This topic contains 23 replies, has 16 voices, and was last updated by 
IGMOW (I Go My Own Way) 1 year, 11 months ago.
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Question 1: Would you accept someone sending you a piece of paper with random scribbles on it that mean nothing to you? I don’t mean as something polite that you throw out, but something you would hold onto.
Question 2: If someone set you up with a wallet and access to receive 1 Bitcoin, and they gave it to you freely, would you take it? This is no catch here, just that you received it. Any issues regarding taxation would be taken care of, and you would just have it, to hold onto, or do whatever you want with it. Would you take it?If Bitcoin is useless, why would most people answer yes to second question? And why would you if you would?
"I am my own thang. Any questions?" - Davis S Pumpkins.
Dude, let. it. go. Most people on here don’t give a rat’s ass about bitcoin. If you like bitcoin, then go bother with it yourself and leave everyone else alone.
Anonymous3My point of view is, that all sort of money is worthless. It is a piece of paper or exists in a computer. Backed by nothing.
Look up some basic econony stuff. Banks create money by typing the momey and the debt into the computer when someone takes up a loan. Countries print the money on paper, or also type it into the computer. Money doesn’t even really exist, it is a fiction accepted on society level. Bitcoin and other crypto currencies are also just source code typed into computer. Turning electricity into heat in the most complicated way.
And to add, there may be almost infinite amount of gold or other materials and minerals in the universe, infinite amount of energy if fusion is finally invented (no need for petrol), and also diamonds and sapphire can be grown artificially.
Stocks and investments are also questionable, at least a company doing good stuff is behind it, giving it some worth, but it has very fluctuating value and can get out of business or crash any time. And dividends are (if any) paid in money, that is worth nothing in itself.
Really, the “worth” of anything, that is questionable, once you cannot satisfy your own needs (or-get your life rid of bad stuff-even more important) directly with it.
I only accept money as salary, because they accept it (in the shops, etc), where I can buy things for it, that are really “worth”, or in other words useful for me. Like: food, shelter, transportation, communication, hobby stuff, tools to fix stuff, coffee, booze, and so on, anything that is actually useful has worth.
So, in my philosophy, spending the money correctly is as important as making the money that you will spend. Lot of good decision to buy quality products, to only buy what you really need, to not lose the things you have (not damage / have stolen or broken), to be able to repair them, and so on. Let’s face it, we do not earn money just to see a big number on bank account, nor we plan to put the cash into the pillow in our coffin when we die.
Money (any type, paper or crypto or even gold) is nothing more than a tool of trade, and no warranty, that next year it will buy you the same amount of stuff. If you sit on some money a few years, it will be worth a lot more computing power, or previous generation of top-quality well-done devices for half the price at second hand market, and maybe 10 percents less of food or energy for the same money. Spending the money well is the step, when worthless is converted to something worthy. And for sure as Mgtow, I don’t need to spend any money on useless pink stuff, so that I can spend it on powertools or bike parts.
It was worth more when it was cheap and worthless, buy low sell big mentality.
The true test will be if it holds value against the global $$ market for the next 5-10 years, otherwise it is just a stock that can be gambled on like the rest of them.
My 2c
"Society is to blame" Denton
Anonymous3Any kind of money stuff in life is just like a very complex mathematics homework, on which your well-being depends. Jut a bunch of numbers. Cold logic, crunch numbers, feel nothing about it.
This is a place to discuss money, so I did. I figured I would bring this up, because of where things are. I did another post on the paradox of money. I hold that any single item used as THE benchmark for wealth, is going to have issues, and lead to bad distortions. This is due to what I have need for, and produce, has different value to me, than someone else. Bitcoin, as anything that involves money, is only worth what people want to pay for it. And they will pay for it what others agree to.
I used Bitcoin as one example here. I could of gone with other Cryptocurrency also.
