Money doesn’t grow on trees. In the case of crypto, it came from the people who lost, or the people who are still in it
I don’t think there’s any hope for the people who are still in it. This 4-year cycle has already been quite disappointing than the previous ones, and there’s no reason for things to improve from here
It came from the people who lost, or the people who are still in it…
What are you talking about? You think gold or silver had to be “lost” in order to have value? No, that’s not where value comes from. All of you are speaking like you’ve never heard of an economy.
Cryptocurrency is an expanding currency market.
Just like gold, just like credit, just like stocks and bonds forex and futures.
As the market gets bigger and more people believe/invest/rely on it, the share one owns of a more valuable market gains value.
This 4-year cycle…no reason for things to improve from here.
More gibberish; there are plenty of reasons for crypto currency to continue to gain value.
National governments are creating digital cryptocurrencies.
Adoption of cryptocurrency is growing constantly.
Governments are investing heavily in existing cryptocurrencies.
There’s no functional difference, other than more recent and having more capabilities between cryptocurrencies and the “credit” system that everybody accepts as “normal”.
There’s every reason for a successful market to continue being successful while it has adoption, investment, development and use.
National governments are creating digital cryptocurrencies.
This matters a lot more than all that other shit.
Once something gets government backing there’s a guarantor of value for the currency because there will always be an entity that will accept it as payment (taxes, fees, fines, etc). That same entity is also capable of incredible amounts of violence, and can kidnap or even kill people who don’t pay those taxes, fees, fines, etc etc.
The problem with Bitcoin, or any independent crypto that isn’t created by a government backer, is that it only has value because people agree that it has value - they can change their minds whenever they want, and they can’t really enforce the value at the end of a gun.
When a government says a currency has value, they aren’t likely to change their minds and can shoot you if you disagree.
Those are several different ideas, so no, you’re wrong.
Money isn’t bad and making money isn’t immoral, which is the fundamental misunderstanding that many of you have. If you don’t like money, okay, but if Sandwich Guy 1 sells more sandwiches than Sandwich Guy 2, he makes more money.
There’s no moral judgment beyond your projection. He just has more dollars in his pocket because he sold more sandwiches.
Investor 1 invests before Investor 2, Investor 1 makes more money.
If you get a 50% head start in a race, you’re probably going to win.
It plays very much to your headstart line at the end of your comment.
It goes something like; You’re one passenger on a plane. The plane crashes. You and another person survived the plane crash. This is a deserted island with it’s only resource being coconuts.
This other person has awake from the crash much before you’ve awoken. This person has had the time to collect all available coconuts on the island and has secured them for themselves.
You’re dehydrating rapidly and plead for a coconut from this person to satisfy your thirst.
The person offers a coconut, in exchange for some sloppy toppy.
Who cares? You and all cryptobros are still people who will never have even a quarter of what the average baby boomer had at their age, like 7+ children, a home at 19 years old, economic stability, or at least a happy family of four without a college degree. Why? Are they smarter, work harder, or what?
And if they do, they’re just holding them warm for when the Mexican Cartels and bigger countries like China come to take everything they have. Rightfully so too. They suck, they deserve it for supporting a currency that empowered organized crime the most.
The baby boomers have more because they had to invest less up front in their generation.
Investors of all kinds have more money because they invested less by investing early. Circumstances change as time passes, and time is always running out.
you and…will never have even a quarter of what…
Speak for yourself, not for others.
You don’t have to be a genius, you have to pay attention to opportunities.
The fundamental insight that created capitalism and, in turn, socialism is that gold is not wealth, gold is what you use to trade wealth, which is ultimately the eponymous means of production.
BTC didn’t make a single penny of wealth. It’s just a different currency in a world with thousands. BTC actually decreases the wealth of the world by wasting effort and production on a solved problem.
You’re literally 250 years behind the curve set by The Wealth of Nations. It can be individually profitable to stick your wealth into BTC just as it can be individually profitable to trade 4X, but at the end of the day all the people with real money own businesses and land.
Not that they were right to think “money” is a zero sum game. You’re ultimately just both arguing that trading the shiny rocks is what creates value.
That you don’t like the assumptions behind your own words when they’re pointed out doesn’t stop them from existing, and that comment is pretty rich considering the context.
We’re talking about Bitcoin (which has no intrinsic value/usefulness) here. I didn’t realize that wasn’t clear, so I have now edited my comment to clarify that
More gibberish; there are plenty of reasons for crypto currency to continue to gain value.
Yes, cryptocurrency in general. Not Bitcoin specifically, the most antiquated, slowest, least sustainable one there is (you know, given that it was the first, unlike newer cryptocurrencies which were able to learn from its mistakes and make technological advancements, such as not requiring the power of an entire nation just to run them, and not taking some multiple of 10 minutes before the cashier can finally give you your coffee)
Money doesn’t grow on trees. In the case of crypto, it came from the people who lost, or the people who are still in it
I don’t think there’s any hope for the people who are still in it. This 4-year cycle has already been quite disappointing than the previous ones, and there’s no reason for things to improve from here
What are you talking about? You think gold or silver had to be “lost” in order to have value? No, that’s not where value comes from. All of you are speaking like you’ve never heard of an economy.
