Can someone explain to me in layman terms why digital currency is being perceived as a useful commodity? Ive tried reading articles but they are just filled with tech-jargon
Of the 3 dozen coins ive seen spammed here for the last few years only ETH and BitCoin really mooned, is this all just a ponzi scheme?
I feel like only bagholders are constantly shilling their coins, and random news article cause a buy frenzy.
Seriously could anybody with some knowledge on this topic shed some light on why people get into cryptos OTHER than making money off speculations
>still thinks that we haven't figured out the fake advice threads
For fucks sake how many moar times can you bots ask for crypto to be explained to you?
You are aware that they all know it is not genuine.
Ryder Collins
are you implying that i am a bot? who is asking for information on cryptos and why they are useful?
i dont understand how would that provide value for the bot-owner
just answer my question please
Nicholas Turner
i feel like im being ignored
articles just repeat that cryptos are not fiat currency and stand to hold their value better against fiat currencies who suffer from inflation
when bitcoin dropped from 1000 to 215 in 2015 at mt.gox got banned, hasnt that set off any alarm bells for people who put all their capital on a crypto?
are you all just trying to manipulate the markets for profit, because thats what i have come to understandt since i doubt anybody here actually understands why cryptos are popular
everyone here is willingly participating in a ponzi scheme for profit. I am not jealous or upset, good for you - its the same as the one loner who wins at the roulette table. Sure he profited after spending a large amount of energy and resources and costed on the backs of several individuals whom lost money but hey, free money
Colton Brown
There are literally a million sites that explain crypto, and yet you demand to be spoonfed by a bunch of NEETs on an anime imageboard. Do you know what society calls people like you?
Poor.
Hudson Gutierrez
as ive stated, articles bring up the fiat currency argument , and that is all they can explain
dont pretend you know more about a topic if your not willing to explain your logic
Christopher Brown
>i doubt anybody here actually understands why cryptos are popular they AREN'T popular.
the people that want them seek to end the state monopoly on inflation and currency manipulation.
of course that will never happen because of the state monopoly on violence. Cryptos will either be adopted and corrupted by states or they will be banned.
yes, Veeky Forums is merely engaging in fraud.
Nicholas Torres
thank you for responding, i see that the END result is to destroy reliance on government mandated currencies , a lot of articles fail to summarize it like this
i read that cryptos are also beneficial for anonymity, which is where much of the market cap comes from [ money laundering / tax evasion / weapon,arms,sex trade ]
so essentially the end game is either the government bans it, or becomes willing tax all profits and transactions heavily while knowingly that the transactions are highly malicious in nature
all the big crypto guys are probably pondering this scenario and it would almost seem to suggest that there is no future for digital currencies without a stable military backing
Robert Perry
>Can someone explain to me in layman terms why digital currency is being perceived as a useful commodity? Ive tried reading articles but they are just filled with tech-jargon
It's not. The whole thing is a scam even though it wasn't originally intended as such. The tech-jargon in the articles that promote digital currency is just a veneer, a smoke screen to hide the fact that the whole thing is a farce.
William Bailey
>stupid commie is too thick to understand crytpo currency poetry
Joseph Walker
...
Levi Ramirez
>the people that want them seek to end the state monopoly on inflation and currency manipulation.
Top kek
99% of the people buying crypros are NEETS and people in third world shitholes. Their only goal is to cash them out for that oh so useless fiat at the top.
Oliver Martin
>Retarded leftypol user wants to be spoon fed info on crypto
No thanks Ivan
Carter Jackson
It's basically fiat but unregulated & untracked by a central government. There is much value in that alone.
Now stop being a dumb nigger and hedge yourself against the corrupt government you live in.
Easton Morales
well for the coin Ripple it will save banks actual millions and allow money transfers in about 1 second as apposed to taking a day or longer.
so there is a lot of value there.
Jose Cox
>It's a scam
No it isn't you mongloid. The only scam is the pump and dump altcoins with 0 new technology/use behind them.
Your argument could literally be used against anything. Just because you don't find value in a certain commodity doesn't mean others don't.
In fact I myself don't speculate on commodities like crypto myself. I hold a small amount to hedge and facilitate online transactions. That's their real use and I've gained a lot in terms of USD that way in online services that could easily be charged back against me.
Parker Gray
Will banks buy ripples from imageboard dwellers and make them filthy rich or just adopt the tech?
John Miller
ETH is useful because you need to pay ETH to run distributed applications ("dapps") on the Ethereum network.
You can use ETH as a currency but that isn't the point, the main purpose is for it to act as a cost to run stuff on the Ethereum network, so that developers make efficient code and don't waste the networks resources on stupid shit. Ethereum is not a currency, it is a PLATFORM with a currency, hence the distinction between "Ethereum" (the platform) and "Ether" (the currency).
Other cryptocurrencies may have other uses. Bitcoin is a relatively 'dumb' crypto in that it can only be used as a currency, but this is also a strength because it reduces it's attack surface: en.wikipedia.org/wiki/Attack_surface
Because it was the first crypto, it was deliberately made as simple as possible to increase the chances of survival. Now that the idea is out there and thorougly tested, other cyptos can build on the idea and add their own features.
Lincoln Johnson
How is it not a scam when the only way to trade with these currencies is through shady online sites that charge hefty transaction fees?
Evan Roberts
Ye, you're gov don't give a fck if da cp was sold. As long as day get da cut m9. N da police be takin ma crack n sellin et em selfs m9. But ma cusion got her 10k taken from her cause they say she sell da crack. I tell ya boy, she sellin no crack. Gov take it anyways.
> Silk Road > Civil Forfeiture
It's kinda funny that the government makes money - even off of crime. With this information, I'm trying to figure out why they'd ban btc, if they're this fcked anyways.
Asher Cooper
>when bitcoin dropped from 1000 to 215 in 2015 at mt.gox got banned, hasnt that set off any alarm bells for people who put all their capital on a crypto? Anyone who keeps all their holdings on exchanges instead of private wallets is a stupid nigger that deserves to lose all of their money.
Josiah Morales
>hefty transaction fees >lower than virtually every stock trading website Want to know how everyone can tell you're a poorfag?
