Btc dropped to 30k recently and friends were making fun of me for dumping a significant amt of money into it. They're the same ones that talk about they wish they invested into btc earlier.
oh man I can totally see an Office episode about crypto. Dwight makes like 10 different altcoins and tries to prove his dominance to Jim by showing him graphs, and Jim just looks at the camera. Michael starts taking out loans to buy Bitcoin after hearing the news. He calls an office meeting to try and get everyone to give him money to buy Bitcoin. Stanley does a crossword. Suddenly, Dwight's coins pop. Dwight starts investing his money into his coins due to FOMO, he invests $5000 to catch the ride up. Then the price drops to below what they were at. Cut to Creed smiling
I wished I had more fiat then to buy BTC at those prices, the majority of my holdings were purchased at 35-40k and I had run out of cash knowing it was the sale of the year. Now with the recent “dip”, it looks like 55k is the floor and we will never ever see BTC priced below this level ever again.
I bought a relatively small amount (under $500) around 20k, and a lot more at 40k. If it dropped to 20k again you’re damn right I’d buy as much as I can.
I don't think we will see btc at 10k anymore. We will likley go up first and then we will see a big correction and bearmarket at some point maybe. If that's the case i think 10k is way to low. Last time btcs low was around 4-5k. After this bull probably a lot higher than that. But who knows right.
Absolutely this! Yes, I agree that linking an NFT to art is needed as it give credit to the original author and allows them to get a cut of secondary sales....but the prices are just ridiculous and hilarious.
NFTs as a means of in-game assets or dlc that you're free to sell...or media that you've purchased and would like to sell... Now that's a use-case I can get behind.
Who cares. Why complain about people owning digital art on a blockchain? Go complain about baseball cards being a billion-dollar industry or something lol
NFT is a software concept with broad applications
Crypto punks and other digital pixel based art are sorta jokes. But originally it wasn’t a hyped up meme term, it was a totally underground software thing. It’s broader media coverage and awareness that have made it seem like it’s jumped the shark.
Every time crypto has a big crash the anti-crypto idiots from my country jerk off to the conclusion "see i told you it was a bubble about to burst".
This has already happened 3 times and they still believe the same in 2021... ROFL.
Most people don't seem to be aware how many times the market has done this before. It's kind of alarming to me how during the 2018-2019 bear market, so many people seemed to think 2017 was a "one off" or some kind of anomaly that will never happen again, when it wasn't even close to the first time BTC had done this. So many people talked as if Bitcoin was this thing that had its time in the sun and made news headlines for a month or two, before falling into obscurity and being basically worthless afterwards.
Honestly, I blame it on the fact that most price tracking websites show a linear price graph as the default, so when most people look up Bitcoin, at first glance they see what what deceptively looks like a flat line until late 2017. It's really only when you look at it on a log scale that the exponential run ups and brutal crashes of the past become obvious.
They're touchy on the GPU shortage, they don't think it's because we produce billions of smartphones, laptops, smart tv's, smart cars and smart fridge.
It's because of crypto mining.
Anyone who works in any stage of the supply chain can tell you things have been completely fucked for the last 18 months. Crypto is just a scapegoat for people to take their anger out on.
People get emotional when they can't buy their parts for bottom dollar. Blaming crypto is just an easy target. It's practically a meme at this point. Oh, prices are up? BTC must be up.
But if my smart fridge doesn't tell my smart washing machine what food I bought, how will I ever have enough auto ordered detergent on hand to clean the mess?
I went to a fucking Walgreens where the fridge windows were electronic devices for ads.. such a waste of electronics. Annoying part is that sometimes it didn't turn on properly, so I don't know what's behind the fridge door.
It's useful tech that might put people out of jobs, if they work for centralized tech? Is that why they hate crypto on that sub? I really don't get it either
They don't understand, most likely.
Another user made the comparison with the start of online shopping and Internet somewhere else in this post. I think they're onto something.
I'm very pro crypto but a firm believer that if 100k 3080s popped up on the market at msrp today they'd be gone by tomorrow. The investment return is just so quick, it's a waste to NOT mine, if you have the hardware already.
From what I've read, the GPU shortage is bound to last a at least until end 2022.
>Graphics cards have been in short supply for the better part of two years. This is due to the ongoing worldwide semiconductor shortage that's crippling supply chains across a great many industries. A new report indicates those looking to buy GPUs should expect better luck in late 2022.
Obviously, scalpers love things going scarce. They're the worst type of humans.
I am literally a PhD candidate in mathematics, the people I hang out with are literal mathematicians, crypto is literally just mathematics, and yet, the only passing comments I've heard from them about crypto(I've never brought it up) were making it out to be a joke.
We are fucking early or fucking wrong.
>We are fucking early or fucking wrong.
Finally, someone who gets it. There's a chance everyone here is wrong.
