Post APu0VeSS22FI9f4BQu by AmerLiberal@mastodon.social
(DIR) More posts by AmerLiberal@mastodon.social
(DIR) Post #APtr5IYnvO5z7lOgLo by bitcoinmagazine@bitcoinhackers.org
2022-11-23T15:49:13Z
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#Bitcoin returns over the last 12 years2010: +9,900%2011: +1,473%2012: +186%2013: +5,507%2014: -58%2015: +35%2016: +125%2017: +1,331%2018: -73%2019: +95%2020: +301%2021: +66%2022: -65%HODL ✊
(DIR) Post #APtrPlREGd3OTkc3E0 by simoto@toot.community
2022-11-23T15:52:43Z
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@bitcoinmagazine wtf I was doing back in 2010...😭
(DIR) Post #APtsAqecgxBcGaKSrQ by AmerLiberal@mastodon.social
2022-11-23T16:01:23Z
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@bitcoinmagazine - When something has ZERO intrinsic value, it's remarkable that the price has not dropped to zero - YET. #CryptoScam!
(DIR) Post #APttzG6ESd83cJqPw0 by neglesaks@mstdn.io
2022-11-23T16:21:32Z
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@AmerLiberal @bitcoinmagazine BTC/crypto does not have zero value, but it's fair to say that its general utility value is far lower than at present trading value.
(DIR) Post #APtvufgi622bREqa5Q by AmerLiberal@mastodon.social
2022-11-23T16:30:11Z
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@neglesaks @bitcoinmagazine - Zero underlying value. The price is what people will pay, but unlike government-issued money or the stock of functional companies, there is nothing to back-up the price of crypto other than speculation.
(DIR) Post #APtwcAOBpEjj6nvN9k by AmerLiberal@mastodon.social
2022-11-23T16:35:46Z
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@neglesaks @bitcoinmagazine - Cryptocurrencies certainly have a price on any given day, and they may (or may not) be useful in some way, but they neither have a guarantor (like a government) nor represent an underlying asset, like stock does.
(DIR) Post #APtxA0bWiC02biIeDg by neglesaks@mstdn.io
2022-11-23T16:57:01Z
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@AmerLiberal @bitcoinmagazine Correct; they are not convertible to any other commodity or asset, but they DO represent an expenditure of energy and equipment (capital) in some way, depending on token/network and mining methodology.
(DIR) Post #APtxBPxVvgHVX6Fw4O by neglesaks@mstdn.io
2022-11-23T16:57:26Z
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@AmerLiberal @bitcoinmagazine Correct; they are not (guaranteed) convertible to any other commodity or asset, but they DO represent an expenditure of energy and equipment (capital) in some way, depending on token/network and mining methodology.
(DIR) Post #APtxHM6RBA4vJLGG4O by neglesaks@mstdn.io
2022-11-23T16:58:29Z
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@AmerLiberal @bitcoinmagazine No, the fundamental/underlying value is the cost of production, which is very clearly not zero.
(DIR) Post #APu0VeSS22FI9f4BQu by AmerLiberal@mastodon.social
2022-11-23T17:18:48Z
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@neglesaks @bitcoinmagazine - that is a sunk cost, not a value. Yes, electricity was wasted, but the only thing “produced” was a barrier to entry. One could argue that scarcity by itself creates value, but personally I don’t buy that argument. Things like “fine art” and genuine diamonds and tulip bulbs are also valued for their scarcity, but at least those are pretty.
(DIR) Post #APu0enC4vB3Br4lc8G by neglesaks@mstdn.io
2022-11-23T17:36:24Z
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@AmerLiberal @bitcoinmagazine I realize that you take the contrarian position to BTC et al, and while I am by no means a "fan" of that enterprise, you are (purposefully?) neglecting the utility value that the system has provided to certain demographics.
(DIR) Post #APu3Fa5Mou5Tp7IWDQ by AmerLiberal@mastodon.social
2022-11-23T17:50:09Z
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@neglesaks @bitcoinmagazine - I am not “neglecting” the alleged utility value to certain demographics, I have carefully considered the common claims, and I reject them. I’ll add some references that support my position.
(DIR) Post #APu3MACvQsYlahyJdo by neglesaks@mstdn.io
2022-11-23T18:06:35Z
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@AmerLiberal @bitcoinmagazine Safe us both the bother.
(DIR) Post #APu4ooW3GBAGfU8whk by AmerLiberal@mastodon.social
2022-11-23T18:07:35Z
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@neglesaks @bitcoinmagazine - OK. Have a great day.