Lots of people make stupid amounts of money on dumb shit and they don’t get 1/100th the hate that people trading crypto and NFT’s do. And 100% of the crypto hate comes from people who were in a position to buy in earlier but didn’t. Folks who just learned about it from some crappy CNN explainer or whatever don’t hate it. You have to learn that hatred slowly as missed opportunities keep multiplying.
And I totally get that. I really do. I could have been very, very early but I was on the hater side for many years instead. I know what that side feels. They’re not good emotions and they don’t come from a good place. It’s not particularly healthy. Haters who can’t find a way to be happy for people who have found success really should try to tune it all out instead, because otherwise they’re just stewing in their own negative emotions and constantly rehashing old arguments that don’t even relate to what’s going on.
It’s only value is conversion to a government backed currency and is costlier to move around than actual money. It “democratizes” nothing. Pure libertarian word salad.
Have you bothered to do the bare minimum of research? Strassa called what you referred to as speculative bubble nonsense, one of the best retail-facing investment opportunities on the planet. Fwiw his company does 1% of all single-asset options volume in the us.
Mostly all I’ve done itt is ask questions in good faith. Yes I’m a skeptic. But I’m willing to be convinced.
When I get answers I consider nonsense or some aspect of behavior around crypto or NFTs clearly resembles a past mania (eg - shouting down skeptics), yeah I’m going to mention that. It’s not my fault people flip out and take that as a personal attack. I’ve endured way worse personal attacks itt than I’ve dished out.
I was considering joining the discord just for shits and giggles. But then Johnny Truant’s posts gave me a pretty good idea that I wouldn’t be interested in doing all that.
Do you not understand markets are forward thinking? People who foresaw this inflationary period coming, and didn’t think it was all fake (like you), were buying BTC at 4 figs and saw anywhere from 300-2000% returns over the past few years on that bet with a simple buy and hold.
Just like with any market, when you’re buying/selling things based off the news headlines, you’re already way too late.
I’ll gladly accept the gloating from people who were short term bearish at the top. Not from permabears who have had the same opinions about BTC from $600 all the way up to 60k. I mean you berated me for buying at 30k almost exactly one year ago. Now you’re posting BTC at 36k like it’s some huge victory–and doing it in a thread of your peers who are now hurting and have done nothing but try to help show you how to make some money in this game.
It’s a bad look my dude. And I hope if you decide to open this thread over the next few months, it’s for the purpose of actually trying to learn something about this market instead of just posting the same tired arguments and making yourself feel better through schadenfreude.
I still think there is a total disconnect between these things and their utility in any sort of space and the utility they have actually generated in the context of the global financial system.
I have exposure to exactly one cryptocurrency. My workplace gave us a Helium (HNT) miner as a gift a year ago. I set it up around then, was mining about 15-20 HNT per week for 10 weeks, it slowed to about 5 HNT a week after that, and is now at .25 HNT per week.
The idea behind HNT is that it sets up a widespread network that converts home wifi signals to a wider range lower bandwidth signal that can provide coverage everywhere. It is used by things like scooters, ankle bracelets, that need to provide a low volume of information but need to be connected everywhere.
When I started mining HNT, 1 HNT was worth about $1 USD. It then shot up to 4. Then 10. Then 20. Then 50. And it’s now between 25 and 30.
HNT is the #44 Cryptocurrency by Market Cap with all the HNT in the world being worth about $2.6 Billion.
Why does HNT need to be a currency with a wildly variant valuation relative to the USD?
Who would ever use HNT as a basis of transaction that is not part of the Helium Network?
BTC didn’t appreciate because of inflation, it appreciated in larger part because it is a speculative asset in a giant risk on market. It is a pretty poor hedge against inflation at present time, although I could see that changing in the future.
It is hard to have conversations about bitcoin because a lot of the criticisms of bitcoin come from people that are jealous they didn’t buy bitcoin at 200$ or whatever.
But there are some good faith criticisms of bitcoin and it is fun to debate as long as both sides are in good faith about it.
For example, some bitcoin maxis had Mark Cuban on a podcast and went at him for his criticisms of bitcoin (even though he holds some). They couldn’t shut him up with the simple “HFSP” response so they actually had to debate him. It was a good debate to listen to.
I have my fair share of criticisms about bitcoin but to debate about it I would get the usual “HFSP” responses. What if I wasn’t poor? Am I still allowed to point out the flaws?
I mean this was always the obvious end game right? The haters club must be so rich from having shorted this (with leverage if they truly believed) right now. Oh wait.
