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I'm really tempted to buy some ETH at this point, and I'm a crypto skeptic who owns nothing. Smart move?

by mattgreenrocks 4y ago

bradjohnson 4y ago
If red hasn't come up in a while on a roulette table, is it a smart move to bet on red?
- ipaddr 4y ago
  It's about 50-50 (minus 0 and double 00) regardless
  - bradjohnson 4y ago
    I'm saying that any knowledge you think might tip the scales in one direction is inconsequential. You will lose money or gain money depending on the will of those with the most stake. It is never a "smart move" to invest in crypto. It is gambling. Maybe get a lady friend to blow on your mouse before you click buy.
    - Mistletoe 4y ago
      Never a smart move? It's been the best performing asset like clockwork 3 out of every 4 years since inception, in time with the Bitcoin halving cycles. https://twitter.com/TimmerFidelity/status/1653114784257040384 https://twitter.com/TimmerFidelity/status/165311478425704038...
      - bradjohnson 4y ago
        There is no basis for the increase in value. Crypto at large is a Ponzi scheme where the increase in amount of suckers buying into it is the sole evidence given for its usefulness. Every stalwart crypto supporter talks out of both sides of their mouth every time they are questioned about the actual utility of crypto. Is it the future of money (AKA useful liquidity) or is it a great investment that can only increase in value (AKA speculative deflationary asset)? It cannot be both and it is certainly not useful as money. Makes you wonder why DOES the line go up?
        ipaddr 4y ago
        In fairness share prices have no basis aside from supply and demand.
- mattgreenrocks 4y ago
  Fair enough. Thanks!
tmpz22 4y ago
Yeah you'll get rich quick do it - I would suggest paying for some Udemy/Patreon courses to do it effectively though. Oh and you can pay for private discords for the inside scoop
Mistletoe 4y ago
I'm not a good person to ask since I've been drinking the crypto kool-aid since I was an Ethereum miner long ago and now staker. In a world of rampant money printing and inflation and artificial everything, yes I think Ethereum will be useful for a very long time. https://ultrasound.money/ https://ultrasound.money/
- bradjohnson 4y ago
  Useful how? Linking a real-time deflation chart doesn't exactly scream "useful".
  - Mistletoe 4y ago
    Freedom from monetary debasement. An attempt for the first time in human history to have a global currency not follow the "money printing, debasement, start a war to try and fix it/civilization collapse" cycle. https://fred.stlouisfed.org/series/BOGMBASE https://fred.stlouisfed.org/series/BOGMBASE https://en.wikipedia.org/wiki/Debasement https://en.wikipedia.org/wiki/Debasement
    - bradjohnson 4y ago
      There's no such thing as monetary debasement for bank notes as there is no intrinsic value for the physical dollar. If you're saying that inflation in general is bad for the economy, I would encourage you to read this: https://www.britannica.com/money/inflation-vs-deflation https://www.britannica.com/money/inflation-vs-deflation

I'm really tempted to buy some ETH at this point, and I'm a crypto skeptic who owns nothing. Smart move?

bradjohnson 4y ago

If red hasn't come up in a while on a roulette table, is it a smart move to bet on red?

ipaddr 4y ago
It's about 50-50 (minus 0 and double 00) regardless
- bradjohnson 4y ago
  I'm saying that any knowledge you think might tip the scales in one direction is inconsequential. You will lose money or gain money depending on the will of those with the most stake. It is never a "smart move" to invest in crypto. It is gambling. Maybe get a lady friend to blow on your mouse before you click buy.
  - Mistletoe 4y ago
    Never a smart move? It's been the best performing asset like clockwork 3 out of every 4 years since inception, in time with the Bitcoin halving cycles. https://twitter.com/TimmerFidelity/status/1653114784257040384 https://twitter.com/TimmerFidelity/status/165311478425704038...
    - bradjohnson 4y ago
      There is no basis for the increase in value. Crypto at large is a Ponzi scheme where the increase in amount of suckers buying into it is the sole evidence given for its usefulness. Every stalwart crypto supporter talks out of both sides of their mouth every time they are questioned about the actual utility of crypto. Is it the future of money (AKA useful liquidity) or is it a great investment that can only increase in value (AKA speculative deflationary asset)? It cannot be both and it is certainly not useful as money. Makes you wonder why DOES the line go up?
      - ipaddr 4y ago
        In fairness share prices have no basis aside from supply and demand.
mattgreenrocks 4y ago
Fair enough. Thanks!

tmpz22 4y ago

Yeah you'll get rich quick do it - I would suggest paying for some Udemy/Patreon courses to do it effectively though. Oh and you can pay for private discords for the inside scoop

Mistletoe 4y ago

I'm not a good person to ask since I've been drinking the crypto kool-aid since I was an Ethereum miner long ago and now staker. In a world of rampant money printing and inflation and artificial everything, yes I think Ethereum will be useful for a very long time. https://ultrasound.money/ https://ultrasound.money/

bradjohnson 4y ago
Useful how? Linking a real-time deflation chart doesn't exactly scream "useful".
- Mistletoe 4y ago
  Freedom from monetary debasement. An attempt for the first time in human history to have a global currency not follow the "money printing, debasement, start a war to try and fix it/civilization collapse" cycle. https://fred.stlouisfed.org/series/BOGMBASE https://fred.stlouisfed.org/series/BOGMBASE https://en.wikipedia.org/wiki/Debasement https://en.wikipedia.org/wiki/Debasement
  - bradjohnson 4y ago
    There's no such thing as monetary debasement for bank notes as there is no intrinsic value for the physical dollar. If you're saying that inflation in general is bad for the economy, I would encourage you to read this: https://www.britannica.com/money/inflation-vs-deflation https://www.britannica.com/money/inflation-vs-deflation