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Bitcoin is worthless - Printable Version

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Bitcoin is worthless (/showthread.php?tid=13994)

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RE: Bitcoin is worthless - Lucy - 26-03-2023

invest in this and that goyim
>moves money somewhere<
*crashes economy*

the dumb goyim was stolen once again!

RE: Bitcoin is worthless - Lucy - 26-03-2023

posting this for the lulz and for the memories we made!

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RE: Bitcoin is worthless - MysteriousWeeb420 - 26-03-2023

(26-03-2023, 02:24 AM)Dolly Buster Wrote:
(26-03-2023, 01:28 AM)MysteriousWeeb420 Wrote: Scams rely on imperfect information 

People still trade bitcoin for $27500 as we speak with full information

These things are not alike

The guy that bought Bitcoin at $67,000 also thought he had full information

But he was scammed by pumpers
Price movement is not a scam. 

Are Tesla stock and Meta stock scams. Was the entire market in 2008 a scam?

RE: Bitcoin is worthless - Dolly Buster - 26-03-2023

(26-03-2023, 09:55 AM)MysteriousWeeb420 Wrote: Price movement is not a scam. 

Are Tesla stock and Meta stock scams. Was the entire market in 2008 a scam?

OK So now you no longer contend that "someone paying" alone proves value, you have moved to a second argument.

Which is: "OK Bitcoin is worthless, but so is everything else." (subtype: stock)

Unfortunately for crypto ethusiasts, stocks have something that sets them apart. Which is: these companies have earnings, or at least the potential of earnings.

Their profitability might looks something like this

   

Yes there are droughts but when earnings pour in, now suddenly owners of that company have something of value (cash). Which is why it makes sense to be a company owner a.k.a. shareholder.

Since Bitcoin will never have any "earnings," then it makes no sense to compare it to a stock.

So this is already argument #2 that is commonly cited yet refuted by the almighty Nevenka Slavkovic-Buster (my real name).

RE: Bitcoin is worthless - Dolly Buster - 26-03-2023

Recap of refuted arguments, which people should no longer go back to:

  1. "As long as someone paid, it's valuable. No further discussion needed."
  2. "Bitcoin is like a stock."


RE: Bitcoin is worthless - Dolly Buster - 26-03-2023

(26-03-2023, 06:23 AM)Lucy Wrote: posting this for the lulz and for the memories we made!

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[Image: 1660858188204240.png]

Yeah I like to say the following when BTC is falling:

"OK I'm going to go read the obituaries (Reddit/Bitcoin)"

RE: Bitcoin is worthless - MysteriousWeeb420 - 26-03-2023

(26-03-2023, 11:25 AM)Dolly Buster Wrote:
(26-03-2023, 09:55 AM)MysteriousWeeb420 Wrote: Price movement is not a scam. 

Are Tesla stock and Meta stock scams. Was the entire market in 2008 a scam?

OK So now you no longer contend that "someone paying" alone proves value, you have moved to a second argument.

Which is: "OK Bitcoin is worthless, but so is everything else." (subtype: stock)

Unfortunately for crypto ethusiasts, stocks have something that sets them apart. Which is: these companies have earnings, or at least the potential of earnings.

Their profitability might looks something like this



Yes there are droughts but when earnings pour in, now suddenly owners of that company have something of value (cash). Which is why it makes sense to be a company owner a.k.a. shareholder.

Since Bitcoin will never have any "earnings," then it makes no sense to compare it to a stock.

So this is already argument #2 that is commonly cited yet refuted by the almighty Nevenka Slavkovic-Buster (my real name).
I never conceded that "someone paying" (what I would call supply-demand interaction) does not prove value. just that imperfect information can lead to immoral profiteering.

I also never said bitcoin was like a stock, I only used stocks as an example of how dramatic price changes dont neccesarily translate to zero fundamental value. 

My argument is very simple, bitcoin has value as a currency. 

bitcoin against characteristics of money:
  • durability - does not have a physical form so cannot be damaged
  • portability - again, no physical form so can be taken anywhere with ease
  • divisibility - can be divided up to eight decimal places, more than fiat currency
  • unformity - every bitcoin is identical
  • limited supply - hard cap of 21 million
  • acceptability - if I offer someone on the internet bitcoin for a service, they will gladly accept it as a payment

 
It also has value as an instrument of financial speculation. Just like how stocks can have value as a result of speculation about future dividends, assets can have value as a result of speculation about the future of global financial systems (think CBDCs and all other assets in the world tokenised into a huge digital ecosystem where bitcoin plays a key role)

RE: Bitcoin is worthless - Dolly Buster - 26-03-2023

(26-03-2023, 01:35 PM)MysteriousWeeb420 Wrote: I never conceded that "someone paying" (what I would call supply-demand interaction) does not prove value. 

