Bitcoin Forum
May 21, 2024, 03:03:51 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 [3]  All
  Print  
Author Topic: None of you are financial experts, it's scary  (Read 681 times)
Sinistlercoin
Member
**
Offline Offline

Activity: 71
Merit: 10


View Profile
November 30, 2017, 08:42:10 PM
 #41


I've been following this forum for a few weeks now and I'm honestly shocked as to how little 95% you know about economics or finance in general.  

The Bitcoin community is filled with young, uneducated, and over-excited children "playing" with digital currency/asset as a hobby.  None of you have the slightest clue as to how quickly the entire value of Bitcoin could be brought down to $0 in a matter of days.

Put aside your egos and "to the moon" mirages and think about the following.  How will Bitcoin react if:

1.) The US government starts to regulate it? Or ban it? (GASP!)
2.) Another exchange is found to be a fraud?
3.) A bank or government created it's own cryptocurrency that's legal and trusted?
4.) Bitcoin has trouble scaling and it take days or weeks for transactions to process?
5.) Mining is no long feasible or profitable?

I am hopeful that a cryptocurrency will emerge in the near future.  However, in my opinion, the issues above need to be addressed for any new cryptocurrency to even have a shot.

Save the "oMfG you're a N00B with 1 p0St" bullshit.  I am an active investor in many different markets and industries. I'm hoping to open some of your eyes and bring you back to reality.


I am not young.  And, I don't hold much bitcoin.  But, OP, you comments betray you as being as ingorant about cryptocurrency and blockchain technology as you think the bitcoin community is about economics or finance.  As has been mentioned by various previous posts, for most of us, purchasing cryptocurrency is a calculated risk.  I only "invest" what I am willing to lose.  

I believe in the technology behind the cryptocurrency.  And, no one can deny that new technology has always driven economic and finance.  If you truly understand economics and finance, you understand that you must continue to think of them in new ways, as they adapt to new technologies.  OP, I hope we can open your eyes to the fact that we are not all as  young, uneducated, clueless, egomaniac children.  We just might be seeing the future in a way you never imagined possible.
LTU_btc
Legendary
*
Offline Offline

Activity: 3066
Merit: 1336


Slava Ukraini!


View Profile WWW
November 30, 2017, 11:20:53 PM
 #42

That's paradox - people without deep knowledge about finances and economics earning big money in crypto world. And I see little hate from people wo are working with stock markets towards to Bitcoin traders. People who studied for years and working it that sphere for many years can't understand how with amateur knowledge and not professional desicions can make more money than these who are working full time job with stock markets.
Ok, my minds about your question. I love to answer "what if?" questions Cheesy
1. Regulation of Bitcoin isn't really possible. But things around Bitcoin are already strictly regulated. Exchaging Bitcoin to USD requires to provide all personal details, ID. Don't forget about capital gain taxes.
Ban of Bitcoin in USA? Is it at least minimal possibility that may happen? But if it happen, yes, it would have terrible impact to Bitcoin, much biggern than ban of Bitcoin in China.
2. It already happens periodically. And it have impact only in short term. Just remember what happened when btc-e was closed by US authorities. And we can't compary any of current exchanges with Mt.Gox. Mt.Gox had huge dominance in market and volume. Now everything diversified between many exchanges, so 1 or 2 fraud exchange wouldn't have huge negative impact.
3. Well, governments are already trying to make their cryptocurrencies. Question what people prefer - decentralized Bitcoin or currency controled by government. Anyway, both currencies can be popular at same time - like Bitcoin and all altcoins now.
4. It's a serious problem. It already happens sometimes that we need days to get transaction confirmed, especially when spam attack happens. But weeks - you exaggeratated it a bit Smiley
5. Looks that you don't know how mining works - mining difficulty will just adjust to the current hashrate.
C'mon dude, we are already in reality. Do you really thinking that every Bitcoin investor is an idiot with purple glasses who don't have critical thinking. You are wrong. Smiley

pixie85
Hero Member
*****
Offline Offline

Activity: 2142
Merit: 528


View Profile
November 30, 2017, 11:21:54 PM
 #43

I can't believe you're replying to that troll. He doesn't even bother to answer you and defend his statements. I bet he made this account just to tell you how inexperienced and dumb you are and watch you try to prove him wrong. I'm sorry that you haven't invested before the pump. You can still make it, we're going from one moon to another. Time to lock the thread Wink
Pages: « 1 2 [3]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!