Anthracite wrote: » If you chose to answer a simple question, no assumptions would be needed. Look, you seem like a nice fella and I wish you well. I'm just falling back into old habits, having spent years on boards and elsewhere trying to warn people about the property bubble. I hate to see it happening again.
lifeandtimes wrote: » I've seen your comments all over this forum johnny, you have some hatred for crypto. I'm sure a lot people felt the same when the stock market first took off. I wish everyone well in this market and always trust your gut, trade what you can afford to lose and get out when you can
JohnnyFlash wrote: » Just spelling out that the inherent value of all these coins is 0.
Dr Bolouswki wrote: » The use of the word "all" here seems a bit hyperbolic. It depends how the generation, utility of and fundamental use of the coin is intended. None of the serious projects are intended to replace Fiat. Arguing that they will never replace Fiat completely misses the point of many of them and illustrates a limited understanding of what they do. I agree its been a bubble, I agree many of the coins are ill-conceived, some of them are scams etc. - you are right on all those counts. But don't undermine the good points you make by dismissing the entire notion as ill-conceived.
JohnnyFlash wrote: » So say some group create a coin intended to be used for enabling smart contracts between landlords and tenants -cutting out the estate agent. Grand. Can’t see an immediate use for such tech, but the idea is sound. How does you holding a number of their coins allow you to contribute to the business model? Why are those coins worth what they are worth, and how will you derive a profit from them? These coins can be created by downloading code and setting a variable. They can create an infinite amount and variation of coins. There’s no inherent value in any of them. The only value at the moment is that you hope us=ome other bucko is prepared to pay more money for you for this coin that was created out of thin air. And no , that’s no way comparable to fiat currency.
dubrov wrote: » Flat currency is exactly the same. Its only value is that which other people believe it has. Plenty of flat currencies have collapsed even when backed by major powers at the time.
dubrov wrote: » The Euro is not backed by any of those things. It is backed by the people and if people stopped accepting it for exchange of goods/services, it would instantly worth zero whatever the central bank says. The central banks can create currency at the stroke of a key. The money in your bank account is no more real than a ripple code.
JohnnyFlash wrote: » Got me 20 benson and 8 cans of Guinness in tesco 15 minutes ago. Get back to me when I can do that with a coin that any punter can magic of thin air. The only thing backing the value of coins at the moment is the assumption someone will pay more than you for it.
lifeandtimes wrote: » If all your going to do is post complete negative stuff about crypto what are you doing here? Youre not doing a public service. Also yes anyone can make a coin, no one will just buy any coin, too many available coins of a specific coin will devalue the coin itself this making is pointless to make an unlimited number, however people pay fiat in exchange for coins, plenty of places are accepting these coins for goods and services, thus giving them real world value so you argument is null. The second people accept this coins for good and services is the second they become of value without the need of a middle man and that was satoshis dream come true
JohnnyFlash wrote: » I’m fascinated with the whole thing to be honest. Even the language used is interesting, hodl, lambo, moon
JohnnyFlash wrote: » maybe for payments between consumers and farmers without the supermarket. Copy an auld whitepaper, stick up a few photos of the ‘team’, pretend I’m partnering with farmers unions and supermarket chains, create an ico, generate a bit of hype on Twitter, pretend to have a summit, issue a vague roadmap, get punters to give me ether for the coins I magiced out of my hole, then convert that to euros fairly rapid.
Shauny2010 wrote: » To quote Jack Ma ( Yes he's Chinese and one of the smartest people on the planet, started Alibaba, Aliexpress, Alipay etc) If you don't know or understand something is not shameful but where you don't know and yet pretend to know is very shameful https://www.youtube.com/watch?v=bsQSWqCbqhY
Shauny2010 wrote: » To quote Jack Ma ( Yes he's Chinese and one of the smartest people on the planet, started Alibaba, Aliexpress, Alipay etc) If you don't know or understand something is not shameful but where you don't know and yet pretend to know is very shameful
JohnnyFlash wrote: If I had any knowledge of computers and programming then i’d be creating a coin - maybe for payments between consumers and farmers without the supermarket. Copy an auld whitepaper, stick up a few photos of the ‘team’, pretend I’m partnering with farmers unions and supermarket chains, create an ico, generate a bit of hype on Twitter ...
JohnnyFlash wrote: » Don’t see how some chancer creating an ICO and hyping a coin before dumping it all for cash tied in with his vision though.
JohnnyFlash wrote: » Another video there to chew over horse...
dubrov wrote: » How is cutting out supermarkets in any way relevant? We are talking currencies here, not new business models. There is nothing stopping you creating a new currency. Good luck with getting anyone to believe it has ant value though.
makeorbrake wrote: » Yes, anyone can create a virtual currency now. Get used to it. You seem obsessed with this fact. So what? Some coins will have intrinsic value and characteristics which mean that people believe in them. Others will have nothing....like the one you're going on about. Are many of the crypto's created a waste of space? - sure. Again, so what. Do you want to castigate those who have bought them? Again, no problem - I do to....but you are including the good with the bad in that. There are serious projects with very talented people behind them in some cases. They all have to be evaluated. You dismiss them all without any consideration - that's not intelligent. You were told - how many times now? - ANY currency is only of value if the public sentiment and belief is there behind it. You countered with 'what currency can buy this?' which body stepped the point. A USD or a Euro can only buy something because people believe that this piece of paper has some value. Other than that, it's just a piece of paper. You said that the euro was backed by this and that. That's the whole point here. Look up the meaning of FIAT - how FIAT currency came to be known as FIAT currency. Here's a hint - it's since the gold standard was dropped. When the gold standard existed, a currency may have been backed by something. Right now, FIAT is not. I don't have to eat horse...at least not since I cashed out my cryptocurrency with a 4000% gain....ribeye steak for me every night but thanks anyways...:D
ZeroThreat wrote: » hope you put a fair amount in to maximise that 40 times return
makeorbrake wrote: » I'm not complaining. I write this from the tropics, can hear the waves of the Ocean crash against the shore - it's financing a year away from the day job. Had I been in a position to cash out a few weeks earlier, we would have been talking about an 80 fold gain ...in which case I didn't plan on going back to the day job. As it stands, looks like I'm going back...but I'm not exactly feeling sorry for myself :-)
Shauny2010 wrote: No we are talking about the understanding of crypto currencies. Most people here can spot the difference between a ponzi shill coin and something with real value and effort. I say most people because their is always a few who get carried by hype, shilling, BS etc and fail to do the least amount of research on what they are getting. This is not a new phenomena, look back in history you will see scams, from the TV game shows of the 1950s that were rigged and the contestants were given the answers. Hence the Wallstreet term "Gaming the Market" The Newspapers if the late 1920s and 30s printing fake Business reports etc Your argument is an old one I'm afraid
Autochange wrote: » Your Ip address puts you in a caravan outside Gort
The One Doctor wrote: » just get a single email with my Bitcoin balance every day.
Dr Bolouswki wrote: » Ethereum is a platform....recognise that it's possible to be broke without even knowing it.
