[tdeck]

We are coming to the end of the era where you could avoid major exposure to crypto speculation by simply not "investing" in it. When the government and major banks and top S&P500 companies are putting their money in crypto, just imagine the damage the next bubble pop will inevitably cause.

[xtracto]

I have a theory that the volatility we have seen in crypto historically is due to the influence that speculators have in the price of the asset given the % of speculator vs non-speculator money sunk into BTC

As more and more "non-speculator" money enters BTC, the swings in the price will decrease. I see the "rainbow chart" as a backing to this theory. It shows how the price has been slowly settling . In 25 years we should have a very stable deflating BTC price.

[horsawlarway]

But this is just more "speculator" money... if I'm being pessimistic, this is an outright scam play to make the early speculators filthy rich by defrauding the US public out of their tax dollars.

The whole freaking problem is that crypto turns out to suck absolute cock as a real method of paying for things (Said as someone who has actually paid for items with bitcoin, incl on the OG silk road...)

How many of these folks investing in bitcoin have EVER bought a physical item at a physical store with it? Hell, even online stores... how many of these people are actually using these things as currency, instead of as pure speculation plays?

The answer is a resounding "Almost no one".

They're a complete crap way to pay for anything that's not literally illegal to buy.

---

And there is no utility to the coins unless you're either buying things with them, or speculating that you can exchange them for more of a usable currency at a later time. Period.

[desumeku]

Expect to be using cryptocurrency a lot more than you're used to in the future. How does native integration with Windows and all major operating systems/phones sound?

[horsawlarway]

Like a scam. It sounds like a scam.

The issues with the currency are NOT just "can I actually pay you with it" (and that's STILL a big issue) it's all the surrounding work around conflict resolution.

I paid a contractor with bitcoin, he didn't do the work, he won't refund me. Now fucking what?

Court orders him to to give it back? How? They have no mechanism they can apply on the blockchain to actually enforce that order...

At least they can physically seize cash... they can't even do that here.

We're back to the days of "Buried treasure" like it's fucking pirates gold. I don't actually think the majority of users have any interest in that reality.

---

Based on your post history, I bet you think orange fuck boi's 1000 dollar bills are a great idea too. You probably have money in TRUMP coin... You seem like someone convinced they're brilliant but who will leak money like a sieve, and constantly be angry because you don't understand why.

[desumeku]

> They have no mechanism they can apply on the blockchain to actually enforce that order...

How about legal authority, or prison? Even with cash, you aren't getting paid back because the court can walk into his home and grab the money. He pays you back because he doesn't want to go to jail or be found guilty.

[xtracto]

>Based on your post history, I bet you think orange fuck boi's 1000 dollar bills are a great idea too. You probably have money in TRUMP coin... You seem like someone convinced they're brilliant but who will leak money like a sieve, and constantly be angry because you don't understand why.

Come on now... we can agree and disagree and bring our arguments forward. But this is unnecessary, it doesn't promote insightful conversation. Your other arguments were very good. Don't pollute them with this.

[r3ctilinear]

Exactly. People forget that btc is still in price discovery. A brand new global monetary standard isn't priced by edict, the market must figure it out. Of course it's volatile, if it were smooth/predictable then this predictability would be exploited by traders and it would cease being predictable.