Cryptos make no sense...

Cryptos make no sense. They have a $1000000000 market cap while making almost no money with millions of people trying to get rich from it by riding the train. This makes no sense and it'll burst eventually when fewer and fewer people get in and people will cash out fast before others do.

not sure how you dumb fuck niggers really think this is all there is to crypto. trying to attribute the cause to some personal influence. fucking nigger that's not how economics work. the cause is systemic and much more complicated

DYOR.

You are entirely right. Please don't invest in cryptos. It's all worthless.

>that's not how economics work
You're the nigger. There are two things completely different:
1. the price of the coins
2. the technology
The price being extremely inflated has nothing to do with how useful the technology could be as evident in the dotcom bubble.

you right dont buy in boyo, short with max leverage

damn that place looks comfy

That's because the cap isn't real
The amount of people willing to buy vs sell is probably like 400M at best, not 100B
The "movement" you see is mostly bot trading which just slowly transfers wealth to the cypto creators through fees

>The "movement" you see is mostly bot trading which just slowly transfers wealth to the cypto creators through fees
They're paying themselves?!

Chinks are stupid, and yet the amount their government would steal from them is more than the amount they'd funnel to exchanges and transaction fees.

Cryptos aren't companies, they don't need to make money.

People are willing to give millions in ICOs, by the way. Isn't that a way to make money?

Developers get paid by transaction fees. Cryptos are needed by the market because they make transactions way cheaper. That's why there's demand for them.

>Cryptos aren't companies, they don't need to make money.
I wasn't talking about the cryptos making money, but about the people who buy them.

>People are willing to give millions in ICOs
They only do that to buy tokens before others.

>Cryptos are needed by the market because they make transactions way cheaper.
That's what ripple is for, because it's used within banks. Other cryptos can't be used because they aren't accepted anywhere.

you're both niggers if you're unable to see that it's money driven memetics at work.
people adopting the tech drive adoption with their believe in adoption resulting in adoption. it's a snow ball of greed and fear and investment advice from your barber. like a decentralised ponzi scheme or a bubble that's only going to pop once people see what the techies meant when they said 'scaling issues'

Thats network effect, and it supports OP.

first of all ripple isn't used by banks, you dingus. other than that it's more of a bandwagon effect. but either way it makes sense, hence op is wrong. dum dum dum.

>The "movement" you see is mostly bot trading which just slowly transfers wealth to the cypto creators through fees

Bot trading yes, but the rest is utter bs.

Classic case of someone just parroting what they've read on Veeky Forums

"Extremely Inflated". Relative to what?
Gold?
Tech stocks?
These niggers trying to call something extremely inflated without understanding global economics, and fundamentals of economics.

"Dotcom" bubble is vastly different to crypto. Stop comparing it.
1. Dotcom bubble was a global phenomenon that involved all levels of investors, not just stupid Veeky Forums fags and tech nerds - "Mania"
2. Dotcom bubble are STOCKS not CURRENCIES. Fiat Cryptos (BTC/LTC) are more adequetely compared to commodities such as gold and silver which derive value from barter transaction.
3. You can't value crypto right now - there is NO such thing as overvalued, undervalued when this is such a new market with no real comparison.
4. This is all SPECULATION.

inflated as in pretty much everything except bitcoin has no real intrinsic value/real world usage. they are all still just memes, 6 years after.

the dot com bubble was filled with memes and scam startups too... it's basically the next bubble but instead of urls to companies that did nothing, it's all coins that.... wait for it... do nothing.

But there are some paralols.

Most of the dead or non rebounding companies from the dotcom bubble are companies that didnt bring anything tangible or useful into the marketplace and mainly presented themselves as some sort of innovator or participant in the techboom.

Same as with coins, if a coin adds nothing to the table then why use it in place of established coins like bitcoin (for transactions) etc?

>Cryptos make no sense.

transferring my wealth outside of the banking system and having it move between borders, anonymously is very useful, especially as an expat

bticoin is the real deal
99% of shitcoins are a complete waste... zero product... driven on nothing but memes and hot air

this shit is gonna implode and a lot of people are gonna lose money

Money has no intrinsic value.
Gold has no intrinsic value.
Silver has no intrinsic value.
Gold has more value then silver. Why? Cos of trust.

Btw BITCOIN is the one with NO intrinsic value. ETH and many other coins (GNT, FCT, Siacoin) DO have intrinsic value. So i'm not sure what your point is

Absolutely, some coins are shit. No, most coins are shit. No, 95% will die but this will happen over many many years. However I was addressing the point that OP was implying that everyone will cash out of cryptos. That could happen, but it could not.

you're talking out of your ass. the dot com bubble was a very different kind of beast. look up the pets.com story to get a feel.

A lot of Bitcoin will never be cashed out because it's inaccessible. Wallets that were in old harddrives that failed and became irretrievable, or people lost their hashes, ect.

But really, the current crash in coins now could be seen as large scale profit-taking. Since cryptos are not like fiat, more like commodities, it's easy to collapse the price if you sell too many all at once.

>But really, the current crash in coins now could be seen as large scale profit-taking. Since cryptos are not like fiat, more like commodities, it's easy to collapse the price if you sell too many all at once.

But the potential demand is still much higher than the current market cap. I haven't did the math myself, but very smart people on Linkedin claim so. So this is just a temporary dip in the large scheme of things.

*haven't done

Fees go to exchanges, not the creators of crypto. If bots weren't profitable for programmers we'd stop running them. You have strange ideas.

fuck me this house looks awesome

not much different from the etherium story tqbh

>This

Sauce on the house OP?

>Money has no intrinsic value.
"Currency" has no intrinsic value.
Fiat is not money.

>Gold has no intrinsic value.
Yet mines the shit out of it and hoards it so that he can put it in computers and gaming systems

>Silver has no intrinsic value.
Yet he mines the shit out of it because he knows it is the best conductor in the world. Initiates Rohs so that silver can be put in the solder to make tons of tech computing hardware.

>Gold has more value then silver. Why? Cos of trust
Cause like the sun gold gives light and silver only reflects the light like the moon does.

>Btw BITCOIN is the one with NO intrinsic value. ETH and many other coins (GNT, FCT, Siacoin) DO have intrinsic value. So i'm not sure what your point is
All fiat cryptocurrecy has no intrinsic value. If it did we would be using it to physically build modern day electronics. That is impossible. At this moment the world survives without crypto but it cannot survive without its tech addiction.

Not exactly, it will just crash and come back.

You should spend time trying to understand
What is a currency
What are the flaws with fiat
Why this is just like the dot com boom
What happened to publishing when websites came along
Crypto is eventually going to do the same to banks