You proceeded to a second claim ("Stocks are valuable even if they are occasionally overpriced")

It means that the first claim ("Where there's demand there's value") failed

RE: Bitcoin is worthless - Mustang - 26-03-2023

(26-03-2023, 01:46 PM)Dolly Buster Wrote:
(26-03-2023, 01:35 PM)MysteriousWeeb420 Wrote: I never conceded that "someone paying" (what I would call supply-demand interaction) does not prove value. 

You proceeded to a second claim ("Stocks are valuable even if they are occasionally overpriced")

It means that the first claim ("Where there's demand there's value") failed

Capitalism is literally retards, as the failure of bitcoin proves. 

Psl is a retard board. All of you will die.

Psl creates buttcoin threads every week, all with the same conclusion, that you are retards and will die. Psl only exists to delay the outcome, anyone who isn't a retard commits suicide immediately.

RE: Bitcoin is worthless - MysteriousWeeb420 - 26-03-2023

(26-03-2023, 01:46 PM)Dolly Buster Wrote:
(26-03-2023, 01:35 PM)MysteriousWeeb420 Wrote: I never conceded that "someone paying" (what I would call supply-demand interaction) does not prove value. 

You proceeded to a second claim ("Stocks are valuable even if they are occasionally overpriced")

It means that the first claim ("Where there's demand there's value") failed

just because something went down in price does not mean it was overpriced beforehand. value is subjective

RE: Bitcoin is worthless - Dolly Buster - 26-03-2023

(26-03-2023, 01:35 PM)MysteriousWeeb420 Wrote:  portability 

What are you transporting though. We have not agreed it has value.

Your reasoning seems to be:

Step one: "We all know BTC is valuable."
Step two: "BTC is portable, and it can be very useful to teleport valuables."

But since Step one was never proven, then the portability of a worthless item is actually of no use.

RE: Bitcoin is worthless - Mustang - 26-03-2023

(26-03-2023, 01:52 PM)MysteriousWeeb420 Wrote:
(26-03-2023, 01:46 PM)Dolly Buster Wrote:
(26-03-2023, 01:35 PM)MysteriousWeeb420 Wrote: I never conceded that "someone paying" (what I would call supply-demand interaction) does not prove value. 

You proceeded to a second claim ("Stocks are valuable even if they are occasionally overpriced")

It means that the first claim ("Where there's demand there's value") failed

just because something went down in price does not mean it was overpriced beforehand. value is subjective

Value is jewish.

RE: Bitcoin is worthless - Dolly Buster - 26-03-2023

(26-03-2023, 01:49 PM)Mustang Wrote: Psl creates buttcoin threads every week, all with the same conclusion

Actually 99% of people parrot the same lie that BTC is ingenious, and only a few select sages like myself Peter Schiff and Nouriel Roubini Ph.D. are of the opinion that crypto is poo in the loo

RE: Bitcoin is worthless - Mustang - 26-03-2023

(26-03-2023, 02:14 PM)Dolly Buster Wrote:
(26-03-2023, 01:49 PM)Mustang Wrote: Psl creates buttcoin threads every week, all with the same conclusion

Actually 99% of people parrot the same lie that BTC is ingenious, and only a few select sages like myself Peter Schiff and Nouriel Roubini Ph.D. are of the opinion that crypto is poo in the loo

You'll die of peak oil,.it's wonderful.  This forum has 3 years left to live. You'll die. It's amazing, its wonderful.

RE: Bitcoin is worthless - Dolly Buster - 26-03-2023

(26-03-2023, 01:52 PM)MysteriousWeeb420 Wrote: value is subjective

So how about scams. I scam you by saying: "Have you ever wanted to own a spanking new Rolls-Royce? But you felt 400 grand was steep? I'll get you one for just $2000 in cash."

And then after you pay me, I flee with the $2000.

Will you say that value is subjective, and that my above business was legit, and no one can say otherwise.

Or is it the case that the victim was duped by sweet talkers (and the sweet talkers in this case are crypto moon websites)