NoRegretsCoyote
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I've yet to come across a single person that can explain its value in simple terms
which of the bitcoin users here do you think are using it for this purpose?Bitcoin's main use case is for illegal, cross-border transactions at wholesale level.
Probably none. I am talking about use case as a means of payment.which of the bitcoin users here do you think are using it for this purpose?
It's the not understanding it bit that gets me. I see no reason for the increase in value, other than low returns in real assets and excess cash, and no reason for the decline other than a increase in interest rates and a reduction in cash (QE to QT). That tells me that it's a reaction, a bubble.As an asset class it produces no income and has extreme volatility so is of no interest to me.
You should tell https://time.com/6232011/binance-ftx-collapse-crypto/ (Time Magazine) and the FT. They are under the impression that there will be a broader sectoral impact.FTX can fail, and Sequoia can lose their investment. But my self-custodied bitcoin is not at risk from that, nor will it be diluted either to bail them out.
A. 50%And your point is that that last woman could be on her feet until -> ∞ or maybe some time before -> ∞
Would you be confident enough to take a stab at the following:
BTC will never see
A. $20k ever again.
B. $30k ever again.
C. $50k ever again.
I mean if you're using the phrase 'normal service' then my read on that is that you don't think it can hit those numbers, right?
There may well be a sectoral impact, and maybe other investors and companies are somehow related to FTX, but I have no counter-party risk to *any* company, and bitcoin itself has no systemic dependence on any company either.You should tell https://time.com/6232011/binance-ftx-collapse-crypto/ (Time Magazine) and the FT. They are under the impression that there will be a broader sectoral impact.
Good to know. I won't comment on the rest of it - as those views you've expressed previously and have been well and truly thrashed out.A. 50%
B. 75%
C. 95%
Funny how? Because of an assumption you've made? You've identified centralized aspects re. crypto - and when it comes to those centralized parts, the sector has been trying to get regulatory clarity for a number of years already. Anyone that's spent more than 5 minutes researching activity in that respect over the past couple of years knows that.SEC Chair Gary Gensler on FTX fallout: Investors need better protections in crypto
SEC Chair Gary Gensler joins 'Squawk Box' to discuss what crypto exchange FTX's fallout means for potential crypto regulation and investors. For access to li...www.youtube.com
Funny seeing all the crypto bros running around crying out where were the regulators
My problem with Crypto is that I don't really understand it, in that I don't get what its intrinsic value is and I don't think the price Bitcoin trades at is a reflection of any intrinsic value, rather it is a reflection of a speculative bubble as a result of copious amounts of cheap money in a low interest rate environment looking for a return.
That's not to say that is doesn't have an intrinsic value, I just have no idea what it is and why it should have it and I don't invest in things I don't understand.
Or if you were engaged in criminal activity at a big scale and wanted to receive or make a payment. You still face money-laundering controls at the point where you want to transfer it back to fiat currency.Maybe, for an edge case, where someone is living under a despot regime they could get their money out of the country with Bitcoin,
Zero legitimate use case. The price is volatile and retail options for payments are far simpler.but for the rest of us?
From a quick search Revolut had 15 million users as of last year. Bitcoin likely has more users than that.If it was any good, adoption rates would be higher - Revolut a case in point.
Do you use Bitcoin has a means of payment? If so, what for? I'm genuinely curious.I'm a user of both Bitcoin and Revolut, my use-case for each is not the same.
From a quick search Revolut had 15 million users as of last year. Bitcoin likely has more users than that.
So you don't use bitcoin at all then.I use my bitcoin every day as a store of value.
If 65% is not being used doesn't that tell you that it's being held for speculative purposes?Once again you're missing my point, 65% of all bitcoin has not been involved in any transaction in over a year, but it's still serving a purpose.
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