So, I get it's like a way for people to exchange real money or buy stuff into like data or whatever cause it's unalterable. So, that's fine.
But, like, how the fuck do you invest in something like that? Aren't you supposed to invest in shit that makes profit, i.e. sells something. Crypto isn't selling anything. It's just a kind of currency.
It's all a ponzi/greater fools theory. Buy into something pre-hype, wait, dump it on other people. They become the bagholders. rinse and repeat.
You are 100% correct. The entire market is a ponzi scheme. The only coins that are not a ponzi are coins that actually do something specific.
>Why do people invest in gold, doesn't generate profit ???
Interesting...
Gold can be used for stuff though. Its on motherboards and stuff.
There are who chase silly %30-%300 "profits", they look at this as if it's a ponzi, zero sum game
Then there are others, bet on btc becoming the global norm, replace dollar and act as a stabilizer for global economy, a chance to avoid/dodge/dis-intermediate banks, governments and other financial institutions. We don't chase silly usd profits, we are trying to enlarge our btc stack, because once what we expect happens, we won't be needing usd anymore.
>buh it's not a business that make profit so why invest. isn't selling a thing just a kind of currency really
But wouldn't that involve dumping lots of USD currency into btc? And, wouldn't that be just like transforming USD into btc? So, you're switching the format, but the value will still be the same.
That's like saying you're selling your $10 dollar bill for $10. It's just a conversion. It doesn't make a profit.
nah it's a kind of art
why invest in picasso paintings?
>exactly, doesn't make profit! only buy things that make profit, become rich! we figured it out user! all those stupid people buying assets that aren't generating profits so dumb KEK
Thats what I always asked myself too
Why would a coin be more valuable if its used more often?
Why cant we invest in any companies working with crypto?
Now I see what Buffet and others meant when they said crypto is ending badly.
t. gold is a ponzi
Ok wait. Crypto is just taking your current currency and making it into another kind of currency. There is no change in value. Your $10 dollars USD is still $10 USD, but now it's in BTC. Nothing is being bought or sold. A Picasso paintings or gold is something you can buy or sell.
Larping is fun!
I think it's alright. Never done it myself.
Mom STOP ruining our FUN
Now that we've figured out how to be rich what are we gonna do now I wanna buy a bunch of action figures and start my own money making company to make more money!!
Well, what about we stop worrying about being rich. Instead, we should become super heroes and fight crimes.
why would we worry about being rich we just outsmarted thousands of years of financial foundation i don't have a worry in the world now
Well there's still crime in the streets. That's kinda worrisome don'cha think?
no actually not at all
Except gold is used in the industry.
Well there is for me. I live in a goddamn murder capital
vanishingly small amount of it, that would support a price no higher than copper, gold has the prize it does because it's a ponzi not because of industrial use
It is also this, It is also the ability to model an ecosystem. It is also a stock market 2.0 where no name teams can raise money. It is also a globally connected value network.
It's so many things, no wonder you are confused.
Yes I think gold only has value cause it's rare, pretty looking, and malleable. Even then, our currency isn't even based on it anymore.
Go watch any 00s post documentary and then put money into a project
I think it's just another form of currency. It doesn't add any value other than what value there already is that you put into it. Call it a 'model ecosystem' or 'stock market 2.0' if you fancy.
Not just usd, almost all other fiat, other commodities etc. Yes there needs to be a pouring, exchanging. That rule applies to literally anything, stocks, commodities, land...
It doesn't have to be completely getting rid of fiat. It's a mechanism to check central banks/authorities/banks to act carefully, knowing that people can go off-(((their)))grid anytime they want(from local/smaller perspective).
Then there's the bigger picture; ending usds' global dominance. Only reason most countries were bearing US's bullshit was because of that dominance, as most global trades done by usd. BTC takes away power from US, and most of the globe want to see that happen.
Ok, I see that there is a political angle to it, and that's cool. The issue is though that you have to put real/fiat money into it in the first place. So, it doesn't seem like it would change anything if it is still subject to the conventions of fiat money since it is ultimately based on it.
You are confused. It is compute mixed with currency and will take many forms.
I don't understand. Would you be willing to elaborate about these documentaries?
Hmm, I didn't think about it as having a mixed quality. That is interesting.
That depends on what angle you are looking for.
If I exchange my gold for usd. Am I getting usd or putting my gold in usd ?
Plus you don't have to put your hard earned "real cash" if you want. You can mine too. Of course you'll need to pay your utilities with usd but, you can always but your bitcoins to fiat pay your bills.
Yes that's true. But, I'm just saying the money that goes into btc invariably comes from real life, i.e. working and stuff. I mean if you aren't trading internationally then what's the point
If all your earnings are in bitcoin, govt. can't track it and tax it.
Ah cool. I see the advantage to that. I just don't understand the investing part. I understand the converting to btc part, but that doesn't change or alter the value, I don't think.
Metcalfe's law
Yes, but I don't see how there would be an increasing of value if all it is is just converting the currency into the same value equivalent but in BTC instead.
gold used to be a currency too, it's all arbitrary
Yes, I agree. It pretty much all is. But, my confusion is people investing into btc in order to make a profit. I am confused about that cause I don't see how something that merely converts your currency to a different format, so it doesn't change the value of it, will make you profit.
if you traded goods, lets say furs or wood or something for gold in ancient times before it became UBIQUITOUS as a currency than clearly that would represent an investment.
Hmm, yes I see your point. I guess I just have trouble seeing how btc will generate more value if it is just a form of currency and not a commodity. The difference is commodities are particular things, gold, fur, wood, that can be used for a specific purpose. Currency is something that can be used to buy commodities, do it has the potential to be any commodity, but it isn't in itself. So, I have a hard time seeing hoe exchanging currency to currency without it ever translating into an actual commodity will change the values of the things exchanged. It's not really an exchange, like you would buy something, but a conversion, like somebody translating something written from one language to another. It would still convey the same message but in a different language(assuming it was a faithful translation of course).