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Old 8th November 2019, 03:10 AM   #281
psionl0
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Old 8th November 2019, 04:56 PM   #282
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Originally Posted by Samson View Post
Here is another way of imagining this issue.
If the price of bitcoin drops to 2k US, will you claim that this is completely unrelated to the presence of 2000 lookalikes to choose from.
Just to give this question a more detailed answer, if the price of bitcoin fell and the price of some "lookalikes" rose then that would be no coincidence.

However, that doesn't happen. When the price of bitcoin falls, so does the price of the "lookalikes".
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Old 11th November 2019, 01:37 AM   #283
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Originally Posted by psionl0 View Post
Just to give this question a more detailed answer, if the price of bitcoin fell and the price of some "lookalikes" rose then that would be no coincidence.

However, that doesn't happen. When the price of bitcoin falls, so does the price of the "lookalikes".
I really just watch btc eth and ripple, and have no idea how the latter 2 work, or how much money has been made. I accept it is many billions. But I will always expect them to trend towards zero, because the other 1997 coins will have equally fascinating bios, with a similar outcome going forward.
Is bitcoin like Coca Cola, or Gucchi, no. If the former, Warren Buffet would own bitcoin.
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Old 11th November 2019, 07:49 PM   #284
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Originally Posted by Samson View Post
I really just watch btc eth and ripple, and have no idea how the latter 2 work, or how much money has been made. I accept it is many billions. But I will always expect them to trend towards zero, because the other 1997 coins will have equally fascinating bios, with a similar outcome going forward.
Is bitcoin like Coca Cola, or Gucchi, no. If the former, Warren Buffet would own bitcoin.
Other than the highlighted, I can't make any sense out of this word salad.

You seem to insist that if you divide a finite crypto market by infinite cryptos, you get $0 per crypto.

That just illustrates your abysmal maths. Consider the sequence {1/2, 1/4, 1/8, 1/16, . . . }: This has an infinite number of terms and a finite sum but many of the terms are an appreciable fraction of the total (not zero).

The same is true of cryptos. No matter how many are invented, most will not amount to anything and won't drag money away from the top cryptos.
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Old Yesterday, 01:24 AM   #285
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Originally Posted by psionl0 View Post
Other than the highlighted, I can't make any sense out of this word salad.

You seem to insist that if you divide a finite crypto market by infinite cryptos, you get $0 per crypto.

That just illustrates your abysmal maths. Consider the sequence {1/2, 1/4, 1/8, 1/16, . . . }: This has an infinite number of terms and a finite sum but many of the terms are an appreciable fraction of the total (not zero).

The same is true of cryptos. No matter how many are invented, most will not amount to anything and won't drag money away from the top cryptos.
I accept that zero is an unrealistic valuation, but that is all. Pet rocks are probably collectors' items.
I am looking at the world of coal fired power creating this garbage, and fires engulfing East Australia. I am not alone hoping cryptos implode, and I am certain that no one can ascribe an appropriate value, as they might do for food or shelter.
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Old Yesterday, 11:27 PM   #286
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Originally Posted by Samson View Post
I accept that zero is an unrealistic valuation, but that is all.
I wish I could believe that but no doubt, you will soon go back to your "there are infinite bitcoins so bitcoins have no value" line again as if this exchange never happened.

Originally Posted by Samson View Post
Pet rocks are probably collectors' items.


Originally Posted by Samson View Post
I am looking at the world of coal fired power creating this garbage, and fires engulfing East Australia. I am not alone hoping cryptos implode, and I am certain that no one can ascribe an appropriate value, as they might do for food or shelter.
The inordinate amount of energy used to mine bitcoins around the world is a serious problem. But to suggest that bitcoin is responsible for continuing coal fired power and bush fires is absolutely moronic.

Originally Posted by Samson View Post
I am not alone hoping cryptos implode, and I am certain that no one can ascribe an appropriate value, as they might do for food or shelter.
You are not the only one. The only reason why this thread has gone on churning stale arguments for so long is the number of posters who are desperately trying to talk bitcoin down. Most have gone by the way side as bitcoin continues to defy all doomsday predictions.
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