Bitcoin....who's gotten into it?

[neckdeep]

No doubt there are lot of crypto scams going on right now. But we're also looking at Web 3.0. There will be a lot of failures. But basically you're saying that Larry Page and Sergey Brin were a bunch of Menlo Park garage hacks that would never amount to anything.

Now you are trying to analogize speculating in cryptos with being an early investor in Google. That analogy is just plain wrong. Page and Brin's investors own Google stock (now Alphabet class A shares), which is a share in an ongoing profitable business. You own imaginary nerd gold. As has been repeatedly explained ad nauseum, Bitcoin is not a stock. It has no P/E, just a ridiculous P with no E.

To complete your analogy, if Bitcoin were Google, then using the Bitcoin search function would take up to two days and cost between $25 to $50. Think about it. Did Page and Brin revolutionize the flow of information and become megabillionaires with an extremely inefficient and expensive product? Does any company turn a big profit solely because many people are willing to pay an absurd premium to hide their searches from the tax man? Bitcoin is, at best, a niche product designed to facilitate secretive transactions. Before this speculative frenzy hit, the actual demand for Bitcoin as a service wasn't that impressive. Certainly nothing that would scale up like Google did. It is irrelevant anyway; you don't actually own equity in cryptos as a going concern. So what do you own? The new gold?

Babble on all you want about Web 3.0 but, in all seriousness, you are just drinking your own bathwater, dude. I'll say this one more time: Gold is a store of value precisely because there is no such thing as Gold 3.0 and there never will be. None of these cryptos are the new gold. Technology is not gold. Gold doesn't become obsolete. Gold doesn't become cheaper to produce over time. Gold does not compete with equally valid blockchains. Gold is a rare, specific atom thought to be created by the collision of neutron stars and scattered in infinitesimal proportions into the cosmic dust that created our planet. Blockchain tech just isn't that sort of rare, bro. (see video below)

In the long run, technology is just a tool. You guys are just buying boxes and boxes full of the newest, shiniest hammers. That is profitable only as long as enough suckers are convinced there is a dire shortage of hammers. Google makes its money by giving away hammers and charging to put advertising on them. Capiche?

Furthermore, Bitcoin is not helmed by a Page and a Brin. Quite the opposite, in fact. The more you learn about the mysteries surrounding the supposed founder of the bitcoin blockchain, the more it all seems like a giant scam.



For your edification. Best damn speech ever made about gold and it also has something to say about knowing when to quit.

[skaredshtles]

Maybe buy in again at 8k.

Make sure you go BIG this time around.

[ICantLogIn]

I survived the crash of 2018

[4matic]

It’s not a crash if the price was lower 60 days ago.

[Boomer28]

"Imaginary nerd gold"

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

Maybe my Uber drivers will stfu about it now...

Oh and the idea of a "market cap" for this garbage is laughable. I can 100% guarantee that the amount of crypto that people think they own vs. the true amount out there is a tad different...

[4matic]

IBM banging on $170 with a 4% dividend. That’s block chain technology for real.

[swissiphic]

Now you are trying to analogize speculating in cryptos with being an early investor in Google. That analogy is just plain wrong. Page and Brin's investors ..... etc.....

All good rationale, but who cares? Might as well dump money in on speculation cause even if u lose in the long run, the UNIVERSAL BASIC INCOME well save every tom, dick harry and jane from destitution and poverty once 60 percent of all jobs are eliminated due to A.I. and automation.

If cryptos go to the moon, you win.

If cryptos go to zero, UBI as a long term backstop.

In the meantime, set stop loss and cash out into Tether, bitusd, or sovereign hero on the dips, then buy low back into cheap alts when u feel comfortable.

Like Bob Marley sings: "don't worry, bout a thing, cause every little thing's gonna be alright."

[DBdude]

it will bounce up again, and then head lower

buy on the dips! laughing, just know when to get out - laughing some more

[digitaldeath]

megadoge worth $5873

[ICantLogIn]

It’s not a crash if the price was lower 60 days ago.

hmm good point.

[basinbeater]

IBM banging on $170 with a 4% dividend. That’s block chain technology for real.

I bought a some ibm a couple weeks ago. Should go nicely with my Nvidia.

[Kinnikinnick]

Now we’ll test the pockets of the vested BTC interests. Did they sell enough at the highs or have enough powder dry to defend the BTC 10000+ level?


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[digitaldeath]

bull trap?

[ICantLogIn]

Now we’ll test the pockets of the vested BTC interests. Did they sell enough at the highs or have enough powder dry to defend the BTC 10000+ level?


