Cryptocurrency

[Fluminator]

If it takes off, the bankers will be the ones who lose money, which I'm okay with haha.
Speaking of which, it's crashing quite a bit right now which is always exciting as it means it's almost time to buy again! :D

[ND]

Glad that I got out of Rip when it was at 3 dollars lol. Anyway, my new investments took a hit with the crypto bloodbath this week, but not selling out until they meet my milestone targets. Will invest more money when I get paid 1st of february.

[Stressedlines]

I had been holding most of my money in y USD wallet on coinbase, cuz I was out of pocket for a bit Lucky only on that one, as this thing crashed hard...lol

I started buying back into REQ, but after their announcement, not sure that was a good move for me.

[Fluminator]

Bump two years later. We've come a long way.

[Fluminator]

Bitcoin just passed the 50k mark (CAD)
Is it here to stay or just another bubble?

I feel like even if it corrects it's never going to 0 at this point.

[Fluminator]

We might have our answer soon! Just dropped a few thousand. Will it continue?

[bo_sox48]

Probably will, because I can't access my wallet due to "connection issues" and I assume I'm not the only one lmao

[goldfinger0303]

Cryptocurrency still confuses me. Then again people that hold gold confuse me, but at least gold can be sold to create jewelry or something.

No sane business would conduct transactions using bitcoin, and it has no other use than a designed-to-appreciate asset.....which just has "Bubble" stamped all over it

[Fluminator]

I know you work at a bank goldie lol. Eventually you have to cede that your overlords are losing ground in the war.

[gimix]

I know you work at a bank goldie lol. Eventually you have to cede that your overlords are losing ground in the war.

So one day we'll find Cryptofinger0303 replaced Goldie?

[Tom Bombadil]

Cryptocurrency still confuses me. Then again people that hold gold confuse me, but at least gold can be sold to create jewelry or something.

No sane business would conduct transactions using bitcoin, and it has no other use than a designed-to-appreciate asset.....which just has "Bubble" stamped all over it

Gold has virtually no “value” either. You bring up jewelry, but jewelry is essentially a way to display wealth. You can make fake gold jewelry that is “worthless” yet nearly identical to gold jewelry. So jewelry is a really poor example. Both gold and crypto are similar in that they are finite.

[goldfinger0303]

I know you work at a bank goldie lol. Eventually you have to cede that your overlords are losing ground in the war.

I've never worked at a bank. Few years ago I was a bank regulator, but long since moved on.

Gold has virtually no “value” either. You bring up jewelry, but jewelry is essentially a way to display wealth. You can make fake gold jewelry that is “worthless” yet nearly identical to gold jewelry. So jewelry is a really poor example. Both gold and crypto are similar in that they are finite.

Uhhh, gold has a ton of value for use in electronics, avionics, and spacecraft. Its an incredibly useful material due to its atomic properties. Yeah jewelry and bullion outpace its use by a wide margin, but its not an inherently useless metal.

[Fluminator]

Nobody actually uses gold for that though

[MajorMitchell]

I waited until the discussion reached a third page of posts & have read all posts to this point.
Maniac's posts have earnt him a Credit mark by Ethical Free Ranging Laissez-faire Capitalist Marketeer Daffy Old Dusty Balzac Bush Philosopher who lectures on this stuff.
Distinction mark for Peterlund.
Credit mark for Nearly Omniscient kestasjk and please note, Nearly Omniscient Kestas that I was first to give your post a +1.
A high pass for DipComrade Octaviouski our Oracle, liked the simple.disguised band grenade question in.his opening volley. The follow through, well it was adequate but nothing.like what this Student is capable of producing when he applies himself.

Clearly crypto currencies are a highly speculative venture with return patterns that reminds a chap of a bent card game in East Berlin in 1947. Everyone is pushing the ethical boundaries & greed is the primal motivation, and whilst a few may do well, many will get burnt.

A total avoidance strategy is quite sound, there's countless ways to invest and gamble. A ruthless sceptical intellectual dissection of all investments and wagers is essential if a chap wants to come out with a ledger showing nice black surplus amounts and not ghastly red losses as evidence of stupidity. There is of course a notable exception to this Axiom, and it simply is this, unless the investment or wager is connected with a woman with whom the investor/gambler has romantic inclinations and desires.

When investing in a Tea Shop or Art Gallery for, or any other financial transactions with a "Beautiful young Lady friend" most economically rational principles must be abandoned and a simple decision made about a defined total dollar amount exposure/expense for the venture with no expectations of financial return, the returns are usually less tangible provided contraceptive preventative measures are effective.

[Matticus13]

@EstonianLongDong: How long is your Eastern European dong? Doing an informal study comparing actual dong size of people using dong in their user name. So far, the dongs are... Not so long.

[kestasjk]

Credit mark for Nearly Omniscient kestasjk and please note, Nearly Omniscient Kestas that I was first to give your post a +1.

Well I thought people were nuts when bitcoin was booming last and some said "I'm waiting for it to hit $20k" when it was at a mind-boggling $10k, so not so omniscient unfortunately.

I'm sure there's a looot of money laundering / drug trafficking / overcoming currency restrictions in china going on which is helping to prop up the value, but who knows where it'll end up :|

[MajorMitchell]

DipComrade Goldfinger, you are well aware that gold is used in Electronics, Aerospace industries? Like platinum, titanium there are many niche uses for gold in our technologies.

[MajorMitchell]

I'm content to miss out on unlikely Bonanza outcomes to avoid damaging losses in the crypto currency caper. I'm confident that I have a better chance to aquire Adoration, Fame & Wealth as a Performing Comedic Artist, Dusty Balzac Bush Philosopher. It might not be much of a chance, but it's more likely than trading in crypto currencies imho

[Fluminator]

I guess we'll see. It's been around for quite awhile now that the risk of it dropping to 0 is minimal. After the whole GME debacle and people realize how fake money really is, this thing is really going to pump up. Paired up with Elon Musk now transferring over to it, and likely many more CEOs jumping on too, it's here to stay a bit longer at least.

[Fluminator]

6 months later, still only at 50k American.
That Cardano increase though