The troll is the one who cannot answer serious meant question is only referring to the hope that the price could rise in future. Thats so plain.
And whatever cryptocurrency you look at. They are all only assets and no legal tender.
An asset that has no interest nor a dividend. You are buying just ZEROS and ONES.
If you step back for a moment its so evident.
Wheter bitcoin, goldcoin, shitcoin or karbo. You even do not partizipate at any kind of property. Really - its pure HOT AIR.
Its a REMAKE of the TULIP BUBBLE in 1637. Thousands of different tulips are getting massively expensive. Would you pay the price of a brandnew house in the best street in the most expensive city in Ukraine to get a tulip? Almost 400 years ago the humans DID exactly this. Nowadays it would NOT come into your mind.
And the same is true with cryptocurrencies.
The truth is: you are ONLY keen on the money you get for nothing. You are searching a greater fool than yourself. The buyer of nothing hopes to find another buyer to whom he can sell the nothing to a higher price. Look for
https://en.wikipedia.org/wiki/Greater_fool_theory.
And thats it. Nothing more. So plain.
And the intrinsic value does not rise because another one is willing to pay for nothing more than the fool before him did.
Its just a matter of GREED and FEAR. Every single speculator who invests in cryptocurrencies has lost his intellect.
Even Jamie Dimon realizes that his own daughter has lost control over her rationality.
See
youtu.be/40OuVyVGdIMOr let me express the cryptocurrency mania in other words: If money is the water you need to live, then bitcoin and karbo and co. are only the bottles, who are transfering the water from one place to another. So at the end you are not buying the water but only the bottle - the packaging. I mean, such a bottle which transports water can has its price but its miles away from the value the water or let it be beer, wine or wodka
(I hope you realize what I mean).
Its about the content you really want to buy and not the packaging.
And the content is the USD, the UAH, the RUR, the JPY.
You cannot invent a whole new currency. Thats impossible. You can invest to transfer money respectively legal tender faster and to much lower costs - thats okay. But to invest a new kind of money? Sorry folks. Thats not the case with Karbo, with Bitcoin or whatever the Shitcoin is calling itself.
Look the video. Its an excellent interview. Almost every single sentence of Jamie is ready for press. Jamie is a very clever man. He at least CAN still think in a proper way. With due respect but I doubt that the buyer of the so called cryptocurrencies are still able. The seller - okay
But the buyer? I have my doubts.
"Blockchain = good technology." - I agree.
"You can do whatever you want. I don´t care." - Thats right.
"I could care less of Bitcoin trades for, how it trades, why it trades, who trades it. if you ´re stupid enough to buy you ´ll pay the price for it one day." - So it will be.
" I ´ve told people that they can trade 100,000 dollars before they trade it to zero." - I fully agree.
"The only value of bitcoin will be the other guy will pay for." - Right, the "other guy" resp. the buyer pays in USD, UAH, RUR or JPY. And only THESE fiat currencies will be the value.
The next sentence I do not understand clearly ... something with "maybe you buy it too and take them out."
"I mean it by the way." ... What does he means?
"These people are very good in manipulating the press and getting news out every day." Oh ha !!!!!! Sound familiar to me !!!!!!!!!!!!!!!!!!!!!
"CNBC - nonstop bitcoin." - Thats almost standard to speak about bitcoin. .. But let me rethink ... talking about hot air in a financial tv show should be standard?
"Who cares about bitcoin?" - I would say: "Nobody, but everybody cares about the vale of USD which is connected to bitcoin."
"The worlds enonomy is SO big. JPMorgan ALONE is moving 6 trillion DOLLARS every single day ! And bitcoin maybe a billion trades a day?" - Thats no argument I ve to admit.
And now its getting interesting. "The other side is ... governments. And this is not a technological statement.
