People's attitude is changing towards cryptos

KCalhoun said:
I still don't get it. Crypto is some made up shit without any place in reality. It's like money in a video game like GTA5 lol. Nothing backing it, uninsured, not regulated. It's like people made up funny money and called it real.

Imagine trying to explain it to grandparents. They'd shake their heads and say what happened to common sense. Just because somebody made this stuff up, like money in some big online video game, doesn't mean it has genuine value. It's cultish. I'm a 164 iq somewhat smart person but frankly I don't get crypto. Good luck with it though. :D

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What is a value of something that is printed and controlled by the govt and subject to its mutable policies? Today it might have value and lose it tomorrow. Isn't Gold better for storing value than printed money? What would grandparents say to that?
 
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Dan Pena was talking about Bitfuck, not Bitcoin though :D

Another thing, he said, "sell half".

Ok, so why sell only half when he is so sure it's going to zero? Did he want to give himself an out for when Bitcoin goes to 100K in 3-5 years?
 
gkishot said:
Today it might have value and lose it tomorrow.
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That's what is happening with crypto's for many years now. The risks in crypto's are far bigger than the risks in the major currencies. Not a single major currency has ever 70-80% losses of value within 12 months like BTC or other crypto's.
 
virtusa said:
That's what is happening with crypto's for many years now. The risks in crypto's are far bigger than the risks in the major currencies. Not a single major currency has ever 70-80% losses of value within 12 months like BTC or other crypto's.
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virtusa said:
That's what is happening with crypto's for many years now. The risks in crypto's are far bigger than the risks in the major currencies. Not a single major currency has ever 70-80% losses of value within 12 months like BTC or other crypto's.
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Stock indexes can also lose 40-50% within 12 months but they are considered of better value than cash in the long run. And GBP lost to dollar almost 50% within 12 years. Would you say that dollar was better for storing value than GBP 12 years ago? As far as I can tell the less the asset depends on the centralized govt the better it is for storing value. Prove me wrong.
 
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gkishot said:
As far as I can tell the less the asset depends on the centralized govt the better it is for storing value. Prove me wrong.
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The Swiss franc is completelly controled by their government. Watch a chart to see the evolution of their value against any other currency.

The Russian rouble is completelly controled by their government. Watch a chart to see the evolution of their value against any other currency for the last year.

These two examples show that your logic is not correct. There are a lot of factors that determine the value of a currency.
 
virtusa said:
The Swiss franc is completelly controled by their government. Watch a chart to see the evolution of their value against any other currency.

The Russian rouble is completelly controled by their government. Watch a chart to see the evolution of their value against any other currency for the last year.

These two examples show that your logic is not correct. There are a lot of factors that determine the value of a currency.
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The Swiss central bank had held interest rates at -0.75% since 2015. As any other currency Swiss frank is losing its value over time.
 
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It is not going to zero, neither it is going to 100K. It will be slowly degrading down with an occasional dump and jump, that would be fairly quickly corrected.

A year from now we are nicely below 15K...

If in the next 5 years they can't invent something significantly better, then cryptos should be cremated as useless.
 
deaddog said:
How have you made out as a bitcoin owner? Have you taken advantage of the violent swings?
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Been thinking how and if I should reply to deaddog and virtusa but I will just repeat what I have said several times in past threads over the years and I have been severely criticized by ETers for this viewpoint. To me Cryptos are like the family jewels, to be held as a hedge when this fragile financial system of the world finally takes a dive and inflation reaches the hyper level.

What I don't get is why the majority of ET takes such an arrogant prideful viewpoint of bashing Crypto, like they are the smart ones and the ones that got rich off it are the dumb ones Now as a new opportunity may emerge for entry in the next 6 months ETers with puff out their chest about how smart they were instead of recognizing the new opportunity that is presented to them.
 
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