Official Bitcoin & Cryptocurrency Discussion Thread

[Sugar Adam Ali]

LOL if you think this is a ponzi scheme. Weren't you one of those guys asking basic questions about BTC/crypto 3 months ago? That said Bitconnect is a legit ponzi & if anyone was in on that you need to be smarter in your investments in the future cuz there ARE legit scams still in this unregulated market.

This crypto thing goes up & down. Just like stocks just like anything else of value. Value does not go straight up all day every day. If you sold in the last day or two you are the scared money or dumb money.

If you hodl the last couple days today has been a shopping day for buying coins at a discount. Ultimately this is the future of money. Anyone who's in this game now will benefit long term & this is a long term game not a game you can look at any one day or week & think thats meaningful to what this will look like in 5-10 years.

yes its a ponzi scheme..

The value only rises as more and more people keep buying and moving up the price.

Just like a ponzi scheme needs more and more new investors to pay off the old ones, Crypto needs more and more new buyers to buy to keep the price rising.

If a ponzi or a crypto runs out of new buyers or enough of them to keep raising the price, everything tumbles in a brutal fashion


The only thing of value in the crypto world is the block chain technology which is not what you own when buying crypto.


its like 3d printing creates objects.

Blockchain creates cryptos.

the objects from the printer and the cryptos are worthless, its the technology behind it thats valuable.

The crypto crowd is basically buying 3d printed objects with the hope that it rises even though the objects produce nothing and have no intrinsic value, instead of buying the companies developing the tech.


and Blockchain isn't a propriety assest


why would companies use these when they can just build there own like kodak has recently done?



Right now crypto is preying on fools and expanding into emerging markets so continue the artificial rise in a worthless product

[.!WAR MIKEY!.]

[Eff Pandas]

yes its a ponzi scheme..

The value only rises as more and more people keep buying and moving up the price.

Just like a ponzi scheme needs more and more new investors to pay off the old ones, Crypto needs more and more new buyers to buy to keep the price rising.

If a ponzi or a crypto runs out of new buyers or enough of them to keep raising the price, everything tumbles in a brutal fashion


The only thing of value in the crypto world is the block chain technology which is not what you own when buying crypto.


its like 3d printing creates objects.

Blockchain creates cryptos.

the objects from the printer and the cryptos are worthless, its the technology behind it thats valuable.

The crypto crowd is basically buying 3d printed objects with the hope that it rises even though the objects produce nothing and have no intrinsic value, instead of buying the companies developing the tech.


and Blockchain isn't a propriety assest


why would companies use these when they can just build there own like kodak has recently done?



Right now crypto is preying on fools and expanding into emerging markets so continue the artificial rise in a worthless product

You were and still keep trying to understand crypto like one would understand some random company selling shoes or a phone. This is cryptocurrency not cryptostuff.

Randomly I'll bet anyone here all there epoints or all of mine if you outrank me that BTC sees $20k per coin before it sees $5k per coin.

I'll also bet anyone here the total maketcap will reach 1 trillion sometime in 2018.

[Pretty Boy32]

Happens every January.... rookies

[.!WAR MIKEY!.]

Happens every January.... rookies

happens usually during chinesse new years.

[Sugar Adam Ali]

You were and still keep trying to understand crypto like one would understand some random company selling shoes or a phone. This is cryptocurrency not cryptostuff.

Randomly I'll bet anyone here all there epoints or all of mine if you outrank me that BTC sees $20k per coin before it sees $5k per coin.

I'll also bet anyone here the total maketcap will reach 1 trillion sometime in 2018.

So explain why you think the price will continue to rise?

What happens when people stop buying bitcoin and jump into the other alt coins which are nothing more than penny stocks?

If people stop buying apple stock, and the price goes to zero, i would buy it all, as apple produces cash and gobs of it.

If people stop buying crypto and the price goes to zero, would you buy it all, what does it produce? how does it grow.




I will take your bet.. Hits 5k before it hits 20k

[Eff Pandas]

I will take your bet.. Hits 5k before it hits 20k

Booked. I think you got me covered on points so if I lose you got all my points & if I win you double me up. 12.1 sextillion on the line.

[Sugar Adam Ali]

Booked. I think you got me covered on points so if I lose you got all my points & if I win you double me up. 12.1 sextillion on the line.

Deal

But you didn’t answer my question about what drives the price up?

If it’s not a Ponzi scheme, not dependent on more people buying it, how does it raise in value?

[Eff Pandas]

So explain why you think the price will continue to rise?

What happens when people stop buying bitcoin and jump into the other alt coins which are nothing more than penny stocks?

If people stop buying apple stock, and the price goes to zero, i would buy it all, as apple produces cash and gobs of it.

If people stop buying crypto and the price goes to zero, would you buy it all, what does it produce? how does it grow.

The price will rise because its a superior form of currency that can't be controlled by any government. Unlike fiat money there is less ability to "pull money out of thin air" so unlike the USD where they are lowering the bottom of what you can buy year after year in crypto we are still trying to find the ceiling of how much a Bitcoin or various altcoins are worth.

And lol at you still talking about the stock market. If you wanna compare crypto to anything it'd be more accurate to compare it to forex trading for future reference.

[Sugar Adam Ali]

The price will rise because its a superior form of currency that can't be controlled by any government. Unlike fiat money there is less ability to "pull money out of thin air" so unlike the USD where they are lowering the bottom of what you can buy year after year in crypto we are still trying to find the ceiling of how much a Bitcoin or various altcoins are worth.

And lol at you still talking about the stock market. If you wanna compare crypto to anything it'd be more accurate to compare it to forex trading for future reference.

Lmao..

“Unlike fiat money”


Do you understand what fiat means..


Explain how crypto isn’t fiat money, what is it backed by?


I will tell you what crypto is worth- whatever any idiot is willing to spend on it,