GOVERNMENTS are going to CRUSH it on day." - OH yes. I think it could be like in china. Governments will be fed up with that gambling in hot air. Really. Until today bitcoin was small in market capitalization. But the bigger it gets the bigger the threat that a crash could affect the financial stability. And if the central banks tell the governments that
THIS IS ALREADY the CASE then
governments will act. and
ban the cryptosector. The whole sector. Every single exchange will then close. And who THEN still HAS this nice ZEROS and ONES in his pockets. These little smart arithmetic units, he wount get NOT anymore for WHICH reason resp. aim resp. value he has bought this unit. Then is GAME OVER. I think to 95% that this be the case in the future. China was the best example. Now the western world is getting made. The bigger the price gains, the more it is a threat. The faster we are getting to this point of BAN.
"The governments like to know WHERE the money is, WHO has it and WHAT you are DOING with it." - so true "And you are okay? with having it to noticed." -
LOL - GREAT. Yes we DID already noticed that government wants to know WHERE the money is, WHO has it and WHAT we are doing with it.
"And governments like to control their currency." - Absolutely true. Anything else would make no sense.
"Governments like to control their own economy." - Right. And also its citizen want to own a government that cares about a stable currency. If government wouldnt do anything the bitcoin would have been invested much more earlier. It is the answer of a crisis. And we will get the next crisis because the people are speculating like hell in bitcoin and co. and not consuming or investing the money as they should do to do the economy a favour. With gambling you just do your brain a favour. And nobody else. It can be entertaining until a certain limit. But when a whole economy would be in danger because of irrational exuberance and I would be the government I would close this threat instantly. China did it already.
"China put already curbs on it."
Then "Japan accepted the bitcoin. No they didnt. They made J-coin. Its a YEN-cryptocurrency. Its not a non fiat. People say: "Hey Jimmy, its close to gold." No Gold is limited. And it (what is referring to? Gold, J-currency or bitcoin?
) is close to a fiat currency. No. Fiat currency is (Jimmy is explaining us what fiat currency is) when a government says: "This is your legal tender. You have to give it and accept it." I think there is nothing wrong with it. Should people make deal without paying taxes? And who should then pay for ecucation and schools and public buildings like libraries and museums and hospitals and streets and digital infrastructure and fundamental research and development and the people who are working for the government like policemen and justice and parliamentarians and officials and teacher and public authorities who control the citizens food and health and so on? Some parts can be overtaken by private corporations like hospitals and so but not now. So yes, the government wants to have control and thats ok. Except you are a criminal. For criminals bitcoin is a great product. Jamie is telling this,too.
"... and there is a central bank. Of course they can misuse it, the central bank, inflate it. So there is a use case of bitcion. Venezuela. Noth Korea." - Yes, and this is the only advantage that bitcoin and co have, IF it is generally accepted. Its scarce. A store of value, if the official currency is inflating. Of course - a currency that IS inflating has less until some time ZERO value. Inflation is also high in Ukraine? Yes, it is, but it is decreasing. But very volatile.
Inflation data for Ukraine in % (compared to the year before)
2007: 12,84
2008: 25,2
2009: 15,9
2010: 9,37
2011: 7,96
2012: 0,57
2013: -0,26
2014: 12,1
2015: 48,68
2016: 13,91
2017: 11,5 (estimated)
For that reason the Karbo makes sense. Especially if the inflation would rise again.
And Jamie is goes on with: "But this is the last time I am gonna answer queston about bitcoin because I really don´t care."
And Jamie is finishing with: "I want to point out when I made that stupid statement - I call it (bitcoin) a fraud - my daughter sent me an email saying: "dad, I won 2 bitcoins." ... my formerly smart daughter." LOL
A great interview. In short: bitcoin and Karbo = an option against inflation and hyperinflation of course. But beyond this its quite worthless. I would tend to gold (but gold price is not rising), IF I would buy a put against inflation. bitcoin and cryptocurrencies seem to be just trendy and a nice thing to gamble with. Thats it. A pure remake of the tulip mania.
You will be lucka to read my comments here. IF you hear to me and stop this dumb trading of nothing. Otherwise you will for it one day. As Jimmy says: "a gambler will trade himself to zero." Please do not spent ur money for speculation of something that has no value, except you mean the equivalent of the Karbo or whatever. Then you can also buy directly USD, RUR, UAH, EUR or JPY or gold, art, oldtimer, stamps or anything else. But an artificial unit?
