Bitcoin News Thread

[BobUpnDown]

Not Bitcoin but crypto.. & they've been had..

Hawk Tuah girl: Online star faces crypto coin criticism

Haliey Welch's "Hawk" digital coin shot up in price then lost 95% of its value just hours after it launched.

www.bbc.co.uk

 

[SmallTown]

Erm... there aren't any insults.

The utility, which you claim to understand but then try to ridicule as being irrelevant just because it is El Salvador shows your unwillingness to accept your ignorance. El Salvador recognise it as a currency therefore it is a currency, that point was raised just to show you that it is no longer debatable. It shows that it has utility even if it doesn't have utility to you, like any other currency recognised by any other county anywhere in the world. Bitcoin is a decentralised cross-border currency. El Salvador have adopted it and any other country could as well but the beauty of a currency that is cross-border and not controlled by a country is that it doesn't have to be recognised as legal tender. Anyone in any country can use it as a payment mechanism. There are many countries where people pay in USD despite it not being legal tender in that country and Bitcoin is, and can be, the same.

There is no confusion on my part. "To make money" is a utility. It is the reason most things exist. Even so, making money is not the utility of bitcoin. Businesses make, produce, sell, provide services etc to make money. Stop pretending you are not part of the capitalist system. 1 share of Tesla or Apple do not do anything but make someone money. All the utility of the company comes from the workers, the materials and the processes. All the shares do is generate profit for shareholders. Nobody invests in them for any other reason.

Bitcoin just exists. It doesn't have a motive. It is just maths. It doesn't aim to make money. All you are seeing happening is the value of bitcoin goes up in relation to USD because more people are recognising the utility and there is a finite amount. The value of USD has fallen in relation to everything so it's no surprise that it has fallen against bitcoin as well. At some point it will reach an equilibrium where the supply and demand for bitcoin is stable and then it will steadily increase in value at the rate of inflation or in reality it will maintain it's value as other currencies devalue.

Until you can have a conversation in good faith and/or comprehend what bitcoin is, because you've so far proven yourself either incapable or unwilling to do so, then it is pointless you making the same non-statements.

I do want to have a conversation in good faith. I'm sorry that you can't accept that just because it's a currency in a tiny country it has intrinsic value. You're not getting excited about trading sierra leonian Leones. So I respect what I've said twice now: outside of El Salvador it has no intrinsic value. You even admit this yourself with your phrase "bitcoin jist exists' so I guess we can settle it there.

 

[Nano]

I do want to have a conversation in good faith. I'm sorry that you can't accept that just because it's a currency in a tiny country it has intrinsic value. You're not getting excited about trading sierra leonian Leones. So I respect what I've said twice now: outside of El Salvador it has no intrinsic value. You even admit this yourself with your phrase "bitcoin jist exists' so I guess we can settle it there.

I've never once claimed it had intrinsic value. I said it repeatedly it doesn't have to have intrinsic value to have value. So well done you've won an argument only you were having...

I'm not trying to convince you, or anyone, to invest in bitcoin. The same way I'm sure you aren't trying to make everyone own an EV. I am simply trying to refute and correct the nonsense and ignorant opinions of people that dismiss something without understanding it.

Understanding it and choosing not to invest is a perfectly reasonable to position to hold. I don't invest in gold because I choose not to, not because I don't understand it.

 

[northernrower]

I do want to have a conversation in good faith. I'm sorry that you can't accept that just because it's a currency in a tiny country it has intrinsic value. You're not getting excited about trading sierra leonian Leones. So I respect what I've said twice now: outside of El Salvador it has no intrinsic value. You even admit this yourself with your phrase "bitcoin jist exists' so I guess we can settle it there.

You need to accept that you're wrong.

You can spend it in a number of places to buy things. Actual things. It started off small, but the number places you can spend it is growing. Rome wasn't built in a day. You don't want to be a part of it, and that fine, but you're going to get left behind.

https://help.coinbase.com/en/coinbase/getting-started/crypto-education/where-can-i-spend-bitcoin

 

[SmallTown]

You need to accept that you're wrong.

