ESOC Crypto Corner

[Snuden]

FFS!
Now I need 2 cups of coffee to calm me down after this insane display of imbecility.

[deleted_user]

Easy there, tiger.

[Snuden]

You don't find it odd how she manage to contradict herself with only 1.5 lines of text?

[deleted_user]

On the contrary, I find it amusing!

[Snuden]

Ez to say when you have had your coffee, I have not!

gg no re out.

[lemmings121]

Satan all mighty... Spanky think bitcoin is some kind of pyramid scheme controlled by evil people... EleGiggle.
Little does she understand that it actually gives options to the billions of people without access to a bank, etc...

while some people are too quick to dismiss cryptos, to be fair, you are also super skewed to the other side.

I have talked a bit in this thread 30 pages ago, and i still hold that position.

You argue that "it actually gives options to the billions of people without access to a bank", but actually... as of today, it doest give them shit. they cant buy anything with it, and if they find someone acepting it, they will have to pay huge fees on transaction (at least in the case of bitcoin, I dont know all of the thousand alternatives, i'm sure you will point out that yyy coin has no fees)

I get it, in 20 years it may be something awesome with huge capabilities, and im hoping we get there someday..... but as of right now, its just a market of people buying and selling tokens in the hopes that tomorrow the tokens will have more value then today.

[Snuden]

I think a fee of 0.11 Euro is quite reasonable.

[Snuden]

Satan all mighty... Spanky think bitcoin is some kind of pyramid scheme controlled by evil people... EleGiggle.
Little does she understand that it actually gives options to the billions of people without access to a bank, etc...

while some people are too quick to dismiss cryptos, to be fair, you are also super skewed to the other side.

I have talked a bit in this thread 30 pages ago, and i still hold that position.

You argue that "it actually gives options to the billions of people without access to a bank", but actually... as of today, it doest give them shit. they cant buy anything with it, and if they find someone acepting it, they will have to pay huge fees on transaction (at least in the case of bitcoin, I dont know all of the thousand alternatives, i'm sure you will point out that yyy coin has no fees)

I get it, in 20 years it may be something awesome with huge capabilities, and im hoping we get there someday..... but as of right now, its just a market of people buying and selling tokens in the hopes that tomorrow the tokens will have more value then today.

I realize that I can be a bit edgy before my morning coffee but I simply can't stand, when people pretend they know something about a subject, while in reality all they are doing is confirming what Dunning & Kruger wrote back in 1999.

You can practically buy every single item from Amazon.com using Bitcoin.
You can safely store your Bitcoin.
You can send your Bitcoin across borders fast and cheap
Etc...

What we talked about 30 pages ago is already old news in the world of crypto.

[Snuden]

Watch this and see if you can make a connection to Bitcoin and blockchain technology in general.

phpBB [video]

[gibson]

I still dont understand plz explain daddy snuden

[Snuden]

Understand what, gib-son?

[lemmings121]

Watch this and see if you can make a connection to Bitcoin and blockchain technology in general.

cant watch right now, but thats not really the point, i understand what is the blockchain and its uses, many outside of coins, and thats good. I understand the theory behind the coins... thats great.

but you seem to ignore or give little importance to my argument, that 99+% of the market value in criptos currently isnt from people believing and buying those techs to use in 20 years, they are buying because they believe other will want to buy it too, so they can sell and cash in a larger amour of dollars then they spent to buy the tokens.

[Snuden]

Watch this and see if you can make a connection to Bitcoin and blockchain technology in general.

cant watch right now, but thats not really the point, i understand what is the blockchain and its uses, many outside of coins, and thats good. I understand the theory behind the coins... thats great.

but you seem to ignore or give little importance to my argument, that 99+% of the market value in criptos currently isnt from people believing and buying those techs to use in 20 years, they are buying because they believe other will want to buy it too, so they can sell and cash in a larger amour of dollars then they spent to buy the tokens.

Sorry. I thought it was more like a statement rather than a subject for debate.
I believe what you describe is called "speculation" or simply "investment" Whats wrong with that?

People invest in gold, silver, oil, rice, art, etc all the time.

[lemmings121]

Watch this and see if you can make a connection to Bitcoin and blockchain technology in general.

cant watch right now, but thats not really the point, i understand what is the blockchain and its uses, many outside of coins, and thats good. I understand the theory behind the coins... thats great.

but you seem to ignore or give little importance to my argument, that 99+% of the market value in criptos currently isnt from people believing and buying those techs to use in 20 years, they are buying because they believe other will want to buy it too, so they can sell and cash in a larger amour of dollars then they spent to buy the tokens.

Sorry. I thought it was more like a statement rather than a subject for debate.
I believe what you describe is called "speculation" or simply "investment" Whats wrong with that?

People invest in gold, silver, oil, rice, art, etc all the time.

The diference is that we are fairly certain that in 10 years silver and oil will still have value. Problem is that in the current state, I see criptos more like tulips then gold or rice.
Art is a bit more in between, we have seen many bubbles with pieces droping to near zero, while otherss keept value after centuries.

Dont get me wrong, im not in the bandwagon of "lets outlaw those coins and start arresting people!", I just see the current state of them as a veeeery sketchy and risky investiment, and pretending is as solid as buying gold is either beeing naive, or evil-minded, with the intention of making others buy, so the value goes up and you can sell for a profit and glfh to the buyers.

[Gendarme]

What we talked about 30 pages ago is already old news in the world of crypto.

Ye

[Snuden]

Show hidden quotes

Watch this and see if you can make a connection to Bitcoin and blockchain technology in general.

cant watch right now, but thats not really the point, i understand what is the blockchain and its uses, many outside of coins, and thats good. I understand the theory behind the coins... thats great.

but you seem to ignore or give little importance to my argument, that 99+% of the market value in criptos currently isnt from people believing and buying those techs to use in 20 years, they are buying because they believe other will want to buy it too, so they can sell and cash in a larger amour of dollars then they spent to buy the tokens.

