill the role of gold, but about 10x better. Time will obvioulsy tell if we are correct or not, but that is what we are "betting" on.

The "need" for bitcoin is the need for a better form of money and store of value. Again, time will tell if btc fills this role, but I personally believe it will.
 

zoom

Kingfisher
Catholic
Gold Member
Nobody needs gold. Aside from some highly specialized industrial devices, there is literally no use for gold whatsoever. It's incredibly hard to mine, very scarce, and so soft that it can't be used for nearly any functional. There are much better modern substitutes to use for the "beauty" of gold in Jewelry in fact, if you are wanting shine or color. Aside from being scarce and useless though, it has a very special quality of being the most malleable element on earth, and you can easily split any piece of gold into incredibly small fractions.

Gold's scarcity and divisibility made it an excellent unit of account. Its "use" as a unit of account made it valuable and societies that adopted properly it as such tended to advance much further than those that didn't. And you can bet in the early days it was incredibly clumsy and volatile to "value" this new unit of account.

Nobody needs gold. Aside from some highly specialized industrial devices, there is literally no use for gold whatsoever. It's incredibly hard to mine, very scarce, and so soft that it can't be used for nearly any functional. There are much better modern substitutes to use for the "beauty" of gold in Jewelry in fact, if you are wanting shine or color. Aside from being scarce and useless though, it has a very special quality of being the most malleable element on earth, and you can easily split any piece of gold into incredibly small fractions.

It seems that you don't know much about gold or its history as money. When I have more time I will address your points in the gold thread.

Gold's scarcity and divisibility made it an excellent unit of account. Its "use" as a unit of account made it valuable and societies that adopted properly it as such tended to advance much further than those that didn't. And you can bet in the early days it was incredibly clumsy and volatile to "value" this new unit of account.

Bitcoiners believe that BTC will fill the role of gold, but about 10x better. Time will obvioulsy tell if we are correct or not, but that is what we are "betting" on.

The "need" for bitcoin is the need for a better form of money and store of value. Again, time will tell if btc fills this role, but I personally believe it will.

I'm not against blockchain technology. You can integrate gold on the blockchain with gold-backed cryptocurrencies. There are several companies already doing this.
 
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Foolsgo1d

Peacock
BTC was pumped by free and easy money from you know who and turns out the scammers are shown to be bankrupt as much as their morals are.

Anyone who wanted to get into crypto is already in it and most people dont understand it, nor do they trust it. Even less now they have this going on but sure, I guess bag holders will try and get some hype going to try and get out.

Also more contagion is going to occur and the stench of corruption and greased palms will make even more regular people look on with disgust at the system of lies after a so-called clean up after the GFC. Or they will just have more mass shootings to ensure it doesn't reach normie eyes.

CBDCs are coming and BTC allowed it to happen.
 

Blade Runner

Hummingbird
Orthodox
The ClearValue CPA has some sharp videos on this, noting what I think most of us suspect - more quakes in the coming months from stable coin wars (USDC, Binance's, and USDT). You all know I'm a bitcoin maxi type, and I think this is pretty clear and we haven't reached max FUD. Why doesn't that matter? It presents an even better opportunity for us to take advantage of another huge run, so get that dry powder ready.
 

kurtybro

Woodpecker
Not really, but feel free to keep shooting from the hip there.

It really is stunning how little people know and yet at the same time insist on flapping. The typical criticisms of bitcoin are always extremely shallow, premised not on facts or logic but on feelings and beliefs. There *are* valid criticisms of bitcoin, because it's not perfect, but you'd be very hard pressed to actually see them discussed intelligently. And that actually goes for both maxis and detractors.

To the people crying doom, care to explain how FTX == crypto == BTC??

FTX literally has nothing to do with Bitcoin, Ethereum, Crypto, or anything. It was just plain theft of custodied assets. The Bankman literally could have been stealing peoples baseball cards, stamps, cars, whatever. He just chose to ride and exploit the crypto hype because its new, virtual and scales well, and yet people believe this is some kind of indictment of cryptos viability, let alone bitcoin.

What the average person believes is almost immaterial, remember the average person wore masks and begged for maximum jabs.

If the Bitcoin network is robust, then it will not only survive but actually thrive through these kinds of economic shocks -- that's what it was designed to do, you see its immutable, based on hard rules and cant be manipulated and alchemized like modern fiat psyop money...it's stomaching the short term volatility that's the hard part for alot of high time preference normies. It is after these economic shocks that more and more people will realize that it's the real deal and all of these scammy wall street financialization schemes built on top of it are superfluous and just trying to fleece you, exploiting your greed at best. If you dont know what the actual strengths of Bitcoin are, then you'll be tempted to panic sell it when its down, or leave it on an exchange earning 3%. Provide liquidity on lightning network if you want a yield on your BTC.

There are parallels to the beer flu -- as time goes on MORE people wake up, not less. It's going in one direction...nobody who's awake is going back to sleep, the numbers continue to grow because truth has a way of exposing itself despite ongoing efforts to suppress it. If people actually cared about pesky things like onchain data they'd know that the Network is growing with time. Then you have the other cohort that are waiting in the wings for any bad news so they can shit on it because of their anger at not getting in early because they dismissed it, usually multiple times .
 
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