The Cryptocurrency and blockchain thread

Santapez

Well-Known Member
Team MTBNJ Halter's
people agree it has value - just like anything else. end of explanation.
What value it has is up for debate (or trade) -

It's not so much the value that people have problems with, it's what it takes to trade/own.

I guess it's basically Beanie Babies that you trade via a complicated app. And there's a good chance someone steals your Beanie Babies while you're not looking and there is no recourse.
 

Patrick

Overthinking the draft from the basement already
Staff member
It's not so much the value that people have problems with, it's what it takes to trade/own.

I guess it's basically Beanie Babies that you trade via a complicated app. And there's a good chance someone steals your Beanie Babies while you're not looking and there is no recourse.

did they want to compare it, or understand it?
I have some serious problems with it - specifically, you can't spend it easily.

if someone steals your wallet, and it has cash in it, you aint getting it back either.

the tech may ultimately turn into the underpinnings of credit cards, to prevent (um, reduce) unauthorized use.
 

Santapez

Well-Known Member
Team MTBNJ Halter's
did they want to compare it, or understand it?
I have some serious problems with it - specifically, you can't spend it easily.

if someone steals your wallet, and it has cash in it, you aint getting it back either.

the tech may ultimately turn into the underpinnings of credit cards, to prevent (um, reduce) unauthorized use.

Understand it. From the point of "We keep hearing about Bitcoin, but know nothing about it"

The wallet is a valid argument. But I don't keep my life's savings in my wallet, I specifically keep a minimal amount of cash in there.

There may be a lot of validity to the argument of the technology being used. But that's like arguing paper based currency is a wonderful technology, therefore my monopoly money should be worth something. But what is the basic technology here? The public ledger? I'm assuming credit card companies and other monetary transfer companies have a distributed ledger that's available to it's partners.
 

rick81721

Lothar
Look out below!

rba1_09.jpg
 

Santapez

Well-Known Member
Team MTBNJ Halter's
Yeah, but is it a trend? I don't buy or sell crypto as an investment as I have no way of valuing it. Well, really I think the value is around 0 on a long enough timeframe but not really applicable. Markets can stay irrational longer than you can stay liquid?

Could be 0 next week, or back to 20k.

I'm wondering if a market crash (minor one at that) plus down economy will have a lot of money pulled from crypto. And don't anybody argue with me it's a safe haven in a bad economy, I'll take TIPS over crypto for that.

As a currency, absolute garbage with these fluctuations. Imagine if your checking account had swings like this?
 

thegock

Well-Known Member
The one year chart kind of looks like a dragon swimming to the left. Whaddaya think, @rick81721?

(Above is my take on "technical" traders with respect to their depth of thinking.)

Down about 26% in one year. S&P was better.
 
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