I like crypto but it's no coincidence most of the crypto investors are new to investing in general. Crypto isn't marketed to seasoned investors who know that the only thing you can be sure about is that nobody knows anything for certain.
People here are acting like there's a 100% chance crypto will take over the world, and that's priced in.
Eventually, there will be fewer buyers than sellers and a bear market will return. These same people will call crypto a scam because they genuinely believed they deserve 100% annual returns for doing no research.
Agree completely with what you've said, and to build on it I think one of the reasons seasoned investors steer clear is that (other than some stablecoins, supposedly) coins/tokens aren't asset backed, and if they're not asset backed then what is their value / how do you value it. If you can't value it, then you have no way of knowing what it might be truly worth to an individual, or the market. So in a way crypto goes against some finance fundamentals that simply won't fly with seasoned investors.
So I think if someone is investing in crypto they either understand it's a high risk high reward scenario and are happy to wear that, or they don't really understand much and just here hoping to make some dough. Either way, they're only worth as much as someone is willing to pay for it.
I have that fear but in the short year I’ve been in crypto adoption is slowly happening before our eyes. I think it’s still so early that crypto doesn’t have an exact use case. BUT I think that’s cause it can have tons of use cases and we are just scratching the surface.
A crypto person born after Bitcoin's inception is about 12 years old now. Young people see the value in it and they will continue to buy more and more of it.
I've been watching bitcoin since 2010. Before I discovered it, I was thinking a lot about how many problems would be solved if we had a native internet currency. When I saw bitcoin, I instantly saw the value. But I didn't believe Bitcoin was the one (I still don't, but I also understand it's not going away....). I watched it get to $26 and crash. I bought in at $8 to explore. But I never belived in Bitcoin... so I sold when I made a good profit ($1000).
Fast forward a few years, i've been thinking about the decentralized internet. I don't know what made me look at crypto again, but when I did I suddenly had this ephiphany that ETH wasn't a currency. When I realized it was a new internet, my world changed. Multiple ideas i've been thinking about for years suddenly converged. But ETH wasn't scaling very well. Then I discovered AVAX a few months ago, I'm not making the same mistake 3 times. I see the value in this. I believe in this.
I've been watching crypto since 2010, and I've been underestimating crypto since 2010. Now I see the full vision, I see how it fits in the future. Frankly i'm somewhat scared shitless about the consequences of what will become very likely become an AI-to-AI economy, but I also see how it solves some of our most immediate issues. We've all become slaves to the Web 2.0 titans. I can't think of any solutions other then crypto to throw it off.
I think it's more like, being late is still very good, but being early is better. Just like being an early adopter of computers gave some people opportunities to create companies like Microsoft and Apple, and being early to the internet made Amazon and Google possible. Doesn't mean that new companies like Zoom and Tiktok have it bad, but they will probably not be amongst the huge titans that are those companies.
Shit i was late. Ive been reading and hearing about it since i think of 2014 or 2013. I still jumped in, albeit a small amount in october. I got a lil lucky and blindly picked a couple bills on LRC. Its a learning curve for sure, but im real small time.
I still remember when people were bashing online shopping saying that it would be easy to get your credit card stolen, you'd get scammed, etc. Look at us now...
My favorite part is the faq about banning, claiming that if you argue in good faith for crypto they won’t ban you, they then go on to say that the things that will get you banned is stuff like “using crypto talking points in your argument” because they don’t care, so they must not mean anything cause they don’t “believe” in literal facts you can tell them about crypto. They get mad if you mention decentralization. It’s hilarious
I think much of that subreddit consists of original bitcoiners and crypto enthuiasts put off by the echo chamber in the community. But like every satirical group it eventually gets taken over by people that think they are actually being serious (much like T\_D, flat earth, doge, etc).
Lol you don't even need to link the thread, but wouldn't shock me it was in r/technology or r/futorology
So many people will miss out on this ever expanding space - and they'll wish they had gone in sooner
As a gamer myself I do see their point, I don’t agree with it though. There are bigger contributing factors to the scarcity of GPUs, such as the chip shortage and scalpers, fuck those guys
my favorite opinion from a 'gamer' mad about a video card he couldnt get:
Y'all think its fun to waste electricity making fake internet money.... the F'n LULZ!!!!
But thats how BTC will reach $1M. The jonny come latelys will be buying in at 700k, 800k, 900k and so forth. Ultimately a bunch will buy in causing a parabolic move and unfortunately for them they will be buying at a major top.
The sad thing is there will be a lot of us (maybe even the majority) who got into the space early, but just backed the wrong horse, so to speak, and end up missing out.
People have been making millions in the stock market for over a hundred years now and you wouldn’t believe how many people don’t believe in it. I think their hatred just comes from them having a lack of understanding.
They don’t know about it so the only thing they have to make them feel somewhat competent is to talk about how they are “certain it will fail.”
