When did you realize that crypto is nothing more than another instance of what economists call Greater Fool theory?

>I'm just going to ignore cold hard reality and call it "because reasons"

Your ponzi is done. Crypto is now synonymous with scam to the average person.

>i-it's really dead b-because s-some mythical "average" person i made up for some pathetic anecdotal evidence said so
lol ok

Lmao you haven't heard of Western Union? Nigga please

hah, you're not going to change any minds here. not to mention using financial terminology with people who think banks are some evil boogeyman.

>greater fool theory
>financial terminology
hello 105

Western union charges waaaaay to much to transfer money out of country.

((you)) must want to keep it that way

you're chances are at best 50/50, less if the exchanges are doing something shady.
the end result will might look similar to pic related

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I'm some faggot from the philippines and sending money via bitcoin is cheaper than any available medium (i'm currently in another country). i just sit in tether to protect against volatility (big issue right now) but it's still cheaper even accounting for the withdrawal fees in binance

I've met people in real life who don't care to understand what the difference between owning a coin and owning a share of a company
not entirely surprising since financial education isn't mandatory or even encouraged.

You might as well just send send money using tether.

i think OP forgot about drugs and other illegal transactions

>Western Union?
costs to a lot and sometimes takes days

>the stock market is done. Stocks are now synonymous with scam to the average person.

Find the difference. Everything is the same. Stocks are bought just to get more fiat later. The 'legitimate' uses like control over a company are about as important as the legitimate uses of crypto. So find the difference.

Protip, stocks are about to crash hard this summer.

holy fuck get off this board. western union is shit

most apparent difference would probably be that stock price is tied to the performance of the company. and pays out in either dividends or more assets under the company's name
despite common belief on this board, more people adopting blockchain does not necessarily mean higher crypto prices. you could theoretically fix the price of bitcoin and it wouldn't affect it's legitimate use case, regardless of how many people are using it.

>The 'legitimate' uses like control over a company are about as important as the legitimate uses of crypto

laughing out loud

You're right. More people use crypto to transfer funds internationally or for black market trades than people buy stocks to vote in stockholder's meetings.

completely irrelevant

>Nobody actually gets cryptocurrencies
There is nothing to get.

Ponzi is all you need to pray to when you worship this shit.

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>most apparent difference would probably be that stock price is tied to the performance of the company

Only superficially though. Mass psychology is a bigger factor in determining stock price than anything physical. If company performance were the primary determining factor of the stock market you wouldn't have bubbles/crashes completely detached from performance.

Many stocks also don't pay out in dividends/splits either.

>you could theoretically fix the price of bitcoin and it wouldn't affect it's legitimate use case

May actually make it more legitimate. Something isn't a useful currency when it's value fluctuates so much.

I'll enjoy watching your portfolio get wiped out over the summer.

Cryptos are the perfect example of the Greater Fool theory.
They have no intrinsic value, of all of the 1400 I don't even know how many shit coins there are, none of them has a real use case (deep web, apart). None of them as been adopted in the real world.
People just buy because they hope that their value grow up, so they can all be rich, cash out in FIAT and hope that BTC crash and burn right after.
I'm part of this shitshow, not going to fool anyone but I'm trying to face the reality, at least.

Even if shed had black dicks in her mouth?

Nigger are you fucking stupid?

Anyone who never saw this crypto crap as nothing but a ponzi is brain fucking dead.

> muh future decentralized currency

What you don't understand is how far and deep human greed is and that's why the only thing that can kill this crypto shit is the government.

As long as there is easy money to be gained there will be idiots willing to jump head first to it, that's why a whole fucking city was built in a water barren desert and kept completely under artificial means and guess what? Millions of idiots travel to such place every day under the promise they'll be rich overnight.

Guess which city I am talking about

>Mass psychology is a bigger factor in determining stock price than anything physical.
kind of in the short term. in the long term a country's market cap and it's GDP more or less line up.
as long as the underlying companies are doing fine then the stock price will inevitably yo-yo between too high and too low. after all, there's no way to calculate the exact price of a company other than thousands of approximate guesses.
>Many stocks also don't pay out in dividends
depends on what the company is trying to do. if you're apple and there are literally no more people to sell phones too, then the profits go to the company's owners (ie share holders). if you're selling hover boards and everybody wants one, then that money is better spent on another hover board factory.
>splits
don't think you know what a stock split is

>May actually make it more legitimate. Something isn't a useful currency when it's value fluctuates so much.
agreed, but then this board wouldn't be filled with people dreaming of getting rich quick and claiming stocks and coins are the same.

People don't spend their crypto becuase merchants don't often accept it, and also because their local currency is often 0% interest or close to it. They would rather spend the toilet paper that keeps dropping in price, rather than the asset that keeps gaining relative to that toilet paper.

>don't think you know what a stock split is

You said 'paying out in more assets under the companies name' which I assumed meant a stock split.

I'd also say for instance Eth represents something similar to a stock, a part of the distributed network. If you think distributed computing power is a reasonable commodity then it makes sense that Eth has underlying value.

Normans have the attention span of a goldfish. They'll come back to crypto someday. It might not be bitcoin next time though, maybe something else.

That guy is absolutely right. People who say that because crypto has sunk and made a comeback before means it always will are way beyond retarded so i wont bother with any (You)s because there is no convincing them

But basically, you need a greater group of fools to sell to in a bubble. If you get that, you can come back. But once you've pierced that final layer of the pyramid (the masses), the bubble pops for good.

