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Cryptocurrencies

superdave

Well-known member
Mar 14, 2020
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My crypto has doubled in value in the past 2 months. What do you have in your wallet?
 

zemaj

Active member
Mar 17, 2020
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Earth
Back when they were unregulated, and you could mine them, I actually had accrued quite some... kicking my own ass at having dumped them all, now, but I was more in it as a cool side-project anyway... also, that couple K is still netting me interest on the parts I did invest, so not a total loss.

Lesson learned: when Wall Street can find a way to make it into thier money, it's always going to go up.
 

Elly

Administrator
Staff member
Dec 27, 2019
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www.purediablo.com
I've been eyeing it up but I'm too pussy as I just feel I'll get stung so I keep hanging back.

I only spread bet anyway, I don't trade proper.
 

superdave

Well-known member
Mar 14, 2020
1,207
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After Tesla invested 1.5 billion in Bitcoin, Elon Musk is using his Twitter to pump the price.
 

Elly

Administrator
Staff member
Dec 27, 2019
96
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www.purediablo.com
I just went to check out how the cryptocurrencies are doing and they're actually blocked for retail traders now.

They're protecting us from ourselves. :sneaky:

The last reason is the best:

  • lack of legitimate investment need for retail consumers to invest in these products

 

Glurin

Active member
Jan 6, 2021
583
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Here
  • lack of legitimate investment need for retail consumers to invest in these products
Isn't it funny how when a bureaucrat dictates what people do or don't "need", it's always them and their friends who "need" it and the average Joe who doesn't?
 

superdave

Well-known member
Mar 14, 2020
1,207
312
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Etherium hit an all time high of just over $3500. Dogecoin was selling for $0.69

Prices keep rising.
 

superdave

Well-known member
Mar 14, 2020
1,207
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Elon Musk needs to STFU. What he is doing can only be described as market manipulation.
 

superdave

Well-known member
Mar 14, 2020
1,207
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Have I said before that Elon needs to be kicked in the ****? Why can't he just shut up? Every time he tweets, real people lose $.
 

krischan

Moderator
Moderator
Dec 24, 2019
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Real people don't lose money in that manner. The stock market value of bitcoins or stocks is not a guaranted amount of money that you will receive when selling them, but the amount of money that *others* have received when they sold them. Is what you *would* have received if you had found a buyer as well at that time. But you didn't. You don't have any money before you sell them. Stocks and bitcoins aren't money, they are an expectetion to get money for them, an amount that depends on how much others are willing to pay at the time you are offering them.

Cryptocurrencies are especially dubious. Where's the physical value behind it? There is none at all, not a single cent. There's a value assigned to it because others believe it has that value. It's like taking efforts to build a huge, sophisticated, but useless house of cards and then expecting from others that it has a certain value because it took such a huge effort to produce it. Not the house of card has a value, but the speculation potential of the certificates of ownership.

Likewise, how can a company like Tesla have a stock market value that's a couple times larger than e.g. GM, Ford or Volkswagen which sell a hundred times more cars? It's certainly not about the belief that Tesla will generate loads of profit in the future, but because of the belief that others regard it as having that value... which it actually doesn't have.

As a long-term investment, I would never buy Tesla stocks or bitcoins. Their value is too much dependent on the beliefs of others... and (stolen from George Carlin) think of how stupid the average person is and then realize that half of them are stupider than that.
 
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superdave

Well-known member
Mar 14, 2020
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Cryptocurrencies are especially dubious. Where's the physical value behind it? There is none at all, not a single cent. There's a value assigned to it because others believe it has that value.
The same can be said for the US Dollar or the Euro. We carry around bills in our wallet because they are easier to carry than loaves of bread.
 

Noodle

Moderator
Moderator
Dec 24, 2019
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Carlin didn't understand the difference between an average and a median. Do you?
 

krischan

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Dec 24, 2019
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Yes (and I had the same thought as you when I heard it first), but I didn't want to make it too nerdy. My guess about the distribution would be that's it's probably not skewed much (or maybe even close to a Gaussian one), so the average and the median would be close together then.
The same can be said for the US Dollar or the Euro. We carry around bills in our wallet because they are easier to carry than loaves of bread.
In principle, that's right, but money comes from a bank of issues. They have strategical goals, like providing good conditions for the country, rather than benefitting from speculations, so there's usually a certain amount of trust in them (like if the state cannot command them to print more of it for paying debts, for example) while you cannot trust people if they could do the same, so an artificial hurdle has to be set up to provide halfway stable conditions for bitcoins.

BTW, by how much did the US dollar fluctuate up and down recently? Certainly not even close to the extent of bitcoins.
 

superdave

Well-known member
Mar 14, 2020
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I'm having a hard time determining if I have a median or an average size penis. My adjusted TMI calculated using the Surgeon General's formula is 6.3".
 

superdave

Well-known member
Mar 14, 2020
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No, the US Dollar has not fluctuated as much as crypto but it does move enough against other currencies to make Billions each year for currency speculators. Those traders are no different than Bitcoin Traders.
 

krischan

Moderator
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Dec 24, 2019
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I don't think that currencies like the US dollar or the Euro have much speculation potential, but it is a certain market niche and somebody is going to fill it, of course, and there are certainly other currencies that are subject to a lot of fluctuation and manipulation.
 

krischan

Moderator
Moderator
Dec 24, 2019
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I'm having a hard time determining if I have a median or an average size penis. My adjusted TMI calculated using the Surgeon General's formula is 6.3".
I'm pretty sure that penis size isn't a Gaussian distribution. The porn industry is probably skewing the upper end a lot.