Is crypto currency...

[Krull]

That's why you buy it when it was at the bottom. While you guys were busy laughing at the "Crash" I was buying as much as possible.

Psst. the gubment can't do anything about it.

The US gubment is one of the largest holders of bitcoin

 

[CrazyNutz]

The US gubment is one of the largest holders of bitcoin

Yeah, so? You think they will crash it? Will not make a shit, it will spring back up. It will just be on sell, and everyone will buy more.

 

[Krull]

Yeah, so? You think they will crash it? Will not make a shit, it will spring back up. It will just be on sell, and everyone will buy more.

Well they are one of the biggest holders...?

 

[CrazyNutz]

Well they are one of the biggest holders...?

Great. I could care less ?‍ My portfolio keeps getting fatter, and will for this whole year.

I guess come back when there's a short pull back so you can gloat for a few minutes before the next all time high

 

[Krull]

Great. I could care less ?‍ My portfolio keeps getting fatter, and will for this whole year.

I guess come back when there's a short pull back so you can gloat for a few minutes before the next all time high

The last crash was awesome. Enjoy the get rich quick scheme while you can

 

[JackBootedThug]

I'm currently mining cryptocurrency. It's currently making $300 per month with hardware I already had laying around. You should embrace the future Krull.

Bro…what does that mean? Mining?

 

[CrazyNutz]

The last crash was awesome. Enjoy the get rich quick scheme while you can

Ok, I will LOL

 

[CrazyNutz]

Bro…what does that mean? Mining?

Cypto (not all) is mined using hardware that generates hashes at a mega fast rate. When your hardware gets the number right it unlocks the next block, and you get the rewards.

Mining is also a way for the crypto network to be secured, so it's not just lottery.

 

[Krull]

Isn't all the hype surrounding bitcoin this time about some Blackrock bitcoin ETFs?

 

[CrazyNutz]

Isn't all the hype surrounding bitcoin this time about some Blackrock bitcoin ETFs?

Look at the chart I posted, that's all you need to know about BTC, and what/when it will do it. It's predictable. Just not everyone has caught on to it yet.

 

[Krull]

Look at the chart I posted, that's all you need to know about BTC, and what/when it will do it. It's predictable. Just not everyone has caught on to it yet.

The US gubment figured it out ?

 

[CrazyNutz]

The US gubment figured it out ?

We'll if they are smart they would sell that 200k worth of BTC in about a year and have $20,000,000,000.

Then wait for the bottom a year later, and buy 400k or more of BTC

 

[Krull]

We'll if they are smart they would sell that 200k worth of BTC in about a year and have $20,000,000,000.

Then wait for the bottom a year later, and buy 400k or more of BTC

Tax free too ?

 

[Laputan Machine]

Someone explain this to me:

Bitcoin is worth money because it is a finite thing that is currency
(Bitcoin is finite so once it's all mined there's none left IE digital gold)
People mine and horde Bitcoin based on the assumption it will always go up in price
Therefore, it makes absolutely no sense to use it as currency (why would you pay for something with Bitcoin if that Bitcoin will be worth more in the future if you hold on to it?).
Therefore, there is no purpose behind Bitcoin since it isn't actually a currency, it's a digital speculation, aside from it being the largest Ponzi scheme in history.

Where am I wrong? What happens when it's all mined? Won't the value default to 0?

 

[Krull]

Crypto in general is a great way to siphon people's cash. The crypto exchanges allow people to directly deposit their pay checks. What more could they ask for

 

[CrazyNutz]

Someone explain this to me:

Bitcoin is worth money because it is a finite thing that is currency
(Bitcoin is finite so once it's all mined there's none left IE digital gold)

So do you use gold as a currency? No, it's a store of wealth/value, and long term investment.

Pretty much what BTC has become. It started with the desire to be used as a currency, but has really just become the digital gold

People mine and horde Bitcoin based on the assumption it will always go up in price
Therefore, it makes absolutely no sense to use it as currency (why would you pay for something with Bitcoin if that Bitcoin will be worth more in the future if you hold on to it?).

Right, like I said it was initially intended as a currency, but the demand to buy/hold while it goes up make sense to not sell/trade it.

Therefore, there is no purpose behind Bitcoin since it isn't actually a currency, it's a digital speculation, aside from it being the largest Ponzi scheme in history.

The purpose is a store of wealth/value. It's a digital asset. Some of the largest companies in the world are so valuable only because of their digital assets. For example Microsoft Windows = Digital Asset.

Where am I wrong? What happens when it's all mined? Won't the value default to 0?

It will be the year 2140 before it's all mined up, so no need to worry LOL

But on the real, when things of value are more scarce, they become more valuable.

As for currency, you'll probably see other digital coins be used for currency.

 

[Laputan Machine]

But gold and Windows have functions, Bitcoin doesn't (if you admit it's not really a currency since the only reason it has value, is because there is the assumption it will increase in value which negates its use as a currency).

 

[Krull]

Bitcoin has no useful function. The crypto industry has gone through so many scams and yet people still keep coming back to it

 

[JackBootedThug]

The powers that be will not allow something like this to succeed unless they profit or control it. Look what quadafi planned to do with Libya. Put their currency on a gold standard and involve other African countries as well. That would have de stabilizing effect on the global economy. Everyone would want lybian denaris…or whatever the fuck they have. Hilary and her ilk weren’t having any of that shit.

 

[Krull]

The powers that be will not allow something like this to succeed unless they profit or control it. Look what quadafi planned to do with Libya. Put their currency on a gold standard and involve other African countries as well. That would have de stabilizing effect on the global economy. Everyone would want lybian denaris…or whatever the fuck they have. Hilary and her ilk weren’t having any of that shit.

One has to ask how the US gubment had such an extraordinary budget for 200K bitcoin...