Non Footy Chat Thread II

[TheCrowe]

And because the asset is backed by no underlying business fundamentals, the price is entirely driven by FOMO. Dickheads crow about how much money they made and then tell desperate losers they need to buy. Buy from whom? Someone who needs you to buy so they can convert their bullshit electronic money for real, stable money backed by a government.

I'm not telling anyone to buy and my crypto can be converted to dollars in a few seconds. Sold 2 small lots today for $US. If you don't like it, don't buy it. Simple
Now tell me about how gold is backed by a solid underlying business plan. Its really just a pretty rock.

 

[Poupou Escobar]

I'm not telling anyone to buy and my crypto can be converted to dollars in a few seconds. Sold 2 small lots today for $US. If you don't like it, don't buy it. Simple
Now tell me about how gold is backed by a solid underlying business plan. Its really just a pretty rock.

I also think gold and silver are shit investments.

 

[Avenger]

It’s not the buying and selling that matters, it’s the factors that determine price and value. Crypto has no inherent value. These days it merely exists to be traded.

It doesn’t matter if it doesn’t have Intrinsic value or inherent worth, like physical assets or income-producing properties.


It does have subjective value and is determined by collective trust and societal agreement. Bitcoin derives its value from its utility, scarcity, and the belief in its decentralised system.


Fiat currency is no longer backed by anything, which is a major factor driving rampant inflation worldwide. Bitcoin’s halving mechanism is anti inflationary and ensures that financial powerhouses like the US system can’t destabilise the global economy unchecked. This is also why figures like Trump and his allies have suddenly become crypto advocates. Even they recognise that the current system is unsustainable.

 

[TheCrowe]

I also think gold and silver are shit investments.

Gold is ok as a hedge in inflationary conditions but I wouldn't either. Crypto is high risk but just like any other market, its worth what someone will pay you for it. There have been many bubbles throughout modern history and most coins are just that but to gain high rewards you generally have to accept high risk. If you cant accept risk it is not the asset for you.

 

[Avenger]

Gold is ok as a hedge in inflationary conditions but I wouldn't either. Crypto is high risk but just like any other market, its worth what someone will pay you for it. There have been many bubbles throughout modern history and most coins are just that but to gain high rewards you generally have to accept high risk. If you cant accept risk it is not the asset for you.

This is the same genius who told me investing in the Sydney property market was a bad idea back in the early 2010s. I didn’t listen, while he’s stuck paying high rents.

 

[the phantom menace]

We don’t need traditional media any more. Big Tech decided the last three US elections ffs

I thought someone said that in another thread that "you were having a little break from here"?

Guess at your rate a 24hr gap without posting is a break of sorts... Welcome back merkin.