What's the point of crypto again?

What's the point of crypto again?
Like how is it useful irl, besides being a funny way to gamble your money.

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people used to use it to buy drugs and guns on the darkweb. maybe some still do. now 95% of the people just use it to speculate and try to make money. it's not being used how satoshi hoped.

I can use it to send large amounts of money to other people for tiny transaction fees. I did a wire transfer with my bank and it cost me $20 and took 24 hours. I sent the same amount on Ethereum and it took 20 second and cost me 15 cents

Owning your money.

yeah but the price can go down 10% while you are sending it

Also this, even banks allow you to send any amount of money anywhere for basically free, thanks to crypto.

XRP transactions take like 5 seconds.

You don't have to keep your money in an unstable crypto like ETH. As soon as your money hits your ETH wallet you can convert it all to a stablecoin. Wallah there you go

It’s digital scarcity

People said the same thing about these papers that are widely accepted as notes now.

It’s an extremely convenient way of paying for your precious metals order from sites like SDBullion or Apmex.

it's unlimited cause you can always create more shitcoins

yeah but those were enforced by the state

>muh shiny rocks
they are also useless irl, besides speculation

That's not the scarcity he's talking about. I can print out monopoly money and maybe I can sucker some people into using it but my monopoly money is not scarce inherently in the protocol, nothing is stopping me from printing more.

Everyone has agreed that Bitcoin has worth, and Bitcoin as a protocol is scarce. Cryptocurrencies arent scarce because you can create as many as you want out of thin air. Doesn't mean anyone would buy any of those coins. Bitcoin has value and is scarce

Oh shit

() do not like it.

What's the point of money again?
Like how is it useful irl, besides being a funny way to gamble your resources.

What's the point of commodities futures other than gambling on the price of corn?

>they are also useless irl, besides speculation

No. Actually besides the unrealistic overnight dollar hyperinflation crash meme, PMs are also just a stable way to simply preserve wealth from bank fees, ordinary inflation and nosy governments. They sit there and don’t do anything. For those with an extremely conservative and risk-averse mindset this gives peace of mind.

We’re literally communicating using silver and gold wires and contacts you stupid peasant. They’re also great stores of wealth. Maybe one day you’ll have some wealth and understand you don’t always want to keep your net worth in what amounts to speculative paper.

The fact that something is scarce doesn't mean it has value, the shit of polar bears is a very scarce yet it has no value. What gives value to something is demand + scarcity but the demand for Bitcoin or other crypto is based only on speculation i.e. people buy because they think it will keep going up.

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hows the short bobo?

>We’re literally communicating using silver and gold wires
if the prices of these two was based only on the demand created by tech production it would be at least 10 times lower

Not sure what you mean user, I'm sitting on 500 polar bear shits and I'm pretty comfy. When this shit moons I'm gonna make it

imagine having this little idea of how this works

crypto is money. you are just trading your money for another type of money. A type of money that is connected to the internet instead of your local government or some other government.

Consider that the price of gold hasn't even been keeping up with inflation let alone allowing people to make gains.
You would have "made" more money buy keeping it in your home since 2012, or you could have actually made gains by investing in the market in a smart way.

Yeah I guess if only thousands of years of monetary history never happened you would be right. Great, any other pointless fictional scenarios you wanna come up where you’re right?

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>Consider that the price of gold hasn't even been keeping up with inflation let alone allowing people to make gains.
Oh, it's retarded.

>store of value is useless in general
Wow. You need to learn the fundamentals before you start having debates on financial instruments.
Or better yet, just get some decent money somewhere and then tell us if you feel the need for it to stay at least as valuable as it is.

also the black swan risk of a new massive gold discovery or way to process gold which inflates its supply- makes it unappealing to me as an investment

I-I-it’s a distributed ledger, user. Instant/near instant payment, minimal/zero transfer fees, global, and anyone with a phone can use it. No retarded square attachments, no middlemen like PayPal to freeze your accounts, no imperialist nations to ask you where you got your shit. Only thing is wallets are now chokepoints.

it will be fun when gold crashes -28% again like in 2013

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>please faggot
you have the internet and literal free research and fact checking tools, how the fuck are you this dumb?

Pretty sure gold has outpaced inflation especially when you take the decades-long view.

Precious metals are a “buy it and forget about it” asset. Because you can literally do that and never worry about it going to zero. Ever. And usually they go up at least a little bit, enough to get back the premium and then some.

They are not really a bad investment: they are traditionally not an investment at all, they are simply savings. Their purpose is to securely preserve wealth, not make it.

I feel like historically there was more of a perceived sharp division between speculative investments and savings. The old-fashioned way of looking at things was to of course save money for your security in the event of joblessness and old age, and then use any excess wealth, if you were lucky enough to truly have an excess, on investing in speculation. But this was only really for the rich.

I suspect the reason why the investor mentality is so universal today is because we have constant inflation. Not hyperinflation of course, but it’s enough that most people feel that gambling a little or a lot, even if risky, is the only alternative to watching its value slowly get bled away in the banks.

PMs are the actual alternative way to at least KEEP YOUR MONEY. They are a form of savings, and not really an investment.

lmao

Yeah I’m real worried...

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>literal thousands of years of history
>best store of value mankind has ever agreed upon as an actual store of value
>I don't wanna invest in gold, if we find more the price will just go down and I need to get rich quick

OK I'll bite, tell me what your ideal store of value investment is.

That's what people don't get, PM's, gold especially isn't about the quick flip. You preserve your existing wealth, with no intention of selling because it's comfy as hell.