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Merged Bitcoin - Part 3

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Dr.Sid said:
With $550 billion market cap ? You must be watching some really famous youtubers.
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I can write "550 billion dollars of JoeMorgueBucks" on a piece of paper all I want. I still can't pay my mortgage with it.

Enron was worth 70 billion until someone had the bright idea of going "Hey does anyone know what the company actually does and can we maybe take a quick peak at its books?"

The possibility that you might one day be able to buy pretty flowers in the future was worth 10,000 Guilders in 1590s Netherlands until it wasn't.
 
JoeMorgue said:
I can write "550 billion dollars of JoeMorgueBucks" on a piece of paper all I want. I still can't pay my mortgage with it.

Enron was worth 70 billion until someone had the bright idea of going "Hey does anyone know what the company actually does and can we maybe take a quick peak at its books?"

The possibility that you might one day be able to buy pretty flowers in the future was worth 10,000 Guilders in 1590s Netherlands until it wasn't.
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Indeed. It's quite far fetched to compare bitcoin to bathtub water though, wouldn't you agree ?
 
Dr.Sid said:
Indeed. It's quite far fetched to compare bitcoin to bathtub water though, wouldn't you agree ?
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Of course.

Bathwater actually exists.

Beyond that spare me yet another "LOL the factually correct side mildly exaggerated something for effect, stop the conversation and focus on that" routine.
 
Dr.Sid said:
Indeed. It's quite far fetched to compare bitcoin to bathtub water though, wouldn't you agree ?
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Did the value of GamerGirl Bathwater drop? I would assume the value of these e-girl curios turned out to be safer bet than TerraLuna. But then again, what isn't? Monetizing the horniness of perpetually online men seems a stronger value proposition than all this crypto crap.

Waiting for Vanguard to incorporate e-girls into my 401k options.
 
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Dr.Sid said:
I see .. I suspected this was actually a clown contest. Sorry for misunderstanding.
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Oh I'm terribly sorry. Here's 1,000 JoeMorgueBucks to compensate you for your time. They are worth a million bucks (disclaimer if you can find someone to buy them for that amount.)
 
psionl0 said:
I think you know what I am getting at but are trying to shift the goal post.

"Someone that accepts it is worth something" means someone that is willing to give money in exchange for it (ie buy it).
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What part of "Unless I can find someone that accepts it is worth something, it is useless . . ." do you not understand? I'm trying to buy something I want. Cash works. Bit-thingies don't if I cant find someone to accept them. If I go on a barter site like swapsity.ca I may find someone who is prepared to swap my cat for a bicycle. Does that make cats currency? :rolleyes:
 
You WILL not get an answer from any of the Cryptobros as to what Bitcoin can do as a currency that the green picture of Andrew Jackson I have in my wallet right now can't do better because their entire house of cards falls down if they do.
 
psionl0 said:
Are you trying to argue that bitcoin is a currency?
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I just peeked at the very first thread in part one of this thing, from 10 years ago. It was about the most important currency in the history of currency, superior to all other currencies in existence. :)

To be fair, IIRC, psionl0 was always arguing much more for the "store of value" definition of currency than the "thing you use to buy things" definition of currency.
 
Gord_in_Toronto said:
Somebody much more knowledgeable than I weighs in:

Crypto Could Be Contagious

https://www.bloomberg.com/opinion/a...agion-could-go-beyond-bitcoin-ethereum-tether

"When in trouble, when in doubt: run in circles, scream and shout"

Enjoy.
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This is exactly the concern I've had for a while now, that crypto will become so large that its wild volatility will start to impact the wider financial world. If it gets big enough, it won't matter whether an individual is gambling with it or not, because the crash will have huge downstream effects for everyone.
 
I know that Tether reaches into a lot of institutional money, but I'm very skeptical that the noise created by a broader crypto collapse will seriously harm global markets, any more than a pandemic, ground war in Europe, inflation spike and social upheaval in Shanghai already have.

The "Market cap" of Crypto is down to a Trillion and a half, and of course, that number isn't real at all; it's just multiplying the fake value times the quantity. If it liquidated, the total sales value in real money could be half a billion on the way down, all in. So a trillion in "losses" vs. the "market cap." There would be hiccups for pension funds, etc., but it would be far better for this collapse to happen now, before more legit markets could get hurt.
 
People started freaking out about inflation around 6 months ago. The delta between Bitcoin and the US dollar is 60% during that time.

[IMGw=640]https://i.imgur.com/BTjXbgD.png[/IMGw]

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Those numbers are meaningless. How may JPGs of hideously ugly ape art will that buy me?
 
SuburbanTurkey said:
Did the value of GamerGirl Bathwater drop? I would assume the value of these e-girl curios turned out to be safer bet than TerraLuna. But then again, what isn't? Monetizing the horniness of perpetually online men seems a stronger value proposition than all this crypto crap.

Waiting for Vanguard to incorporate e-girls into my 401k options.
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I'm sure thirstcoins are coming sooner or later.
 
gnome said:
I'm sure thirstcoins are coming sooner or later.
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How many NFTs will you sell that idea to me for? Sounds like it could be a real money maker. Do you accept snookcoin*?

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* Give me a couple of minutes I'm setting that one up.
 
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