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Here's effectively what you said, edited for information: > Every bit of evidence is that the crypto boom has crashed to Earth ... > Yet somehow BTC is still

Here's effectively what you said, edited for information: > Every bit of evidence is that the crypto boom has crashed to Earth ... > Yet somehow BTC is still trading at close to historic highs. > ... if it were remotely a functioning market or were at all "real", it would be trading at a tiny fraction of that amount. The fact that it still holds is the best demonstration of how illusory the whole sham is. Which, as others have interpreted, is to say that the valuation (second sentence) is at odds with your perceived reality (first sentence). Therefore (third sentence) it's a "demonstration of how illusory the whole sham is". Those are your words. You can't just alter reality to make them out to mean something else.

llm_nerd 3y ago
What reality did I alter? Bitcoin's current value is *completely* irrational and absolutely unjustified. When it had some prospective future, sure some tenuous argument could be made, but now it's basically NFTs -- people collecting worthless things, with so little real (not wash) trading that for a while the illusion holds on. That's the sham. In the same way that GameStop or BedBathandBeyond didn't become retail powerhouses because a bunch of WallStreetBets sorts aped it. You seem to be under delusions that a given niche market is demonstrative of much at all. Crypto was the future. Now it's, for all intents and purposes, dead outside of crime, but as long as there are HODL sorts it can keep up the pretend value.
- jrm4 3y ago
  A lot of "real" companies are investing in it; which by definition makes it no better or worse than ANY OTHER SPECULATIVE THING. Basically "that's, just like, your opinion, man."
  - llm_nerd 3y ago
    What real companies? Tesla did at the spurring of Musk, and then quietly dumped all of it. A few other "investment" companies occasionally make some statement that amounts to a pump and dump. >it no better or worse than ANY OTHER SPECULATIVE THING Bunching everything together as "speculative" doesn't somehow make them equal. Buying land is not the same as buying an NFT. Buying shares in a bank is not the same as buying Bitcoin. Bitcoin's entire history has been crime and fraud. It temporarily duped the mainstream, but having conned main street it has returned to its crime roots.

llm_nerd 3y ago

What reality did I alter? Bitcoin's current value is *completely* irrational and absolutely unjustified. When it had some prospective future, sure some tenuous argument could be made, but now it's basically NFTs -- people collecting worthless things, with so little real (not wash) trading that for a while the illusion holds on. That's the sham. In the same way that GameStop or BedBathandBeyond didn't become retail powerhouses because a bunch of WallStreetBets sorts aped it. You seem to be under delusions that a given niche market is demonstrative of much at all. Crypto was the future. Now it's, for all intents and purposes, dead outside of crime, but as long as there are HODL sorts it can keep up the pretend value.

jrm4 3y ago
A lot of "real" companies are investing in it; which by definition makes it no better or worse than ANY OTHER SPECULATIVE THING. Basically "that's, just like, your opinion, man."
- llm_nerd 3y ago
  What real companies? Tesla did at the spurring of Musk, and then quietly dumped all of it. A few other "investment" companies occasionally make some statement that amounts to a pump and dump. >it no better or worse than ANY OTHER SPECULATIVE THING Bunching everything together as "speculative" doesn't somehow make them equal. Buying land is not the same as buying an NFT. Buying shares in a bank is not the same as buying Bitcoin. Bitcoin's entire history has been crime and fraud. It temporarily duped the mainstream, but having conned main street it has returned to its crime roots.