Bitcoin, and other tulips


#706

I confess to being confused as to why the entire market, a few outliers aside, follows each other.
Or follows bitcoin, probably.
That doesn’t make sense to me.


#707

You’re taking an awful lot of interest in this, in a massive amount of detail, for someone who says they barely have any money invested!


#708

This ■■■■ is addictive.

It’s also the greatest off-season distraction of all time.

Plus, it’s not really about making phat stackz of cash. If you chuck $10 in, and turn it into $70… I mean, that’s not un-fun.


#709

Didn’t grow much during the great depression? I personally think it is amazing it held so much value


#710

If it wasn’t off-season I don’t know if I’d have the energy for this stuff


#711

Anyone have any VEN?


#712

Ripple back to $2.00!


#713

Market bouncing back!


#714

Buy, buy, buy!


#715

looked up the big.mac index.(net prices for us not my local.maccas)

price if a big mac in the US is $5.28usd.
here its 4.30usd.

on that I would think our dollar is already relatively weak to the yankee based on buying a burger in the usa at current exchange rates.

i know its a lot more complicated than that. But I thought that interesting.

anyone got travel stories on how far our cash goes in terms of buying things in developed countries?


#716

Do you think it may have something to do with a certain class of citizen?


#717

Companies that issue stocks have the capability to create value through the people that they employ, the products and intellectual property that they have built, and the reputation that their brand carries in the marketplace. You are basically buying a part of a value creating ecosystem. That’s why stock survives.

Some of the cryptocurrencies have an asset or service backing which means that they have some value, but the majority of them are collectibles - scarce, irreplicable tokens. When people stop wanting to collect them, the value drops to zero.

The thing that will keep these collectibles changing hands is that they have utility - people who are wanting to get around the regulated markets for shifting valuable assets due to transaction costs or the need for privacy. Unregulated they will continue to be used for money laundering, nefarious transactions and for transacting at a lower cost than is available via traditional networks.

This is useful, but doesn’t give them intrinsic value as, say, an economy gives a currency value or a company gives a share certificate value.

Speculate by all means but don’t pretend you’re investing


#718

But it’s fun to pretend.
Way more fun than having the things I posted two weeks ago read back to me.


#719

Yes to VEN. Also NEO, XLM, LRC, ZRX, REQ, XRP


#720

Wim is also ‘not investing’ because he only has a dollar and 45 cents in the market. But by jingos, is he an expert at what you should do with your dollar and 45 cents!


#721

I think I’ve been here long enough, posted often enough, for blitzers to know better than listen to me.
About anything.
Let alone what to do with their money.


#722

Or about discombobulated disc thingies.


#723

If bitcoin are just used.for drugdealing predominantly or financing terrorism etc then it’s only a matter of time until most if not all jurisdictions ban them.

Then the.merry go round stops and whoever is holding em have got worthless bytes.

If I had a bitcoin fortune I would be slowly cashing out. And It’s obviously happening with a lot running for the door now. It’s no.longer a shadowy niche product/thing.


#724

Like all tech there is going to be some really great ways to use it which will make it valuable. Like all tech the amount of ways that you might be able to use it is overhyped in the first instance.

Nobody can find a great use case outside of digital collectibles, black market trading just yet, but that’s not to say they won’t.

There is potential in the underlying tech for the creation of properly distributed networks with no central ownership of data. That stuff will be awesome but inevitably used maliciously.


#725

A lot of doubters with crypto.
For what it’s worth, Ripple (xrp) has the following backers/partnerships.
Bank of Tokyo Mitsubishi
Royal bank of Canada
Santandar
Standard Chartered
Westpac
Credit Agricole
American Express
UBS
Axis Bank
International Foreign Exchange plus 20 odd banks/businesses.
Ripple is about $2, atm, it will be double, minimum, that amount in 12 months.