Cryptocurrency is an expanding currency market.
Just like gold, just like credit, just like stocks and bonds forex and futures.
As the market gets bigger and more people believe/invest/rely on it, the share one owns of a more valuable market gains value.
More gibberish; there are plenty of reasons for crypto currency to continue to gain value.
National governments are creating digital cryptocurrencies.
Adoption of cryptocurrency is growing constantly.
Governments are investing heavily in existing cryptocurrencies.
There’s no functional difference, other than more recent and having more capabilities between cryptocurrencies and the “credit” system that everybody accepts as “normal”.
There’s every reason for a successful market to continue being successful while it has adoption, investment, development and use.
Yes, even a new market(as all markets once were).
This matters a lot more than all that other shit.
Once something gets government backing there’s a guarantor of value for the currency because there will always be an entity that will accept it as payment (taxes, fees, fines, etc). That same entity is also capable of incredible amounts of violence, and can kidnap or even kill people who don’t pay those taxes, fees, fines, etc etc.
The problem with Bitcoin, or any independent crypto that isn’t created by a government backer, is that it only has value because people agree that it has value - they can change their minds whenever they want, and they can’t really enforce the value at the end of a gun.
When a government says a currency has value, they aren’t likely to change their minds and can shoot you if you disagree.
Yes, more financialization, more speculation, more debt leveraging. Fuck anyone who comes after my initial investment.
As long as I get mine amirite? We’re all doing it. Right?
Those are several different ideas, so no, you’re wrong.
Money isn’t bad and making money isn’t immoral, which is the fundamental misunderstanding that many of you have. If you don’t like money, okay, but if Sandwich Guy 1 sells more sandwiches than Sandwich Guy 2, he makes more money.
There’s no moral judgment beyond your projection. He just has more dollars in his pocket because he sold more sandwiches.
Investor 1 invests before Investor 2, Investor 1 makes more money.
If you get a 50% head start in a race, you’re probably going to win.
Have you heard of the coconut island analogy?
It plays very much to your headstart line at the end of your comment.
It goes something like; You’re one passenger on a plane. The plane crashes. You and another person survived the plane crash. This is a deserted island with it’s only resource being coconuts.
This other person has awake from the crash much before you’ve awoken. This person has had the time to collect all available coconuts on the island and has secured them for themselves.
You’re dehydrating rapidly and plead for a coconut from this person to satisfy your thirst. The person offers a coconut, in exchange for some sloppy toppy.
You gonna show them what that throat do? 🌴🥥
This sound like a fair system?
nope
Who cares? You and all cryptobros are still people who will never have even a quarter of what the average baby boomer had at their age, like 7+ children, a home at 19 years old, economic stability, or at least a happy family of four without a college degree. Why? Are they smarter, work harder, or what?
And if they do, they’re just holding them warm for when the Mexican Cartels and bigger countries like China come to take everything they have. Rightfully so too. They suck, they deserve it for supporting a currency that empowered organized crime the most.
Holy crap no, that’s the point.
The baby boomers have more because they had to invest less up front in their generation.
Investors of all kinds have more money because they invested less by investing early. Circumstances change as time passes, and time is always running out.
Speak for yourself, not for others.
You don’t have to be a genius, you have to pay attention to opportunities.
The fundamental insight that created capitalism and, in turn, socialism is that gold is not wealth, gold is what you use to trade wealth, which is ultimately the eponymous means of production.
BTC didn’t make a single penny of wealth. It’s just a different currency in a world with thousands. BTC actually decreases the wealth of the world by wasting effort and production on a solved problem.
You’re literally 250 years behind the curve set by The Wealth of Nations. It can be individually profitable to stick your wealth into BTC just as it can be individually profitable to trade 4X, but at the end of the day all the people with real money own businesses and land.
Not that they were right to think “money” is a zero sum game. You’re ultimately just both arguing that trading the shiny rocks is what creates value.
“You’re literally 250 years behind the curve set by The Wealth of Nations…”
You’re then if I am, since you’re repeating my point.
As for the rest of your crap, you’re conflating and reducing several comments from several people and misunderstanding mine as a result.
That you don’t like the assumptions behind your own words when they’re pointed out doesn’t stop them from existing, and that comment is pretty rich considering the context.
You’re debating your own assumptions rather than directly addressing my comments or clarifying what you don’t understand.
You’re going to find it very easy to argue against things you made up, but that won’t make your presumption relevant.
We’re talking about Bitcoin (which has no intrinsic value/usefulness) here. I didn’t realize that wasn’t clear, so I have now edited my comment to clarify that
Yes, cryptocurrency in general. Not Bitcoin specifically, the most antiquated, slowest, least sustainable one there is (you know, given that it was the first, unlike newer cryptocurrencies which were able to learn from its mistakes and make technological advancements, such as not requiring the power of an entire nation just to run them, and not taking some multiple of 10 minutes before the cashier can finally give you your coffee)
You were stuck on a single cryptocurrency, not me.
There are plenty of reasons for cryptocurrency to gain value.
Great work.