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Campfire Regular
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Campfire Regular
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I am thinking the ones bitching about Bitcoin are the same ones that will be crying about bitcoin when the last Bitcoin is mined. Ray
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Joined: Dec 2002
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Campfire Outfitter
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Campfire Outfitter
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It seems to be going crazy as faith in other assets, like the dollar, decreases. Just asking. Absolutely not. Bitcoin has no intrinsic worth. It has no real-world existence. Gold exists in reality and it has properties that humans have learned to use for several thousand years. Folks may speculate over both, but Bitcoin's value could drop to zero. Read up on the Dutch Tulip Craze and get back to me.
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Joined: Nov 2003
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Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
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I am thinking the ones bitching about Bitcoin are the same ones that will be crying about bitcoin when the last Bitcoin is mined. Ray Who is “bitching “ here ?
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
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It seems to be going crazy as faith in other assets, like the dollar, decreases. Just asking. Absolutely not. Bitcoin has no intrinsic worth. It has no real-world existence. Gold exists in reality and it has properties that humans have learned to use for several thousand years. Folks may speculate over both, but Bitcoin's value could drop to zero. Read up on the Dutch Tulip Craze and get back to me. How about ‘paper gold ‘ , Shaman? How many people do you reckon hold physical gold? Do you ? Has gold ever been confiscated? F’k a bunch of tulips! Grins
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Jan 2017
Posts: 216
Campfire Member
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Campfire Member
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Posts: 216 |
Lots of big players are lining up to use Hederas DLT. Faster, more secure and less expensive. BTC purists complain it's not decentralized enough. If the world has taught us anything, the Big Boys rarely lose. Hedera is their ecosystem.
PS- it's a long hold for me. Not something to swing on 20% pumps. Buy and hold, buy and hold.
Last edited by b_li_ber_tar_ian; 02/17/21.
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Campfire Ranger
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OP
Campfire Ranger
Joined: Mar 2008
Posts: 15,638 |
OK, seriously, educate us. On what? The Dutch tulip bubble lasted a matter of weeks. People were trading futures contracts on tulip bulbs yet to be grown and the market went crazy. It boomed and busted in such a short time frame no actual bulbs could be delivered. Bitcoin, by contrast, has been available to the public for 12 years, and on commercial public exchanges for 10. So it usually goes: BTC $5: This is tulips! BTC $50: This is tulips! BTC $500: This is tulips! BTC $5,000: This is tulips! BTC $50,000: This is tulips! And so on. Buy it or don't, but posting nocoiner cope is just sad. Are you saying it is not a bubble because it has gone on for longer? There have been some pretty long bubbles, the biggest I know of being the national debt.
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Campfire Ranger
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Campfire Ranger
Joined: Mar 2008
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OK, tell us what makes it intrinsically valuable.
I never claimed BTC has Intrinsic Value. Like gold, Bitcoin does not generate a cash flow therefore it is not possible for it to have Intrinsic Value. And I won't be sparing anyone anything they've earned. The guy I quoted didn't even understand the article he linked yet he felt compelled to reveal that by posting to the thread. People like him should be asking questions, not answering them, and I believe that if more people pointed out dumb people they'd go back into hiding and the signal to noise ratio of the entire internet would increase. No one said you claimed it had intrinsic value, that is my question. I do however reject your assertion that something has to create cash flow to have intrinsic value. Witness, a loaf of bread, no cash flow, real intrinsic value. And the question remains. Where is the intrinsic value?
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Joined: Apr 2010
Posts: 20,683
Campfire Ranger
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Campfire Ranger
Joined: Apr 2010
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I’ve missed out on some ginormous gains due to my not liking to invest in things I don’t understand.
Had a friend my age ask me 5 years ago or so what I thought of bitcoin 🤔 I’m like wtf what do I think about quantum mechanics, I’m too dumb to have an opinion on either.
He was going to buy some. I need to call him & find out if he did & if so if he’s still holding or sold already.
Only other guy I knew to ask was my computer & network guy, a kid 23 years old at the time who’d done network maintenance for our University & was currently working for the hospital. Btw he did my stuff as a favor as I’d known the kid since he was born, I had less troubles w my puters & networks under his management than I ever did when using “pros” in our area. He’s a sharp kid. I of course insisted on paying him a third more than what he charged me initially.
He tried to explain it to me, but I just couldn’t grasp the concept enough to take the plunge. 🤦🏼♂️
Don’t recall what the price was in 2016, but it was well south of 40K. Damn it hurts to be dumb
I'm pretty certain when we sing our anthem and mention the land of the free, the original intent didn't mean cell phones, food stamps and birth control.
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Campfire Ranger
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Campfire Ranger
Joined: May 2003
Posts: 16,971 Likes: 1 |
For me the hilarious part is people thinking that the money is untraceable, in order to use DLT (the underlying fabric for bitcoin) you have to an a account somewhere.
So if you have an account - trust me, they know who you are.
Internet inventors people aren’t the smartest crowd of anarchists I’ve ever run into.
Last edited by Spotshooter; 02/17/21.