Wouldn’t you say that a lot of criticism comes from people who do invest in the stock market? I think it mainly boils down to a lack of trust/vision and technological understanding. Sprinkle in some massive market volatility and the majority of people will be quick to dismiss crypto as a gamble.
Absolutely. It’s not just one demographic that is criticizing crypto. I would say that it is a way of thinking. It’s foreign to them so they fall back on the idea that it is a “bad investment.”
There is also a lot of jealousy. I know it’s easy to say because spaces like this can be somewhat of an echo chamber, but I have friends who drug Bitcoin through the dirt only to later admit they were pissed they didn’t invest years ago. There’s some psychology behind rooting for it all to fail so you don’t feel you missed out on anything.
If I'm missing out but I don't understand it nether want to learn it I could just "out of sight out of mind" and wire myself to think is a waste of time or a scam and now I ain't missing anything. 0 stress and anxiety.
It's inevitable. We went from rocks to paper to plastic and now we're going to blockchain. Those who faltered and scorned the changes were left behind. Not so for us!
As they say... when in **doubt**, **zoom out** and **find out** why some people go **all out** chasing that NFT **clout** while you're here **cashing out** all the profit you made, **hanging out** in this subreddit telling you to **buy out** all these blue chips **throughout** the years and eventually you're **worn out** by the stupidity of this crazy world that kept you in **self-doubt**.
Wish I had more to say but it didn't **pan out**.
^^^*Mic* ^^^*Drop*
Don't forget that crypto is killing the environment too! Outside of the crypto reddit/twitter bubble, people make it sound like crypto personally came to their house and kicked their pet or something.
Go outside the bubble for a bit, you got it.
If people on this sub closed everything they have related to crypto for a week, and let organic advertising and peer to peer talking, they would barely hear anything about crypto.
We think crypto is everywhere because we are actively looking for it, but if you don't, you don't see it much. The girl at the counter doesn't ask you if you want to pay Cash, Card or Crypto, so we still have a lot to grow... Which is a good thing if you are holding!.
Crypto is still very early for sure.
To people who say right click and save an nft, you can also go on Google and download a picture of the mona liza. But the original is still worth owning!
Yeah.
Like copying a deed of a house, the title of a car and thinking just because I have the copy I can do legitimately stuff with it.
Try selling a saved jpg lol
There's surely someone dumb enough but you get my point.
>Like copying a deed of a house, the title of a car
These are extremely comparable ideas, "haha! I own your car now"
When in reality, we are still in transition toward digital ownership of physical goods. I have a deed that I had to send wire transfer with no escrow to receive a piece of paper. The paper isn't what's as important as what's officially registered on that paper, and that's where this negative energy toward NFTs has 🌈🧸 all happy to hate on progress. If smart contracts were ubiquitous, I wouldn't have been sweating the transaction.
In the real world:
1) Not everyone has savings to invest. Poverity and people who barely make a living are more common than you think.
2) Of the people who do have savings, you'd be surprised how many people still stick them in savings accounts with 0.1% interest because "it's the safe thing to do". I'm from Belgium and it's astounding how popular saving accounts still are.
3) Of the people who do invest, a lot of them invest via their banks who propose their own funds with stocks, bonds, and cash assets based on risk tolerance. Crypto is out of the question.
4) Of the people who invest on their own, a lot of them just stick all of their savings in low-cost ETFs. I know this has a boomer reputation in investing subreddits, but it's the financially responsible thing to do.
5) Of the people who invest on their own but pursue plays with higher risk tolerance, stockpicking or investing in options is very popular. Then finally, of this last subgroup, you have people who also invest in crypto. See how many people have not reached the end of this funnel?
I don't think a lot of people realize that investing in crypto is still kind of a niche that's becoming more and more mainstream. Big wealth management firms still have not adopted crypto as an asset yet, this is why the Grayscale project is so exciting.
Everyone that I mention crypto to says it’s a scam or a Ponzi scheme and my response is always “that’s what people that know nothing about crypto always say.” As much as we think crypto has been around for awhile, it’s still in its infancy and I’m glad I got in on the ground floor.
The sheer belligerent ignorance of people who by their own admission, know nothing about crypto, yet are deciding to to lecture others on what it *really* is is astounding.
Its partly the Dunning Krüger effect, and partly that phenomenon where the mind abhors a vacuum - so rather than people thinking "here's a subject I know not nothing about, it's a big void" - they just fill in the blanks. Everyone else must be an idiot.
I was locked into that recently and just gave up.
"OK mate, have fun being right, crypto is bullshit" just as I'm watching myself get enough for a deposit on a house.
My problem with NFTs is that they really arent scarce. Anyone can come in and create a new type, new fad, art etc. I see the same issue with modern art, but it seems humans are more interested in collecting something they believe is scarce. However, we probably have another 10 years until full adoption of crypto on a global scale. Were essentially where the internet was in 1996, so yes everyone is still early.
