IanCH
Autocross Champion
Engadget is hardly news lol ...
He caused a 5% spike that was wiped out almost instantly. Just like any other news does to the stock market because of the bots that are trading there.
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Engadget is hardly news lol ...
He caused a 5% spike that was wiped out almost instantly. Just like any other news does to the stock market because of the bots that are trading there.
jimlloyd40
Autocross Champion
Engadget simply posted a statement made by Musk. I posted it here because it fits the topic. I have no opinion on any of this.
Dog Dad Wagon
Autocross Champion
That's like calling a ponzi scheme your hobby.
hate hate hate. The point is crypto’s value continually grows, regardless of the volatility - if you’re watching the markets, you know that each retrace bottoms out higher than the previous, and each run peaks higher than the previous. Mining is a great way to make passive income and cash in next time there’s a run.
next bull run is gonna hit 100K.
Thumper
Autocross Champion
There is zero difference between the stock markets and BC. They are both ponzi schemes based on fake assets being traded for fake currency that can all be manipulated at a whim.
I just like sitting back and laughing at both sides who have the same idea that BC is somehow a new concept when it isn't and come out with different opinions and fight about it. Oh, right, it's the internet. LOL
BC is a currency, same as any other currency, a made up unit backed by something real (or pseudo real nowadays) it's basis on blockchain does not make it "new" anymore than claiming Bungie invented video games because HALO had new graphics. Nor does the fact you can 'make' it yourself. People have been playing speculative games with currency since it was invented. BC has value because people will accept it for payment, and they do that so they can trade it for the so called "real" currencies.
Mine BC, grow weed, start an OnlyFans page (man I wish I had boobs lol).....who the heck cares...........people need to stop being Karen's and telling other people how to live their lives or being condescending pricks acting like they are smarter than everyone else and solved the universe by 'inventing' the wheel.
Come on, group hug.
Keehs360
Autocross Champion
Bro. Only fans. That’s where it’s at! If I was a hot lady. I’d have no shame bro
GTIfan99
Autocross Champion
Value of what? What exactly do you think is growing? Belief?
Because bitcoin 100% relies on more people believing in the future that this non-asset backed currency is worth anything.
And any "currency" that you can walk into a merchant, drop 1 coin worth $60,000, drive out with a car, then that same coin be worth $30,000 the next day, isn't a "currency" at all.
For the last time, the US dollar is backed by trillions in actual assets AND the governments ability to collect a percentage of our countries GDP every year. It is not based on "belief". Those telling you that crypto and centrally backed currency are both backed by "belief" have either also been conned or are in on the con, but it's still a con based on the ability to continue to get people to believe it's worth something. You'll see what happens next recession when everyone tries withdraw that currency. Ask Bernie how it turned out.
Charlotte.:R
Autocross Champion
Identify as a hot lady. Start Only Fans account. Profit?
GTIfan99
Autocross Champion
That's just it, any "currency" that can fluctuate that rapidly and wildly isn't suitable to be used as a currency. You do not want your currency to be like the stock market.
GTIfan99
Autocross Champion
I just sent him a dogecoin for nudes.
Charlotte.:R
Autocross Champion
You too? He'll have tens of subscribers at this rate.
GTIfan99
Autocross Champion
Jim will want to get in on this action too.
jimlloyd40
Autocross Champion
This isn't for me. I'll keep my money in guaranteed annuities and mutual funds.
GTIfan99
Autocross Champion
Keehs might accept those too. It's worth a shot.
Thumper
Autocross Champion
That has got to be the most hilariously tone deaf and ignorant statement I have seen in quite some time. LMAO You believing in the governments "assets" and ability and willingness to stand behind the currency is somehow not a belief? Like I can somehow go to a store and say "No, no sir, you HAVE to give me a loaf of bread for these dollars........the government has office chairs and pens."
You're example is built on exaggeration to attempt to prop up your point, but in reality that exact situation can and does happen to so called "real" currencies everyday. Or was the Venezuelan Bolivar not a real currency? It was based on the "assets" of the government and their ability to collect a percentage of their GDP.............In that very REAL example the coin worth a $60,000 car was actually worth about $60 the next day.
I went into the gas station last week and dropped $20 on 6.55 gallons of gas. Today my $20 was only worth 6.1 gallons. Next week it will probably be under 6 gallons. The scale is irrelevant, the principle your example illustrates in exaggeration is real (it's called inflation, should learn about it) and no different than what you claim to be a flaw of BC yet is a standard trait of all modern currencies. Your belief in fake monetary policies does not grant a worthless item any value anymore than the BC miner's belief in that currency's "realness" makes it solid.