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Campfire Tracker
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OK, tell us what makes it intrinsically valuable.
I never claimed BTC has Intrinsic Value. Like gold, Bitcoin does not generate a cash flow therefore it is not possible for it to have Intrinsic Value. And I won't be sparing anyone anything they've earned. The guy I quoted didn't even understand the article he linked yet he felt compelled to reveal that by posting to the thread. People like him should be asking questions, not answering them, and I believe that if more people pointed out dumb people they'd go back into hiding and the signal to noise ratio of the entire internet would increase. No one said you claimed it had intrinsic value, that is my question. I do however reject your assertion that something has to create cash flow to have intrinsic value. Witness, a loaf of bread, no cash flow, real intrinsic value. And the question remains. Where is the intrinsic value? If you've read this whole thread and still don't get it, its probably not for you.
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Joined: May 2009
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Campfire Tracker
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Campfire Tracker
Joined: May 2009
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OK, tell us what makes it intrinsically valuable.
I never claimed BTC has Intrinsic Value. Like gold, Bitcoin does not generate a cash flow therefore it is not possible for it to have Intrinsic Value. And I won't be sparing anyone anything they've earned. The guy I quoted didn't even understand the article he linked yet he felt compelled to reveal that by posting to the thread. People like him should be asking questions, not answering them, and I believe that if more people pointed out dumb people they'd go back into hiding and the signal to noise ratio of the entire internet would increase. No one said you claimed it had intrinsic value, that is my question. I do however reject your assertion that something has to create cash flow to have intrinsic value. Witness, a loaf of bread, no cash flow, real intrinsic value. And the question remains. Where is the intrinsic value? If you've read this whole thread and still don't get it, its probably not for you. 🤣
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Joined: Mar 2008
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Campfire Ranger
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OP
Campfire Ranger
Joined: Mar 2008
Posts: 15,638 |
OK, tell us what makes it intrinsically valuable.
I never claimed BTC has Intrinsic Value. Like gold, Bitcoin does not generate a cash flow therefore it is not possible for it to have Intrinsic Value. And I won't be sparing anyone anything they've earned. The guy I quoted didn't even understand the article he linked yet he felt compelled to reveal that by posting to the thread. People like him should be asking questions, not answering them, and I believe that if more people pointed out dumb people they'd go back into hiding and the signal to noise ratio of the entire internet would increase. No one said you claimed it had intrinsic value, that is my question. I do however reject your assertion that something has to create cash flow to have intrinsic value. Witness, a loaf of bread, no cash flow, real intrinsic value. And the question remains. Where is the intrinsic value? If you've read this whole thread and still don't get it, its probably not for you. Maybe you can explain where the value comes from. I am usually pretty good with plain English.
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Joined: Oct 2010
Posts: 7,705 Likes: 5
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2010
Posts: 7,705 Likes: 5 |
Are you saying it is not a bubble because it has gone on for longer? No, I’m claiming that the comparing it with the tulip bubble is ignorant and the no one should allow ignorant people to advise them on any matter. Read Goetzmann’s paper on bubbles. He doesn’t even mention Dutch tulips, because it isn’t analogous to any real modern bubbles.
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Joined: Oct 2010
Posts: 7,705 Likes: 5
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2010
Posts: 7,705 Likes: 5 |
Witness, a loaf of bread, no cash flow, real intrinsic value. You are borrowing a term from the finance industry that you do not understand. Intrinsic Value has a definition that requires cash flow generation. You can’t just make up your own.
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Joined: Oct 2010
Posts: 7,705 Likes: 5
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2010
Posts: 7,705 Likes: 5 |
Maybe you can explain where the value comes from.
People want it.
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Joined: Mar 2008
Posts: 15,638
Campfire Ranger
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OP
Campfire Ranger
Joined: Mar 2008
Posts: 15,638 |
Thanks for your time, but it still sounds like digital tulips to me. ;-{>8
Time will tell.
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Joined: May 2009
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Campfire Tracker
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Campfire Tracker
Joined: May 2009
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Thanks for your time, but it still sounds like digital tulips to me. ;-{>8
Time will tell. Time has told.
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Joined: Jul 2013
Posts: 9,189
Campfire Outfitter
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Campfire Outfitter
Joined: Jul 2013
Posts: 9,189 |
Maybe you can explain where the value comes from.
People want it. Apparently, I am the new gold.
I belong on eroding granite, among the pines.
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Joined: Mar 2008
Posts: 15,638
Campfire Ranger
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OP
Campfire Ranger
Joined: Mar 2008
Posts: 15,638 |
Thanks for your time, but it still sounds like digital tulips to me. ;-{>8
Time will tell. Time has told. Time goes on. ;-{>8
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Joined: Oct 2005
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Campfire Oracle
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Campfire Oracle
Joined: Oct 2005
Posts: 79,321 Likes: 2 |
I can't wrap my mind around digital currencies. But I think if it starts to look like it's capable of becoming a challenger to the Federal Reserve's monopoly on manufacturing money, it's going to have problems, eventually.
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