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Celerity

(46,866 posts)
82. No, I did not illustrate your point at all, sorry.
Sun Dec 8, 2024, 03:00 PM
Dec 8

Also, you said:

I just hope you have the stones bookmark this thread and find me the next time the bottom falls out of the crypto market and we SEE who's "right"


Number one, I am a cis-gender female, and as such I do not have 'stones', so you can bin that misogynistic framing that having testicles somehow imparts courage.

There have been a very large number of replies over the last 10 plus years here (as shown by other DUers, some who far pre-date me with my 6 and a half years on DU) who said it was dead, worthless, a scam, a tulip bubble (I have show repeatedly why that is a fatally logic-flawed analogy), etc etc, with many of them exhibiting little no knowledge of how crypto (not just currency, but blockchain tech in general) actually works. Many even preface their doom with 'I do not understand crypto and blockchaim at all' admissions.

Over the course of that decade plus, those doom-casters (whether old school or later-on joiners) have been consistently wrong when you look at the long arc. Over, and over, and over.

Their positings have been shown to be faulty for many years, yet the same projections are just doubled-down upon, then doubled down upon again, and again, and again, in, as I already stated, a Martingale-style fashion. They simply repeat the same thing over and over, and when they were shown to be wrong multiple times, over the span of many years in some cases, they just keep on going, in hope that the next time they will finally become permanently right.

At some point, the doom-casters lose their credibility, over their long runs of predictive failure, yet they know they are dealing with an audience here on DU that is (partially) far too often ready to just accept the endless incorrect claims, as well as giving out pats on the back to those doomsters, as the doomsters are fulfilling that part of the DU audience's preconceptions and wishes. The failed doomster prediction-makers are thus free to just continue the endless double-downing, no matter how many times they are shown to be in error.

Bookmark away.

Recommendations

0 members have recommended this reply (displayed in chronological order):