Sent from my iPhone using TGR Forums

Think we will ever see 10k again?

[digitaldeath]

Think we will ever see 10k again?

at 10.8 right now???


buy doges

[Dexter Rutecki]

Now you are trying to analogize speculating in cryptos with being an early investor in Google. That analogy is just plain wrong. Page and Brin's investors own Google stock (now Alphabet class A shares), which is a share in an ongoing profitable business. You own imaginary nerd gold. As has been repeatedly explained ad nauseum, Bitcoin is not a stock. It has no P/E, just a ridiculous P with no E.

To complete your analogy, if Bitcoin were Google, then using the Bitcoin search function would take up to two days and cost between $25 to $50. Think about it. Did Page and Brin revolutionize the flow of information and become megabillionaires with an extremely inefficient and expensive product? Does any company turn a big profit solely because many people are willing to pay an absurd premium to hide their searches from the tax man? Bitcoin is, at best, a niche product designed to facilitate secretive transactions. Before this speculative frenzy hit, the actual demand for Bitcoin as a service wasn't that impressive. Certainly nothing that would scale up like Google did. It is irrelevant anyway; you don't actually own equity in cryptos as a going concern. So what do you own? The new gold?

Babble on all you want about Web 3.0 but, in all seriousness, you are just drinking your own bathwater, dude. I'll say this one more time: Gold is a store of value precisely because there is no such thing as Gold 3.0 and there never will be. None of these cryptos are the new gold. Technology is not gold. Gold doesn't become obsolete. Gold doesn't become cheaper to produce over time. Gold does not compete with equally valid blockchains. Gold is a rare, specific atom thought to be created by the collision of neutron stars and scattered in infinitesimal proportions into the cosmic dust that created our planet. Blockchain tech just isn't that sort of rare, bro. (see video below)

In the long run, technology is just a tool. You guys are just buying boxes and boxes full of the newest, shiniest hammers. That is profitable only as long as enough suckers are convinced there is a dire shortage of hammers. Google makes its money by giving away hammers and charging to put advertising on them. Capiche?

Furthermore, Bitcoin is not helmed by a Page and a Brin. Quite the opposite, in fact. The more you learn about the mysteries surrounding the supposed founder of the bitcoin blockchain, the more it all seems like a giant scam.



For your edification. Best damn speech ever made about gold and it also has something to say about knowing when to quit.

Short version: $10,000 to go...

[stalefish3169]

Now you are trying to analogize speculating in cryptos with being an early investor in Google. That analogy is just plain wrong. Page and Brin's investors own Google stock (now Alphabet class A shares), which is a share in an ongoing profitable business. You own imaginary nerd gold. As has been repeatedly explained ad nauseum, Bitcoin is not a stock. It has no P/E, just a ridiculous P with no E.

To complete your analogy, if Bitcoin were Google, then using the Bitcoin search function would take up to two days and cost between $25 to $50. Think about it. Did Page and Brin revolutionize the flow of information and become megabillionaires with an extremely inefficient and expensive product? Does any company turn a big profit solely because many people are willing to pay an absurd premium to hide their searches from the tax man? Bitcoin is, at best, a niche product designed to facilitate secretive transactions. Before this speculative frenzy hit, the actual demand for Bitcoin as a service wasn't that impressive. Certainly nothing that would scale up like Google did. It is irrelevant anyway; you don't actually own equity in cryptos as a going concern. So what do you own? The new gold?

Babble on all you want about Web 3.0 but, in all seriousness, you are just drinking your own bathwater, dude. I'll say this one more time: Gold is a store of value precisely because there is no such thing as Gold 3.0 and there never will be. None of these cryptos are the new gold. Technology is not gold. Gold doesn't become obsolete. Gold doesn't become cheaper to produce over time. Gold does not compete with equally valid blockchains. Gold is a rare, specific atom thought to be created by the collision of neutron stars and scattered in infinitesimal proportions into the cosmic dust that created our planet. Blockchain tech just isn't that sort of rare, bro. (see video below)

In the long run, technology is just a tool. You guys are just buying boxes and boxes full of the newest, shiniest hammers. That is profitable only as long as enough suckers are convinced there is a dire shortage of hammers. Google makes its money by giving away hammers and charging to put advertising on them. Capiche?

Furthermore, Bitcoin is not helmed by a Page and a Brin. Quite the opposite, in fact. The more you learn about the mysteries surrounding the supposed founder of the bitcoin blockchain, the more it all seems like a giant scam.



For your edification. Best damn speech ever made about gold and it also has something to say about knowing when to quit.

