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101  Economy / Economics / Re: The intrinsic fallacy on: February 07, 2018, 07:12:00 PM
But it remains: There's no intrinsic value! Not on gold, not on livestock, not in a house, nowhere.

Intrinsic is something that doesn't rely on any third party to exist and therefore can't be changed by any third party as well.
Take the copper conductivity, it 's 58,5x10^6 Siemens, and it is as so now as it was 10.000 years or 1.000.000 years ago and it will remain so 10.000 or 1.000.000 years from now. Because that's intrinsic, what you do or don't doesn't and can't change it. You may add graphene oxide to it or other metal to change it, but then it's not copper, is a new material or league, copper itself will never change.

What you're saying when you imply something will have some value on the future, is the concept os store-value. Store value doesn't imply that thing will worth the same, more or less than now, it just implies it will worth something. You can do it with anything that doesn't decay: Bitcoin, gold, empty soda cans collection, rocks found at the river... out of 7 billion people you surely will find someone to buy something, so everything has some value.
102  Economy / Economics / Re: The intrinsic fallacy on: February 07, 2018, 05:15:37 PM
But you still can't express that value, don't know how much it is or can be. It's just something > 0, but nothing specific.
Same rules would apply to so many things, Facebook, Twitter, 90%+ of NASDAQ have absolutely no intrinsic or fundamental value whatsoever, yet you don't see a guy coming out everyday speaking of its "intrinsic value", do you?
103  Economy / Economics / Re: The intrinsic fallacy on: February 07, 2018, 04:58:42 PM
What they mean by intrinsic value is that something has demand outside of speculation. For example, precious metals and real estate have demand even outside the financial world. Stocks, bonds provide income in form of dividends and interest rates, and are legal form of ownership or lending.
While cryptos don't generate income like companies, don't have industrial use, nor give you legal rights, it's just mostly speculation right now. You're gamlbing on a fact somebody's gonna be willing to buy it later, but 99% of price and transactions are purely speculative without any real world use.

But usability doesn't provide value on its own, nothing does. Value is always relative to how much one wants to pay and the other to receive. Be it crypto, gold or potatoes.
For an instance, gold has very little industrial application, less by day on jewelry and yet its value goes up, because usability is unrelated to value.

The belief on "intrinsic value" was part of the problem at 2008 crisis. Real estate, like anything else, depends on supply and demand rules for its value and it eventually came down.
104  Economy / Economics / The intrinsic fallacy on: February 07, 2018, 04:37:22 PM
There's nothing more annoying than keep listening to some idiots, and idiots that are supposed to know what they are talking about, speaking about "intrinsic value".
Let's put this straight once and for all:

There's no such thing as intrinsic value!

Intrinsic means something a thing has on its own, regardless of human intervention. What things have is intrinsic properties; gold has the intrinsic property of resisting erosion, copper has the intrinsic property of conduct electricity, and so on. But none has value on its own.

Value is always attributed, never intrinsic!
105  Economy / Economics / Re: is it a bubble? on: February 05, 2018, 09:02:46 PM
As long as all you can think of it is its USD value and your only hope is to buy for few USD and sell for more USD, then it's a bubble... and this isn't valid for Bitcoin alone, this is as valid for Bitcoin as it is for gold, oil, potatoes or any asset you're inventing in.
Bitcoin is money on its own, you shouldn't be thinking on "how much USD (or other fiat) I'll get with this", but "what's the purchase power of Bitcoin", how many potatoes can a Bitcoin buy, how many Bitcoins it take to buy a house... basically what you do with USD (or whatever fiat is legal tender where you are).
106  Economy / Speculation / Re: A new perspective, the USD/BTC pair on: February 04, 2018, 01:06:00 PM


I made this a while ago.

Curious, isn't it? The massive devaluation of USD happened by late 2016, December 2017 is a nearly flat line.
Basically USD devalued so much that a tiny move will result on a mountain at the other end.
107  Economy / Speculation / A new perspective, the USD/BTC pair on: February 04, 2018, 03:18:40 AM
Most of people still thinks by what they are more used to, an European will say the Euro worth 1.20 USD whereas an American will say the USD worth 0.8 EUR.
So most people just does the same for BTC, they think on how much fiat a BTC worth but never care to check the opposite: how much BTC the fiat worth. And here things get interesting. You see that huge climb at December to 20k? If you see it on the opposite site it just looks like a flat line.
At the moment everybody keeps saying BTC worth 9000 something USD, but nobody sees it means each USD worth ~0.0001 BTC

Here's a peek at the other side of the mirror:


1 Year view


3 month view
108  Alternate cryptocurrencies / Altcoin Discussion / Re: Ethereum will overtake Bitcoin on: January 29, 2018, 01:48:12 AM
There is a big possibility on that. Btc is something like want to stable itself in making its uses in a specific use in crypto. Limiting itself in what can btc able to do.
While Eth is like a hard working coin that wants to overtake btc in the making future in crypto. Eth progression is very strong and very progressive in just a year. While btc now is in a stagnant place.