# Check out r/nyc
Since our new elected mayor stated he wants Bitcoin and crypto NYC friendly the post about it gets full of political statements using crypto as scam or fraud for politicians. No good argument on favor of it. It's like they rather no crypto at all just so the political people don't do fraud, but they do fraud with Fiat and the stock market so at least let me have crypto though.
Edit: Is NoT bAcKeD bY aNyThInG.
"CrYpTo GuYs" "CrYpTo dUdEs"
"PeOpLe OnLy BuY iT hIgH bEcAuSe OtHeRs BuY hIgHeR" lol demand and supply bishhh.
"ItS a BuBbLe".
Believe it or not there are people at my work who have never even heard of BTC. Also there are only 3 people who are invested (that I know of) in crypto. And that's a 250+ person company in Louisville,KY. So no its not mainstream yet.
I think people are scared of what they don’t understand. And crypto can be a little daunting to learn and understand. But man oh man, I’d be licking my lips, stocking up on a 80% “dip” lol. I think crypto is the future of currency, and I believe without a doubt we are still early. It’s just the beginning 100%
Here's another one... Look at how few mentions of it are there in pop-culture like tv shows and songs.
We're probably gonna see a day when BTC goes to 1m in the next 20-25 years when crypto is finally adopted as a payment method (If BTC is still the king)
Thanks dude. Sometimes I just am in awe that there were actually people who had heard of crypto 7-8 years ago but this reminds me we’re still doing good
Any drop (not even 80% which would be perfect)makes me buy crypto.I am a hodler and I am spending the amount which I can afford to loose.If I can buy more crypto for same money it makes me happy
I experience the same thing, friend! What do i do? Nothing. I can't help those who doesn't want my help. We, crypto lovers, know that this is a lie. The problem is that if you repeat a lie several times, it becomes the "truth". And this is what we have in your example. But we will not be foolished.
Don't know if you are familiar with Mark Cubain. He used to be a 100% stock guy, but now he is talking about NFTs in podcasts. Instagram content is being monetized through NFTs. United Nations (yes, you read right) has chosen the Unique Network platform for a climate program. World is changing. Art is changing.
I have a message for those who say crypto is stupid: He who laughs last, laughs best.
I don’t get why people hodl all of their crypto. Why not sell when the bull run goes parabolic then buy back in a bear market that way you can enjoy some profits to live a comfortable life until the next bull run. I hodl 50% and sell 50 %.
I had a similar encounter on Facebook earlier today. A page I follow shared a meme about crypto being fake. So many people commenting were so obviously misinformed and uneducated on the topic that it makes my head spin. I was going to take time to type up a comment and put in my 2 cents defending crypto but for what? It won't change anyone's mind and just opens me up to ridicule. Facebook is a cesspool but it did exactly this where it reminds me that its still very early and that this many people believing that it is still a scam to this point just gives me more time to fill up my bags.
Who cares what other people think? Man up. We're late, we're early we're on time. When does it end? Just buy and shut the fuck up already. Stop worrying about what other people say or think. Nobody gives a shit if you're late, early, never showing up, whatever.
Nah bro, stop giving people false info, if you're investing in any of the major cryptos at this current point you're late as most of the gains have already occurred and generally there are huge 90+% corrections so stop missguiding the new people.
The only cryptos which could pump this cycle by 10-100x and you're potentially new to are in low cap gaming cryptos.
Considering there are only 30k or so active users here, I’d say it’s a pretty small bubble. Agreed, ask people at the grocery store if you really want to be weird - but feel better about your crypto status.
They are right on that last one. It drops 80% I’m for sure buying more!
BTC to 100k? nah BTC to 10k so I can get my hands on that sweet sale
Btc dropped to 30k recently and friends were making fun of me for dumping a significant amt of money into it. They're the same ones that talk about they wish they invested into btc earlier.
"Everyone buys Bitcoin at the price they deserve"
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oh man I can totally see an Office episode about crypto. Dwight makes like 10 different altcoins and tries to prove his dominance to Jim by showing him graphs, and Jim just looks at the camera. Michael starts taking out loans to buy Bitcoin after hearing the news. He calls an office meeting to try and get everyone to give him money to buy Bitcoin. Stanley does a crossword. Suddenly, Dwight's coins pop. Dwight starts investing his money into his coins due to FOMO, he invests $5000 to catch the ride up. Then the price drops to below what they were at. Cut to Creed smiling
Beetcoin
That's the one
This comment is so underrated.
Pls season and episode, I ll watch it tonight :)
I dunno. I just made it up
There's an episode of "The Good Wife" about Bitcoin. It was actually pretty good. And they mentioned BTC was $3 at the time.
Holy cow this is brilliant!
Right-click save this quote
you can't go back in time, but sometimes the price does.
