Mark Cuban on cryptos

Pekelo · Nov 10, 2017

I usually agree with him, and of course I do in this interview too. Why should we listen to him? Well, for one he is a billionaire and we are not, second, he is overall a smart guy.

http://www.futuresmag.com/2017/10/17/mark-cuban-talks-investments

" I have invested in blockchain and a fund that invests in blockchain. I’ve been a proponent of blockchain for a long time. So nothing has changed. The value of bitcoin is completely a function of supply and demand."

Moon · Nov 10, 2017

Regardless of what he says, just because he's a billionaire doesn't mean he's right. Biases are bad. He also said the stock market would crash if Trump was elected. He said diversification was stupid. He also said buy and hold was a terrible strategy. Not discrediting his success but just because someone is a billionaire doesn't mean they are always right..

Pekelo · Nov 10, 2017

Moon said:
Regardless of what he says, just because he's a billionaire doesn't mean he's right.

We know that since we have a billionaire for president.

Nevertheless you attacked the messenger instead of his argument. That is a big logical fallacy and gets you an F in high school debate class. Care to try again?

Moon · Nov 10, 2017

Pekelo said:
We know that since we have a billionaire for president.

Nevertheless you attacked the messenger instead of his argument. That is a big logical fallacy and gets you an F in high school debate class. Care to try again?

Not attacking anyone. I'm not sure why you are offended. I'm just stating my opinion.

Cuddles · Nov 10, 2017

No matter what anyone says, I've never seen a commodity/asset not follow supply and demand.

Which really is a bit of a cop out, as I'm not sure if he addressed his reasons for the demand (didn't read interview).

Pekelo · Nov 10, 2017

Moon said:
Not attacking anyone. I'm not sure why you are offended. I'm just stating my opinion.

Instead of dealing with what Cuban said, you tried to undermine his credibility. Argue against his opinion, what was: BTC's value is based purely on supply and demand.

Pekelo · Nov 10, 2017

Here4money said:
I've never seen a commodity/asset not follow supply and demand.

OK, maybe it was just me, but I interpreted what he said this way: there is nothing else behind BTC's value except the supply and demand of the buyers/sellers. So that is its only value. Furthermore:

https://www.cnbc.com/2017/06/29/mar...-plans-to-invest-in-another-digital-coin.html

Moon · Nov 10, 2017

Pekelo said:
Instead of dealing with what Cuban said, you tried to undermine his credibility. Argue against his opinion, what was: BTC's value is based purely on supply and demand.

I wasn't undermining his credibility at all. You are really taking my previous comments out of context. All I was trying to get across is that one should not have a bias towards listening to an individual and assuming he is correct because his status of being a billionaire.

Cuddles · Nov 10, 2017

Pekelo said:
OK, maybe it was just me, but I interpreted what he said this way: there is nothing else behind BTC's value except the supply and demand of the buyers/sellers. So that is its only value. Furthermore:

https://www.cnbc.com/2017/06/29/mar...-plans-to-invest-in-another-digital-coin.html

I think, no doubt that is a big part of it, but what else is there to gold, gems, hell, even artwork?

henry76 · Nov 11, 2017

There is a huge difference in that physical things are just that physical , they are finite , in a sense crypto's are potentially infinite in number , you get the weird feeling they could be worth millions in the future , or just about nothing at all , if you do a deal in crypto's it doesn't matter if you buy and sell a million to complete the deal or just one , all that matters is the $value and that seems very arbitrary.