I see that I can potentially make money off cryptocurrency, but I think cryptocurrency is inherently worthless. Because of the latter fact, I just can't bring myself to put money in it. Mentally, I just can't pay money for something I think is worthless.
Buying something worthless in the hope you will make money from it seems a completely backwards money making strategy to me. It is the opposite of what you want to do, which is selling something worthless.
I can't get past this mental block.
Anyone else have this problem? How did you get past it?
If this isn't enough for you to invest in crypto, then fuck off nigger.
Read the comments as well, educate yourself.
Chase Wright
No. I'm making a lot of money, unlike you. You're a coward, and that is what's going to keep you from making it.
John Roberts
Define 'worthless'.
Tyler Young
How many ETH to suck her willy?
Jeremiah Hernandez
Yes. It's uses are novel more than revolutionary, and anyone can implement a blockchain of their own.
I think what people don't seem to grasp about fiat is that it isn't valued arbitrarily, it is valued because it is "legal tender". Status as legal tender makes something inherently valuable.
There's nothing wrong with fractional-reserve banking as long as a bank isn't too highly leveraged (i.e. has too many liabilities to assets). There are regulations in regard to this (BASEL).
Something without any value.
Kayden Howard
fag...
Hunter Fisher
You do realize there is an endless supply of fiat, it's so endless that everyone on this board could make 10000000000% gains.
((((They))) would just print more.
Fiat is worthless, it is accepted by normies who suck the teet of the government because they don't know any better and are too lazy and caught up in sports and shit to care.
Bitcoin was $1 at some point, I wouldn't be surprised if there is someone still holding 10,000 BTC from that time.
Put yourself in that persons shoes, which is worth more to them now their $10k they spent back then or the 10,000 BTC?
You probably don't have any history in BTC, but look into Cyprus bank runs in 2013.
One day that situation will hit the USA and it will be a literal shit storm. Bank runs, riots for food, anarchy.
You know where the people in Cyprus put their money into to make sure they had access to buy basic necessities and so banks couldn't literally steal their money?
Bitcoin.
First link is an article from 2013 on Cyprus, next is from 2017 about the EU, it links to the first article in that article also.
went to college and majored in monetary economics. one of the more expensive ways to become convinced bitcoin has value
Jaxson Anderson
Why do you even bother making this dumbass thread? Do you enjoy flaunting your retardation? Because thats what you are if you cant see its value
Julian Ramirez
I see that I can potentially make money off fiat, but I think fiat is inherently worthless. Because of the latter fact, I just can't bring myself to put money in it. Mentally, I just can't pay money for something I think is worthless.
Buying something worthless in the hope you will make money from it seems a completely backwards money making strategy to me. It is the opposite of what you want to do, which is selling something worthless.
I can't get past this mental block.
Anyone else have this problem? How did you get past it?
Julian Wright
>bank run I don't accept that argument. If BTC becomes the only currency (and it won't) then there will still be banks, and there's no way to get your BTC from the bank's wallet if there is a run.
And yes I understand inflation due to an increase in the supply of money, but there are serious downsides to a government doing that (downsides for the government) which incentivises them to maintain low inflation, there are often legal inflation targets that central banks have to aim for, and BTC isn't immune to inflation because of how much of the currency is held by so few people. BTC, being deflationary, is also a problem, because it incentivises hoarding.
Saying it is valuable doesn't make it so.
Again, fiat is inherently valuable because it is legal tender.
Henry Foster
People like you have been thinking about the same shit for over half a decade. Get with it or stay poor. Idgaf.
David Johnson
Use cases my dude. Bitcoin started being valuable because you could buy drugs and pizzas with it. People will start to use crypto because it's much faster than a bank transfer. There are some things that can be created using the blockchain that we just couldn't make without it. It's truly beautiful, and I honestly believe it's got a bright future
Daniel Hughes
>Again, fiat is inherently valuable because it is legal tender. Paper money eventually returns to its intrinsic value – zero
David Thompson
Yeah the problem with this line of thinking is that it's wrong
Camden Butler
>Again, fiat is inherently valuable because it is legal tender.
it being legal tender has nothing to do with its value. The fact that it can be exchanged for other stuff is what gives it value.
The value of anything is equivalent to what it can be exchanged for.
Jace Roberts
Why would your Bitcoin be in a bank tho?
Price deflation is the natural state of things in human society. Tech advances make things cheaper. When money was gold and silver you could just throw that shit in a drawer and that's your investing plan. It's purchasing power increases, things become cheaper, no risky investments required.
That's the theoretical appeal of BTC to me. No need to take retarded risks to beat inflation and save for retirement.
There is value in that hope - a return to normalcy the powers that be would never allow (if they could stop it).
I have no idea how it will all play out but I have a big position in BTC and BCH from mining.
