sringwal
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Mary Kay.Crypto people are generally not particularly intelligent, but their marketers are brilliant. It's quite possibly the most successful marketing campaign in history.
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Mary Kay.Crypto people are generally not particularly intelligent, but their marketers are brilliant. It's quite possibly the most successful marketing campaign in history.
The new talking points are that bitcoin is a store of value not a currency. I think crypto bros changed the narrative because you can't have a currency that by design only handles 7 transactions per second. There is an infrastructure above bitcoin that allows more transactions but IMO its existence and necessity kind of goes against the problems bitcoin was attempting to solve. If you're relying on third party networks on top of bitcoin, it seems to me you lose some of your decentralization benefits.I was talking to some fellow bankers, some who have platforms that allow clients to trade in crypto. I was asking the how much of the value of crypto was as an alternative currency versus a speculative investment. ow, I know several bookies down here who say about 80% of their volume has shifted to crypto...so I was expecting an answer of maybe 50/50. The bankers said they thought 90-95% of the money in crypto was as an investment (which I found appalling, they just kind of shrugged).
Fool………………………….. His moneyI was talking to some fellow bankers, some who have platforms that allow clients to trade in crypto. I was asking the how much of the value of crypto was as an alternative currency versus a speculative investment. ow, I know several bookies down here who say about 80% of their volume has shifted to crypto...so I was expecting an answer of maybe 50/50. The bankers said they thought 90-95% of the money in crypto was as an investment (which I found appalling, they just kind of shrugged).
The value of many things are based on public perception of its value. The more people who feel that something is valuable, the more valuable it is. That goes for fiat currencies as well as cryptocurrencies. (I am not saying these two are equivalent as the former has the support of governments which ideally protect their values.)Melania coin is down more than 90% from its initial bump. Again, somebody explain to me how that is really different from bit coin except people see Bitcoin as a tulip
My dad had boxes and boxes of '80s baseball cards. We didn't know what to do with them so my brother took them to get evaluated. He was told to use them as firewood and that anything '80s or after is pretty much worthless.Lost most of my shit when Voyager went belly up. Got a little of it back after litigation. Also got in on BTC when it was at 50k then it dropped and I panic sold at 30k (ish) like a dumbass. You buy when it's low and sell when it's high. I did the opposite. Let my shitty moves serve as a cautionary tale. Now I just trade in baseball cards and beanie babies. I've got a 89 Donruss Gregg Jefferies card that I'm waiting to sell when it moons then I'm moving to St. James to retire.
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I worked with a guy in the early 2000's whose son was in tech out in CA. He came to me one day and said his son told him to invest as much as possible in this company because they have a product that is going to change everything. He showed me a video of the IPhone. I said, what's the big deal it's just a phone. Plus I like my Blackberry (Doh!). That same guy a few years later came to me and said his son told him to invest in this new type of currency called Bitcoin. I said it looks like a scam. I no longer work with this guy, but if I ever hear any recommendation from his son in the future I'm going all in.Lost most of my shit when Voyager went belly up. Got a little of it back after litigation. Also got in on BTC when it was at 50k then it dropped and I panic sold at 30k (ish) like a dumbass. You buy when it's low and sell when it's high. I did the opposite. Let my shitty moves serve as a cautionary tale. Now I just trade in baseball cards and beanie babies. I've got a 89 Donruss Gregg Jefferies card that I'm waiting to sell when it moons then I'm moving to St. James to retire.
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I probably have somewhere between 10k to 15k baseball cards. Most from the 70's and 80's and yes most are worthless. Got a handful of good ones though. I'm just holding to pass down to my kids. Maybe they'll come back into favor one day. I actually have boxes of cards still in the wax packs unopened. Might be fun to open those up but the gum is probably pretty awful.My dad had boxes and boxes of '80s baseball cards. We didn't know what to do with them so my brother took them to get evaluated. He was told to use them as firewood and that anything '80s or after is pretty much worthless.
But being a store of value is just one of the three things that makes something a currency, right? I think early on Bitcoin was thought to be a legitimate medium of exchange (one of the other 2), but as you said, it doesn't scale.The new talking points are that bitcoin is a store of value not a currency. I think crypto bros changed the narrative because you can't have a currency that by design only handles 7 transactions per second. There is an infrastructure above bitcoin that allows more transactions but IMO its existence and necessity kind of goes against the problems bitcoin was attempting to solve. If you're relying on third party networks on top of bitcoin, it seems to me you lose some of your decentralization benefits.