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Was Bitcoin not an alternative investment to the stock market?

#22
Golden Fleece said:
In a nutshell, that concisely summarizes the failure of Bitcoin. It is utterly useless as a currency for the masses.
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That is also a basic claim often made. Giving some free advice here ;)

Long term due to its deflationary nature, it is way up. Even the Fed of st. louis published bitcoin/eggs and the deflationary nature becomes obvious for everyone.
Fluctuation go down over time even in short term as it is growing (all network metrics point to this).
Also, it the "wild fluctuations" are only bc you quote it against some fiat currency of which you have 0 idea of its quantity outstanding and issuance.
A rubber band also fluctuates wildly compared to a meter.
 
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#23
To be honest I want it to crash and go as low as possible so a lot of maximalist get their funds destroyed (both on BTC and ETH)... I hope after that we start thinking about the tech and for what it can be used in the real world, it's stupid that we are using it to speculate on monkey pictures instead of useful stuff like buy/sell like real estate in a matter of seconds instead of months and months.

I mean stuff like NFTs are such a good concept and we could remove a lot of useless middleman fees plus reducing time a lot but here we are using it for useless monkeys pictures
 
#24
latindev said:
To be honest I want it to crash and go as low as possible so a lot of maximalist get their funds destroyed (both on BTC and ETH)... I hope after that we start thinking about the tech and for what it can be used in the real world, it's stupid that we are using it to speculate on monkey pictures instead of useful stuff like buy/sell like real estate in a matter of seconds instead of months and months.

I mean stuff like NFTs are such a good concept and we could remove a lot of useless middleman fees plus reducing time a lot but here we are using it for useless monkeys pictures
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you will regrete the day they will implement it into society
 
#26
latindev said:
It already exists. I'll rather be able to use it in my favor instead of having to accept that only a few guys in power can use it
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you don't know what you are talking about.......
peoples nightmare coming true

1655172711381.jpeg


You are giving these people now full power over everyones money even on each targeted individium now....no escape anymore
You like majority of people live in the ilusion that crypto was made by anty bankers and government.......
FALSE they just have been used in the beginning and nothing more
 
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#27
369 said:
you don't know what you are talking about.......
peoples nightmare coming true

View attachment 3825

You are giving these people now full power over everyones money even on each targeted individium now....no escape anymore
You like majority of people live in the ilusion that crypto was made by ant bankers and government.......
FALSE they just have been used in the beginning and nothing more
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Dafuck you're talking about? First of all I'm not against banks, I even prefer to have as many banks as possible so I can get into services at cheaper prices (I will take care of watching balance reports so I don't put money on shitty banks, I don't give a f**k if people lose their money by scam banks). Second they already have full power over your money, it's called financial regulations and with the press of a button they can just seize your funds meanwhile if they don't have access to my keys in the cryptoworld they can kill me and still don't get my funds.

I know about coding, I create non seizable software for a living so I know of what I'm talking about
 
#28
latindev said:
Dafuck you're talking about? First of all I'm not against banks, I even prefer to have as many banks as possible so I can get into services at cheaper prices (I will take care of watching balance reports so I don't put money on shitty banks, I don't give a f**k if people lose their money by scam banks). Second they already have full power over your money, it's called financial regulations and with the press of a button they can just seize your funds meanwhile if they don't have access to my keys in the cryptoworld they can kill me and still don't get my funds.

I know about coding, I create non seizable software for a living so I know of what I'm talking about
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you can always escape with fiat in your beloved crypto there won't be any escape anymore.
don't talk how beautiful crypto is when not seeing the consequnces free people will have
 
#29
369 said:
you can always escape with fiat in your beloved crypto there won't be any escape anymore.
don't talk how beautiful crypto is when not seeing the consequnces free people will have
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Right, tell that to people in Argentina or in Venezuela leaving the stupid left thinking governments they have thanks to crypto :rolleyes:... Btw "crypto" is something you have been using for multiple decades and you will continue using it in the future (every single day and it doesn't matter if you don't know it). That's why I said about focusing in the tech instead of the financial side of it.

Again: dafuck you're talking about?
 
#31
Golden Fleece said:
The smart, wealthy people left Venezuela and Argentina well before there was any need to resort to crypto.

It was the stupid fools -- who could not see the handwriting on the walls -- who had to resort to crypto.
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The wealthy left the country? lol you clearly haven't visited those countries, there are a lot of rich people (and not so rich too) that still love living there because is way easier than following the law in other countries, there is no cheaper country in the whole American continent to have an everyday party lifestyle than those countries (cheap good sex, cheap alcohol, no need to follow rules and cheap lands so you can have your own oasis)

It's only the middle class who need to use cryptos because they don't have access to the financial services those in power have. Plus the reason cryptos are getting popular is not just because "get rich quick" but because is easier to use and because both countries handle a lot of remittances

I lived a lot of years in both countries, if you're going to tell me something at least try to say something that is true
 
#32
latindev said:
I lived a lot of years in both countries, if you're going to tell me something at least try to say something that is true
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You obviously don't know much. The ninth and tenth wealthiest persons in Venezuela own less than $3 million in assets. Almost every town, city, and hamlet in the U.S. have a few people with more wealth than that. Most of the few wealthy families who remained have direct ties to the socialist government. In fact, number nine on the list is the Venezuelan President.

