Now That's a Crypto Crash

If I go less than 200 miles from my house the currency in my pocket wouldn't buy me a loaf of bread. In fact it wouldn't buy me anything, it would be worthless. And yet, here it could buy me bread, a car, a house or more! Currency isn't the symbol on the front, it's the value it has, or maybe we bind it to something like gold. Cryptocurrency has a "value" because we assign it one, much like normal currency. But the difference with Crypto is that you can do so much more.

except walk into any grocery store, basically anywhere, and buy a loaf of bread with it.....
 
except walk into any grocery store, basically anywhere, and buy a loaf of bread with it.....

Basically anywhere... so your country counts as "basically anywhere" I guess?

Or.... you could use an exchange, transfer it into whatever currency you can do that with, and buy whatever you wanted.

I understand. It's difficult to "get" the concept of different currencies sometimes.
 
Yeah because that's totally how it works! Instead of just ignoring all the jibber jabber type speak, you need to counter it with your own views, because there will be hell to pay if anyone is wrong in your eyes on the internet!

doesn't really matter. I'm more of a centrist. right leaning on some things.

Every time someone on either side espouses a strong opinion that reflects their particular flavor of Kool-aid it brings out counter opinions from the "enemy" doesn't matter who was right or wrong it's like dumping a jar of red ants on an anthill full of black ants. Much entertainment and lots of dead ants.
 
Basically anywhere... so your country counts as "basically anywhere" I guess?

Or.... you could use an exchange, transfer it into whatever currency you can do that with, and buy whatever you wanted.

I understand. It's difficult to "get" the concept of different currencies sometimes.

What's the point of a currency.... if I have to exchange it into another currency to buy something with it? o_O

It's difficult to "get" the concept of liquidity I suppose.
 
What's the point of a currency.... if I have to exchange it into another currency to buy something with it? o_O

It's difficult to "get" the concept of liquidity I suppose.

OK whatever man. Crypto's worthless because you can't buy bread with it, you're 100% right.
 
Or.... you could use an exchange, transfer it into whatever currency you can do that with, and buy whatever you wanted.

I understand. It's difficult to "get" the concept of different currencies sometimes.

not really. I've converted currency all over the world. and, oddly enough, US Dollars are taken in a lot of countries right on the street, at a better rate than the banks.

And no, you can't walk into a bank and convert ANY crypto into the local currency. Exchanges don't mean squat if I can't use them wherever you are at. without an exchange fee that makes it useless for everyday use.
 
OK whatever man. Crypto's worthless because you can't buy bread with it, you're 100% right.

As a currency in and of itself, it is worthless. Maybe there are merits as a concept, or at least as a proof of the technology, but absolutely not on it's own as a currency as we are seeing it right now.

What's happening right now feels a lot like this: https://en.wikipedia.org/wiki/Tulip_mania
 
OK whatever man. Crypto's worthless because you can't buy bread with it, you're 100% right.

Nobody is saying that. what everyone is saying, is that Crypto isn't usable for the ordinary man on the street. I can't walk into Starbucks, whip out my Cryptocard" and buy a latte'.

Maybe someday. but it's not that user friendly yet
 
The thing is that Bitcoin and any crypt-currency is that it is actually Fiat money because anyone can decide to make another currency and start using that.

With money from governments, those governments are more permanent than Kodak starting their own currency.

So as with actual money today, until a STABLE organization adopts one crypto-currency, I don't know how it could be anything other than a wildly speculative market.

Blockchain technology in other areas is more interesting... for record keeping, etc.
 
Let us please go back to the great recession we had under Obama

I usually dont get into discussions that pit right vs left, if thats what its called, but knowing that this forum is full of thoughtful folks, I would like to point out that obama 'actually' inherited the worst financial situation since the great depression. Worldwide!

Its ok to not like someone in the presidents chair, but its not fair to not like someone for the wrong reasons.