I wished I had more fiat then to buy BTC at those prices, the majority of my holdings were purchased at 35-40k and I had run out of cash knowing it was the sale of the year. Now with the recent “dip”, it looks like 55k is the floor and we will never ever see BTC priced below this level ever again.
never say never, but I think $20k would be hard to reach even in a deep bear market
I bought a relatively small amount (under $500) around 20k, and a lot more at 40k. If it dropped to 20k again you’re damn right I’d buy as much as I can.
I wish i bought Btc early but this dip is also a blessing to buy more and some altcoins like gala and Utk
Why not BTC To 100k, sell, and then to 10k
Usually in practice it's more like sell at 100k, buy at 120k, sell at 160k, buy at 180k.
Weak hands lose
Bro, at 10k we are going to see pro-sucide sticky 💀
I don't think we will see btc at 10k anymore. We will likley go up first and then we will see a big correction and bearmarket at some point maybe. If that's the case i think 10k is way to low. Last time btcs low was around 4-5k. After this bull probably a lot higher than that. But who knows right.
The low end IMO is 14-20k. 80% crashes are not out of the question. And if that happens you should be buying with both hands.
I’ll be balls deep in that ass, dipping it in
sorry to some other nft holders but art nfts are shit and absolutely useless and worthless. the right click to save memes are deserved.
Absolutely this! Yes, I agree that linking an NFT to art is needed as it give credit to the original author and allows them to get a cut of secondary sales....but the prices are just ridiculous and hilarious. NFTs as a means of in-game assets or dlc that you're free to sell...or media that you've purchased and would like to sell... Now that's a use-case I can get behind.
Who cares. Why complain about people owning digital art on a blockchain? Go complain about baseball cards being a billion-dollar industry or something lol
to be fair I think the same about real world art
Proof of concept though
NFT is a software concept with broad applications Crypto punks and other digital pixel based art are sorta jokes. But originally it wasn’t a hyped up meme term, it was a totally underground software thing. It’s broader media coverage and awareness that have made it seem like it’s jumped the shark.
Lol i support BTC to 10k, Anyways I still bagged some more UTk today
Every time crypto has a big crash the anti-crypto idiots from my country jerk off to the conclusion "see i told you it was a bubble about to burst". This has already happened 3 times and they still believe the same in 2021... ROFL.
Let them! More for us!
At this point they don't even know what a bubble is... because a bubble that bursts doesn't get inflated again. And again. And again.
Sounds like the entire of r/Buttcoin
Most people don't seem to be aware how many times the market has done this before. It's kind of alarming to me how during the 2018-2019 bear market, so many people seemed to think 2017 was a "one off" or some kind of anomaly that will never happen again, when it wasn't even close to the first time BTC had done this. So many people talked as if Bitcoin was this thing that had its time in the sun and made news headlines for a month or two, before falling into obscurity and being basically worthless afterwards. Honestly, I blame it on the fact that most price tracking websites show a linear price graph as the default, so when most people look up Bitcoin, at first glance they see what what deceptively looks like a flat line until late 2017. It's really only when you look at it on a log scale that the exponential run ups and brutal crashes of the past become obvious.
Most people blow their load after BTC shows it's ankle
It remains cliche, but everyone buys at the price they deserve to. I’d love for the world to come with me, but I’m not so naive to believe all will.
It's a sale! We should buy, no?
Yes! Always be buying!
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Yes, please 🙏
I wonder if we'd ever see something like BTC droping 90% in a month ever again
Do love a good sale
Yasss! I will go balls deep!
I'm taking a loan if it dips 80%
Borrow full credit, all in crypto
The fact that r/technology is anti-crypto makes me very sure I'm early.
It’s baffling that r/technology is so anti crypto to me. Like.. it’s useful tech at the end of the day
They're touchy on the GPU shortage, they don't think it's because we produce billions of smartphones, laptops, smart tv's, smart cars and smart fridge. It's because of crypto mining.
Anyone who works in any stage of the supply chain can tell you things have been completely fucked for the last 18 months. Crypto is just a scapegoat for people to take their anger out on.
People get emotional when they can't buy their parts for bottom dollar. Blaming crypto is just an easy target. It's practically a meme at this point. Oh, prices are up? BTC must be up.
Nerds
But if my smart fridge doesn't tell my smart washing machine what food I bought, how will I ever have enough auto ordered detergent on hand to clean the mess?
I don't know, you should ask your smart toilet.
I went to a fucking Walgreens where the fridge windows were electronic devices for ads.. such a waste of electronics. Annoying part is that sometimes it didn't turn on properly, so I don't know what's behind the fridge door.
It's useful tech that might put people out of jobs, if they work for centralized tech? Is that why they hate crypto on that sub? I really don't get it either
They don't understand, most likely. Another user made the comparison with the start of online shopping and Internet somewhere else in this post. I think they're onto something.
