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nooneman


Registered: 04/24/09
Posts: 14,555
Loc: Utah
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Northerner]
#27774946 - 05/13/22 01:38 AM (1 year, 8 months ago) |
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Quote:
Northerner said: There is no utilitarian use
Oh but sir, I kindly beg to differ! Why, without crypto, how else would we buy LSD?

But yeah, you're right, it's only really good for buying drugs. But that's an important purpose! Still, it's lack of real use is why I didn't invest when it was at $30, that seemed like an enormous price relative to the dollar to me at the time, and I couldn't figure out why it could possibly be worth that much.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: koods]
#27774948 - 05/13/22 01:39 AM (1 year, 8 months ago) |
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Quote:
koods said: The dollar is trading at a 20 year high
If it is then it is a shame I am seemingly able to buy less and less with a dollar.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: nooneman]
#27774949 - 05/13/22 01:40 AM (1 year, 8 months ago) |
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Quote:
nooneman said:
Quote:
Northerner said: There is no utilitarian use
Oh but sir, I kindly beg to differ! Why, without crypto, how else would we buy LSD?

But yeah, you're right, it's only really good for buying drugs. But that's an important purpose! Still, it's lack of real use is why I didn't invest when it was at $30, that seemed like an enormous price relative to the dollar to me at the time, and I couldn't figure out why it could possibly be worth that much.
Russia and other countries, terrorists etc use it to skirt the US global controls. This creates core unstoppable value to it as moneys value comes from consensus.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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nooneman


Registered: 04/24/09
Posts: 14,555
Loc: Utah
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
#27774952 - 05/13/22 01:42 AM (1 year, 8 months ago) |
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That's a good point. Things are worth whatever people will pay for them. As long as the value is perceived to be a certain thing, it is that thing. Like you say, value comes from consensus.
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koods
Ribbit



Registered: 05/26/11
Posts: 106,045
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
#27774955 - 05/13/22 01:45 AM (1 year, 8 months ago) |
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Those are the ones that are almost certainly fraud. Where is the income coming from to pay those dividends. How do coin operators earn 20%, for example? Loans that earn that much are probably high risk. When the market hits a rough patch and the borrowers default, the coin goes bankrupt. In reality, those coins are almost all Ponzi schemes where income is paid to coin holders though the sale of more coins
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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koods
Ribbit



Registered: 05/26/11
Posts: 106,045
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
#27774958 - 05/13/22 01:49 AM (1 year, 8 months ago) |
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Quote:
budmanman said:
Quote:
koods said: The dollar is trading at a 20 year high
If it is then it is a shame I am seemingly able to buy less and less with a dollar.
That’s always the case. Currency should always lose some value over time compared to the goods you buy with it.
The reason the dollar is so strong is other currencies are losing value faster than the dollar.
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: koods]
#27774960 - 05/13/22 01:51 AM (1 year, 8 months ago) |
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Quote:
koods said: Those are the ones that are almost certainly fraud. Where is the income coming from to pay those dividends. How do coin operators earn 20%, for example? Loans that earn that much are probably high risk. When the market hits a rough patch and the borrowers default, the coin goes bankrupt. In reality, those coins are almost all Ponzi schemes where income is paid to coin holders though the sale of more coins
The loans are used for leverage traders to take high risk very profitable short positions on DEFI
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
#27774963 - 05/13/22 01:56 AM (1 year, 8 months ago) |
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And then there is also yield farming,
Supporting the network with various forms of stakes
Shit there are over 10 ways to generate revenue just off the top of my head.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
#27774964 - 05/13/22 01:57 AM (1 year, 8 months ago) |
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Also banks make 14%-25% on average in general on their general capital, they pay normally around 1%, they're fucking you, because they can get away with it cause there is no real competition till now.
Companies like Celsius pay back to the customer about 80%.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
Edited by budmanman (05/13/22 02:01 AM)
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koods
Ribbit



Registered: 05/26/11
Posts: 106,045
Loc: Maryland/DC Burbs
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
#27774967 - 05/13/22 01:59 AM (1 year, 8 months ago) |
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Quote:
budmanman said: And then there is also yield farming,
Supporting the network with various forms of stakes
Shit there are over 10 ways to generate revenue just off the top of my head.
They’re all frauds dude
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: koods]
#27774968 - 05/13/22 02:02 AM (1 year, 8 months ago) |
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It would seem you don't know what fraud even means.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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koods
Ribbit



