Bitcoin sinks to new 13-month low

Discussion in 'The Lounge' started by HFBCommenter, Nov 19, 2018.

  1. Roman Fell #JYPNation

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    Crypto"currencies" are all pyramid schemes.

    They serve no real purpose unless you are a scumbag doing scumbag things. They are exceptionally bad on the environment and energy usage. And they prey on young people and less than knowledgeable "investors".

    f*** them all. Find a new use for blockchain that actually solves a problem instead of creating more. The technology has some potential, but it's current use is a shit show.
     
  2. The Crypto Guy Registered User

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    Cool beans brah, the amount of money I made from Crypto is more than you'll make in a decade from whatever minimum wage job you do :laugh:
     
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  3. Dakota Sioux Fly Eagles Fly!!!!

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    Did well myself. Got back in when it sunk to 3900 a coin. Doing well once again
     
  4. Dakota Sioux Fly Eagles Fly!!!!

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    He was to busy worshiping Tiger :)
     
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  5. Dakota Sioux Fly Eagles Fly!!!!

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    And it keeps going up up up!!!!
     
  6. ScottishCanuck Registered User

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    That's not strictly true. Now more than ever there are projects with a legitimate use cases (particularly around Directed Acyclic Graph tech). There was a time when these were just ideas, but now we're starting to see real world operations and networks being put into practice.

    Yes, you have to sift through a lot of crap to find something worthy of your investment - I'm not denying that - but they are out there.

    You can make the argument that cryptocurrency and the underlying blockchain tech are separate, and you'd be telling the truth to an extent. But by removing tokens / coins from the equation you're often removing the incentive to make the whole system work. When considering data validation or processing tokenised throughput or bandwidth can be really important.
     
    Last edited: May 6, 2020
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  7. Roman Fell #JYPNation

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    Bitcoin has limited application as a currency, hindered by technical limitations that have never been addressed to my knowledge. It can barely handle 300k transactions a day. Comparatively, Visa processes 150m transactions every day. Given that those bitcoin transactions include all the trading, while Visa's are purely purchasing, it starts to become very clear that bitcoin cannot sustain any kind of major usage as a currency. Couple that with the fact that Bitcoin's value can change so drastically on absolutely nothing, and it's difficult to have confidence in it as a means of purchasing, unless you're looking for something difficult to trace back to you.
     
  8. Dakota Sioux Fly Eagles Fly!!!!

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    Just hit 10 grand a coin today. Bought two coins when it was at 3870. I’m lovin it
     
  9. The Crypto Guy Registered User

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    :laugh:

    Get a load of this guy, thinking he knows stuff he can't even begin to understand.
     
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  10. Dakota Sioux Fly Eagles Fly!!!!

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    Seems to be that way with many topics he responds to
     
  11. ZDH Registered User

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    Hey Roman keep posting the exact same paragraph or two.

    We missed it the first 15 times you regurgitated it.
     
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  12. Bumpus Shhhhh...

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  13. Roman Fell #JYPNation

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  14. Bumpus Shhhhh...

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  15. Dakota Sioux Fly Eagles Fly!!!!

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    I did and now waiting for it to drop again. That was an easy 12 grand thank you
     
  16. Roman Fell #JYPNation

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    Crypto"currencies" are all pyramid schemes.

    They serve no real purpose unless you are a scumbag doing scumbag things. They are exceptionally bad on the environment and energy usage. And they prey on young people and less than knowledgeable "investors".

    f*** them all. Find a new use for blockchain that actually solves a problem instead of creating more. The technology has some potential, but it's current use is a shit show.
     
  17. hitman9172 Registered User

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    Serious question: is there a more speculative investment than cryptocurrency? I find it more akin to gambling than investing. I don't think they'll ever gain wide acceptance as currencies, and all the value seems to be in buying them and then hoping to flip them to someone else who's more bullish than you. There doesn't really seem to be any way to tie the returns to the actual value they provide.
     
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  18. Dakota Sioux Fly Eagles Fly!!!!

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    Yeah it’s a gamble for sure. But with that said I’ve done well with it over the last 2 plus years. I may not buy a coin or 2 again and I’m fine with that as is my bank account
     
  19. Dakota Sioux Fly Eagles Fly!!!!

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    You need a tissue?
     
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  20. Dakota Sioux Fly Eagles Fly!!!!

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    Glad I did and have. Gotta no when to hold em and when to fold em
     
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  21. Bumpus Shhhhh...

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    Insider tip ...

    It’s time to move on. The next huge investment opportunity lies in the form of toenail clippings of at least 1.146 grams in weight. You heard it here first. Personally, I’ve just received a mega shipment from the Crown Prince of Nigeria that I’m sitting on until this blows up. He assures me that it’ll be any day now. Don’t miss out!
     
  22. Dakota Sioux Fly Eagles Fly!!!!

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    What about fingernail clippings? That’s discrimination man
     
  23. Bumpus Shhhhh...

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    Fingernail clippings?!?

    Don’t be ridiculous, man.
     
  24. The Crypto Guy Registered User

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    [​IMG]
     
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  25. Dakota Sioux Fly Eagles Fly!!!!

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    I offered him one earlier :)
     

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