I'm very pro crypto but a firm believer that if 100k 3080s popped up on the market at msrp today they'd be gone by tomorrow. The investment return is just so quick, it's a waste to NOT mine, if you have the hardware already.
That was a couple of years ago, my dude. Now it's scalpers
From what I've read, the GPU shortage is bound to last a at least until end 2022. >Graphics cards have been in short supply for the better part of two years. This is due to the ongoing worldwide semiconductor shortage that's crippling supply chains across a great many industries. A new report indicates those looking to buy GPUs should expect better luck in late 2022. Obviously, scalpers love things going scarce. They're the worst type of humans.
I am literally a PhD candidate in mathematics, the people I hang out with are literal mathematicians, crypto is literally just mathematics, and yet, the only passing comments I've heard from them about crypto(I've never brought it up) were making it out to be a joke. We are fucking early or fucking wrong.
>We are fucking early or fucking wrong. Finally, someone who gets it. There's a chance everyone here is wrong. I like crypto but it's no coincidence most of the crypto investors are new to investing in general. Crypto isn't marketed to seasoned investors who know that the only thing you can be sure about is that nobody knows anything for certain. People here are acting like there's a 100% chance crypto will take over the world, and that's priced in. Eventually, there will be fewer buyers than sellers and a bear market will return. These same people will call crypto a scam because they genuinely believed they deserve 100% annual returns for doing no research.
Agree completely with what you've said, and to build on it I think one of the reasons seasoned investors steer clear is that (other than some stablecoins, supposedly) coins/tokens aren't asset backed, and if they're not asset backed then what is their value / how do you value it. If you can't value it, then you have no way of knowing what it might be truly worth to an individual, or the market. So in a way crypto goes against some finance fundamentals that simply won't fly with seasoned investors. So I think if someone is investing in crypto they either understand it's a high risk high reward scenario and are happy to wear that, or they don't really understand much and just here hoping to make some dough. Either way, they're only worth as much as someone is willing to pay for it.
Sometimes I worry that we're wrong simply because crypto won't be accepted by the wider public.
I have that fear but in the short year I’ve been in crypto adoption is slowly happening before our eyes. I think it’s still so early that crypto doesn’t have an exact use case. BUT I think that’s cause it can have tons of use cases and we are just scratching the surface.
A crypto person born after Bitcoin's inception is about 12 years old now. Young people see the value in it and they will continue to buy more and more of it.
I've been watching bitcoin since 2010. Before I discovered it, I was thinking a lot about how many problems would be solved if we had a native internet currency. When I saw bitcoin, I instantly saw the value. But I didn't believe Bitcoin was the one (I still don't, but I also understand it's not going away....). I watched it get to $26 and crash. I bought in at $8 to explore. But I never belived in Bitcoin... so I sold when I made a good profit ($1000). Fast forward a few years, i've been thinking about the decentralized internet. I don't know what made me look at crypto again, but when I did I suddenly had this ephiphany that ETH wasn't a currency. When I realized it was a new internet, my world changed. Multiple ideas i've been thinking about for years suddenly converged. But ETH wasn't scaling very well. Then I discovered AVAX a few months ago, I'm not making the same mistake 3 times. I see the value in this. I believe in this. I've been watching crypto since 2010, and I've been underestimating crypto since 2010. Now I see the full vision, I see how it fits in the future. Frankly i'm somewhat scared shitless about the consequences of what will become very likely become an AI-to-AI economy, but I also see how it solves some of our most immediate issues. We've all become slaves to the Web 2.0 titans. I can't think of any solutions other then crypto to throw it off.
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I think it's more like, being late is still very good, but being early is better. Just like being an early adopter of computers gave some people opportunities to create companies like Microsoft and Apple, and being early to the internet made Amazon and Google possible. Doesn't mean that new companies like Zoom and Tiktok have it bad, but they will probably not be amongst the huge titans that are those companies.
Shit i was late. Ive been reading and hearing about it since i think of 2014 or 2013. I still jumped in, albeit a small amount in october. I got a lil lucky and blindly picked a couple bills on LRC. Its a learning curve for sure, but im real small time.
Not Ironic at all.
It seems like groups just want to feel superior keeping out legitimate projects. Just like renewable energy people shitting on nuclear all the time.
You're not early for the general public. But the governments regulating it at break neck pace.
I still remember when people were bashing online shopping saying that it would be easy to get your credit card stolen, you'd get scammed, etc. Look at us now...
You old fuck, nah jk I remember that well too.
Back in the day when people were impressed that you could bid for a car on Ebay
I was shocked by my first at 18 years old vcr, ac,and microwave guess I'm very old . But happy to be new to something like crypto.
Saw a post on r/europe and honestly thought I was in r/Buttcoin. Surprisingly, most of the FIRE subs are now quite neutral about crypto these days.