https://moneyinc.com/richest-people-in-venezuela/
In fact, Venezuela lost 16% of its millionaires in a single year -- and its socialism has gone on for decades.
The 12 percent decline in Turkey’s millionaire population last year was by far the largest of any major economy, and second only to the 16 percent decline in Venezuela
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https://www.nytimes.com/2018/06/02/opinion/sunday/millionaires-fleeing-migration.html
According to the country’s leading universities, 87 percent of the population is now officially poor.
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https://www.rappler.com/world/205520-venezuela-millionaires-new-poor/
 
#33
latindev said:
The wealthy left the country? lol you clearly haven't visited those countries, there are a lot of rich people (and not so rich too) that still love living there because is way easier than following the law in other countries, there is no cheaper country in the whole American continent to have an everyday party lifestyle than those countries (cheap good sex, cheap alcohol, no need to follow rules and cheap lands so you can have your own oasis)

It's only the middle class who need to use cryptos because they don't have access to the financial services those in power have. Plus the reason cryptos are getting popular is not just because "get rich quick" but because is easier to use and because both countries handle a lot of remittances

I lived a lot of years in both countries, if you're going to tell me something at least try to say something that is true
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There is no doubt that btc has utility,however the law of ever changing cycles has caught up with it for the time being.We will have to wait for some time till we get another bull market
 
#34
Golden Fleece said:
You obviously don't know much. The ninth and tenth wealthiest persons in Venezuela own less than $3 million in assets. Almost every town, city, and hamlet in the U.S. have a few people with more wealth than that. Most of the few wealthy families who remained have direct ties to the socialist government. In fact, number nine on the list is the Venezuelan President.
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Right, because those with lot of money in one of the most corrupted and dangerous countries in the world will have their wealth publicly known... Are you really on an offshore forum? rof/% So accurate the list that they don't even list people like Cabello or those helped by already jailed guys like Gustavo Frieri to launder a few millions of dollars with properties in the US from a few small fishes in the oil industry (and like always, only the small guys are the ones who pay with jail).

Now... I feel this has nothing to do with the topic

fortunespeculator said:
There is no doubt that btc has utility,however the law of ever changing cycles has caught up with it for the time being.We will have to wait for some time till we get another bull market
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The problem I see with another bull market is that people will continue thinking these native chain assets are good investments with the current use case of the networks (which is basically only get rich quick schemes), native assets (ETH for example) are like commodities and its demand depends on the utility in its chain which if we use it just for cycle speculation are going to be doomed as long as there are better options in the market so at least I don't believe in their long term longevity... Now, if we really create real world utility in them then yeah it's a good investment (and maybe an alternative to the stock market) because there will always be demand for those native assets.

For example do you think people will continue demanding ETH in the same way they do it now once the monkey pictures and the play-to-earn junk games lose their momentum? probably not because those are just use cases which can bust and no one will care about (maybe only those who bough at the top) but if instead we have real world utility in the chain that's another case... which I don't think we have reached yet
 
#35
latindev said:
Right, because those with lot of money in one of the most corrupted and dangerous countries in the world will have their wealth publicly known... Are you really on an offshore forum? rof/% So accurate the list that they don't even list people like Cabello or those helped by already jailed guys like Gustavo Frieri to launder a few millions of dollars with properties in the US from a few small fishes in the oil industry (and like always, only the small guys are the ones who pay with jail).

Now... I feel this has nothing to do with the topic


The problem I see with another bull market is that people will continue thinking these native chain assets are good investments with the current use case of the networks (which is basically only get rich quick schemes), native assets (ETH for example) are like commodities and its demand depends on the utility in its chain which if we use it just for cycle speculation are going to be doomed as long as there are better options in the market so at least I don't believe in their long term longevity... Now, if we really create real world utility in them then yeah it's a good investment (and maybe an alternative to the stock market) because there will always be demand for those native assets.

For example do you think people will continue demanding ETH in the same way they do it now once the monkey pictures and the play-to-earn junk games lose their momentum? probably not because those are just use cases which can bust and no one will care about (maybe only those who bough at the top) but if instead we have real world utility in the chain that's another case... which I don't think we have reached yet
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In a bull market only the bull items for that particular item will be considered by the market so i am quite sure that more use cases will be found when that new bull market arrives.Utility of cryptos cannot be undermined in terms of the fact that you can send money to someone easily and mostly btc is inflation proof so better than fiat i would say.Rest we have to wait for the next bull market to find out.
 
#37
Golden Fleece said:
How so? Inflation is at the highest point in forty years -- and Bitcoin has lost about 60% of its value.

How is that possibly inflation proof?












There is only going to be a fixed amount of BTC ever.As for fiat it can be printed upto the moon.Even Gold loses value when its bull market ends but still it is inflation proof.I would rather say that BTC is atleast better than Gold in some aspects because Gold is being produced every day.All the land in the world is also of limited supply.BTC is probably better than both Gold and Fiat as a digital currency.
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#39
Golden Fleece said:
Again, in the highest inflationary period in forty years, then why Bitcoin has lost about 60% of its value?
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Very simple you are in a bear market both equities and crypto are participating in it.Even Gold goes down sometimes in an inflationary environment - check charts.There is no value economics in a market caught in a trend.The only economics here is there are more sellers than buyers now.
 
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