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Crypt0curr3nci3s

Re: Cryptocurrencies

A Fed policymaker had a frank opinion about cryptocurrencies the other day: "Fed's Neel Kashkari says cryptocurrencies are 95% fraud, hype, and noise - and scoffs at being able to create his own 'neelcoin.'" He went on to say, cryptocurrencies are "garbage coins." The story was carried by the fake news site msn.com:

https://www.msn.com/en-us/money/mar...ng-able-to-create-his-own-neelcoin/ar-AANsiMB
 
Re: Cryptocurrencies

I sold most of what I had for a little while. Most of the stock as well. I keep hearing people say the 9/23 - after the beginning of October was going to be bad, with possible stock market corrections of 15-20%. They are just predictions but I did not want to ignore them.

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One stock I don't want to sell is Upstart. It keeps going up. I know I should sell, but esh!


There are so many opinions, I don't know if any of them are right. But time will tell. The guy that predicted the peak earlier this year (Dave The Wave) estimates that the low will be $37.5k.
 
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Re: Cryptocurrencies

zedto9t9 said:
A Fed policymaker had a frank opinion about cryptocurrencies the other day: "Fed's Neel Kashkari says cryptocurrencies are 95% fraud, hype, and noise - and scoffs at being able to create his own 'neelcoin.'" He went on to say, cryptocurrencies are "garbage coins." The story was carried by the fake news site msn.com:

https://www.msn.com/en-us/money/mar...ng-able-to-create-his-own-neelcoin/ar-AANsiMB
Click to expand...

Again, cryptos are just old finance business as usual, and the only element that appears as new is the same that has changed everything in the past hundred years, from politics, to business, music, , travelling, fashion (CH complaining about influencers, like old couture had done about CH)..: the masses playing in the field once reserved to some happy few, mass-producing and mass-consuming what was once reserved to a restricted field of people.

- - - Updated - - -

It's not a new game, it's the old game reaching its bursting point.
 
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Re: Cryptocurrencies

No but Gold Bars I bought 5 years ago are worth 1&3 more tyhen when I bought them small bars but gold!
 
Re: Cryptocurrencies

Alistair said:
I’m not laughing at you, but I have to laugh at the term asset value when it comes to crypto currency. What asset? :rotflmao:
Click to expand...

It's non-productive asset. Gold, for example, is a non-productive asset. It inherently doesn't worth anything and doesn't produce anything. People place value on them because they are a "limited resource". Cryptocurrency has been described by many investors, including myself, as a limited resource of nothing. It doesn't even exist in real life.

I'm just curious when people will finally wake up and stop "investing" in these ridiculous non-productive assets.

So, a few months ago, I was standing around while my guys were working on a house I had recently bought. Next door neighbor walked over and we greeted each other. Out of nowhere, he was telling to invest in dogecoin if I wanna be rich. He was bragging to me how he "invested" in dogecoin and now his "investment" has increased by 20% in value. I told him no thank you.

It's the hallmark of a pyramid scheme. In order for the value of the thing to increase, you have to get more people to buy into it.
 
Re: Cryptocurrencies

^ Gold exists and has intrinsic value. Crypto doesn't even physically exist.
 
Re: Cryptocurrencies

cityboy-stl said:
^ Gold exists and has intrinsic value. Crypto doesn't even physically exist.
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Yes, gold exists. But it is nontheless a non-productive asset. It doesn't produce anything. People artificially give it value by using it to make rings and stuff. But at the end of the day, it doesn't produce anything of value other than people want it.

One of the tests to see if something has intrinsic value or not is we look at disasters. When New Orleans got hit my the bitch Katrina, there were cases of people using gold to try to trade for supplies and they couldn't even do that. During that time, gold literally became worthless.
 
Re: Cryptocurrencies

Alistair said:
I’m not laughing at you, but I have to laugh at the term asset value when it comes to crypto currency. What asset? :rotflmao:
Click to expand...
If you are dying from laughter now, it would make one wonder how could you make it through the last forty years of 'financial innovation'.
 
Re: Cryptocurrencies

Dominus said:
Yes, gold exists. But it is nontheless a non-productive asset. It doesn't produce anything. People artificially give it value by using it to make rings and stuff. But at the end of the day, it doesn't produce anything of value other than people want it.

One of the tests to see if something has intrinsic value or not is we look at disasters. When New Orleans got hit my the bitch Katrina, there were cases of people using gold to try to trade for supplies and they couldn't even do that. During that time, gold literally became worthless.
Click to expand...

Is that why there is nearly 5,000 tons of gold in Fort Knox?
 
Re: Cryptocurrencies

cityboy-stl said:
Is that why there is nearly 5,000 tons of gold in Fort Knox?
Click to expand...

No, it's because there is a financial system that has not yet pushed Nixon's movement to its last consequences :lol:
 
Re: Cryptocurrencies

cityboy-stl said:
Is that why there is nearly 5,000 tons of gold in Fort Knox?
Click to expand...

What part of non-productive asset don't you understand? If you think it is a productive asset, what does it produce?
 
Re: Cryptocurrencies

Dominus said:
What part of non-productive asset don't you understand? If you think it is a productive asset, what does it produce?
Click to expand...

I didn't say that. YOU said that and I agreed with you. I said gold has intrinsic value, the value is inherent in its physical existence, even if it is a non productive asset. Which is why gold reserves are valuable. As compared to Crypto which DOES NOT PYSICALLY EXIST and therefore cannot have literal physical instrinsic value. What part of intrinsic value don't you understand?
 
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