You can spend it in a number of places to buy things. Actual things. It started off small, but the number places you can spend it is growing. Rome wasn't built in a day. You don't want to be a part of it, and that fine, but you're going to get left behind.

https://help.coinbase.com/en/coinbase/getting-started/crypto-education/where-can-i-spend-bitcoin

I don't, for the reasons I have explained. That may change. But it's currently wildly unregulated and for that alone it's unsuitable to be a major currency

 

[SmallTown]

I've never once claimed it had intrinsic value. I said it repeatedly it doesn't have to have intrinsic value to have value. So well done you've won an argument only you were having...

I'm not trying to convince you, or anyone, to invest in bitcoin. The same way I'm sure you aren't trying to make everyone own an EV. I am simply trying to refute and correct the nonsense and ignorant opinions of people that dismiss something without understanding it.

Understanding it and choosing not to invest is a perfectly reasonable to position to hold. I don't invest in gold because I choose not to, not because I don't understand it.

Ah good. So you've answered my question. I wondered if it has intrinsic value. I assumed not and you confirmed it. For all the insults and all your ire you answered my question and proved my thoughts were correct. The only opinion I offered, was that it had no intrinsic value. And you have confirmed it. Glad we got there.

 

[Nano]

Ah good. So you've answered my question. I wondered if it has intrinsic value. I assumed not and you confirmed it. For all the insults and all your ire you answered my question and proved my thoughts were correct. The only opinion I offered, was that it had no intrinsic value. And you have confirmed it. Glad we got there.

Congratulations for winning a straw man argument with yourself. An unbelievable achievement. You must be proud.

Of course if you go back and look at your questions you asked if it had any intrinsic value or any utility. Nobody claimed it had intrinsic value but it does have utility but now that you have moved the goalposts I'm not sure you care. This will be another classic SmallTown topic that ends up with you being proven wrong and out of your depth, claiming you have won (and that you've been insulted) and then skulking away.

Just admit you don't understand something and stop making yourself look silly. No shame in not knowing something.

 

[SmallTown]

Congratulations for winning a straw man argument with yourself. An unbelievable achievement. You must be proud.

Ah the lowest form of wit.

Sorry it upsets you but I tried to remind out if it had intrinsic value. And three of you get all mad at me before admitting it didn't. So let's stop talking here, we've reached a concord of some description if if you continue to want to discuss

 

[northernrower]

I don't, for the reasons I have explained. That may change. But it's currently wildly unregulated and for that alone it's unsuitable to be a major currency

If you could go back in time 10 years and buy some Bitcoin, knowing the price it has now reached, would you?

 

[Nano]

I’m not going to watch propaganda videos @VladKinder .

Can you please précis to explain to me the intrinsic value of bitcoin. What am I missing? I can’t see it having any utility

I'm not bitter. Please don't project. I just have a feeling that it's basically a money making scheme and has no actual utility and purpose. Perhaps you can explain what it's purpose is?

Again, I see it as different: Bullion has an intrinsic value. Golds value is to do with it's scarcity but it's also the one of the best reflectors of heat we know of (for one thing) so has a utility. Can you not see what I'm getting at. Other things people invest in have value and purpose other than of themselves. Bitcoin has no utility as such

Ah the lowest form of wit.

Sorry it upsets you but I tried to remind out if it had intrinsic value. And three of you get all mad at me before admitting it didn't. So let's stop talking here, we've reached a concord of some description if if you continue to want to discuss

3 messages on the last two pages of you claiming it has no utility. You get given examples of utility. You pretend you don't care about utility.

It doesn't upset me at all. I'm just embarrassed for you. You've clearly been shown up and then tried to claim some sort of nonexistent win. It's actually hilarious (and completely unsurprising).

 

[SilentProf]

Not Bitcoin but crypto.. & they've been had..

Hawk Tuah girl: Online star faces crypto coin criticism

Haliey Welch's "Hawk" digital coin shot up in price then lost 95% of its value just hours after it launched.

www.bbc.co.uk

I saw an ad for this and assumed it was one of those scams that use random famous people with fake quotes about making millions. I’d guess someone talked her into being the face of the scheme and she knew very little about how it worked.

 

[SmallTown]

3 messages on the last two pages of you claiming it has no utility. You get given examples of utility. You pretend you don't care about utility.

