LachiusTZ
Rogue Deathwalker Box
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Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
- Start date
Caliane
Avatar of War Slayer
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Pogi.G
Silver Baronet of the Realm
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To be fair, and i disagree with Maher 97% of the time, but he's not wrong.
Bitcoin and all the rest are worth $0.00. Absolutely nothing to back it as it has zero intrinsic value. I think the crypto market is fine for gamble plays, but as a serious investment, I'll stick to the sidelines. I will be happy for those who make bank off of it, but if the bubble pops, a fuck load of people are going to be standing around dumbfounded asking why their precious little math problem isn't worth shit and probably cause some 1930's level suicides.
Just my crazy 2 cents...
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Flobee
Vyemm Raider
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You fall into the "I don't understand it so it can't be successful" camp then it seems. If you can't see how digitally native currency has value then all I can say is you'll have to wait and see how it plays out. A lot of crypto is worth $0 though.
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I still use this counter whenever someone contends that cryptocurrencies are "imaginary money based on nothing of value".
"Really? What is the dollar based on that gives it value? If it's the might of the United States then literally the global economy is an extortion racket being run by our government."
I would like to see ETH hit $3k, and I give it a 50/50 of happening this weekend. I do believe it will happen before EIP-1559 hits.
On a more practical note, anybody had a lot of success with combining liquidity providing and then staking the liquidity tokens for farming? I'm trying it on QuickSwap right now and in theory I'm making around %70 APY on a 3k investment spread between MATIC-ETH and MATIC-QUICK pairs. Is it really that easy? Admittedly I'm at the whim of what the moderately volatile QUICK token does price-wise, but still....
"Really? What is the dollar based on that gives it value? If it's the might of the United States then literally the global economy is an extortion racket being run by our government."
I would like to see ETH hit $3k, and I give it a 50/50 of happening this weekend. I do believe it will happen before EIP-1559 hits.
On a more practical note, anybody had a lot of success with combining liquidity providing and then staking the liquidity tokens for farming? I'm trying it on QuickSwap right now and in theory I'm making around %70 APY on a 3k investment spread between MATIC-ETH and MATIC-QUICK pairs. Is it really that easy? Admittedly I'm at the whim of what the moderately volatile QUICK token does price-wise, but still....
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Arden
Blackwing Lair Raider
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He's absolutely wrong. He's as ignorant and shortsighted as David Letterman was in that clip I posted from 1995 where he tries to explain to Bill Gates why the Internet is pointless.
Cryptocurrency doesn't just use blockchain tech, it represents the monetization of blockchain tech. And blockchain tech is the fabric from which the next iteration of the Internet is being built as we speak. Blockchain gives the digital world several things it sorely lacks at present: decentralization, transparency, verifiability, authenticity, and veracity. It allows for universal, lightning-fast trustless digital exchanges. Think about what that means for a second. Think about what that's going to mean when it is universally adopted- and it will be.
What we are witnessing with the rise of cryptocurrency isn't just a paradigm shift for currency, it's a paradigm shift for the entire digital world. The first version of the Internet did not have a native currency. There was no built in "money of the Internet." Well, the next version of the Internet does have a native currency, and it's called cryptocurrency.
The reason you can't stop cryptocurrency is because you can't stop the evolution of the digital world into a form that relies on cryptocurrency to operate. The hilarious truth is that cryptocurrency doesn't have to replace fiat in some dramatic fashion. There will be no sudden revolution where people become suddenly enlightened and drop dollars for bitcoins. What's going to happen is that people will begin to find that more and more of the things they want to buy, the services they want to use, operate exclusively on crypto. For a while, people will convert their dollars to crypto in order to access the goods and services they want, but as more and more institutions adopt crypto, there will be less and less of a need to bother with dollars at all.
Fiat isn't going to die with a bang, it's going to die with a whimper. It won't be suddenly usurped, it will be slowly abandoned. I'm sure some people will use fiat for years and years to come, just like some people still wait to get their news from the newspaper. But most of the world will move on to crypto once it becomes apparent that it's faster, better, and more convenient.
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Kiroy
Marine Biologist
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OU Ariakas
Diet Dr. Pepper Enjoyer
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The global economy is *literally* an extortion racket being run by the US since the end of WW 2 with the expressed intent of combatting the Soviet Union.
The racket is that the US will protect all global trade routes and never use that power in trade negotiations all for the low price of never allying with the Soviet Union.
It worked so well that it has continued even after the fall of the USSR.
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Kiroy
Marine Biologist
- 34,642
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the dollar is based on the tangible economic/military inputs and outputs of the most powerful nation on earth - now that may be going away but someone (cough china) will control the next "fiat" currency, be it paper or digital
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The next fiat reserve currency will be even less connected to reality and it already exists. It's the SDR. This is a financial concoction of the IMF. And they're already planning out how to uise the SDR to back everything fiat currencies currently back, and without a government backing it directly. Imagine if the UN ran the Federal Reserve.. heh
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Kiki
Log Wizard
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I don't expect some 90 year old dude to understand the internet.
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Sanrith Descartes
Veteran of a thousand threadban wars
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I still remember the loss porn horror stories from the 20k top crash.
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Aaron
Goonsquad Officer
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I was thinking more like "Dude is prolly piss mad he fired that Intern who told him to invest in this magic internet money back when it was under $1000 a pop instead of listening to him and now that he lost out on having more money than God he wants everyone to suffer!".
My orders are coming in 2 each a week. The wife asked me don’t we take crypto seriously. No problem fam, I got ya. Wait until it heats up this apartment in LA. I’m already working it up about telling her we need to rent a studio in Compton and just build racks.
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LachiusTZ
Rogue Deathwalker Box
- 14,472
- 27,162
I'll give you like 500 for one of those 3090s in about six months.
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