dudalb
Penultimate Amazing
Merged Bitcoin - Part 3
- Thread starter Dr.Sid
- Start date
-
- Tags
- bitcoin cryptocurrency
dudalb
Penultimate Amazing
I note that the crypto currency defenders here seem all to be people who fancy themselves as anti establishment types.
It was the debate with the gold guy on youtube that sounded reasonable. Will look for the link.Yeah, that guy looks really reasonable to me..........
Both sides argued civilly and of course I liked the gold guy but Saylor looked right at the time on the current trends.
He looks hopelessly wrong now and his life must be misery.
Dr.Sid
Philosopher
What is value ? It has a price ..
Meanwhile Jim Cramer ridicules poor old Saylor. Under 21k MicroStrategy risks liquidation.
https://www.tradingview.com/markets/cryptocurrencies/news/
https://www.tradingview.com/markets/cryptocurrencies/news/
Babbylonian
Penultimate Amazing
- Joined
- Feb 22, 2007
- Messages
- 14,103
It's clear that block[chain]heads don't understand what bubbles are and why they burst. Put simply, it's when a market is wildly overvalued (bubble) and then people realize it and run away from the overvalued investments (burst). Usually, these things have a floor because there is some inherent value in <x> number of investments. The problem with Bitcoin in specific and blockchain in general is that x=0. They are wasted electricity, period. Hopefully, the entire sector will die in flames before we have to ban it in an attempt to prevent humanity from dying in flames.
psionl0
Skeptical about skeptics
The problem with anti-block[chain]heads is that because they have no desire to use a crypto currency, it must have zero intrinsic value. They insist that their dog is really a cat because it has 4 legs.
Yes, because we need more police, lawyers, judges, prison officers and jails.
psionl0
Skeptical about skeptics
A 24 hour snapshot can prove anything but if you look at the trend over several months the you will see that I am correct.
Coinbase to lay off 18% of its ~5,000 person workforce and suggest "crypto winter" is coming.
https://www.cnn.com/2022/06/14/investing/coinbase-layoffs-bitcoin-crypto/index.html
https://www.cnn.com/2022/06/14/investing/coinbase-layoffs-bitcoin-crypto/index.html
Suddenly
No Punting
Yes, because we need more police, lawyers, judges, prison officers and jails.
Probably not, but we need to be allocating way more of them large scale financial shenanigans rather than counterproductive controlled substance interdiction.
Dealing with this level of fraud is what all those cops should be doing rather than pulling over people for changing lanes too fast or too slow in a fishing expedition to see if someone in there has a quarter bag.
EaglePuncher
Banned
- Joined
- Jan 16, 2022
- Messages
- 691
BTC down to 21K, guess it's time to buy the dip, lol.
psionl0
Skeptical about skeptics
Banning alcohol production was counter productive. Banning recreational drug use was counter productive. Therefore banning cryptos will work?
Good point - I would love it if we could work toward programs that give people more meaning in their lives and leave them less susceptible to addiction to substances or gambling.Banning alcohol production was counter productive. Banning recreational drug use was counter productive. Therefore banning cryptos will work?
ETA - I wouldn't "ban" cryptos either, but I'd regulate them with the SEC, not the CFTC like the crypto-friendly Gillebrand proposed bill does.
Yes, I did say "right now" after all.
Bitcoin is slightly outperforming most of the other non-stable cryptos year-to-date (see far right #).
[IMGw=600]https://i.imgur.com/Lga4c4i.jpg[/IMGw]
Last edited:
Suddenly
No Punting
Banning alcohol production was counter productive. Banning recreational drug use was counter productive. Therefore banning cryptos will work?
Leaving out that "large scale financial shenanigans" does not equal "banning crypto..."
Yes, these spacious arguments are fun. I guess banning murder didn't work either so to heck with that. (insert inane emoji here)
There are roughly a million ways that financial regulation differs from addressing drug use with criminalization, and it's hard to take seriously a person that doesn't grasp that.
psionl0
Skeptical about skeptics
That doesn't mean much to me. I need to see what sort of regulation you want to see.
FWIW people who use cryptos to hide income and evade taxes deserve no mercy. (Ditto for people who provide false warranties). That doesn't mean that cryptos need more regulation by the tax man than other assets.
dudalb
Penultimate Amazing
Jim Cramer ridculing somebody over giving bad finiancial advice:
Talk about the pot calling the kettle black....
Regulating things like tokens and coins as securities, since they are securities. The bought-and-paid-for senators want to regulate coins as we regulate commodities like gold or corn, which is much less oversight, and would be exactly what the crypto industry wants.
https://www.bloomberg.com/news/arti...n-that-is-now-world-s-fifth-largest#xj4y7vzkg
bloomberg said:
Regarding taxes and money laundering, regulators could try to do something about things like tornado cash.
Last edited:
psionl0
Skeptical about skeptics
If you mean that cryptos should be regarded as an interest in some property then I disagree - unless an ICO comes with a promise of exchangeability.
Most cryptos like bitcoin offer no interest in anything. That is why they come under so much (unwarranted) criticism.
If I wanted secure crypto I would be in bitcoin.
The others all look tainted by human interference to me.
Look at etherium coding in a difficulty bomb for example.
What nonsense, I might buy bitcoin eventually at 8k.
Last edited:
Similar threads
