Cryptocoin Value and Market Trend Discussion

[R0H1T]

Do you remember 2008 when the entire Real Estate sector went under?

Except it didn't, you still had real assets on the ground albeit highly overvalued just a few months back! And yeah I remember quite vividly the first shock to my investments back in the day, it's almost comical to compare crypto to anything (real)

Your recollection about the 2008 crash is also somewhat dubious. The entire crash happened in large parts because of CDO's & other "exotic" derivatives IIRC, not just the real estate sector overheating!

In fact drawing a tangent from that, one could argue crypto being the vaporware that it is actually mimics CDO's a lot

 

[Bomby569]

And less legitimate as ever.

Bitcoin has lost its way. It's not even a shadow of its original intent. Look how it is tied so close to other markets! Look how people leverage it so one market colapses another! Now tying it to a maniac is a good thing? This liar gives us credibility. Lol

Some people are in for a rude awakening.

you can't have it both ways, it now holds real value, and if it does off course it will react to the markets just like any asset. If it didn't, it would be a clear sign it hold no value.

it's original intent was a decentralised coin, it was achieved.

Except it didn't, you still had real assets on the ground albeit highly overvalued just a few months back! And yeah I remember quite vividly the first shock to my investments back in the day, it's almost comical to compare crypto to anything (real)

Your recollection about the 2008 crash is also somewhat dubious. The entire crash happened in large parts because of CDO's & other "exotic" derivatives IIRC, not just the real estate sector overheating!

In fact drawing a tangent from that, one could argue crypto being the vaporware that it is actually mimics CDO's a lot

CDO's played a big part for sure, but there was a very real problem in the market, deregulation. Someone without a job shouldn't be able to get a loan for 3 houses like by some accounts. CDO's were a consequence not the root cause of the problem.

Not all crypto is equal, BTC is no longer vaporware, we must accept this and move on, it now holds value even if there is no underlying physical asset attached to it. It's scarcity gives it its value.

 

[R0H1T]

The "big crash" was triggered by Lehmann's insolvency, it was also because of a liquidity crunch as no one was willing to shell out real money on possibly junk/worthless derivatives. At least if some of the movies made on it are remotely true, the housing "bubble" could've been managed if people also didn't lose trillions in the stock/debt markets.

Not all crypto is equal, BTC is no longer vaporware, we must accept this and move on, it now holds value even if there is no underlying physical asset attached to it. It's scarcity gives it its value.

You don't have to explain to me what value implies for anything really, I've been explaining the underlying principle behind it for years even here ~

Power resides where men believe it resides. No more and no less.

In that If I can get 2 billion people to believe that BTC is worthless it would be close to that just as quickly.

The big difference between vaporware, in the virtual world, and things in the material world being that there's a lot more to fall back with the latter. Now whether you believe it's worth it for you or not is an entirely different topic.

 

[Bomby569]

The "big crash" was triggered by Lehmann's insolvency, it was also because of a liquidity crunch as no one was willing to shell out real money on possibly junk/worthless derivatives. At least if some of the movies made on it are remotely true, the housing "bubble" could've been managed if people also didn't lose trillions in the stock/debt markets.

you started by disagreeing it was a problem with the real estate sector and now you're talking about the trigger event. There is a fundamental problem there of understanding causes and consequences, actions and reactions, that's what it seems to me.
Lehman's insolvency was not the trigger, it was merely the first corpse to fall on the ground.

 

[R0H1T]

I wasn't disagreeing with you so you had no reason to step in, stocks of most companies also have real physical assets so comparison to crypto is BS. Although I agree that stock market is just as a much a scam as crypto exchanges! As for real estate again there was something on the ground that had (some) utility, BTC does nothing which say a UPI cannot do for a fraction of the (energy) cost & it's much safer

And what does a "decentralized" coin even mean, who does it benefit except the top 0.1% at the helm?

 

[Bomby569]

stocks of most companies also have real physical assets so comparison to crypto is BS.

did anyone compared it to stocks?
still you could look at the pe ratio of Nvidia and tell me what real physical asset is behind that?

 

[ty_ger]

you can't have it both ways, it now holds real value, and if it does off course it will react to the markets just like any asset. If it didn't, it would be a clear sign it hold no value.

Lol. 'It has real value.' Just like some of the other overvalued hype stock. Some stock is a scam, some stock is real. This crypto is definitely not real regardless of which thing you tie its 'real value' to, IMO.

If you think the stock market will just keep shooting to the moon, I guess you think this insanity makes sense. In the real world, I think most people believe that this won't last forever and are looking for their peak that they plan to sell at. If the stock market goes down a lot -- and I think it will -- bitcoin will go down exponentially more, IMO.

The most recent legitimacy is an 'external revenue service' slush-fund of ill-gotten funds? ...Started by billionaires, controlled by billionaires, and argued about by billionaires as to who gets to funnel from it and use it for their purposes. A tower waiting to crumble. People will eventually want it to be destroyed. Who likes open corruption when it comes for them? Everyone short-sightedly likes it when it seems their bet on corruption is paying off, but when their golden age leaves them in the dust, a retribution comes.

 

[R0H1T]

Go back to the post I originally quoted, he said the entire real estate sector went under ~ it didn't. And if you can't make heads/tails out of that then stop pestering me!

did anyone compared it to stocks?
still you could look at the pe ratio of Nvidia and tell me what real physical asset is behind that?

Who cares? Didn't I say stock market is a scam, not unlike crypto

Someone could practically take down all crypto (wallets) & exchanges tomorrow & all of it would be worthless then, can you say the same about a home?