Cryptocurrency

[Supdawg]

5 minutes ago, OILERMAN said:

 

The fundamentals are no different than BTC

Ok..  

 

Just keep talking and removing all doubt. 

[OILERMAN]

4 minutes ago, Supdawg said:

Ok..  

 

Just keep talking and removing all doubt. 

 

500 mill market cap for Hawn Tua girl coin.....lol

[Titans_Win_Again]

22 minutes ago, OILERMAN said:

 

500 mill market cap for Hawn Tua girl coin.....lol

That doesnt necessarily mean anything. Her and the other insiders likely controlled 99% of the supply. Liquidity available is a much more important indicator than marketcap for coins like that. 

[OILERMAN]

2 minutes ago, Titans_Win_Again said:

That doesnt necessarily mean anything. Her and the other insiders likely controlled 99% of the supply. Liquidity available is a much more important indicator than marketcap for coins like that. 

 

You don't have to convince me it's worthless

 

But at the same time....

 

 

 

[Titans_Win_Again]

38 minutes ago, OILERMAN said:

 

You don't have to convince me it's worthless

 

But at the same time....

 

 

 

Bitcoin is one of the most liquid assets on Earth, on par with Apple stock. 

 

You're free to continue not understanding it. Your pension fund will be investing on your behalf shortly. 

[TF_Titan]

Cryptocurrencies are no more fake than US Dollars. They're both just vehicles to execute transactions for the exchange of goods and services. The major difference is the FED can continue to create dollars out of thin air while there is a fixed number of Bitcoins that will ever exist. In that sense it IS closer to gold in that there's a fixed supply of gold. Originally currencies were invented because carrying around paper bills was easier than lugging around gold or other hard assets. But each bill represented a fixed amount of that asset (i.e. gold) and could be exchanged at any time for that asset. The problem was the limited supply of gold limited how much governments could borrow and hence how much they could spend. Over time people developed a psychological attachment to the paper money and began to see them as "the thing with value" as opposed to the assets they represented. This opened the door for governments to eliminate gold as the asset backing their currencies and as soon as governments removed their currencies from the gold standard they all became fake and they've been printing fake money ever since to finance exploding budgets. The US is spending more on interest on their debt than it spends on the military. The US dollar is on an unsustainable course and it would be naive to think it's just going to work itself out or that politicians are going to come up with a viable solution. It's not and they won't. It's just a matter of how long until the shit hits the fan.

[OILERMAN]

1 hour ago, TF_Titan said:

Cryptocurrencies are no more fake than US Dollars. They're both just vehicles to execute transactions for the exchange of goods and services. 

 

No more fake than the US dollar? That's absurd. 

 

You ain't buying anything with Crypto. At least not in the way you can with the US dollar. It's not even a currency anyway. 

 

Crypto is just something you hope to buy at a price and sell at a higher price(with dollars BTW). It's working out well in that regard admittedly but don't try and make it something it's not

[TF_Titan]

23 minutes ago, OILERMAN said:

You ain't buying anything with Crypto. At least not in the way you can with the US dollar. It's not even a currency anyway. 

 

I can buy a refrigerator at Best Buy and pay with crypto. I can by groceries at Walmart and pay with crypto. I can book a trip through Expedia and pay with crypto. I can stop at a Texaco, fill up my gas tank and pay with crypto.  It absolutely is a currency accepted by tons of vendors...AMC Theatres, Bass Pro Shops, Chipotle, Home Depot...there are over 15,000 merchants that accept it as a legitimate currency...and not just BItcoin. This is from the newegg.com website:

 

Quote

You may have heard that we are now accepting Shiba Inu Token, but did you know that we also accept Litecoin, Dogecoin, Ethereum, Bitcoin, and other cryptocurrencies? In fact, we’ve been accepting digital currencies since 2014, when we were the first major retailer to accept Bitcoin as a payment option.

 

The US Dollar is just a piece of paper. It's not backed by anything real. The only reason it has value is because our society has agreed that it does. Tomorrow the government can print 100 Trillion more of them if they want to and whatever dollars we have sitting around in a bank account will be basically worthless.

Edited December 9, 2024 by TF_Titan

[OILERMAN]

7 hours ago, TF_Titan said:

 

I can buy a refrigerator at Best Buy and pay with crypto. I can by groceries at Walmart and pay with crypto. I can book a trip through Expedia and pay with crypto. I can stop at a Texaco, fill up my gas tank and pay with crypto.  It absolutely is a currency accepted by tons of vendors...AMC Theatres, Bass Pro Shops, Chipotle, Home Depot...there are over 15,000 merchants that accept it as a legitimate currency...and not just BItcoin. This is from the newegg.com website:

 

 

Are you going to use btc for currency? Of course not

[OILERMAN]

It also didn't hedge against inflation as predicted. It went down when inflation went up. 

[OILERMAN]

2 hours ago, Titandan said:

On the macro, Bitcoin more than hedged against inflation.  

 

We watched it go down during high inflation

[pat]

The first thing to remember about crypto is that inventing currency is an ancient activity.  There have been booms and rug pulls for thousands of years.  Art work.  Precious metals.  Stocks.  Mutual funds.  These are all ancient.

 

There are also innovations.  Index funds appeared in the 1970s.  ETFs were created in the 1990s.

 

The real questions are - what are the fundamentals of the investment, and how does that fit into your portfolio.

 

BTC is a commodity with no intrinsic value, but with two things that make it valuable as a financial instrument: scarcity, and brand recognition.  Investing in commodities is about finding a greater fool, but with the scarcity of bitcoin, it tends to increase in value in a volatile manner.

 

Stocks, particularly when aggregated into an index fund, have an intrinsic value: a share of the creative and productive output of the workforce.

 

Meme coins have one basic intrinsic capacity - they enable rug pulls.  It’s fundamentally the same as BTC, with less brand recognition and less scarcity.  If you invest here, do so with the intention of quickly ripping people off.

 

Investing in the Hawk Tuah shitcoin is about the dumbest thing I can imagine, from a financial returns pov.

[pat]

Artwork, another form of scarce currency, at least has the intrinsic value of being fun to collect and look at.  Collecting art will get you into fun parties, and afterwards you’ll have a souvenir that might be worth something.

 

Buy paintings instead of shit coins, I’d say.

[Titans_Win_Again]

36 minutes ago, pat said:

Meme coins have one basic intrinsic capacity - they enable rug pulls.  It’s fundamentally the same as BTC, with less brand recognition and less scarcity.  If you invest here, do so with the intention of quickly ripping people off.

 

Many meme coins are actually more scarce than BTC as they have fixed supplies and 0 inflation. 

[pat]

4 hours ago, Titans_Win_Again said:

 

Many meme coins are actually more scarce than BTC as they have fixed supplies and 0 inflation. 

Meme coins splinter the meme coin market.  Hawk Tuah girl is competing with the don’t buy me kid for capital.  There’s an infinite supply of this BS.