Quote:
Originally Posted by Barry-xlovecam
(Post 21872719)
It's like telling the Jehovah's Witnesses knocking on your door that there is no god.
You get the same blast of illogic but without the arrogant attitudes.
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To be fair, that's all sides of any argument... not matter what side anyone is on. That's simply how the brain works.
But anyway, let's look at the inverse for a moment as I'm beginning to.
Of course, Bitcoin et al are like buying unicorn tears in a bottle for [insert any reason here]. it's not a registered security. It's not a currency backed by world governments. It's not insured etc. Its value is determined 100% by demand and the simple belief that if you hold a 100.00 bill in your hand, the next guy will accept it as payment and accept its value as 100.00 and on and on (as with currencies that float on the open market) - not by a complex web of governments, trade, oil, financial markets etc.
The investment is not in which was a currency will go based on whatever economic factors are the primary movers of that currency (exports, political stability/instability, GDP etc).
The investment is simply in "are there enough delusional people online suffering from paranoid related disorders, schizophrenic disorders, anxiety disorders etc etc etc who will increasingly turn away from government and authority as they're driven to do and invest in a dream of a world without control and rules... who can continue to find each other online and pool the power of their collective insanity". This dream has existed since the dawn of man. It's never happened. It's never worked. But... it's a dream that's always alive in spite of that obvious fact... and usually driven by mental disorders (i.e. the constant internal chatter of anxiety, the legions of psychopaths who despise rules and views it as "control" (something you see a lot of here on this forum), the schizophrenic who thinks the government is reading his brain and broadcasting his thoughts etc).
Quote:
Originally Posted by Barry-xlovecam
(Post 21872719)
It's like telling the Jehovah's Witnesses knocking on your door that there is no god.
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again, let's examine that statement. Let's call "crypto currency",.... Scientology. The bet is not in whether it is real or not, whether Xenu exists or not. The bet is whether or not Scientology can continue to gain believers,.... which in turn drives the price. That's it.
I'm starting to see that demand is not going to go down.... between the casual and curious, the large, intelligent investors gambling against the insane or the insane betting against world governments and rules in general, there is going be growing demand.
Obviously, at some point, governments will have to intervene in a real way. Not being of the mentally ill who despise authority, i see betting against world governments ability to protect their currencies as a very poor bet.The risk, of course, is that value can plummet over night by simple market manipulation or bad news - even a rumor.... a government who sees it as a threat could buy up $75,000,000.00 across a lot of accounts and then announce it's not safe. It's not secure. They've cracked it. That they've arrested the 26 account owners of that $75,000,000.00 and charged them with major crimes or whatever. It's always possible and not being transparent as normal financial transactions, harder to verify the story - not that hard to come up with a scheme to destroy the value, if only temporarily. But even then, I suspect it would simply restart the cycle over, creating the same new opportunity and boom each time, encouraging more people to get in on the early.