This forum is full of folks that can trace digital signals from the <older way> northbridge to the south bridge across to ram, rom...whatever.

When positioning ourselves to folks in office, was Obama the originator of the data or was he just processing what he was given?

If this means that credit for higher earnings should be given 'exclusively' to the person currently in the chair, again credit isnt given to the person that had to process the original data.
 
That's what government interference does.

The numbers wouldn't be where they were without non-government interference. If you think that price wasn't manipulated, I've got a bridge to sell you.
 
Go back to Reddit.com if you need your safe space back.

Zzzzzzzzzzzzzzzz. Redwhat?

It's not about safe space, dude...it's about staying on @#$# topic. Nice try, though (actually, not really...I was just trying to be polite). Get back under your bridge.
 
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Please stop reposting knee-jerk attention-span-of-a-gnat articles about crypto prices.

The market is more volatile than other, older markets. 50% slides in a day or two are not news. As of right now, prices have effectively recovered back to Monday's levels.

I'll get concerned when the losses are sustained for more than a few days - or more than a few weeks.

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Prefer left-wing BS in every thread lol?

No, I prefer threads stay on topic instead of devolving into political "debates."

First of all, you guys aren't that good at debates.
Second, I don't come here for politics; I come here to avoid politics. Please keep it to yourselves, already.
 
'Cept it's not BS when it's true.

Really? What's next? "I'm rubber, you're glue..."?

Here's the thing: When it invades every thread and derails every conversation, it absolutely IS b.s. It doesn't matter that that you're just *so darn sure* you're right, because it doesn't belong in the thread, full stop.
 
Really? What's next? "I'm rubber, you're glue..."?

Here's the thing: When it invades every thread and derails every conversation, it absolutely IS b.s. It doesn't matter that that you're just *so darn sure* you're right, because it doesn't belong in the thread, full stop.


Pot. Meet Kettle.

ONE person made a comment. but you.won't.let.it.die
 
If I go less than 200 miles from my house the currency in my pocket wouldn't buy me a loaf of bread. In fact it wouldn't buy me anything, it would be worthless. And yet, here it could buy me bread, a car, a house or more! Currency isn't the symbol on the front, it's the value it has, or maybe we bind it to something like gold. Cryptocurrency has a "value" because we assign it one, much like normal currency. But the difference with Crypto is that you can do so much more.

All true; however, history tells us that we will not continue to assign value to most currencies. In order for the model to work, there must be one (or at most a few) "winners." The alternative is a huge increase in the amount of currency available without any corresponding increase in the goods/services they're chasing. And we absolutely KNOW what happens next...
 
if you cant buy a loaf of bread its not useful to most ordinary people as a currency, of course its useful for criminals and speculators but for how long before governments come down even harder on them.
 
lol this bitcoin madness is actually going to force me to go Nvidia after using radeons only for about the last 15 years its quite sad.

I refuse to $700 dollars cad for a rx580 which is what I was looking at.

The prices are so stupid i'm about to just say F**k it and pickup a 1080ti i'm going go to be forced into spending that much as might aswell just go straight to the top, I would feel less ripped off then paying $700 for a midrange card.

The mining nonsense has really fucked up the market for people just looking for videocards to play games on. I didn't see how serious a problem this was until I started actually looking to upgrade my videocard. Something I would have done in a day or so its now taking me weeks to decide.

Not sure how they plan to fix this nonsense but I know enough people that are just not buying GPU's because of this crap.
 
Only I'm not espousing left-wing ideology, I'm just asking people to take their politics and fuck off. But whatever.

Your views are very much left wing regardless of whether you think it is or not.
 
Your views are very much left wing regardless of whether you think it is or not.

My views aren't the point -- the point is I don't inject them into every single thread. But that distinction is apparently overly fine in the current climate of hyper-partisanship.
 
