[geezerjay]

> It is my opinion that the intrinsic value of bitcoin is far far greater than anyone really comprehends

See? It's all speculative bullshit, where people who took a bet on bitcoin increasing price and expect to profit from this price increase are trolling other fools to keep pumping the bubble until they cash out.

Bitcoin is quite clearly a pump-and-dump scheme, and here we see some users cheering fools to keep on pumping the bubble with their cash.

The only intrinsic value that bitcoin has is it's use in money laundering deals, and only in short time scales. That's it. The rest is just speculative fraud.

[josh2600]

I wrote this a few days ago to talk about the mania (Disclosure: I operate Crypto Lotus, a crypto hedge fund):

PSA: I generally can't give you advice about specific crypto investments as much as I want to for multiple reasons related to my job.

This is my one statement on the market: It is loud.

Crypto is moving very quickly and I regard it as the riskiest asset class that is available today. To invest in crypto is to accept that currency can be narrative driven and that juxtaposition requires accepting that currency can be simultaneously worth any amount and no amount. The things that favor crypto as an asset class are that there is lots of positive news, a reasonable long-term narrative, and some of the largest assets are deflationary in design. The things that are unfavorable to crypto are that the pricing is uncorrelated to observable reality, the regulatory risk, and the cryptographic risk.

Overall, it is a bizarre, whimsical space to be in right now, but it is also terrifying. Don't tread lightly, and please don't invest more than you can afford to lose.

Thar be Dragons.

______

For clarity, the reasonable long-term narrative is that bitcoin is easier to work with than existing banking infrastructure for some transactions. In particular, if you are a high net-worth individual negotiating with a nation state or a person of low means who conducts low-trust transactions, bitcoin serves you better than most other means of payment. For the vast majority of people who don't fit in those two categories, bitcoin isn't really useful.

[lunchables]

This would certainly be the world's longest running pump and dump scheme. It could certainly be a bubble but I don't think it fits the definition of pump and dump.

[Frogolocalypse]

I don't think you read past the first sentence.

[Twisell]

And this was the intended effect of your post you wrote a long monologue instead of a clear answer. Thus proving his point, there is no clear answer.

Any truth-holder (on both side) is a blatant liar.

[Frogolocalypse]

I don't think you even understood the first sentence, or any other.

[corndoge]

And rightly so, since the rest of it was a bizarre analogy comparing envelopes to cryptographic hashes that ultimately served no discernible purpose

[Frogolocalypse]

Don't buy it then. Problem solved.