I you've doubled back have you? Great. Wed finished and you'd proven me to be correct but you still want to argue for some reason. Not sure how you proving my assumption correct is me being "shown up" but I guess that's the social media world for you. You have to "win" something

I love the internet's me. That's the last thing I'll say on the issue because you're just arguing for the sake of it now. I said it had no intrinsic value. You agreed. Enjoy the last word

 

[SmallTown]

If you could go back in time 10 years and buy some Bitcoin, knowing the price it has now reached, would you?

Thats utterly irrelevant to my point. I get it. You like the fact you can scam money from it without contributing to society. That's fine. But that's twice you've replied with utterly the wrong take. Don't think I'm like you. My thought, confirmed by @Nano , is that it has no utility at all. You seem confused because your replies are unconnected to what I'm saying

 

[northernrower]

Thats utterly irrelevant to my point. I get it. You like the fact you can scam money from it without contributing to society. That's fine. But that's twice you've replied with utterly the wrong take. Don't think I'm like you

Without contributing to society?

Expect the capital gains tax when I take profits you mean? You know, the stuff that'll help contribute to keep schools, hospitals, policing, armed forces all running?

You also keep ignoring the fact that it is a currency and it can be used to purchase products. Everyday products. That in itself is contributing to society.

 

[SmallTown]

Without contributing to society?

Expect the capital gains tax when I take profits you mean? You know, the stuff that'll help keep schools, hospitals, policing, armed forces all running?

You also keep ignoring the fact that it is a currency and it can be used to purchase products. Everyday products. That in itself is contributing to society.

Sigh this is hard work: IT doesn't contribute to society. It's just a tool for people to make money that takes energy away from us and adds nothing back.

And it can be used to purchase everyday product IN EL SALVADOR.

 

[swordtrombonefish]

Like most people who have been in Crypto for a number of years I view anything like this Hawk Tuah coin with absolute scepticism and wouldn't touch it with yours...I avoid memecoins or sh*tcoins as we used to call them and only go with coins/companies that have utility.

The ISO coins do have utility XRP/XLM/XDC/ALGO/HBAR are my bet and I'm getting brilliant returns at the moment, have taken a good percentage of profits recently which is now banked...and yes I will pay tax on it. I am keeping skin in the game as I think these have real potential after the predicted dip mid-December when I've scheduled to sell at my price points and if there is a big correction I'll have more to buy back in for the predicted second cycle.

This company is established all over the world and I think is going far with XRP and their stable coin RLUSD will be a major player...

 

[northernrower]

Sigh this is hard work: IT doesn't contribute to society. It's just a tool for people to make money that takes energy away from us and adds nothing back.

And it can be used to purchase everyday product IN EL SALVADOR.

No. Here in the UK.

Do some research. You're looking daft.

 

[Nano]

Thats utterly irrelevant to my point. I get it. You like the fact you can scam money from it without contributing to society. That's fine. But that's twice you've replied with utterly the wrong take. Don't think I'm like you. My thought, confirmed by @Nano , is that it has no utility at all. You seem confused because your replies are unconnected to what I'm saying

I you've doubled back have you? Great. Wed finished and you'd proven me to be correct but you still want to argue for some reason. Not sure how you proving my assumption correct is me being "shown up" but I guess that's the social media world for you. You have to "win" something

I love the internet's me. That's the last thing I'll say on the issue because you're just arguing for the sake of it now. I said it had no intrinsic value. You agreed. Enjoy the last word

Hahahaha.

Can't believe you have the bare faced cheek to actually claim you have "won". Yes, you said it had no intrinsic value and nobody disputed that. I'm not sure you understand the concept of intrinsic value. It's a piece of software and nobody that understood what intrinsic value meant would even make the point. What you actually said, and are still arguing is that it has no utility and now you are claiming it as a scam. You really are hilarious

Keep moving the goal posts. You'll score a goal eventually.

Hahahaha SmallClown

 

[swordtrombonefish]

A decent take...

 

[swordtrombonefish]

Last from me on the subject - if you want to know what Ripple are up to and how their CEO sees FIAT currencies and Crypto in the future, he Brad Garlinghouse is on 60 Minutes Sunday, Dec. 8

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