Posted on 11/08/2021 1:56:39 PM PST by aMorePerfectUnion
The largest cryptocurrency in the world, Bitcoin, is currently the 6th largest asset in the world by market value! According to assetdash.com, BTC’s market cap has surpassed that of Facebook and Tesla. A tweet by @WatcherGuru confirms this.
At the time of writing, the top digital coin has a market cap of $1.234 trillion higher than Tesla’s $1.228 trillion. The Facebook company, which recently rebranded to Meta, has a market cap of $973.49 billion.
The top 5 assets globally are Amazon, Apple, Microsoft, Saudi Aramco, and Google’s parent company Alphabet. According to assetdash.com, the world’s top asset is Microsoft, whose market cap is $2.524 trillion.
—> Bitcoin or any cryptocurrency grift-token is not an asset
It is a digital asset… recognized worldwide, including by massive insurance companies, treasury holdings of publicly traded companies, investment firms, hedge funds, individuals, and on and on.
—> Without fiat... bitcoin and crypto has ZERO value.
If you mean people in every country price assets in units of their currency, yes.
—> Crypto has ZERO fundamentals,
I think you mean *you* recognize none of crypto’s fundamentals as valuable to you. OK.
—> tulip schemes
There you went off the rails, losing the argument as surely as if you called them Hitler. After that you began spitting on the screen and knocking things over as you waived your arms.
I’m going to put you down as a no for the crypto list…
We’re doing okay with it. WE bought Bit coin to be able to purchase meds from overseas that wouldn’t take debit cards, credit cards, etc. $200 worth, spent $133, and left the rest sitting there. I’ve forgotten what year we got in. Last time I checked, that $67 was worth over $4k.
$67 big deal. If it goes bust, that’s our loss, but if it keeps climbing, and I’ve seen predictions of over 100,000, we’ll bank it.
Yeah only I do understand it and it is a worse than a Ponzi scheme. If it makes you feel good then buy more.
Personally I’ve put nothing into crypto that I can’t easily afford to lose. That being said, I’ve put in about $500 as of 2 years ago, and now have about $1000. I’ve invested in another aspect of crypto, which is setting up servers verifying crypto transactions. Put about $750 into that, and have made about $600 in 5-1/2 months.
Basically, cry if you want to. Don’t invest if you don’t want to. Crypto is here to stay. Fools and their money will soon be parted, if a person thinks they will simply make money hand over fist without risk, they are fools.
I’ve got a 401k and a pension. Much more in those right now, but you never know and I will always have both of them as well.
Tulip Mania.
South Sea Bubble.
Bit coin...
It took me a long time to care enough to figure out bitcoin. Bitcoin is a stock which gets bought and sold in an unregulated market. Bitcoin produces no product or service. Its value depends purely on hype, and how well the hype stimulates buyers to buy it. In other words, it’s a pyramid scheme. We have laws against selling stock which matches pyramid criteria, but it seems the laws only apply in regulated markets.
If you have bitcoin, and you want to buy a T-shirt you’ll have a problem finding a T-shirt vendor who wants bitcoin. That said there are two aspects of bitcoin which would appeal to traders: 1) Bitcoin transactions don’t seem to be traceable or reportable. 2) For its value Bitcoin doesn’t depend on on a government which is printing and issuing more of it than the government owns.
—> Bitcoin produces no product or service.
Nor does gold produce a product or service. It is used to produce both a product and service. Bitcoin also.
—> Its value depends purely on hype
No, like all markets, it’s value is determined by the intersection of what buyers are willing to pay and sellers are willing to accept.
—> If you have bitcoin, and you want to buy a T-shirt you’ll
There are Bitcoin connected credit cards - you can even use PayPal to pay with Bitcoin.
—> Bitcoin transactions don’t seem to be traceable or reportable.
It is traceable. The ledger is publicly distributed to all. The IRS certainly tracks it.
—> For its value Bitcoin doesn’t depend on on a government which is printing and issuing more of it than the government owns.
Ding! Ding! Ding! We have a winner!
“ Crypto has become a joke and a 100% grift industry with almost 10,000 sham tokens created by scammers.”
Apparently it’s not too difficult to create a fake currency
Zero intrinsic value.
Pure speculation, backed by nothing.
Some people will get rich (those that sell), most will lose it all.
what matters is intensity, not logic, facts or reason
the thing that is most disappointing about these threads is that there is zero desire to honestly investigate the use cases for Ethereum, and even Bitcoin...the former is the leader, but the latter is actually catching up
these threads bring out characteristics which are more like liberals, rather than thoughtful conservatives interested in truth...alas
What has intrinsic value? Gold? Silver? Yup. The US dollar? Not even close.
“ What has intrinsic value? Gold? Silver? Yup. The US dollar? Not even close.”
———————————————————————————————-
In normal times gold and silver, but in fragile times not so much.
Ammo, freeze dried long term storage (25-30 years) food.
I can’t eat a gold coin, and it won’t work in my weapons either.
You are entirely correct.
Still, I like to see the responses to gauge where an largely ignorant public is at in their understanding of crypto.
And the deranged ones are entertaining 😎
Also, what you don’t see is the continued growth of the crypto list, which tells you that many continue to tune in.
Lead, gold, silver all have value.
Bitcoin Tops Record-Breaking $6.4 Billion in Institutional Money Inflows: CoinShares
With seven weeks left in the year, 2021 inflows for all digital assets have already topped 2020 by $2.2 billion.
(Source: CoinShares)
“There’s already been more institutional money invested in digital assets in 2021 than in all of 2020, according to a new report from CoinShares. “
There is intrinsic value in universal acceptance and desirability.
You can buy ANYTHING with US dollars. You can finance ANYTHING with US dollars. You can even pay your taxes with them.
Not so with digital. To buy MOST things with digital, you have to convert it to dollars.
You are missing the entire use case of Bitcoin.
You are not going to buy a cup of coffee with Bitcoin. No more than you would with an ounce of gold.
But for transferring value across distance, Bitcoin is vastly superior to dollars.
You should really understand what a currency is, versus “money.”
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