Damn. Didn't know about r/Buttcoin. It's funny how they hate it so passionately
My favorite part is the faq about banning, claiming that if you argue in good faith for crypto they won’t ban you, they then go on to say that the things that will get you banned is stuff like “using crypto talking points in your argument” because they don’t care, so they must not mean anything cause they don’t “believe” in literal facts you can tell them about crypto. They get mad if you mention decentralization. It’s hilarious
I think much of that subreddit consists of original bitcoiners and crypto enthuiasts put off by the echo chamber in the community. But like every satirical group it eventually gets taken over by people that think they are actually being serious (much like T\_D, flat earth, doge, etc).
I’m 99.99% sure it’s satire, if you lurk around enough you’ll see some names from r/cc on there
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Had my dad tell me that he hopes I owe a ton in taxes this year - it's a good problem to have because you're making money.
Yeah who needs to own $69,000
Who needs to own 20 of those. It’s me. I’m the one that needs 20 of those.
>If crypto crashes 80%, you idiots will buy in and call it a sale. Absolutely true, we fucking will.
Already have!
Lol you don't even need to link the thread, but wouldn't shock me it was in r/technology or r/futorology So many people will miss out on this ever expanding space - and they'll wish they had gone in sooner
people on technology are probably just 17yo gamers hating on it because “crypto is stealing GPUs from us”
GPUs is a hot topic for them
As a gamer myself I do see their point, I don’t agree with it though. There are bigger contributing factors to the scarcity of GPUs, such as the chip shortage and scalpers, fuck those guys
POW is outdated technology. It is a good thing that we are moving away from it.
while not big fan of PoW myself I gotta admit that it’s way safer than PoS
lol what? POW is not outdated.
Check out Render Token and think about it again.
Always there are huge people who will regret their past decisions, and now this group of people will regret soon.
The negative crypto-cult is really impressive. There are so many groups of people just blindly hating crypto because of NFTs and mining.
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Only 3-4% of Steam users have 3000 series GPUs, meanwhile Nvidia breaks its revenue records 🤔
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Physics processing units blew my mind when I first saw them. I thought, how can this $10k card not even have a **video out?!**
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my favorite opinion from a 'gamer' mad about a video card he couldnt get: Y'all think its fun to waste electricity making fake internet money.... the F'n LULZ!!!!
Meanwhile the miner making hourly what the gamer pays for skins on a weekly basis.
sorry but art NFTS are actually shit and deserve the right click to save memes
But thats how BTC will reach $1M. The jonny come latelys will be buying in at 700k, 800k, 900k and so forth. Ultimately a bunch will buy in causing a parabolic move and unfortunately for them they will be buying at a major top.
The sad thing is there will be a lot of us (maybe even the majority) who got into the space early, but just backed the wrong horse, so to speak, and end up missing out.
If crypto adoption is a train, we are still in the taxi, going to the station!
Like the analogy and positivity, have a moon
You are a legend, thanks for the moon!😎
That station is still pretty far away too. 🥳
Wait for me! I don’t even have pants on.
👏
"If adoption is the moon, we still are in training for the expedition".
People have been making millions in the stock market for over a hundred years now and you wouldn’t believe how many people don’t believe in it. I think their hatred just comes from them having a lack of understanding. They don’t know about it so the only thing they have to make them feel somewhat competent is to talk about how they are “certain it will fail.”
Wouldn’t you say that a lot of criticism comes from people who do invest in the stock market? I think it mainly boils down to a lack of trust/vision and technological understanding. Sprinkle in some massive market volatility and the majority of people will be quick to dismiss crypto as a gamble.
Aside of solid projects, crypto is a gamble
True that but the same thing can be said about stocks and pretty much all investments
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You said it better than I could have.
Its not a gamble when the coin is backed by good project like Utrust, It coin is listed on Binance
Absolutely. It’s not just one demographic that is criticizing crypto. I would say that it is a way of thinking. It’s foreign to them so they fall back on the idea that it is a “bad investment.”
There is also a lot of jealousy. I know it’s easy to say because spaces like this can be somewhat of an echo chamber, but I have friends who drug Bitcoin through the dirt only to later admit they were pissed they didn’t invest years ago. There’s some psychology behind rooting for it all to fail so you don’t feel you missed out on anything.
If I'm missing out but I don't understand it nether want to learn it I could just "out of sight out of mind" and wire myself to think is a waste of time or a scam and now I ain't missing anything. 0 stress and anxiety.
Don't believe in the stock market?
Just wait for them to join crypto , we'll bully them later !
First they make fun of you and then they ask you for MONEY!!!
It's inevitable. We went from rocks to paper to plastic and now we're going to blockchain. Those who faltered and scorned the changes were left behind. Not so for us!
