Where did you get the idea of “monkeys trading stones”? Have you ever seen monkeys trade stones before?
Human beings are the most intelligent creature on earth, and you don’t compare them with monkeys; although they may look alike in a way, but sense makes a difference. It’s like comparing a dummy with a wise person. By the way, whether bitcoin will be valued tomorrow depends on we the users; Are we going to value it tomorrow or not?
That's the point.. we all think we are better but at the end of the day we are just monkeys trading rocks. I can definitely compare many peoples emotional trading to being no more sophisticated than what a monkey would do. Value is subjective, we can value one thing differently from day to day, meaning that it's all arbitrary, the flavor of the week.
When it comes down to it, bitcoin is great, but it would work the EXACT same way @ $5 a piece. So to argue that bitcoins underlying technology is the reason its nearly 5k ea really isn't grounded in reality. Its because we are playing the bitrock-hoarding game...
The vast majority of users here make decisions based on nothing more than emotion.
Also, monkeys have definitely been known to use tools, even trading them with eachother... so I wouldn't be so quick to write them off as "dummies".
Half the people here on the forums remind me of monkeys talking about $50 ripple rocks lmao. Something about how it'd be cheaper for a bank to use the ripple network LOL, that's just delusional. A bank would never risk putting customer funds into a publicly-traded, unregulated, exchange system with a fluctuating price when they can just clone it and make it their own. Plus, what's cheaper than using the ripple network? Cloning it and making it your own so the fees go to the bank instead. It's much more likely for them to base the system off of fiat currency as well, simply because that works better with their business model.
To say we aren't monkeys is to deny our ancestry. Check out some of the studies on monkey versus human psychology. We really aren't all that different emotion wise lol. Human beings are intelligent, but that still doesn't mean we aren't stupid at the same time. I see plenty of assinine behavior from humans. If humans didn't exist, pretty sure bonobos would be the most intelligent... do you consider a bonobo intelligent? no you consider yourself smarter, purely because humans are the smartest thing humans are aware of. I'd imagine that bonobo would feel pretty intelligent too if he sees nothing else smarter than him in the animal kingdom.
Also, a good example is Paypal... They have millions of users and currently hold around 13 billion in customer funds. Granted, Paypal only has to change numbers from one account to the next, where as bitcoin needs liquidity to buy and sell and have a semi-stable exchange rate... but at the end of the day the scale of Paypal is much bigger payment volume wise than bitcoin is... and they only hold 13b in customer funds.
At least I can actually use Paypal to purchase things I need for my family... bitcoin I have to exchange to fiat (one way or the other). The fees are more with bitcoin when counting transaction fee + fiat conversion fee than with paypal lol.
There's no way in hell bitcoin deserves a 75b market cap, but I am happy it is because the profits have been amazing
Let the poop flinging commence.
