Crypto makes no sense whatsoever, prove me wrong
>HIGHLY volatile meaning normal people will never be interested in it, because it's unsafe
>High barrier to entry, requiring you to learn what a wallet is, and all this shit - another reason normal people will never be interested in it
>Has no inherent value
>Instrumental value is highly questionable due to volatility
It's just a fad, a bubble, just like tulip mania.
Other urls found in this thread:
ourworldindata.org
en.wikipedia.org
statista.com
quora.com
cnbc.com
cnbc.com
twitter.com
Funny thing is, most of the time when the price exploded, some exchange fuckery was going on.
2013/2014 Mt. Gox
And there have been rumors since 2017 that Tether from Bitfinex isn't fully backed, or that it is backed by crypto, but not USD, which is fraud.
It's the perfect scam imo.
Now I will address some counter-"arguments"
>BUT DOOD FUCK THE GOVERNMENT
Exactly, only conspiracy nutjob retards like you will ever be interested in crypto - the same crowd that believes the Earth is flat and Tupac killed JFK
>BUT DOOD FIAT MONEY ONLY HAS INSTRUMENTAL VALUE, NOT INHERENT
That doesn't matter, in fact normal people don't even make a mental distinction between the two. A normal person sees a $20 note as valuable, just like they see food as valuable. They don't philosophise over whether that value is inherent or instrumental. MEANWHILE, crypto is highly voltaile, which undermines its utility / value, regardless of whether it's inherent or instrumental. If your $100 worth of crypto is just as likely to be worth $200 tomorrow as it is to be worth $0 tomorrow, then what's the fucking point?
>BUT DOOD IF YOU WATCH THE MARKET THEN YOU CAN PREDICT RISES
It's all just gambling and all a bunch of bullshit. It's like a speculative bubble except it's going on for longer due to stubborn retards who think this thing will ever have value. Why should crypto ever have a stable value? It won't because speculation will cause it to fluctuate wildly. Which means it has little utility for anybody, besides speculators and people looking to buy drugs etc. who want an untraceable (or LESS traceable) exchange mechanism.
Crypto is fucking stupid.
It's worth putting 1% of your net-worth into cryptos which have a genuine future, like XMR or BCH, but, as far as BTC is concerned, yes, it's a worthless scam which was taken over by banks and financial institutions long ago. It has no use-case and will soon collapse. For the most part, people should be buying precious metals.
The internet makes no sense whatsoever, prove me wrong
>HIGHLY volatile meaning normal people will never be interested in it, because it's unsafe
>High barrier to entry, requiring you to learn what a modem is, and all this shit - another reason normal people will never be interested in it
>Has no inherent value
>Instrumental value is highly questionable due to volatility
It's just a fad, a bubble, just like Betamax
The internet makes no sense whatsoever, prove me wrong
>HIGHLY volatile meaning normal people will never be interested in it, because it's unsafe
>High barrier to entry, requiring you to learn what a URL is, and all this shit - another reason normal people will never be interested in it
>Has no inherent value
>Instrumental value is highly questionable due to volatility
It's just a fad, a bubble, just like tulip mania.
Also another thing I meant to say, when I mentioned that crypto is just gambling, is that REAL gambling is much easier for a punter to understand, and therefore why don't they just do real gambling?
E.g. in Roulette you know what the odds are, 1 in 37 / 38 depending on the style, or 1 in 2 if you bet on red or black, etc.
And even in sports betting, people like to understand all the factors behind a sport team's potential success (players, their current form, their past record, the two teams' head to head records, etc.) so they can make an informed bet.
With crypto how do they know the odds? All they can read is a bunch of bullshit written by a bunch of speculators online. It's a fad, it's a cult, it's fucking stupid.
I don't even know about that stuff, I'm just saying crypto as a whole concept is fucking stupid. It will never have a stable value due to speculation, and therefore it will have no use for anybody besides people looking to buy drugs or whatever.
If the value of your money can wildly change, for better or more significantly for worse, on a day by day basis, then it's not very good is it? Nobody wants that, nobody wants unnecessary headaches, which is why crypto is so fucking stupid.
bro, the fuck
It is a get-rich-quick scheme for the early adopters.
