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24th November 2020, 08:24 AM
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#801 |
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Skeptical about skeptics
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 16,764
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19350.
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__________________
"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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27th November 2020, 03:02 PM
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#802 |
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Quester of Doglets
Moderator
Join Date: Dec 2009
Location: Sunny South Australia
Posts: 2,904
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17,076
Wheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee ee! |
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__________________
We would be better, and braver, to engage in enquiry, rather than indulge in the idle fancy, that we already know -- Plato. |
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27th November 2020, 03:05 PM
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#803 |
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Quester of Doglets
Moderator
Join Date: Dec 2009
Location: Sunny South Australia
Posts: 2,904
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__________________
We would be better, and braver, to engage in enquiry, rather than indulge in the idle fancy, that we already know -- Plato. |
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27th November 2020, 10:16 PM
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#804 |
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Philosopher
Join Date: Jun 2008
Posts: 5,158
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Originally Posted by novaphile
Some call it 'digital gold', but it isn't really a commodity - and with this volatility it's unlikely to see widespread application as a currency. So what's left? Speculation. Bitcoin is ideal for making money out of nothing, if you are skilled or lucky enough to beat the other fools. They keep putting money into the pot thinking they will all be winners, but as Bitcoin doesn't create wealth it's a zero sum game. For every 'investor' who gains, others lose, and the price goes up and down according to what they collectively imagine it is worth. Bitcoin's volatility is a hindrance to its original purpose, but speculators love it. The only thing that would damp their enthusiasm would be if it became stable, and then they would have to move on to something else. Some other cryptocurrencies are more useful and some are more volatile, but none have 'gone to the Moon' like Bitcoins has. Why is this so if they are 'technically' superior? Two reasons:- 1. less 'brand recognition' and lower loyalty. Bitcoin is the original, no others can compare! 2. They haven't got as much money in the pot. Even though you could make just as much trading in other 'coins', Bitcoin has the psychological edge because each one is 'worth' so much. Apart from that it's got nothing, but psychology is everything in this market... |
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We don't want good, sound arguments. We want arguments that sound good. |
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27th November 2020, 10:23 PM
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#805 |
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Skeptical about skeptics
Join Date: Sep 2010
Location: 31°57'S 115°57'E
Posts: 16,764
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__________________
"The process by which banks create money is so simple that the mind is repelled. Where something so important is involved, a deeper mystery seems only decent." - Galbraith, 1975 |
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27th November 2020, 11:34 PM
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#806 |
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Illuminator
Join Date: Jun 2012
Posts: 3,458
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New article will be coming out Sunday about Coinbase. Something about their treatment of Blacks and allegations of racism at Coinbase.
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__________________
“Racism is evil, and those who cause violence in its name are criminals and thugs, including the KKK, neo-Nazis, white supremacists, and other hate groups that are repugnant to everything we hold dear as Americans.” August 14, 2017 President Donald John Trump |
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