Even if these assets have these characteristics and the value that comes from them(and in this post I don't want to address the subject), humanity has the habit to value physical things more than imaginable things. How can it be that some "mathematical computations" would rise in price 67999899.99999999%? You cannot eat them, you cannot sleep in them and their value to humanity would be the same with a rise in price of, lets say 3000%, 5000%... It is unnatural, unsustainable and it is coming to an end, coinciding with the peak(for the time being) in growth stocks and other riskier assets. Do you think Bitcoin loses its value and purpose if it trades at $50(if by its technology and by economic forces it was possible)?
Crypto bosses keep resigning
- Thread starter Pekelo
- Start date
Recognized pieces of Art do this all the time. It's just a bunch of "paint strokes". How can the Monolisa keep inflating over time?!
You most certainly sell your BTC and sleep in a Holiday Inn if you wish, or purchase food. What are you talking about again? You are getting more confusing...
There used to be people like you totally against the trend and rise of the auto-mobile, the rail-roads long before that, and even the first steam-powered engines before that. Some people just do not have the brain-capacity to see the modern trends in the world if they are less than at least two generations old.
Perhaps you should move on and stick to buggy-whip equities.
They are all tangible things. Also, quite useful. By the way, it isn't the usefulness what most people oppose about cryptos but the incredibly high and unjustified valuation and energy waste, beside other things.
But going back to the topic, if everything is hunky-dory in cryptoland and this is the future, why are all these bosses leaving ship? Don't they wanna be part of the new new world order or something?
Is there actually a valid point to this?
Agreed. Crypto and other inventions are useful, that's the whole point in creating them...
Since PoS, this is a pointless argument. And as I have stated long before, PoW is a dead-end-tech. Even Vitalik knew this from the start of his project. Which is why PoS was the end-goal for Ethereum, just like 99.9% of other cryptos. PoW was laid out first to get the initial phases onboarded quickly.
This is quite an over-exagerration. Every blue-chip company, regardless of how big or how profitable or how great the future it will have, goes through MULTIPLE CEOs in its tenure. This happens EVERY SINGLE DAY when looking at the S&P indexes.
Yeah. If I turn electricity off, crypto disappears. My steampunk coffee machine still operates.
Forgive me if I don't take you seriously...
If you were to turn off the world's electricity, no ATM will give you FIAT money.
So what does this silly analogy prove? I think we are still scraping the bottom of the barrel here...
You are free to turn off your own electricity. So what? Your info is still on the ledger.
If the whole world succumbs to a massive EMP attack, all servers and wallets are wiped clean, so there is no crypto, no electronic fractional banking, no nothing.
There is just the paper cash in yer wallet, gold, food and ammo/guns. That's it. That is all there is left.
Better invest in a horse while you can!
Aside from 900-Sigma extreme long-tailed risks that would destroy most living things on the planet... I suppose the most likely scenario to cause this cosmic EMP attack that would be currently plausible at this time and with a much higher probability is:
Putin orders armageddon. Russia's subs release all their ICBMS from the coasts. And then some...
Due to redundancy, too many hit and the world goes through a full EMP swing... or maybe the West launches their ICBMs also after seeing Russia's birds start flying first. Regardless...
While it is POSSIBLE--- and even then I am not so sure you can bet on crypto getting simply wiped here... what is REALLY important, is that in long-tailed risks like this, what does it matter when any human who is still living is shacked up in under-ground cuban-crisis-bunkers, and eventually the oxygen will run out... their teeth will fall out, and they will bleed when they go to the bathroom. Life-expectancy, 2-weeks to 2-months if you weren't instantly vaporized.
Now, this is the point where some village idiot is going to call me out on this, because they are sure that some billionaire somewhere has a 2-meter dome of solid lead built around his palace and an infinite supply of resources just for this kind of swan.
Putin orders armageddon. Russia's subs release all their ICBMS from the coasts. And then some...
Due to redundancy, too many hit and the world goes through a full EMP swing... or maybe the West launches their ICBMs also after seeing Russia's birds start flying first. Regardless...
While it is POSSIBLE--- and even then I am not so sure you can bet on crypto getting simply wiped here... what is REALLY important, is that in long-tailed risks like this, what does it matter when any human who is still living is shacked up in under-ground cuban-crisis-bunkers, and eventually the oxygen will run out... their teeth will fall out, and they will bleed when they go to the bathroom. Life-expectancy, 2-weeks to 2-months if you weren't instantly vaporized.
Now, this is the point where some village idiot is going to call me out on this, because they are sure that some billionaire somewhere has a 2-meter dome of solid lead built around his palace and an infinite supply of resources just for this kind of swan.
Lead doesn't protect against EM energy. Their wallets are wiped out as well.
I am referring to the reason why Ruskie subs had so much leaded walls in their engine rooms on nuclear powered submarines. We were talking about radiation poisoning here. Something that people were well aware of since the cuban crisis up to the collapse of the soviet union. Now everyone seems to have forgot that...