Currency is meant to be useless, it just needs 1 functionality: be a mean of exchange.
Adding features to currency is nothing but a mistake, and ETH is nothing but a framework for ICO scams, which are multiplying by the minute. If you want to build services around a currency, Bitcoin has more than what is needed for it.
109  Alternate cryptocurrencies / Altcoin Discussion / Re: Ethereum will overtake Bitcoin on: January 28, 2018, 11:20:18 PM
Stop comparing shitcoins to Bitcoin... it's ridiculous!
110  Economy / Economics / Re: Is Warren Buffett selfish? on: January 23, 2018, 04:49:17 PM
His statement was around "I don't know what it is and will not care to look into it". This is basically what he said, but the sensationalist bs media twisted his words to other meaning.
He's just an old rich man, won't pay to spend time studying new technologies for him.

So true. He conceded that he doesn't really know much about it, only that it has no backers and no intrinsic value, and that's probably enough to ring some bells in his head. We know it's speculative, we know it's risky, and those may be the very reasons he has for thinking what he does.

No backers would be as true to Bitcoin as it is to US Dollar or any currency around.
As for "intrinsic value", there's no such thing in this world. Materials have intrinsic properties, but value is 100% subjective and relative.
Value derives essentially from supply and demand, not from "how hard it is to make" or even on "how scarce it is". One thing can be hard to make and scarce and still have no value, as long as there's no demand for it, or can be easy and common and still have value, as long as it has demand.
111  Other / Beginners & Help / Re: Mises' Regression on: January 23, 2018, 12:36:46 PM
Have a good reading:

https://wiki.mises.org/wiki/Regression_theorem
112  Economy / Economics / Re: Is Warren Buffett selfish? on: January 23, 2018, 12:34:49 PM
His statement was around "I don't know what it is and will not care to look into it". This is basically what he said, but the sensationalist bs media twisted his words to other meaning.
He's just an old rich man, won't pay to spend time studying new technologies for him.
113  Economy / Economics / Re: [BREAKING NEWS] BTC WILL COLLAPSE!!!!! on: January 23, 2018, 10:49:20 AM
You're aware that the whole USDt on circulation sums up to 2 bln, right?
However yes, it's a scam and will certainly impact BTC and alts, but not to the hight you're talking about.
114  Economy / Economics / Re: The USDT problem on: January 22, 2018, 07:20:15 PM
I don't think they can store such a value at a bank account, their whole business is shady and hard to explain. Also it was meant to be redeemable, means that you could transform them back to USD, which would cause your USDT to be destroyed, yet it seams no USDT was ever destroyed. Nobody would redeem it? Not even for curiosity? Suspicious, to say the least...

Sorry if I didn't properly explain myself, my point is about BTC markets. Due to this "magic money making machine" the market could be inflated and in the verge of collapse as soon as Tether collapses, a MtGox part 2.0.
Do you think this is a point of concern or the exchanges on "Tether steroids" won't be able to hurt the market?
115  Economy / Economics / The USDT problem on: January 22, 2018, 06:10:12 PM
USDT is leaving some people unrest.
At a glance, it's basically fiat without a trustworthy counterpart, "magic money" at will.
What's your view on this subject and what consequences may be expected?
116  Local / Português (Portuguese) / Re: Transferência para endereço de moeda errada on: January 05, 2018, 05:23:41 PM
Tens razão, P2SH dá as mesmas hash nas duas redes.
O que é um bom sinal, basta importar a private key dessa hash do cliente Bitcoin no de Litecoin.

Quote
Litecoin Foundation Director
Please note. You can recover those coins, the keys used to generate that address will generate the same address on the other network.
117  Local / Português (Portuguese) / Re: Transferência para endereço de moeda errada on: January 05, 2018, 04:11:08 PM
33WbHkUAwGxdwCQHj2YioYWeEENTHzRo9N não é um endereço Bitcoin! Endereços Bitcoin começam por 1.

https://live.blockcypher.com/ltc/address/33WbHkUAwGxdwCQHj2YioYWeEENTHzRo9N/
118  Other / Politics & Society / Re: indonesia on: January 05, 2018, 12:02:54 AM

despite the restrooms being clearly marked for gents & ladies?


Yes, they just go to the one that's vacant. So don't get surprised to see a guy coming out of women's or a girl coming out of men's.
This seams more normal outside Paris.
In a way they've a point, usually you see a huge queue at women's restroom and none at men's, this way they just get things going more gender equally.
119  Local / Portugal / Re: XRP - Questões e comentários on: January 04, 2018, 01:23:42 PM
Eu não digo que compres ou não compres, é uma escolha tua.
No entanto convém saber o que é XRP, a moeda do Ripple.
O XRP não é nem uma bitcoin nem comparável à maioria das crypto, o XRP é um token centralizado, mais comparável à Liberty Reserve ou e-Gold que outra coisa.
Assim sendo tem um risco acrescido, ao contrário das outras, que podem valer 1.000.000€ ou 0,000001€ mas não desaparecem mesmo que seja proibido aqui ou acolá, a Ripple pode desaparecer simplesmente. E basta que apareça um esquema de negócios escuros a usar XRP e *puf*, vai tudo dentro e acabou.
120  Other / Politics & Society / Re: indonesia on: January 04, 2018, 01:15:50 PM
@Sithara007,
India is overcrowded, so over 1,3 bln people some oddities may surface and even become "norm".

@zenyfomax1,
They had that issue in the past, now it's a 70€ fine. Still wasn't that "poop everywhere" situation.
The major oddity I found at France is the way they use public restrooms; they simply go to the one that's vacant, regardless of the gender.
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