OV9

ZedLeg wrote: Fri Feb 18, 2022 10:51 am At this point it’s at best a pyramid scheme. Needs to constantly pull in suckers at the bottom so the folk at the top can cash out.

Its the same with the S&P500. Altho legal.

There will be trouble ahead wherever your money is unless its in over valued properties as people always need somewhere to live

You’re not going to get any argument from me that the financial system in general is fucked

It’s just more blatant with crypto, see all the celebs being paid to hype NFTs.

Broccers wrote: Fri Feb 18, 2022 10:10 am You could say devaluing fiat by printing shit loads is fraud too, it really actually is.

Broccers wrote: Fri Feb 18, 2022 10:57 am Its the same with the S&P500. Altho legal.

This is something that really perplexes me, the way that fraud is simply accepted as normal in the crypto space. Rug pulls and pump & dump are openly discussed and even encouraged. In a system that's supposed to be better and fairer than the traditional finance model ! And any criticism of this is met with a shrug and a "well, those guys <points at fiat currencies> have fraud too" as if that means it's all OK.

And that was the other takeaway from that video. For the crypto-pushers, their beef with capitalism isn't that it's an all-round bad system, it's that they weren't the ones at the top of it. They weren't the boot.

Let's see how it rides out a year with increasing inflation and higher bills where people have less disposable income and start to pull out money from investments or just not invest because they don't have the money spare to do it.

It'll keep going up whilst the influencers are telling people who shouldn't to buy more on their credit cards.

Sundayjumper wrote: Fri Feb 18, 2022 11:28 am

Broccers wrote: Fri Feb 18, 2022 10:10 am You could say devaluing fiat by printing shit loads is fraud too, it really actually is.

Broccers wrote: Fri Feb 18, 2022 10:57 am Its the same with the S&P500. Altho legal.

This is something that really perplexes me, the way that fraud is simply accepted as normal in the crypto space. Rug pulls and pump & dump are openly discussed and even encouraged. In a system that's supposed to be better and fairer than the traditional finance model ! And any criticism of this is met with a shrug and a "well, those guys <points at fiat currencies> have fraud too" as if that means it's all OK.

And that was the other takeaway from that video. For the crypto-pushers, their beef with capitalism isn't that it's an all-round bad system, it's that they weren't the ones at the top of it. They weren't the boot.

I'm merely pointing out it happens in the financial world all the time. Lots of con men selling worthless pensions and investments but still legal.

If you do research into anything you know the risks. To blindly follow anything usually ends in it not going so well unless you are very lucky.

Knowing the risks is fine, what about the benefits? Actual currency means I don't have to swap chickens at the market for my shopping. What benefits does Bitcoin bring other than my investment might go up in value if other people invest?

Broccers wrote: Fri Feb 18, 2022 12:54 pm If you do research...

And we're straight back to your other favourite answer !

Cryptocurrency isn't real anyway, it's all made up - yet still the sheeple pay their money to buy it! They are being controlled so badly!

Rich B wrote: Fri Feb 18, 2022 12:59 pm Knowing the risks is fine, what about the benefits? Actual currency means I don't have to swap chickens at the market for my shopping. What benefits does Bitcoin bring other than my investment might go up in value if other people invest?

The benefits of Bitcoin? Plenty. As above do your research

My honest take on Bitcoin tho there is a limited supply. People will lose / die / forget about their wallets thus reducing the availability further. It's in its infancy so 250k per coin in 3 years isnt fantasy. More countries are using it

Now if you want to talk about jokey shit coins where they blatantly are a rip off then they are not the same thing.

Broccers wrote: Fri Feb 18, 2022 1:24 pm

Rich B wrote: Fri Feb 18, 2022 12:59 pm Knowing the risks is fine, what about the benefits? Actual currency means I don't have to swap chickens at the market for my shopping. What benefits does Bitcoin bring other than my investment might go up in value if other people invest?

The benefits of Bitcoin? Plenty. As above do your research

My honest take on Bitcoin tho there is a limited supply. People will lose / die / forget about their wallets thus reducing the availability further. It's in its infancy so 250k per coin in 3 years isnt fantasy. More countries are using it

Now if you want to talk about jokey shit coins where they blatantly are a rip off then they are not the same thing.

All my research talks about the benefits of Bitcoin when it's used to buy stuff - usually talking about international payments, anonymity, etc...

How many things have you paid for using your Bitcoin?