Sorry. I thought it was more like a statement rather than a subject for debate.
I believe what you describe is called "speculation" or simply "investment" Whats wrong with that?

People invest in gold, silver, oil, rice, art, etc all the time.

The diference is that we are fairly certain that in 10 years silver and oil will still have value. Problem is that in the current state, I see criptos more like tulips then gold or rice.
Art is a bit more in between, we have seen many bubbles with pieces droping to near zero, while otherss keept value after centuries.

Dont get me wrong, im not in the bandwagon of "lets outlaw those coins and start arresting people!", I just see the current state of them as a veeeery sketchy and risky investiment, and pretending is as solid as buying gold is either beeing naive, or evil-minded, with the intention of making others buy, so the value goes up and you can sell for a profit and glfh to the buyers.

Why does gold have value?
You pretty much can't use it as payment anywhere, except maybe in Pattaya after midnight. Sending it to a friend or relative is not very efficient. Taking it across borders also impose several difficulties in many parts of the world.

In a world that's going more and more digital I can't imagine crypto not being the future.

I am old enough to remember a time, where it was beyond imagination that you and I would debate on a computer - in real time.
As technology progress, further progression happens even faster.

Yes, I very much believe in cryptocurrency and apparently so does the 6000 shops in South Korea, which soon will accept it :)

[Gendarme]

Yeah, crypto ain't going nowhere. With the rapid disappearance of cash, the need for crypto is ever-increasing, and luckily, crypto is even better than cash. We lucked out there!

[lemmings121]

Show hidden quotes

Watch this and see if you can make a connection to Bitcoin and blockchain technology in general.

cant watch right now, but thats not really the point, i understand what is the blockchain and its uses, many outside of coins, and thats good. I understand the theory behind the coins... thats great.

but you seem to ignore or give little importance to my argument, that 99+% of the market value in criptos currently isnt from people believing and buying those techs to use in 20 years, they are buying because they believe other will want to buy it too, so they can sell and cash in a larger amour of dollars then they spent to buy the tokens.

Sorry. I thought it was more like a statement rather than a subject for debate.
I believe what you describe is called "speculation" or simply "investment" Whats wrong with that?

People invest in gold, silver, oil, rice, art, etc all the time.

The diference is that we are fairly certain that in 10 years silver and oil will still have value. Problem is that in the current state, I see criptos more like tulips then gold or rice.
Art is a bit more in between, we have seen many bubbles with pieces droping to near zero, while otherss keept value after centuries.

Dont get me wrong, im not in the bandwagon of "lets outlaw those coins and start arresting people!", I just see the current state of them as a veeeery sketchy and risky investiment, and pretending is as solid as buying gold is either beeing naive, or evil-minded, with the intention of making others buy, so the value goes up and you can sell for a profit and glfh to the buyers.

Why does gold have value?
You pretty much can't use it as payment anywhere, except maybe in Pattaya after midnight. Sending it to a friend or relative is not very efficient. Taking it across borders also impose several difficulties in many parts of the world.

In a world that's going more and more digital I can't imagine crypto not being the future.

I am old enough to remember a time, where it was beyond imagination that you and I would debate on a computer - in real time.
As technology progress, further progression happens even faster.

Yes, I very much believe in cryptocurrency and apparently so does the 6000 shops in South Korea, which soon will accept it :)

funny how we can agree on every sentence in this post, and still reach diferent conclusions.

at least we got somewhere

[Radix_Lecti]

Bitcoin has had my interest since 2011 but I was too late to jump in. Seeing how weak the economic 'recovery' is currently it is actually quite likely that BTC will make that jump within a few years. I think xrp has future as well but banks might just as well use their own new currency. Xrp to me is a 70-30 gamble so all the money I might waste on silly donations I am now dropping on XRP.

@spanky4ever join me. What have these donations really brought us? I remember you actually got critiqued for asking about where your money had gone to! Put that extra drunk donation money on a monthly fun gamble!
XRP
https://toastwallet.com/

https://www.litebit.eu/en

And believe me @spanky4ever , a really tough economic crisis is coming none of the issues of the one in 2009 have been resolved yet. Btc 'might' go up once markets crash (it did in Zimbabwe), then again it has actually been following the US market, dispelling the idea it is a capital investment like gold. But it could eventually skyrocket, too. So let's put a few hundreds in XRP! It is easy and best thing you get something back for it. Currently 1:4 odds.
----------------------------------------------
SK shops might say they accept btc but asfaik they're restricted by law. Imo that was a marketing fad like mileage 'points' or 'cash' theyve been using since 2002 whenever you bought something. It does not replace the digital Korean won.

[Snuden]

I was referring to thish: https://btcmanager.com/bithumb-and-pays ... r-cryptos/

[Goodspeed]

What we talked about 30 pages ago is already old news in the world of crypto.

Ye

But you're still talking about Bitcoin though

[Radix_Lecti]

Oh wow THAT is actually huge. Kaokao and Samsung Pay is used for paying everything. I literally never have cash or cards with me there I use Pay for everything, even my hotel bill and nights out with 'girlfriends'. This is not just starbucks acting hip, this is true market adoption. Well pending on if Koreans would use something they consider as risky gold.
I will watch some news and report back.

[Snuden]

My metamask wallet is now a masternode. You may refer to me as SirSnuden from now on.

[Googol]

My metamask wallet is now a masternode. You may refer to me as SirSnuden from now on.

SLAYER SNUDEN

[Gendarme]

SirSnuden, Master of Shitcoins