The hilarity that is the Crypto.com payout

[kenetics]

The whole crypto thing is quite a mystery to me. I mean what makes something valuable? In the case of bit coin, there's a finite amount, and you have to "mine" it by solving complex math equations that take a large amount of computing power. But, what can you do with it? Very few places actually accept it. It's just a weird deal

You can transfer millions with little transaction fee. Instantly too. No need of a bank (middle man.) The network is what makes Bitcoin important. The network itself has never been hack since it's inception even though thousands have tried. It's the most secure network .

 

[Shishio]

imo bitcoin started this whole not real money bullshit....I hate all of this, the only thing i really know about crypto and nfts is that i dont know enough, because this is carny scam shit

 

[FIghtxIQ]

"Over the years" being less than 20. The NYSE has been around for 230 years. The Dow Jones ha been around for 137 years. The S&P has been around for 65 years. Bitcoin is still in unknown territory and nothing says it can't just vanish. Government can and are putting regulations on it. They won't let you pay your taxes in it but will certainly tax your gains from it. And if it were independent from things then why isn't it at a stable amount? And who can even decide that amount? Why don't we just decide it's worth $5000 or $50,000 and leave it at that? It will always fluctuate and be based on real money until real money is gone. You cannot stop comparing it to the dollar because the dollar is the real world currency. If a company wants to sell a product for BTC they must compare it to their operating costs in the real world dollar. If inflation rises and their materials cost more they are going to have to sell it for more BTC. Therefore if the USD inflates, BTC inflates because they aren't going to charge .0005 BTC forever when .0005 BTC equals $20 one day and $9 the next.

None of that matters because it's part of a global market. Value fluctuates sure, just like everything else. Billions get erased from Tesla, Amazon, Apple, etc every few months. BTC and crypto has value, it always goes down and reaches new all-time highs. If you haven't figured that out by now, you don't know how to read the charts. Even at it's low point right now that's still high value. What stocks do you know with the value of around $20,000 per share?

Yes stocks is more regulated and protected but there is insider trading with stocks just like crypto. You can do both, you don't have to pick one or the other. You can play the long game on both and want safer investments stick to stocks like S&Ps and stocks with dividend pay outs. Crypto isn't going anywhere so it's smart to invest in that as well, especially every time it does a major crash. It always recovers.

 

[davidlemonparty]

What stocks do you know with the value of around $20,000 per share?

This correlation is nonsensical. You need to compare units/shares on issue as well as overall market capitalisation for this to make any sense. 1 Bitcoin is not even the base unit of measure, the base unit is the Satoshi which is 100million to a Bitcoin.

Also Berkshire Hathaway class A shares are worth like 250k each. Shares frequently get divided into Smaller units when the price per gets unwieldy for routine trading.

Many hundreds of companies would have share prices in the 10s of thousands if they weren't routinely divided.

 

[IDGETKTFO]

Well, i don't follow crypto or bitcoin exchange rates but i can say that the only time i had to buy bitcoin was when my iptv service was only accepting bitcoin. I can tell you they are no longer accepting bitcoin and have switched back

imo bitcoin started this whole not real money bullshit....I hate all of this, the only thing i really know about crypto and nfts is that i dont know enough, because this is carny scam shit

I regret not buying bitcoin when it was 1:1 dollar to bitcoin. Im going back at least 20+ years. If i had money back then to buy, i would be rich now. Hindsight is 20/20 but oh well. I didnt buy then, and now way in hell wou;d i buy now.

 

[FIghtxIQ]

This correlation is nonsensical. You need to compare units/shares on issue as well as overall market capitalisation for this to make any sense. 1 Bitcoin is not even the base unit of measure, the base unit is the Satoshi which is 100million to a Bitcoin.

Also Berkshire Hathaway class A shares are worth like 250k each. Shares frequently get divided into Smaller units when the price per gets unwieldy for routine trading.

Many hundreds of companies would have share prices in the 10s of thousands if they weren't routinely divided.

You can't compare either way because they are different. Berkshire Hathaway is for their portfolio, so it isn't just one share, you are investing in their picks and what they are holding.
The point I'm making is you are not going to find anything in stocks that you will find in crypto. They are different and they are supposed to be different. Most people follow both, they aren't just picking stocks and ignoring crypto. Most hedge funds are heavily trying to get into and learn about crypto because of the demand from their clients.

 

[justalurker]

It just dipped under 19k. Crypto has always been a ponzi scheme. That doesnt mean you cant make money with it. It's a gamble. Hence why the price fluctuates so rapidly. It could bounce back in a month, or be worth 8k. Who knows.

Or just come back to its original value of 1000btc = 1 pizza.
As South Park said about Scientology: it's a scam on a global scale!