Deeper than this, I also suggest people look to more than just price, in determining the value of something. One has to see how it is used (its utility) also. Without knowing this, a bubble can form, and everything falls apart.
In regards to the post below, why bother replying, if it doesn’t matter to you at all? Just leave it alone. Cryptocurrency is the current growth area in the economy and is fundamentally shifting everything. I hold that Cryptocurrency provides a way to organically grow the money supply in a sustainable manner, if the currency maps to actual utility, and debt doesn’t enter the equation. In addition, this approach provides a way to have economic growth without inflation, if not deflation. Individual pockets of currency increase in value, in relation to the rest of the economy. And that is my response to the comment below…
Dude, let. it. go. Most people on here don’t give a rat’s ass about bitcoin. If you like bitcoin, then go bother with it yourself and leave everyone else alone.
"I am my own thang. Any questions?" - Davis S Pumpkins.
Bitcoin is just gambling, for as long as it makes some “profit@ to the people controlling it, it will go up, but remember “House always win”
To those following me, be careful, I just farted. Men those beans are killers.
If Bitcoin is useless, why would most people answer yes to second question? And why would you if you would?
Because now people already establish value to bitcoin.
The human mind would make assumptions and assign additional values to stuff. For example, your piece of paper might be a couple hundred years old, but you thought it wasn’t important and leave it out. Someone might notice that and will assign a value to it.
For bitcoin, some people see potential and some doesn’t
If Bitcoin is useless, why would most people answer yes to second question? And why would you if you would?
Because now people already establish value to bitcoin.
The human mind would make assumptions and assign additional values to stuff. For example, your piece of paper might be a couple hundred years old, but you thought it wasn’t important and leave it out. Someone might notice that and will assign a value to it.
For bitcoin, some people see potential and some doesn’t
And this mechanism is why Bubbles happen also. People benchmark to what everyone else is thinking, so when it grows, people follow along. The pricing mechanism breaks at that point, when everyone is the seller of the same thing (that which is in a bubble).
More philosophical here: How many people end up pursuing what other people value, to get more, rather than what they themselves value?
I believe economics does need to look at utility more. But that is me.
"I am my own thang. Any questions?" - Davis S Pumpkins.
Crypto currencies will be created by all nations as the smart grid gets rolled out.
http://www.leavemeansleave.eu
If Bitcoin is useless, why would most people answer yes to second question? And why would you if you would?
Because now people already establish value to bitcoin.
The human mind would make assumptions and assign additional values to stuff. For example, your piece of paper might be a couple hundred years old, but you thought it wasn’t important and leave it out. Someone might notice that and will assign a value to it.
For bitcoin, some people see potential and some doesn’t
And this mechanism is why Bubbles happen also. People benchmark to what everyone else is thinking, so when it grows, people follow along. The pricing mechanism breaks at that point, when everyone is the seller of the same thing (that which is in a bubble).
More philosophical here: How many people end up pursuing what other people value, to get more, rather than what they themselves value?
I believe economics does need to look at utility more. But that is me.
All markets from currencies to commodoties are artificially manipulated through collusion of mass selling or mass buying it is not just natural market forces.
Crypto is no different
http://www.leavemeansleave.eu
a non tech look gov prints money gov manipulates currency and gov constricts the flow as well so sooner or later it will be banned making it worthless see no numbers or calculation to think there would be no reaction is absurd what I am looking at it the way they will do it I assume no action at this time is to do with that it will burn itself out so they don’t look the bad guy
If Bitcoin is useless, why would most people answer yes to second question? And why would you if you would?
Because I could instantly sell it to a sap for US$.
I would accept ANY item that I could sell over an item which I cannot.
It doesn’t mean I would ever want to OWN the item.
"I've been thinking about what it would be like if we got back together."
"You know it's too late for that."
Anonymous1Because I could instantly sell it to a sap for US$.
I would accept ANY item that I could sell over an item which I cannot.
It doesn’t mean I would ever want to OWN the item.
