Meet the anti-crypto crowd

TimtheEnchanter · Dec 16, 2020

padutrader said:
they have long cycle...but they will do a hundred times better than bank deposits in the long term[20 years and more]

btc goes against governments and no one can win in the long term against governments..short term governments are not bothered....unless there is a real threat to them until then they let people paly their games

Are you talking about metals or bitcoin. (or both)

AbbotAle · Dec 16, 2020

Pekelo said:
I could just make 21 million tokens with 1 laptop and declare it the new store of value. As long as people buy into it, it works just as well as bitcoin does.

Why not stop the talk and start to take action.

Create that new coin then report back to us is a year's time and tell us the price as well as how large you've managed to grow your new network.

AbbotAle · Dec 16, 2020

NoahA said:
Ok, sending money, fine, easy with bitcoin I suppose.

But her whole spin on computing? Who cares what happens with blockchain, Bitcoin is fixed. Its not like a bitcoin is going to solve my homework. Yes, phones did change everything, and Facebook for example quickly saw that their mobile users were growing much faster than those on a home PC. But they had to develop and work on their app. Its not like with Bitcoin, it can change and evolve and somehow provide computing power. Whatever happens with blockchain and how that evolves will not help Bitcoin if it falls out of fashion. Who is still using their first smartphone? I bet its been recycled by now. The value of that first iPhone is nothing, but the technology evolved. Likewise, the value of Bitcoin may very well turn out to be nothing, but the technology will evolve to a new and better digital currency.

The video was not about the smartphone, it was about the smartphone as a new platform AND then what was built on that new platform.

Same with the internet. That was the platform, and look what was built on it.

Bitcoin is the platform, the platform of being able to send and revceive VALUE. So what's going to be built on that? Nothing or something? Many people are betting on something which seems the logical bet versus nothing...

The world is fast heading into a massive digital revolution so you think a native digital form of value will be suited to that?

Anyway, here's a message to all Bitcoin holders, those who have done the hard work, those who have held on through the hard times - let's stop talking to these scratched records because we've tried to educate them via 10,000 posts and all they've come up with is the same tired arguments that have been proven incorrect and rebuked.

So instead, let's just say the following -

You have 2 choices with Bitcoin -

1. Understand it, or
2. Dismiss it

Choose wisely...

MrMuppet · Dec 16, 2020

AbbotAle said:
Why not stop the talk and start to take action.

Create that new coin then report back to us is a year's time and tell us the price as well as how large you've managed to grow your new network.

Dude, forget these morons. BTC new all time high, everyone celebrating while making a shitton of dosh, institutionals piling in, service providers piling in (https://uk.reuters.com/article/idUKL1N2IU1K0)
and they still are talking about how someday it will all go to shit.

They're probably not even old enough to remember the internet bubble but the crowd was just the same back then. A bunch of nay sayers who stayed poor because they were too lazy to learn about new things.

Just enjoy the fact that you have stacked a couple of satoshis and making money while you take a bath in these buffoons tears

EDIT: Before I forget it along the way: The CME will introduce ETH futures Q1 2021

H2O · Dec 16, 2020

AbbotAle said:
Bitcoin is the platform, the platform of being able to send and receive VALUE.

In my (limited) understanding of the asset class, blockchain (technology) is the platform - Bitcoin is a means of payment for validation of transactions on a blockchain. Therefore, Bitcoin, or the Bitcoin blockchain itself can be replaced by an infinite number of other crypto / digital currencies and / or blockchains.
What works in favour of Bitcoin is its 'first mover' / market share advantage, but ultimately if 'users' decide on another means to validate blockchain transactions (or if technical thresholds prove to become a hindrance on Bitcoin's blockchain), that would materially impact the price people are prepared to pay for Bitcoin.

Just my 2cts... I have no exposure to Bitcoin

MrMuppet · Dec 16, 2020

H2O said:
In my (limited) understanding of the asset class, blockchain (technology) is the platform - Bitcoin is a means of payment for validation of transactions on a blockchain. Therefore, Bitcoin, or the Bitcoin blockchain itself can be replaced by an infinite number of other crypto / digital currencies and / or blockchains.
What works in favour of Bitcoin is its 'first mover' / market share advantage, but ultimately if 'users' decide on another means to validate blockchain transactions (or if technical thresholds prove to become a hindrance on Bitcoin's blockchain), that would materially impact the price people are prepared to pay for Bitcoin.

Just my 2cts... I have no exposure to Bitcoin

Yes and no. The reason for BTC dominance is not its features but its size. Because the larger a decentralized network the more stable and safe from 51% attacks it is.

So you can technically copy or enhance BTC but as long as you don't replicate its number of users, nobody will care

Pekelo · Dec 16, 2020

AbbotAle said:
Why not stop the talk and start to take action.

It is already done, they are sitting in my laptop. But they come with the Pekelo Poop (tm).

How many would you like to buy?

AbbotAle · Dec 16, 2020

Pekelo said:
It is already done, they are sitting in my laptop. But they come with the Pekelo Poop (tm).

How many would you like to buy?

A negative 21million

longshort · Dec 16, 2020

AbbotAle said:
What you're missing is points like these - listen for a couple of mins from 31:10.

Bitcoin is like an iceberg so the majority only see the top 15% AND don't even realise there's 85% lurking beneath. This is why the funds and big traders are starting to buy, and have been buying.

The lady speaking is the lawyer that took down the Silk Road empire and is now a partner in Marc Andreessen's a16z, so a pretty big hitter in the tech industry. Buying Bitcoin is a quasi-long on people like Andreessen being right and that's a bet we should all take (him being right).

I listened as you suggested, let's see what we got.

1. Sending value online and decentralized: Flawed premise because there's no value to begin with.

2. Decentralized applications and computing platforms: There's no such thing as set-and-forget eternal computing where even the developers can't modify the application or its data. Obsolete by design and futile.

Just have a look at the most popular "dapps". CryptoKitties? Utter BS. Fomo3D? Gambling game garbage that has been hacked thanks to its flaws that are -- by design -- incorrectable (airdrop bug, transaction blocking bug).

If that's the innovation and revolution then sorry, there's nothing there.

MrMuppet · Dec 16, 2020

longshort said:
I listened as you suggested, let's see what we got.

1. Sending value online and decentralized: Flawed premise because there's no value to begin with.

2. Decentralized applications and computing platforms: There's no such thing as set-and-forget eternal computing where even the developers can't modify the application or its data. Obsolete by design and futile.

Just have a look at the most popular "dapps". CryptoKitties? Utter BS. Fomo3D? Gambling game garbage that has been hacked thanks to its flaws that are -- by design -- incorrectable (airdrop bug, transaction blocking bug).

If that's the innovation and revolution then sorry, there's nothing there.

You give me 2017 vibes here