I bought AMZN and Gold during the corona dip this year, and it has been a pretty good call.
Imagine being this fucking stupid, and defensive.
The internet's value does NOT wildly change. Does YouTube turn itself off and on, randomly, on different days? I.e. are there some weeks where you just can't watch YouTube at all (nor Netflix, etc.), therefore reducing the value of the internet for the common user? No. Pretty much every website on the internet has like 99% uptime or more.
So the value proposition of the internet is incredibly stable. If you choose to pay $30 a month for an internet subscription to your house then you know what value you're getting for that $30. You're getting YouTube, Netflix, online gaming, news websites like CNN, Google services like GMail and Google Maps, whatever the fuck it is that you're interested in.
You are so fucking stupid that it's really fucking pathetic.
Imagine being this fucking stupid, and defensive.
The internet's value did NOT wildly change when it was being introduced. Did websites turn themselves off and on, randomly, on different days? I.e. are there some weeks where you just can't IRC at all (nor blog, etc.), therefore reducing the value of the internet for the common user? No. Pretty much every website on the internet had like 99% uptime or more.
>HIGHLY volatile meaning normal people will never be interested in it, because it's unsafe
Yes, it's a highly speculative asset. Normal people are interested because most of them are degenerate gamblers.
>High barrier to entry, requiring you to learn what a wallet is, and all this shit - another reason normal people will never be interested in it
In the future people will use decentralized blockchains without even knowing it. The same way people use the internet but don't know what HTTP is.
>Has no inherent value
Wrong, for example Bitcoin has scarcity and utility.
>Instrumental value is highly questionable due to volatility
The market disagrees with you.
>It will never have a stable value due to speculation, and therefore it will have no use for anybody besides people looking to buy drugs or whatever.
Ever heard of stablecoins?
You're a redditor aren't you? Lemme guess, /r/buttcoin? Go back faggot. It didn't end years ago, it's not ending now. I can buy shit with it, so it's real. All else is cope. Imagine being this emotionally engaged with something, as you are, and just watching wave after wave of people get rich off it, and inch closer to finding adoption. Meanwhile, there you are, still just a pontificating poorfag. You must be fucking SEETHING.
~10 years after the first web browser was released to the public, there were 413 million people on the internet
~10 years after bitcoin was released, there were 2.9 - 44 million crypto wallet users, depending on source
Sources:
ourworldindata.org
en.wikipedia.org
statista.com
Also think about this, in the year 2000, the percentage of computer owners who had an internet connection was quite high. Pic related, which is from here:
quora.com
If 51% of households had a computer and 41.5% had the internet, then that means 81% of households with a computer ALSO had the internet.
Then think about crypto. Do 81% of people with an internet connection have crypto? No. It's probably like 1% or less.
Your pathetic interest is nothing and will be remembered by history as the 21st century incarnation of tulip mania.
>ad hominem seething: the post
Thanks for admitting I'm right.
>Bitcoin has scarcity and utility
My toenails are scarce and I'm sure could have some limited uses just like bitcoin.
>The market disagrees
The market that proves that I'm right about the volatility? Ah yes, that market.
>some limited uses just like bitcoin.
So you admit Bitcoin has some use cases. Way to undermine your whole arguement
>The market that proves that I'm right about the volatility? Ah yes, that market.
I never said you were wrong about the volatility. If you're concerned about that you can just buy options.
I'm not the only one who senses bull season with these threads starting to pop, am I?
>So you admit Bitcoin has some use cases
I said it has as many as my toenails. Clearly you're not very bright are you?
>I never said you were wrong about the volatility
Let's go back to what you said. Which in turn requires looking at what you replied to.
I said "instrumental value is highly questionable due to volatility", which is true. How the fuck is a currency useful if its value wildly fluctuates? IT ISN'T, which is why currencies like the Zimbabwean dollar were FUCKING USELESS. BECAUSE THEIR VALUE WAS TOO VOLATILE. So Zimbabweans started using US dollars, Euros, literally ANYTHING FUCKING ELSE because all those other currencies were at least STABLE. So if you got paid $2 USD for a day's work, at least it would still be worth $2 USD by the time you went to buy some fucking food at the weekend.
