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"they lacked fundamental knowledge"... you think people should get fundamental knowledge ? on _bitcoin_ ? It is fundamentally worth $0. The only knowledge I tr
by throwaway803453 6y ago
"they lacked fundamental knowledge"... you think people should get fundamental knowledge ? on _bitcoin_ ? It is fundamentally worth $0.
The only knowledge I try to spread is correcting anyone who uses the word "invest" and recommend the proper words of buy, speculate, or gamble when it comes to cryptocurrencies. I guess I will add "fundamental" too since I think you meant technical analysis. But even that implies brains when it really is just voodoo unless you are an influencer.
- kralos 6y agoUSD, EUR etc are also "fundamentally worth $0". Fiat currencies and crypto currencies are just a median for representing value for real goods and services. What's unique about crypto currencies is the distributed method of transacting and therefore the inability for them to be regulated. The whole financial industry, is fundamentally a massive waste of humanity's resources. Fiat currencies are regulated, regulators are a target for bribery, deals are made etc... Cryptos are a massive waste of electricity. Decentralization is a great way to curb corruption and restore a natural economy but we need to solve the electricity problem. The electricity problem came from the mechanism chosen to "fairly" distribute the initial pool of cryptocoins based on mathematical effort.
- recursive 6y agoWell USD is fundamentally worth $1. Really the most fundamental of all.
- renjimen 6y agoWhat’s $1 worth? It hasn’t represented a physical asset since Nixon.
- recursive 6y agoSeparate question. I was responding to a question about the value of things as measured in currency. $1 is worth $1, tautologically. If you happen to believe $1 has no worth, just send me all your dollars. I can use them. I'll send you a loaf of bread, which you can eat to sustain life.
- renjimen 6y agoNearly everyone believes $1 is worth something so it's not in my interest to give you $1, particularly with a snarky response like that. Dollars are not actually a measure of any physical thing, unlike metres or whatever. They represent what we perceive as worth. That only exists in our heads.
- usaar333 6y agoCurrencies can be valued based on interest rate differentials. Bitcoin is a bit underdeveloped there.
- cosmodisk 6y agoBy fundamental in this cas I meant general understanding about how it works and how shady the ecosystem is,with endless pump and dump drummers,random kids selling 'tips',etc. An average person, with absolutely zero information advantage is losing the moment they buy it hoping it will bring fortunes.