Yes, you can instantly sell it because the demand is very high for Bitcoins. The supply is restricted and finite, unlike Fiat Currency. The demand for Crypto is increasing all over the world for a variety of reasons, therefore the price will too.
The demand for the Petro based USD is decreasing and the supply can be infinitely expanded, making USD worth less over time.
I’d take Crypto over Fiat any day as a store of value.
Yes, you can instantly sell it because the demand is very high for Bitcoins.
Currently, but I don’t believe that will always be the case. Hence why I would instantly sell them.
I’d take Crypto over Fiat any day as a store of value.
That is your opinion and right to do so. I wouldn’t recommend it based on the sheer volatility and the fact that it has NO inherent value. Even fiat currencies have inherent value because it is how one must pay taxes. If every Bitcoin was erased from every computer tomorrow, nothing would change beyond an increase in suicides, I would presume. If every US Dollar were confiscated and removed from accounts tomorrow, the world would revolt into anarchy. Now tell me which has more value.
"I've been thinking about what it would be like if we got back together."
"You know it's too late for that."I had a crypto marriage once. Sold at a deep loss. Ever since then anything that has the word “crypto” in front of it triggers me.
How can a woman be expected to be happy with a man who insists on treating her as if she were a perfectly normal human being.
It isn’t worthless just not worth what it currently is.
A MGTOW is a man who is not a woman's bitch!
In answer to your question, sure, I would happily take that free Bitcoin. Then immediately sell it for the papers with the scribbles.
Why? Because I believe Bitcoin is way overvalued in relation to cash (i.e. in a bubble), it is not widespread adopted like cash, it is inherently worthless (so is cash), it is too volatile, it is not as convenient as cash, it is too easily replaced by whatever digital currency people want to chase next, if the fad doesn’t die out first.
I acknowledge there could be some advantages to Bitcoin. For example, ability to make purchases/settle transactions in another country without having to pay currency exchange fees, in an underground economy. But, this will only last for as long as people ascribe value to Bitcoin.
If a guy has confidence in Bitcoin, that’s his business. Personally, it’s not for me. I would only caution him not to put all of his savings into Bitcoin, or go into debt to acquire it. Be diversified.
I'm going my own way. Maybe I'll see you there.
Ofcourse Id take the free Bitcoin.
I like the way Charles Hoskinson puts it (helped create Etherium, CEO of Cardano).
Paraphrasing him, he said that Bitcoin was an experiment (6-7 years ago+) and the idea was to create something coded, that had scarcity, that could be traded like a currency. They accomplished it but they didn’t know if it would fly with the people. It did.
It continued to persevere and overcome naysayers, however it was not good enough. Businesses and entities wanted to do more with Bitcoin than it was designed to do. It wasn’t scalable (meaning it couldn’t be widely adopted without using a ton of power and slowing down…) and it also could not provide ledger like qualities. It was just very plain jane, no smart contracts etc…
Then they invented Etherium, the blockchain tech that performs more functions. This is also being improved upon.
Now, several years later. Many protocols and blockchains are being invented. Basically, they are creating new interents!
Cardano, which Hoskinson is majorly involved in, is a 3rd generation crypto currency with multiple layers. Cardano (named after a mathematician) is like the Audi of crypto. It’s a currency, its a blockchain, it’s scalable, it was designed to do everything that cryptos before it do, all in one, and better.
This is why I’m investing in Cardano. Crypto in general is going to continue to be more widespread. Its still very early.
Most people don’t understand the technological implications and why crypto is not just virtual money to be linked to a debit card….no, they are re-inventing the internet to be decentralized, cryptographic and just better. We’re witnessing the start of something monolithic again, like cell-phones.
By the way, Bitcoin is over $10,000 again. Etherium will soon be over $1000 again. I tried telling people that all this sell-off crap happens all the time. They try to kill it but it comes back like a weed.
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