Quote:
Originally Posted by thommy
what YOU does not seem to understand ist that this is not a market - it is a LOTTERY.
so please educate yourself about the difference between markets and lotteries.
all what happend here was a speculation that only depend on the fact that people believe it or not believe it. as soon the non-believers are out the value of bitcoin is zero.
but the value of a dollar or a euro will still be the same.
you will still get the same for 1 US but you will get fuck nothing for a bitcoin.
you can do the fucking same thing even with toilette paper or dog shit and it will work as long as people WANT to bet in this game.
so donīt tell me it is because of the blockchain technology - this is pure bullshit.
blockchain WILL survice I AM 100% SURE and I said that FROM THE FIRST MOMENT.
but you can not think that everybody can print itīs own currency.
THIS will NEVER happen.
so can we agree that this is just ONE MORE lottery ?
but please do not call it currency - it have fuck NOTHING to do with that.
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1. you may also call it a lotery and gambling. Just like stock market, futures, forex, and others. Its a market and/ or lottery
2. 1 USD is worth just 1 USD. just like 1 btc = always 1 btc. by what USD is backed these days ? because surely not by number of goods produced and gold. I will tell by what: by military power and common BELIEF in US as a good country to do business. Just like EUR (excluding military power I guess...)
3. the only difference between crypto market and stock market is its volatily, being unregulated means also that its manipulated without no sanctions. up or down.