 

[justalurker]

And guess what you have to pay Crypto.com in order to buy crypto? MONEY! Lol.

But, as far as the standard savings account and mattress technique go, nah. Put it in an S&P index fund, contribute at a regular interval, and watch it grow. I don't know your age, but if you're not close to retirement this is the best tried and true method and practically a bare minimum people should be doing. Things like individual stocks and crypto are for money AFTER getting the basics down. Nobody should ever be day/swing/crypto trading with money they plan on retiring with alone.

Idiots won't understand.
"I wanna get rich quick!".
I gave up on trying to convince 20sth year olds that the best way to get rich is to fimd a niche and eat with a small spoon. A sucker is born every minute, there'll be a new pyramid fad 8-10 years from now.

 

[Shishio]

Well, i don't follow crypto or bitcoin exchange rates but i can say that the only time i had to buy bitcoin was when my iptv service was only accepting bitcoin. I can tell you they are no longer accepting bitcoin and have switched back

I regret not buying bitcoin when it was 1:1 dollar to bitcoin. Im going back at least 20+ years. If i had money back then to buy, i would be rich now. Hindsight is 20/20 but oh well. I didnt buy then, and now way in hell wou;d i buy now.

no not putting your money into bullshit is always a smart move lol.

 

[thorcorm]

It just dipped under 19k. Crypto has always been a ponzi scheme. That doesnt mean you cant make money with it. It's a gamble. Hence why the price fluctuates so rapidly. It could bounce back in a month, or be worth 8k. Who knows.

I mean - there are interviews of David Letterman making fun of people pushing the boundaries with the early internet at the time still on youtube. Literally mocking a guy for saying you can listen to an audio stream of the football/basketball game online. Dave looked at him and said "kinda like the radio, huh" dismissively. Audience laughs...

Cryptocurrency is hardly a ponzi scheme... I had similar thoughts early on. It is a network asset. The more people that agree it is going to be used as a form of something - it gains value. The fact it is now an official currency in a country... It means the value is there. Adoption and number of wallets holding bitcoin and ethereum keeps growing.

 

[kenetics]

imo bitcoin started this whole not real money bullshit....I hate all of this, the only thing i really know about crypto and nfts is that i dont know enough, because this is carny scam shit

No currency has made throughout human history besides gold.

 

[Shishio]

No currency has made throughout human history besides gold.

silver has but i get your point

 

[kenetics]

silver has but i get your point

But even those will get replaced by digital currency.

 

[Shishio]

But even those will get replaced by digital currency.

see i dont think so at a certain point something physical needs to exist, im probably wrong lol and thats my point about why i dont trust digital currency

 

[kenetics]

see i dont think so at a certain point something physical needs to exist, im probably wrong lol and thats my point about why i dont trust digital currency

No. Everything moves from anolog to digital. Happen with movie tapes to DVD to streaming. Same with bartering items to gold to cash to debit/credit (digital)

The problem is that their isn't a Blockchain recording the transaction of the government spending . We actually never know where the money is going. With Bitcoin every transaction that's done on the net work where everyone can see transfer of all bitcoins.

I don't think Bitcoin will be the future currency, it will be another digital currency but Bitcoin will be a store value like gold but even better because it's digital.

 

[Keeperofthegate]

All of the least educated and/or least intelligent friends of mine have been posting relentlessly about crypto over the last year and how it’s just essentially free cash. They’re the same people who are loading up on NFTs. It’s an unspoken source of hilarity to me now that it’s all coming crashing down now. I really hope that whatever poor soda received those bonuses had the foresight to dump it as soon as they received it.

 

[tucan89]

Not only does Sherdog have doctors, lawyers and engineers, but now it has financial experts in the field of cryptocurrencies too which is exactly what was needed.

Don’t forget scientists & infectious disease experts also!

 

[Shishio]

No. Everything moves from anolog to digital. Happen with movie tapes to DVD to streaming. Same with bartering items to gold to cash to debit/credit (digital)

The problem is that their isn't a Blockchain recording the transaction of the government spending . We actually never know where the money is going. With Bitcoin every transaction that's done on the net work where everyone can see transfer of all bitcoins.

I don't think Bitcoin will be the future currency, it will be another digital currency but Bitcoin will be a store value like gold but even better because it's digital.

yeah this is why I said i dont know enough about this shit lol

 

[kenetics]

yeah this is why I said i dont know enough about this shit lol

You just have to ask yourself why are the wealthy such as big banks, hedgefunds, and wealthy keep buying Bitcoin no matter if it crashes or not. Follow the money .

 

[Armbars]

Crypto currency should only be used to buy weed, cocaine and guns from onion sites.