Rich B wrote: Fri Feb 18, 2022 1:23 pm Cryptocurrency isn't real anyway, it's all made up - yet still the sheeple pay their money to buy it! They are being controlled so badly!

It really is quite hilarious, isn’t it ? brocco thinks he’s clever by calling out COVID as a conspiracy to control people, yet has been utterly duped by the cult of bitcoin - which also exists to control people by taking their money and concentrating it even further into the pockets of the already wealthy.

Sundayjumper wrote: Fri Feb 18, 2022 1:42 pm

Rich B wrote: Fri Feb 18, 2022 1:23 pm Cryptocurrency isn't real anyway, it's all made up - yet still the sheeple pay their money to buy it! They are being controlled so badly!

It really is quite hilarious, isn’t it ? brocco thinks he’s clever by calling out COVID as a conspiracy to control people, yet has been utterly duped by the cult of bitcoin - which also exists to control people by taking their money and concentrating it even further into the pockets of the already wealthy.

i started typing that as a piss-take, then I reasoned it actually wasn't!

Broccers wrote: Fri Feb 18, 2022 1:24 pm My honest take on Bitcoin tho there is a limited supply.

You know another thing with a limited supply ? Suckers willing to buy into Bitcoin

Rich B wrote: Fri Feb 18, 2022 1:35 pm

Broccers wrote: Fri Feb 18, 2022 1:24 pm

Rich B wrote: Fri Feb 18, 2022 12:59 pm Knowing the risks is fine, what about the benefits? Actual currency means I don't have to swap chickens at the market for my shopping. What benefits does Bitcoin bring other than my investment might go up in value if other people invest?

The benefits of Bitcoin? Plenty. As above do your research

My honest take on Bitcoin tho there is a limited supply. People will lose / die / forget about their wallets thus reducing the availability further. It's in its infancy so 250k per coin in 3 years isnt fantasy. More countries are using it

Now if you want to talk about jokey shit coins where they blatantly are a rip off then they are not the same thing.

All my research talks about the benefits of Bitcoin when it's used to buy stuff - usually talking about international payments, anonymity, etc...

How many things have you paid for using your Bitcoin?

So I personally haven't but the person I know who has that Hyperfund has a card that allows him to draw on his crypto through the exchange, convert it to Sterling and spend it. I've been there when his purchased things using the card and I believe he's paid for a holiday with it too.

That said I still think it's a Ponzi scheme and he could be onto a hiding if/when it all collapses and I won't invest in it myself.

Sundayjumper wrote: Fri Feb 18, 2022 1:51 pm

Broccers wrote: Fri Feb 18, 2022 1:24 pm My honest take on Bitcoin tho there is a limited supply.

You know another thing with a limited supply ? Suckers willing to buy into Bitcoin

Its not my job to educate people here, just give you guidance.

As said in the above post, plenty of ways to spend bitcoin.

drcarlos wrote: Fri Feb 18, 2022 1:55 pm

Rich B wrote: Fri Feb 18, 2022 1:35 pm

Broccers wrote: Fri Feb 18, 2022 1:24 pm

The benefits of Bitcoin? Plenty. As above do your research

My honest take on Bitcoin tho there is a limited supply. People will lose / die / forget about their wallets thus reducing the availability further. It's in its infancy so 250k per coin in 3 years isnt fantasy. More countries are using it

Now if you want to talk about jokey shit coins where they blatantly are a rip off then they are not the same thing.

All my research talks about the benefits of Bitcoin when it's used to buy stuff - usually talking about international payments, anonymity, etc...

How many things have you paid for using your Bitcoin?

So I personally haven't but the person I know who has that Hyperfund has a card that allows him to draw on his crypto through the exchange, convert it to Sterling and spend it. I've been there when his purchased things using the card and I believe he's paid for a holiday with it too.

That said I still think it's a Ponzi scheme and he could be onto a hiding if/when it all collapses and I won't invest in it myself.

converting it to Sterling? That's not buying with Bitcoin.

In the same way, I used a piece of toast to pay my mortgage.

It’s as simple as eating the toast, converting it to energy, using the energy to do my job, exchanging that energy for sterling that I pass to the mortgage company.

Surely you’re using solar energy then. Which originally came about from the Big Bang

Sundayjumper wrote: Fri Feb 18, 2022 2:30 pm In the same way, I used a piece of toast to pay my mortgage.

It’s as simple as eating the toast, converting it to energy, using the energy to do my job, exchanging that energy for sterling that I pass to the mortgage company.

And in another direct parallel to bitcoin, that toast transaction produced nauseating waste as a by-product