Blockchain is Dangerous Nonsense

long said:
I don’t understand the people who bash BTC. I would understand if they said they weren’t interested, but the effort put into the OP and the follow comments is substantial. There are a few things that come to mind when I read posts like this.

1. You’ve been wrong about it so far and you’re trying to tear it down so you can say you were actually right

2. You think that the money that crypto has attracted should have been invested in the stock market. Maybe this could’ve improved your traditional investment portfolio. (The S&P would be higher if those funds had been invested there, forming a different bubble…)

3. You’re begging someone to convince you you’re wrong because you have FOMO but just can’t pull the trigger.

I doubt you’re putting so much effort into this for my benefit. If I truly believed that BTC was a dumb investment I wouldn’t waste my time debating. I’d move on with looking for good opportunities. Wasted time is wasted money.
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All of the above.
 
themickey said:
Ask anyone in the world in cities where they are suffering, is your access to bullets helping you?
They'll all say "No!"
It's a long story and sidetracking, so won't go into details here.
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I think thats accurate Mick,but in a societal meltdown situation with everyone in survival mode I think one would be glad of a firearm.

And then of course,if the S has really hit the F,it would aid with hunting too.

Bullets,batteries and bandaids is sort of a buzz phrase in the prepping community.
 
themickey said:
The same could be said of gold.
Gold has been traded for thousands of years, what is it good for other than vanity?
In times of war, wtf will gold do to save you? Don't say; "to sell it".
Is gold a store of value? It's totally useless other than what humans mentally value it at based on their immediate emotions.
Is gold a bubble? Yep, it's been hyped for years from bible times when they banged on about it and cultist believers believed.
Crypto has its uses, it will never replace old fashioned fiat money, but crypto is a niche which serves a purpose.
From my point of view, crypto is an excellent trading vehicle, no annual reports, no lying directors, no company fundamentals being manipulated, so no surprises.
All it takes is knowing how to trade. Very simple yet very complex for many.
One can win (or lose) money very quickly.
I love it!
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I like objective debate, so:

- Gold is an excellent conductor that can be used in electronics
- Of course is a store of value. I assure you, in case of war, gold will be accepted as always
- Gold is not a bubble for many many years ago. Any comparative chart will show you that.

Besides:
- If you lose your password, or been hacked, scammed..etc, you're done !!
- How exactly is the crypto niche superior to replace fiat money? decentralization only?

I don't deny that this made-up commodity has been an incredibly speculative vehicle, that had interesting reasons at the beginning, but some have changed for good. I may be wrong, but I believe the phase of sucking fresh money into this through hype will finish eventually, and you can bet that many giant hedge funds will have sold many ETF un unsuspected "gen-z investors"
 
johnarb said:
Yes, Bitcoin is the best money in the history of mankind, past present and in the future

Absolute provable digital scarcity backed by the most powerful computing network that is still growing

600 million trillion hashes per second of computing power secures the Bitcoin monetary network

Even if you combine all of the data centers of Google, Facebook, Amazon, Microsoft, Apple and all the data centers in world, they will not add to anywhere close to that computing network
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- Crypto scarcity? There are more than 20.000 crypto b.s coins out there and growing.

- In exactly how is superior to Fiat money network having more than X trillions hashes per second or the size of your network, if you don't compare them?

I don't deny the use of that technology for databases, special records..etc , but not as money. It can serve as another speculative vehicle, with more risks..if you lose your keywords, you're done, remember?
 
pstrusi said:
I like objective debate, so:

- Gold is an excellent conductor that can be used in electronics
- Of course is a store of value. I assure you, in case of war, gold will be accepted as always
- Gold is not a bubble for many many years ago. Any comparative chart will show you that.

Besides:
- If you lose your password, or been hacked, scammed..etc, you're done !!
- How exactly is the crypto niche superior to replace fiat money? decentralization only?

I don't deny that this made-up commodity has been an incredibly speculative vehicle, that had interesting reasons at the beginning, but some have changed for good. I may be wrong, but I believe the phase of sucking fresh money into this through hype will finish eventually, and you can bet that many giant hedge funds will have sold many ETF un unsuspected "gen-z investors"
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Something that may or may not be of interest:

Whilst Bitcoin and crypto seems to be everywhere and on everyones radar,ownership rates worldwide are still only at 2.74%.

It appears to me that it is still early days in terms of mainstream acceptance.

Similar,perhaps,to the advent of the internet,it requires something of a paradigm shift before mass adoption.
 
pstrusi said:
- Gold is an excellent conductor that can be used in electronics
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There are, and will be, myths which abound going into eternity.
Humans excel best as bullshit artists, everyone gets conned. :)

Silver has the highest electrical conductivity of all metals and cheaper. In fact, silver defines conductivity - all other metals are compared against it. On a scale of 0 to 100, silver ranks 100, with copper at 97 and gold at 76.

Due to cost, gold is not frequently used as a conductor.
 
semperfrosty said:
Something that may or may not be of interest:

Whilst Bitcoin and crypto seems to be everywhere and on everyones radar,ownership rates worldwide are still only at 2.74%.

It appears to me that it is still early days in terms of mainstream acceptance.

Similar,perhaps,to the advent of the internet,it requires something of a paradigm shift before mass adoption.
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Good observation, but I cannot help to think, you're right and it's in the early stage or the contrary, it has not convinced real money for many reasons. Many attractive reasons to buy it in the past have been gone and more non-attractive ones have been added.
 
pstrusi said:
Good observation, but I cannot help to think, you're right and it's in the early stage or the contrary, it has not convinced real money for many reasons. Many attractive reasons to buy it in the past have been gone and more non-attractive ones have been added.
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I’m too lazy to look it up. Is that 2.74% referring to the world population? Or is it referring to the world money supply or something?
 
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