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If you have a better idea what it's worth than the market does, you should be out there making money through arbitrage instead of making snarky comments on the
by throwup 4y ago
If you have a better idea what it's worth than the market does, you should be out there making money through arbitrage instead of making snarky comments on the internet
- deleted 4y ago[deleted]
- Barrin92 4y agoin the famous words of Keynes, the market can stay irrational longer than you can stay solvent. I fully believe the intrinsic value of the entire crypto sphere is zero dollars, what I'm less sure about is when its followers are going to figure that out. When you're betting on changes in market price you are betting on the beliefs of others about that price, the beliefs about those beliefs etc., not the intrinsic values of goods or services. (another important insight from the economist)
- russelg 4y agoYou think there's no intrinsic value to decentralized currencies?
- Tesl 4y agoGiven the environmental cost I'd say that the value of bitcoin is quite literally negative. 0 is generous.
- Barrin92 4y agoprobably not except for crime which seems to be the only place where currencies like that have tangible benefits. Everywhere else you can replace a blockchain with a database and your system is probably 50x faster and simpler. A trustless system where you can lose your entire live savings because of one bad line of code with nobody to roll the transaction back is useless