@WCC said:
Yes, because we are in mania, not due to any other reason. Only in mania would hardy anyone believe what you just wrote.
It's nothing. It's only worth anything due to the mania we've been in for years. At the peak within the last year, all crypto was valued at roughly $4T which is more than the stock markets of France, the UK, and Germany. This is absolutely insane, completely delusional, for something which effectively has almost no utility and no intrinsic value whatsoever.
Crypto right now is in a Bear market as most of the lower tier coins have crashed, never to return. That is where the mania was. However, in the top 6 coins it is not mania (5 if you throw out Bitcoin). There is billions of dollars in transactions done ever day through the crypto rails and it is only beginning. One of the crypto blockchains is very profitable already, and buys back its own tokens.
Just remember what you claimed five years from now. You could have become wealthy by learning more about it.
I'm not a speculator like many others, that's why I do not buy what others do. This isn't investing.
As for mania, if you do not recognize that BTC and the other "coins" you're implying are in a mania, you don't know what a mania is. I just told you that crypto collectively was worth more than the stock markets of the UK, France, or Germany at the peak, and BTC alone was worth only somewhat less than Germany's. This is a complete absurdity. A 50% loss for BTC from the peak doesn't change this assessment.
There are no "fundamentals" supporting these prices. It's a complete bag of hot air. The billions of dollars of transactions you write of are literally almost entirely for speculation, not for any actual economic reason. These "coins" aren't real currencies and have virtually no actual economic purpose either. Whatever economic utility these "coins" actually have is completely disproportionate to the market price.
Crypto is nothing more than a pyramid scheme also known as a Ponzi scheme. Those who got in early and got out near the peak made a lot of money. Everyone else lost money. It's definitely not a good long-term investment and will be nothing more than a foot note in future economics textbook.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@PerryHall said:
Crypto is nothing more than a pyramid scheme also known as a Ponzi scheme. Those who got in early and got out near the peak made a lot of money. Everyone else lost money. It's definitely not a good long-term investment and will be nothing more than a foot note in future economics textbook.
Looks to me like $120 gutter was the ponzi scheme. Well that, beanie babies, and pokemon cards. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Comments
I'm not a speculator like many others, that's why I do not buy what others do. This isn't investing.
As for mania, if you do not recognize that BTC and the other "coins" you're implying are in a mania, you don't know what a mania is. I just told you that crypto collectively was worth more than the stock markets of the UK, France, or Germany at the peak, and BTC alone was worth only somewhat less than Germany's. This is a complete absurdity. A 50% loss for BTC from the peak doesn't change this assessment.
There are no "fundamentals" supporting these prices. It's a complete bag of hot air. The billions of dollars of transactions you write of are literally almost entirely for speculation, not for any actual economic reason. These "coins" aren't real currencies and have virtually no actual economic purpose either. Whatever economic utility these "coins" actually have is completely disproportionate to the market price.
Crypto is nothing more than a pyramid scheme also known as a Ponzi scheme. Those who got in early and got out near the peak made a lot of money. Everyone else lost money. It's definitely not a good long-term investment and will be nothing more than a foot note in future economics textbook.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Looks to me like $120 gutter was the ponzi scheme. Well that, beanie babies, and pokemon cards.
RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?