If there is real fundamental technology then there can be a comeback (crypto has NOT achieved that status, people acting like crypto is already useful are usually either naive or professional scam artists), but no more funsy bubbly stuff

Don't be a fucking moron, stocks have the assets of a company backing it, crypto has nothing. Companies have worth, crypto has nothing but speculation.

Also blockchain is not specific to crypto so don't throw that out there. Maybe one day a crypto will become successful but it wont be any of these shitcoins.

>You said 'paying out in more assets under the companies name' which I assumed meant a stock split.
I mean that the company's profits go toward building more stuff for the company, instead of giving it out as dividends.
stock splits are a purely accounting move. you get twice as many shares, and they're all worth exactly half. yes this is mostly pointless
this is really basic stuff for someone thinking of themselves as a trader.

>If you think distributed computing power is a reasonable commodity then it makes sense that Eth has underlying value.
but you don't own any of that computing power, it's completely disjoint from any profits you make from the coin.

>When did you realize that [FIAT] is nothing more than another instance of what economists call Greater Fool theory?
>Almost nobody uses any of this crap. Nobody actually gets [FIAT] for any reason other than hoping to get more [GOLD] for it by hyping some other idiot into giving you more [GOLD], and the reason they are doing it with the assumption that they will be able to use the previous price increase as bait to lure yet another idiot in for a higher price...and on and on it goes until bust.

lmao you ever try and move 10k

The same time I realized that buying anything with other than groceries is also what economists call greater fool theory.

>stocks have the assets of a company backing it
>but you don't own any of that computing power

Stocks don't really entitle you to any of the company's physical assets either. Saying your piece of paper is backed by their infrastructure isn't meaningful, because if they go bankrupt you're the last in line to get anything from them being liquidated, meaning you will get nothing.

The ETH gives you a part of the network. The network itself has the value since it's the large store of computing power you can buy using the currency. 1000 GPU's networked together has a much greater value than 1000 separate GPU's.

Also, I perfectly well understood what a stock split is. Most people wouldn't say a company buying itself more assets as 'paying out'. Also stock splits also often end up with the stocks being worth more than half the initial value, again because of psychology. Nor is it entirely pointless, as many people may be more willing to buy a cheaper stock. Many people don't want a $200 share but may buy a $100 one. Again, it's psychology.

BUT SHE'S BEEN...... PLACES

>Stocks don't really entitle you to any of the company's physical assets either.
you do, just a very small portion of it. if you buy half the rights to a cake factory you'd also have to sign numerous contracts so you can't do shit like take home half the cakes every day. unless all the owners agree on it
if you've ever owned a share of a company they should have sent you a voting form in the mail. also regular performance reports
>Most people wouldn't say a company buying itself more assets as 'paying out'.
before you own part of a cake factory. after, you own a part of two cake factories. and the share you're holding is worth twice as much.
of course in reality this change is much more gradual.
>Also stock splits also often end up with the stocks being worth more than half the initial value, again because of psychology
it is psychological, but companies only split when they're doing well, the price was probably going up anyways. even with a few more individual traders, the impact on price is negligible.

>The network itself has the value since it's the large store of computing power you can buy using the currency
people aren't buying ETH because they want the computer power, they're buying it because they want to sell it at a higher price. it's still the same speculation
and since you're specifying ETH, are you agreeing with me on other crypto?

Crypto also used to be synonymous with drugs and terrorism and people got over that

This too shall pass

>you do, just a very small portion of it
so youre saying a price stock doesnt even guarantee most of its valuation.
there really isnt that much difference between stocks and crypto

i unironically think fundamentally bitcoin has more backing than gold silver or even stocks. gold 2.0, trades 24h7 and less speculative than tech stocks

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>so youre saying a price stock doesnt even guarantee most of its valuation.
did you flip that around? the valuation is determined by people looking at the company and adding up the value of all the stuff it owns. it's somewhat subjective based on methodology and risk tolerance but there's a general ballpark. the stock price tries to reflect this as much as possible.

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Not really, since the person who holds the stock holds ownership in a physical company
Not to mention a stocks value is based on the percieved value of the company and their products/services. A bitcoins value is based on how much you think it will go up in the future. That's pure speculative growth, and not actual value.

> the valuation is determined by people looking at the company and adding up the value of all the stuff it owns
absolutely false

well it's more complicated than just physical assets. potential growth, R&D, competition, etc.
you could make a lot of money if you can find proof that most people are doing it wrong. not hard to get the financial report of most companies and estimate the value of it's assets by hand.

physical assets is a minority consideration in many industries, since you dont even need to technically own anything to make a profit.

the specific classification is besides the point.
facebook has it's value tied up in intangible assets like patents, intellectual property, brand recognition, user data, etc. all stuff you can label and slap a price on and count towards it's market valuation.

Vegas babaaay

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day 1

I bet you still believe everyone needs a landline in their home.

>>slap on a price
yea.
well.bitcoin has a price too faget

Yeah its called a wire transfer costs 25 bucks national 50 bucks international.

It's about banking the unbanked. Hush bank shill

Why are you here posting?

Thanks for the FUD bought more

Everytime i see her i automatically think about how nasty her pussy looks idk that image just stuck with me

Nocoiner cucks have been telling me the same thing since Bitcoin was $8 each. But you continue to get BTFO after every single rally and influx of adoption. I'll continue holding this digital gold until the day I die. You can keep your deflationary FIAT and shiny metals.

inflationary*

imagine being this retarded.

Why do they all have giraffe necks?

> bitcoin less speculative than tech stocks
> goes from $1000 to $20,000 in a year fpr absolutely no reason.