Cryptocurrency

cyclone1209

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Nov 5, 2010
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Way way below that, bitcoin will eventually get to $0 once governments get sick of all the scams.
Yep, and enough wealthy people - or people connected to anyone important get scammed - it's really over.

I don't see the SEC chair giving crypto a path to accrediation at this point.
 

Mr.G.Spot

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The inflation part is a little murky with it though. Yes, they aren't making anymore, but when they allow it to get divided down again (not sure if they are all done with that) that is very much like an inflation pressure on it since it allows others to buy when they could not afford to otherwise.
Mathematically, it can be split forever. The underlying statement, in crypto, there is a limited supply is dumb. It's 4th grade math that proves this "cornerstone" wrong. Crazy to make the "there's only 20 million coins"
 

cyfanbr

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IL
Mathematically, it can be split forever. The underlying statement, in crypto, there is a limited supply is dumb. It's 4th grade math that proves this "cornerstone" wrong. Crazy to make the "there's only 20 million coins
You can cut a pizza into a million slices if you want but you still only have one pizza.
 
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CysRage

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Oct 18, 2009
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My free $15 crypto given during the Super Bowl is now worth $5.92. I was told it was going to the moon. I'm glad I didn't waste real money on this scam.
 

JP4CY

I do not tan my taint
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Testifying
Programable money is coming, and who will be writing the program? The government. You think you are buying bitcoin with the next stimmy check, think again. You are buying solar panels and you have 30 days to do it. So go hide your bitcoin under your bed, we will see how that works for market liquidity.
seinfeld-festivus.gif
 

JustAnotherTimeline

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Jul 29, 2021
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I have a receipt for an $800 CASH deposit I completed on Friday morning. The funds are not available. I called customer service and they can find no evidence of the transaction. I will have to go deal with this in person tomorrow. Maybe they will have to pull the tapes. What a joke.

There is no blockchain for me to query. Don't trust, verify.

That is why you Bitcoin.
 

CyJack13

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May 21, 2010
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I have a receipt for an $800 CASH deposit I completed on Friday morning. The funds are not available. I called customer service and they can find no evidence of the transaction. I will have to go deal with this in person tomorrow. Maybe they will have to pull the tapes. What a joke.

There is no blockchain for me to query. Don't trust, verify.

That is why you Bitcoin.

Just think if you would have put that $800 in bitcoin at this time last year, you would now have a cool $288.
 

matclone

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Nov 13, 2016
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Now try 4 years.
I'm old and not as smart as some people around here but why should I take my money out of the traditional banking system and put it into cryptocurrency?

Is it: 1. On a notion that traditional banking will fail at some point in the future? 2. Greater rewards are available with crypto? 3. Blockchain or other newer technology is cool and I want to be cool too? 4. Other?
 

matclone

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Nov 13, 2016
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I have a receipt for an $800 CASH deposit I completed on Friday morning. The funds are not available. I called customer service and they can find no evidence of the transaction. I will have to go deal with this in person tomorrow. Maybe they will have to pull the tapes. What a joke.

There is no blockchain for me to query. Don't trust, verify.

That is why you Bitcoin.
That has never, ever happened to me. Sometimes banks put holds on deposits for various reasons.
 

Dr.bannedman

liberal
Aug 21, 2012
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that island napoleon got sent to
I'm old and not as smart as some people around here but why should I take my money out of the traditional banking system and put it into cryptocurrency?

Is it: 1. On a notion that traditional banking will fail at some point in the future? 2. Greater rewards are available with crypto? 3. Blockchain or other newer technology is cool and I want to be cool too? 4. Other?


the previous arguments were that crypto doesn't follow the traditional markets... this is now false. lots of traditional money into crypto now.
 

BCClone

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Sep 4, 2011
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Not exactly sure.
I'm old and not as smart as some people around here but why should I take my money out of the traditional banking system and put it into cryptocurrency?

Is it: 1. On a notion that traditional banking will fail at some point in the future? 2. Greater rewards are available with crypto? 3. Blockchain or other newer technology is cool and I want to be cool too? 4. Other?
Sam bankman says to.
 

JustAnotherTimeline

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Jul 29, 2021
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I'm old and not as smart as some people around here but why should I take my money out of the traditional banking system and put it into cryptocurrency?

Is it: 1. On a notion that traditional banking will fail at some point in the future? 2. Greater rewards are available with crypto? 3. Blockchain or other newer technology is cool and I want to be cool too? 4. Other?

4. I don't think government should be able to create money. Bitcoin offers stateless peer to peer value global value transfer. I don't actually see a world where it usurps fiat currency. I think they can co-exist and people can use bitcoin on an opt-in basis.

If that value proposition doesn't appeal to you, I wouldn't invest.
 

JustAnotherTimeline

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Jul 29, 2021
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That has never, ever happened to me. Sometimes banks put holds on deposits for various reasons.

Me neither. I talked to the branch manager on Monday and he said he had to manually go through each transaction and discovered there was a "scanner error". No idea what that means, but I did eventually get access to the funds 5 days after I deposited them.

That may not bug some folks. But for me, it was just a reminder of why I can't stand legacy banking.
 

matclone

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Nov 13, 2016
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4. I don't think government should be able to create money. Bitcoin offers stateless peer to peer value global value transfer. I don't actually see a world where it usurps fiat currency. I think they can co-exist and people can use bitcoin on an opt-in basis.

If that value proposition doesn't appeal to you, I wouldn't invest.
Ah, for ideological reasons. Thank you for your explanation.
 
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