DU is not the best place to ask RandiFan1290 Dec 7 #1
It's a rip-off Blue_Tires Dec 7 #10
well, I don't know who this "finance guy" is, but his history of the internet lapfog_1 Dec 7 #16
Need some clarification here. LAS14 Dec 7 #35
Excellent Post! One Minor Flaw. ProfessorGAC Dec 7 #52
It could be transmuted by a particle accelerator ThoughtCriminal Dec 8 #75
Fair Enough ProfessorGAC Dec 8 #77
It is the perfect currency for criminals (drug cartels, gun runners, human traffickers, rogue nation states, etc.) waterwatcher123 Dec 7 #54
Thanks!! This looks like the kind of thing I've been hunting for for years. LAS14 Dec 7 #32
They likely have a very large endowment Redleg Dec 7 #49
You warned me about asking on here. TNNurse Dec 7 #62
The use of blockchain in Crypto LAS14 Dec 11 #86
It's a way to... 2naSalit Dec 7 #2
The way I understand it, bamagal62 Dec 7 #3
All money is 'made up'. Voltaire2 Dec 7 #14
That's the thing... BTC is NOT used as a token of exchange for anything other than money laundering by tha VAST majority Happy Hoosier Dec 7 #33
It is used, to a very limited extent, as an exchange token. Voltaire2 Dec 7 #38
Exactly. Happy Hoosier Dec 7 #44
I know that. Thx. bamagal62 Dec 7 #73
Made up money as opposed to the Drachma... Alephy Dec 7 #19
Your observation of it as a STORE of value is good one. Happy Hoosier Dec 7 #34
"Bitcoin is new" dawg Dec 7 #60
Yes, it is really, really new Alephy Dec 7 #63
Bitcoin is an antiquated energy-wasting protocol. If the world was ever serious ... dawg Dec 7 #66
Sure Alephy Dec 7 #67
It's the currency of the future ... dawg Dec 7 #69
My apologies Alephy Dec 7 #20
Not sure, but if I recall correctly, when you make a reply, the "powers" button below it becomes active for you Attilatheblond Dec 7 #53
Thank you very much Alephy Dec 7 #56
Just passing along what someone else showed me here Attilatheblond Dec 7 #71
It's made-up money, but its primary benefit is that it's untraceable. Lonestarblue Dec 7 #28
This message was self-deleted by its author Chin music Dec 7 #31
Scam, well known. Passages Dec 7 #4
Molly White does a great job of tracking this scam . . . hatrack Dec 7 #5
The perferred method of exchange for criminals the world over. paleotn Dec 7 #6
It's more like timeshares for the new millennium. Hugin Dec 7 #7
Crypto is an experiment in harnessing perception as wealth. Frasier Balzov Dec 7 #8
DU is probably the worst possible place to discuss BTC that I have seen. Years ago, a DU poster put up dozens of Celerity Dec 7 #9
I'll never trust any money I cannot physically touch Blue_Tires Dec 7 #13
Do you use debit and credit cards? Are you paid via EFTs? Celerity Dec 7 #17
I do use debit and credit cards, TNNurse Dec 7 #24
Actually blockchain - the tech behind bitcoins- Voltaire2 Dec 7 #39
Thank you for beautifully illustrating my point Blue_Tires Dec 8 #81
No, I did not illustrate your point at all, sorry. Celerity Dec 8 #82
Like I said before, you're only helping Elmer and Donnie Blue_Tires Dec 8 #84
I do not mine BTC or any other crypto currency, nor do I trade in BTC or any other crypto currency. Celerity Dec 8 #85
It's not strictly true that tulips can't endure. LisaM Dec 7 #37
Yes, but you are now introducing both labour and non-fungibility. Celerity Dec 7 #43
I appreciate your commentary on this topic Alephy Dec 7 #57
thanks Celerity Dec 7 #58
Precisely, I have been in and out of Bitcoin since it first JCMach1 Dec 7 #61
thank you, and OUCH! (the 30 deleted BTC) yikes Celerity Dec 7 #64
I was treating it as an experiment... So I try to laugh JCMach1 Dec 7 #65
well, at least you didn't spend 10,000 BTC on 2 pizzas................ (worth roughly 1 BILLION USD now) Celerity Dec 7 #68
Thank you all. TNNurse Dec 7 #11
It's closer to a ponzi scheme Blue_Tires Dec 7 #12
It's a great way to launder money, too. GoCubsGo Dec 7 #22
IMO, the rise of Bitcoin (and maybe other crypto) is being fueled by hopeium nitpicked Dec 7 #15
The answer is Yes. Wonder Why Dec 7 #18
Mostly yes. Voltaire2 Dec 7 #21
The European Tulip Price Collapse. Jacson6 Dec 7 #23
Fatally flawed analogy, and one that has been trotted out here continously long before I joined DU in mid-2018, as Celerity Dec 7 #40
Excellent comparison. Thank you for that. BannonsLiver Dec 7 #45
And the South Sea Company Amanita Pantherina Dec 7 #55
It's not quite. usonian Dec 7 #25
I never understood what it is. claudette Dec 7 #26
Crypto is electronic barter wrapped around a restrained supply of medallions bucolic_frolic Dec 7 #27
It's a game of hot potato Happy Hoosier Dec 7 #29
Crypto-gypto oasis Dec 7 #30
All currency not based an a physical commodity, but traded in markets are a scheme and a process of continual ... marble falls Dec 7 #36
Have bought and held BTC (only) for a couple years Wavelight Dec 7 #41
Well, I will be 80 in 5 years so I doubt that will be my concern. TNNurse Dec 7 #48
I regret my timidity with it... Mark.b2 Dec 7 #70
It's a threat to the environment. ... littlemissmartypants Dec 7 #42
Yes Blue Full Moon Dec 7 #46
Money laundering, tax evasion, medium for illegal purchases. DJ Synikus Makisimus Dec 7 #47
A speculative mania-- really an improved version of the Tulip mania andym Dec 7 #50
The big money return in crypto is::: keithbvadu2 Dec 7 #51
Very poor way to launder money as BTC has an open ledger JCMach1 Dec 7 #59
Many places take Bitcoin as payment..... Who accepts Trump crypto as payment? keithbvadu2 Dec 7 #72
I've never encountered one place that takes crypto. If I go to the grocery store I can't buy a gallon of milk with it. Vinca Dec 8 #78
I have a Visa debit card through Coinbase RandiFan1290 Dec 8 #79
And the worst part is ... AncientOfDays Dec 7 #74
Laundering Money ._. Dec 8 #76
Plot to crash economy and make US taxpayer pay for it. Kid Berwyn Dec 8 #80
Some fucking crypto is easier to track that others. Bitcoin leave a clear trail. Monero fucking does not. Very different SoFlaBro Dec 8 #83
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