And your reply to my statement that "instrumental value is highly questionable due to volatility" was to say "the market disagrees with you".
No it doesn't. As the Zimbabwean dollar proves.
The current value of BTC is due to asset speculation, NOT because people believe it has genuine utility.
The answer to BTC's value is what you just said, genuine utility. There is utility in BTC and cryptos. That is how global currency is built into this world and that is the desire of the powers to be.
bro you have to be joking 2 years ago I was walking around hearing so many normies talk about the most retarded alt coins markets dont get smarter nows a good time to buy because theres still bad sentiment from the last crash just wait another year or two and you'll get some insane fomo with an even higher market cap maybe 700B maybe 1T could go as high as 2.5T yes people are actually retarded
Crypto shit coins
Fees
Fees
Crabbing
Dips
Waiting forever to make movements
> Bitcoin
> Fees
> Ultra volatile
> But you can make some money off it
Facilitating small-time internet-based narcotics transactions is not much of a utility, and any utility crypto has for this purpose is completely undermined by its volatility.
Just like Zimbabweans didn't want to own Zimbabwean dollars to conduct their transactions in, due to its rapidly changing value, the same applies to crypto. A currency is not useful if its value wildly changes. Every country on Earth has figured this out, which is why they employ measures to control the value of their currency, which in turn allows citizens to have faith in the currency, and to want to use it. Citizens only want to use currencies with a stable value. So when they earn $50 for a day's work, they know that their $50 won't suddenly have changed value to a significant degree by the time they buy groceries on the weekend.
I feel you bro, today, OP is a faggot once again
RSR sounds applicable. I was debating on an investment amount in this platform. A 350,000 stack seems worth the risk.
Imagine thinking that cryptocurrencies have the same use case as fiat currencies.
Imagine thinking that stable coins don't exist.
Imagine getting this upset over people making money off speculative assets.
>dude it's totally going to take off again just you wait and see
I just don't see it. Crypto really doesn't have much genuine utility at all and that's why it's a poor investment. It helps make you pseudo-anonymous for buying drugs online but that's about it, that's basically the only thing it's useful for. The vast majority of its current value is surely due to speculation.
Here's an interesting story:
>Howard Marks, one of the most respected value investors out there, starkly warned his clients to avoid high-flying digital currencies.
>“In my view, digital currencies are nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it,” Marks wrote in the investor letter Wednesday.
>The co-chairman of Oaktree Capital is famous for his prescient investment memos, which predicted the financial crisis and the dotcom bubble implosion.
cnbc.com
Now you can say "who cares what one dickhead thinks", but I bet his view is representative of most mainstream financial workers. I know Warren Buffet has been highly critical of crypto. And he's the most successful investor ON THE PLANET and has been for literally decades at this point. In fact here's what he's said about crypto:
>In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending.
cnbc.com
>NOOOO HE SAID SOMETHING THAT HURT MY FEEWINGS I BETTER SAY SOME AD HOMINEM
How stupid can you possibly be?
>NOOO NOW YOU'RE USING AD HOMINEM AGAINST ME YOU'RE A HYPOCRITE
No, because you were the one that reduced this thread to that level, you pathetic twat.
>DUDE IT'S GOT LOADS OF USE CASES
>names zero
Nice.
>upset
That's ad hominem, which isn't an argument. Why are you unable to respond to my actual points? Is it because you're retarded? It must be.
Also can I just point out that nobody in this thread has actually given any positive reasons whatsoever for why crypto would have value.
I myself have come up with one example, which is pseudo-anonymous small-time drug transactions online. That's the only one I can really think of. There may well be other examples, I'm sure there are. In which case, why has nobody mentioned any? Why have so many posters responded with ad hominem like they're five year old children who just got their feelings hurt?
I can tell you are a normie from the title of your pic
>Why have so many posters responded with ad hominem like they're five year old children who just got their feelings hurt?
then don't invest retard just shut the fuck up no one has to prove anything to you get off Zig Forums LOSER