For everyone you cant just use your crypto on a card anywhere and buy bread. Well i hate to tell you, but you can https://www.centra.tech/
Unfortunately the transaction fees are making it a valid gripe. Bitcoin is currently failing as a currency and instead is functioning as a value metric. It will be interesting to see which crypto makes it to the point where you can buy lots of things with them with a sane transaction system. Hell, if it goes on long enough, maybe still Bitcoin, just with the lightning network.
 
lol this bitcoin madness is actually going to force me to go Nvidia after using radeons only for about the last 15 years its quite sad.

I refuse to $700 dollars cad for a rx580 which is what I was looking at.

The prices are so stupid i'm about to just say F**k it and pickup a 1080ti i'm going go to be forced into spending that much as might aswell just go straight to the top, I would feel less ripped off then paying $700 for a midrange card.

The mining nonsense has really fucked up the market for people just looking for videocards to play games on. I didn't see how serious a problem this was until I started actually looking to upgrade my videocard. Something I would have done in a day or so its now taking me weeks to decide.

Not sure how they plan to fix this nonsense but I know enough people that are just not buying GPU's because of this crap.

Welp, 1080 Tis are very hard to find as well. And going price on the used market for them right now is about $1000 USD. So yeah, not a good time to be looking for any sort of video card.
 
Bitconnect doesn't even have contact information; no physical address- an untraceable organization.

It hides behind servers in the middle of nowhere, and no one knows who is running the show.
They claim they keep the information private for officers' protection, but that's a convenient cop out used by the whole crypto community, so it was easy for bitconnect to dupe all the fools.

The people who were heavily promoting this shit were filipinos and malaysians, and some dumbass youtubers trying to get referrals.

Most people have enough common sense to see this scam 100 miles away, but some people keep falling for the same shit over and over.
 
Welp, 1080 Tis are very hard to find as well. And going price on the used market for them right now is about $1000 USD. So yeah, not a good time to be looking for any sort of video card.

Where are you people buying your GPU's? I've just been onto most of the biggest retailers in the UK and they all have stock of 1080Ti's. One of them has two models, one with over 10 in stock. Amazon has multiple retailers with stock on Prime. They're £799 each, so about $1000. Is that your complaint? That used examples of the fastest GPU out now are the same price as new? Because that's not that surprising!

RX580's are thinner on the ground, but I can still see brand new RX580's 8Gb. For £349 each, with "plenty" in stock as their site puts it
 
For everyone you cant just use your crypto on a card anywhere and buy bread. Well i hate to tell you, but you can https://www.centra.tech/


I didn't fully read about it, but it sounds like they're just another payment processor.
No different from using my credit card, except much worse than a credit card, without the protections and perks of using a credit card.

naaaaah, I'd rather stick to my credit cards. They work just great.
 
Unfortunately the transaction fees are making it a valid gripe. Bitcoin is currently failing as a currency and instead is functioning as a value metric. It will be interesting to see which crypto makes it to the point where you can buy lots of things with them with a sane transaction system. Hell, if it goes on long enough, maybe still Bitcoin, just with the lightning network.
I dont think its limited to btc, or i think they are adding ripple soon iirc.
 
I didn't fully read about it, but it sounds like they're just another payment processor.
No different from using my credit card, except much worse than a credit card, without the protections and perks of using a credit card.

naaaaah, I'd rather stick to my credit cards. They work just great.
except you can use crypto and not have to pay back the credit card...
What do you want them to do? have each store run a wallet? Putting your crypto into a system that lets you pay with a card sounds pretty seamless to me.
 
Short sighted much. They also cut all government money to help buy health insurance, and removed the invidivual mandate. Meaning everyone is going to see their insurance prices go up, some by at least 10 fold. THEN the tax break that the individuals received starts to disappear while the tax break for the wealthy and the businesses.. is locked in place. Yea... thanks for the raise but my expenses doubled. Gee I'm soo much better off now.

What are you talking about? My premiums doubled BECAUSE of the individual mandate. BECAUSE of Obamacare. Getting rid of the individual mandate is not the issue..
 
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