“His find [of gold] represents not only his own labor, but 999 others to boot.” So do you think crypto currency just came out of thin air instantaneously? Of course not. It took the work of millions of humans completed over thousands of years. It’s the sum of efforts by mathematicians, engineers, philosophers, factory workers, etc. You keep saying Bitcoin, but you’re vastly over simplifying things. There are literally hundreds of cryptos, Bitcoin is just the most well-known…and for good reasons.

Other people in this thread recently mentioned IBM’s heavy bet on block chain. Did you know they’ve partnered with a token called Stellar Lumens to make international payments with very low fees in only several seconds? IBM itself reportedly has 1500 people working on block chain. Do you think the value of their efforts is imaginary?

I am making a big bet on a startup called Mobius tomorrow for their public ICO (initial coin offering). This will be the first ICO on the Stellar network. They are led by Stanford/Ivy League educated heavy hitters who just raised about 30 million in their ICO presale. Do you believe they think their work is worth nothing?

I get that gold is special, but you can’t send it in 3 seconds to someone on the other side of the earth. So in that respect, it is inferior to crypto. Bitcoin is also finite. Once all 21 million coins are mined around 2030, that’s it. But like I said earlier, Bitcoin doesn’t need to win at everything. There will be other winners as well, just as there are Dollars, Euros, Visa, MasterCard, Western Union, etc.

Finally, you need to give Satoshi a little more respect, man. He (They?) solved the double spend problem and to this day Bitcoin has still never been hacked. That’s pretty fucking incredible.

https://seekingalpha.com/article/413...tomania-upside

[Boomer28]

You keep saying Bitcoin, but you’re vastly over simplifying things. There are literally hundreds of cryptos, Bitcoin is just the most well-known…and for good reasons.

I"m gonna jump on this part right here: Why the fuck is any of them superior to another? More and more are being created with no end in sight, that alone should tell you something...just because it is "hard" and resource intensive to "mine" these things doesn't magically equal value.

BTW I so see real value in the concept of blockchain as an application to increase security & authenticity of many markets however these crypto derivatives and the concept of "worth" are super dubious...

[stalefish3169]

I"m gonna jump on this part right here: Why the fuck is any of them superior to another? More and more are being created with no end in sight, that alone should tell you something...just because it is "hard" and resource intensive to "mine" these things doesn't magically equal value.

BTW I so see real value in the concept of blockchain as an application to increase security & authenticity of many markets however these crypto derivatives and the concept of "worth" are super dubious...

What makes a Bugatti superior to a Kia? Lots of the new cryptos are shit and some are scams. Just like products in the "real" world.

Why do we have saws, drills, and wrenches? Why isn't every tool a hammer? Everything else is not nails.

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[Flyoverland Captive]

If mining coins is the carrot that keeps people running the software on which the block chain resides, what incentive will they have to keep the PCs running when the last coin is mined? Why use PC power and energy when you’re getting nothing in return?

[4matic]

I wouldn’t call IBM’s bet heavy and if a company were to choose a blockchain technology provider it probably wouldn’t be a startup. How do you know Mobius isn’t just a pump and dump?

[stalefish3169]

I wouldn’t call IBM’s bet heavy and if a company were to choose a blockchain technology provider it probably wouldn’t be a startup. How do you know Mobius isn’t just a pump and dump?

Because Jed McCaleb, the co-founder of Stellar and Ripple is on the advisory board, for starters. I doubt he would do that for a major ICO on his own platform if it was a pump and dump. Besides, I treat all my crypto money as something I can afford to lose. I'm not putting down 100k on margin.

[stalefish3169]

If mining coins is the carrot that keeps people running the software on which the block chain resides, what incentive will they have to keep the PCs running when the last coin is mined? Why use PC power and energy when you’re getting nothing in return?

They are supposed to get transaction fees as carrots after all the coins have been mined.

[Flyoverland Captive]

They are supposed to get transaction fees as carrots after all the coins have been mined.

Thanks for that.

Do you know what the fees will be, the number of estimated PCs running the software, etc? I’m curious if the fees offset the power costs per user with a little extra as profit. If not, PCs will go offline, maybe eventually driving up the fee per PC to an equilibrium where it’s profitable?

[stalefish3169]

Thanks for that.

Do you know what the fees will be, the number of estimated PCs running the software, etc? I’m curious if the fees offset the power costs per user with a little extra as profit. If not, PCs will go offline, maybe eventually driving up the fee per PC to an equilibrium where it’s profitable?

Tough to say at this point. It's not predicted to happen for over a decade. A decade in crypto time is like 100 years on the Gregorian calendar.