Registered: 05/26/11
Posts: 106,045
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
#27774969 - 05/13/22 02:04 AM (1 year, 8 months ago) |
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All those schemes will crash and burn. Don’t you have any common sense?
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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Northerner
splelling chceker


Registered: 07/29/12
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
#27774970 - 05/13/22 02:04 AM (1 year, 8 months ago) |
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That's all just leveraging fiat as a bank/investment pool for further speculation.
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The nearest we ever come to knowing truth is when we are witness to paradox.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Northerner]
#27774971 - 05/13/22 02:06 AM (1 year, 8 months ago) |
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All cryptocurrencies combined accounted for about 7% of the world's money.
https://www.investopedia.com/tech/how-much-worlds-money-bitcoin/#:~:text=All cryptocurrencies combined accounted for about 7% of the world's money.
It doesn't matter what anyone thinks, this system has been growing and growing and growing and slowly becoming the new economy.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
Edited by budmanman (05/13/22 02:06 AM)
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koods
Ribbit



Registered: 05/26/11
Posts: 106,045
Loc: Maryland/DC Burbs
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Northerner]
#27774972 - 05/13/22 02:07 AM (1 year, 8 months ago) |
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Yeah in the end it’s only worth what you can get back in real money
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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koods
Ribbit



Registered: 05/26/11
Posts: 106,045
Loc: Maryland/DC Burbs
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
#27774974 - 05/13/22 02:07 AM (1 year, 8 months ago) |
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Quote:
budmanman said: All cryptocurrencies combined accounted for about 7% of the world's money.
https://www.investopedia.com/tech/how-much-worlds-money-bitcoin/#:~:text=All cryptocurrencies combined accounted for about 7% of the world's money.
It doesn't matter what anyone thinks, this system has been growing and growing and growing and slowly becoming the new economy.
And to believe that it is sustainable is magical thinking
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
#27774977 - 05/13/22 02:10 AM (1 year, 8 months ago) |
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-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: koods]
#27774979 - 05/13/22 02:11 AM (1 year, 8 months ago) |
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Quote:
koods said:
Quote:
budmanman said: All cryptocurrencies combined accounted for about 7% of the world's money.
https://www.investopedia.com/tech/how-much-worlds-money-bitcoin/#:~:text=All cryptocurrencies combined accounted for about 7% of the world's money.
It doesn't matter what anyone thinks, this system has been growing and growing and growing and slowly becoming the new economy.
And to believe that it is sustainable is magical thinking
Bwahahahhaaha and having a 30 Trillion dollar national debt compounding its interest is sustainable? If the US government killed every last American and took 100% of their money, They would still owe money bawhahhahahahaha
https://www.usdebtclock.org/
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
Edited by budmanman (05/13/22 02:11 AM)
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budmanman
OTD Masterbater



Registered: 02/07/07
Posts: 17,974
Loc: PNW
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
#27774981 - 05/13/22 02:15 AM (1 year, 8 months ago) |
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Fiat Currency is a broken system with a 100% failure rate, the USD has been one of the if not the longest running fiat currency and quite frankly its on its last legs because it is literally built in its math, to fail.
https://www.lietaer.com/2021/11/do-all-fiat-currencies-fail/
Do All Fiat Currencies Fail?
Since the beginning of time, fiat currency has dominated the world, but every fiat currency that has existed in history has failed. fiat currency study, 775 fiat currencies have an average life expectancy of 27 years, with some taking a month to crash and others surviving for centuries.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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koods
Ribbit



Registered: 05/26/11
Posts: 106,045
Loc: Maryland/DC Burbs
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
#27774984 - 05/13/22 02:17 AM (1 year, 8 months ago) |
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Lol and if you lived with Bitcoin as your currency you’d be suffering with a 100% inflation rate right now.
Fortunately for Justin Bieber his house is denominated in dollars, not bitcoins.
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NotSheekle said “if I believed she was 16 I would become unattracted to her”
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