zerosum 234 Posted January 17, 2018 Share Posted January 17, 2018 Mad eh. I bought a few this afternoon.. will shift them into fct tomorrow. Link to comment Share on other sites More sharing options...
TheGingerQuiff 2412 Posted January 17, 2018 Share Posted January 17, 2018 I think Bitcoin will probably recover before the alts, might not be for a few weeks though Link to comment Share on other sites More sharing options...
Gemmill 34330 Posted January 18, 2018 Share Posted January 18, 2018 Wait what's happened lads? Link to comment Share on other sites More sharing options...
Gemmill 34330 Posted January 18, 2018 Share Posted January 18, 2018 Oh I see. It's lost 50% of its value. It's almost as if there's nothing of substance to support the price. Link to comment Share on other sites More sharing options...
TheGingerQuiff 2412 Posted January 18, 2018 Share Posted January 18, 2018 Just now, Gemmill said: Oh I see. It's lost 50% of its value. It's almost as if there's nothing of substance to support the price. Unlike stocks and shares that only ever rise. Link to comment Share on other sites More sharing options...
Gemmill 34330 Posted January 18, 2018 Share Posted January 18, 2018 Just now, TheGingerQuiff said: Unlike stocks and shares that only ever rise. Yeah but I would no sooner put my money into a company I knew nothing about than I would bitcoin. Also, there's a fundamental difference. There's a company behind the value of a share. There are people working for that company, it's producing a good or a service. There's something tangible there against which to make an assessment of valuation. Youve said above "I think Bitcoin will rally before the alts". On the basis of what? Because it was that much before so it has to go that high again. That's just hope. Link to comment Share on other sites More sharing options...
ewerk 26229 Posted January 18, 2018 Share Posted January 18, 2018 At least with the tulip bulbs you could've been left with a nice garden. Link to comment Share on other sites More sharing options...
adios 717 Posted January 18, 2018 Share Posted January 18, 2018 You can have a garden of hash plants with bitcoin. Link to comment Share on other sites More sharing options...
TheGingerQuiff 2412 Posted January 18, 2018 Share Posted January 18, 2018 3 hours ago, Gemmill said: Yeah but I would no sooner put my money into a company I knew nothing about than I would bitcoin. Also, there's a fundamental difference. There's a company behind the value of a share. There are people working for that company, it's producing a good or a service. There's something tangible there against which to make an assessment of valuation. Youve said above "I think Bitcoin will rally before the alts". On the basis of what? Because it was that much before so it has to go that high again. That's just hope. On the basis of market trends. What's tangible is subjective though. What's tangible about actual "fiat" currency? Link to comment Share on other sites More sharing options...
TheGingerQuiff 2412 Posted January 18, 2018 Share Posted January 18, 2018 Link to comment Share on other sites More sharing options...
TheGingerQuiff 2412 Posted January 18, 2018 Share Posted January 18, 2018 Link to comment Share on other sites More sharing options...
TheGingerQuiff 2412 Posted January 18, 2018 Share Posted January 18, 2018 Link to comment Share on other sites More sharing options...
adios 717 Posted January 18, 2018 Share Posted January 18, 2018 28 minutes ago, TheGingerQuiff said: BTC != Blockchain. I don't believe it will succeed as a currency or as a Blockchain technology for contracts or autonomous cars for example. It is purely a speculative investment and has value only as it's tied to Blockchain. I'm happy to listen to the other side. Link to comment Share on other sites More sharing options...
TheGingerQuiff 2412 Posted January 18, 2018 Share Posted January 18, 2018 1 hour ago, adios said: BTC != Blockchain. I don't believe it will succeed as a currency or as a Blockchain technology for contracts or autonomous cars for example. It is purely a speculative investment and has value only as it's tied to Blockchain. I'm happy to listen to the other side. It's got value as a store of wealth, in the same way as gold has despite at the end of the day being a pointless lump of metal Link to comment Share on other sites More sharing options...
Gemmill 34330 Posted January 18, 2018 Share Posted January 18, 2018 Nope. Link to comment Share on other sites More sharing options...
adios 717 Posted January 18, 2018 Share Posted January 18, 2018 2 minutes ago, TheGingerQuiff said: It's got value as a store of wealth, in the same way as gold has despite at the end of the day being a pointless lump of metal Why is it necessary if we already have gold? A standard around the world for thousands of years. I suppose it's useful as a hedge? It seems the price is largely being driven by speculation; what is the naked value (to the nearest thousand or even five thousand) of it as a store of wealth? As to your question about fiat, it is in the interests of the most powerful people in the world that it does not collapse (assuming major currencies). It's also in all of our interests given the probable armageddon that would follow a true global financial collapse. We found out post-2008 what happens when the status quo is in danger of collapsing, they just change the rules. Bitcoin is great because it's free from government control, it also lacks their protection. The problems that Bitcoin has, I feel, are being resolved too slowly to cope with how fast this kind of technology moves these days. Link to comment Share on other sites More sharing options...
adios 717 Posted January 18, 2018 Share Posted January 18, 2018 Do you think diamonds are pointless lumps of carbon btw or do they have inherent value? Link to comment Share on other sites More sharing options...
TheGingerQuiff 2412 Posted January 18, 2018 Share Posted January 18, 2018 Just now, adios said: Do you think diamonds are pointless lumps of carbon btw or do they have inherent value? No and I don't think gold is a pointless piece of metal either. That's the point im making Link to comment Share on other sites More sharing options...
adios 717 Posted January 18, 2018 Share Posted January 18, 2018 Can you please describe the inherent value of each of diamonds, gold, frankincense and bitcoin? Link to comment Share on other sites More sharing options...
TheGingerQuiff 2412 Posted January 18, 2018 Share Posted January 18, 2018 No. Link to comment Share on other sites More sharing options...
adios 717 Posted January 18, 2018 Share Posted January 18, 2018 Potatoes? Link to comment Share on other sites More sharing options...
TheGingerQuiff 2412 Posted January 18, 2018 Share Posted January 18, 2018 Why don't you short bitcoin? Link to comment Share on other sites More sharing options...
adios 717 Posted January 18, 2018 Share Posted January 18, 2018 Because then I would have to speculate on something I haven't got the first clue about. Link to comment Share on other sites More sharing options...
Kevin Carr's Gloves 3187 Posted January 18, 2018 Share Posted January 18, 2018 Blockchain is an open source protocol it has no intrinsic value because anybody can copy it if they want. Bitcoin is something which uses blockchain and just has a value because it aids criminal enterprises. Link to comment Share on other sites More sharing options...
TheGingerQuiff 2412 Posted January 18, 2018 Share Posted January 18, 2018 (edited) 1 hour ago, Kevin Carr's Gloves said: Blockchain is an open source protocol it has no intrinsic value because anybody can copy it if they want. Bitcoin is something which uses blockchain and just has a value because it aids criminal enterprises. Or takes business away from criminal enterprises, depends on how enlightened you are. Bitcoin also has a capped 21,000,000 supply. If copied it becomes a lower value altcoin, not bitcoin. So bitcoin cant be copied. Edited January 18, 2018 by TheGingerQuiff Link to comment Share on other sites More sharing options...
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