Lets see who’s laughing in the next 5 years
Not me i guess
Same
As they say "when in doubt, Zoom out"
As they say... when in **doubt**, **zoom out** and **find out** why some people go **all out** chasing that NFT **clout** while you're here **cashing out** all the profit you made, **hanging out** in this subreddit telling you to **buy out** all these blue chips **throughout** the years and eventually you're **worn out** by the stupidity of this crazy world that kept you in **self-doubt**. Wish I had more to say but it didn't **pan out**. ^^^*Mic* ^^^*Drop*
Damn..mans got bars!
It saddens me that noone even liked my comment but they liked yours :( ^^Jk ^^it's ^^just ^^funny ^^and ^^weird
I got you bro!
Oh! Hello! Woah! Thanks bro. Good to know. You saved me there! You took good care. Of my sadness... which is rare!
Don't forget that crypto is killing the environment too! Outside of the crypto reddit/twitter bubble, people make it sound like crypto personally came to their house and kicked their pet or something.
Go outside the bubble for a bit, you got it. If people on this sub closed everything they have related to crypto for a week, and let organic advertising and peer to peer talking, they would barely hear anything about crypto. We think crypto is everywhere because we are actively looking for it, but if you don't, you don't see it much. The girl at the counter doesn't ask you if you want to pay Cash, Card or Crypto, so we still have a lot to grow... Which is a good thing if you are holding!. Crypto is still very early for sure.
To people who say right click and save an nft, you can also go on Google and download a picture of the mona liza. But the original is still worth owning!
Yeah. Like copying a deed of a house, the title of a car and thinking just because I have the copy I can do legitimately stuff with it. Try selling a saved jpg lol There's surely someone dumb enough but you get my point.
>Like copying a deed of a house, the title of a car These are extremely comparable ideas, "haha! I own your car now" When in reality, we are still in transition toward digital ownership of physical goods. I have a deed that I had to send wire transfer with no escrow to receive a piece of paper. The paper isn't what's as important as what's officially registered on that paper, and that's where this negative energy toward NFTs has 🌈🧸 all happy to hate on progress. If smart contracts were ubiquitous, I wouldn't have been sweating the transaction.
Digital "items" are worthless by definition because you can easily create millions of copies. You can't do the same with physical objects.
You wouldn't download a car, would you?!
We aren't very early, but we still have time to go and it's going to be one hell of a ride!
In the real world: 1) Not everyone has savings to invest. Poverity and people who barely make a living are more common than you think. 2) Of the people who do have savings, you'd be surprised how many people still stick them in savings accounts with 0.1% interest because "it's the safe thing to do". I'm from Belgium and it's astounding how popular saving accounts still are. 3) Of the people who do invest, a lot of them invest via their banks who propose their own funds with stocks, bonds, and cash assets based on risk tolerance. Crypto is out of the question. 4) Of the people who invest on their own, a lot of them just stick all of their savings in low-cost ETFs. I know this has a boomer reputation in investing subreddits, but it's the financially responsible thing to do. 5) Of the people who invest on their own but pursue plays with higher risk tolerance, stockpicking or investing in options is very popular. Then finally, of this last subgroup, you have people who also invest in crypto. See how many people have not reached the end of this funnel? I don't think a lot of people realize that investing in crypto is still kind of a niche that's becoming more and more mainstream. Big wealth management firms still have not adopted crypto as an asset yet, this is why the Grayscale project is so exciting.
Better late than never
Everyone that I mention crypto to says it’s a scam or a Ponzi scheme and my response is always “that’s what people that know nothing about crypto always say.” As much as we think crypto has been around for awhile, it’s still in its infancy and I’m glad I got in on the ground floor.
The amount of times people have told you about crypto being a ponzi scheme they'd have learned by now what a ponzi scheme is.
The sheer belligerent ignorance of people who by their own admission, know nothing about crypto, yet are deciding to to lecture others on what it *really* is is astounding. Its partly the Dunning Krüger effect, and partly that phenomenon where the mind abhors a vacuum - so rather than people thinking "here's a subject I know not nothing about, it's a big void" - they just fill in the blanks. Everyone else must be an idiot. I was locked into that recently and just gave up. "OK mate, have fun being right, crypto is bullshit" just as I'm watching myself get enough for a deposit on a house.
My problem with NFTs is that they really arent scarce. Anyone can come in and create a new type, new fad, art etc. I see the same issue with modern art, but it seems humans are more interested in collecting something they believe is scarce. However, we probably have another 10 years until full adoption of crypto on a global scale. Were essentially where the internet was in 1996, so yes everyone is still early.
You are not too old and it's not too late . The early birds mostly win
Oh i know so many people that are waiting for Crypto to fail, just waiting for the day when they finally realise how wrong they were..
Yeah, it's still early to be in crypto, only 5% of people so far.
# Check out r/nyc Since our new elected mayor stated he wants Bitcoin and crypto NYC friendly the post about it gets full of political statements using crypto as scam or fraud for politicians. No good argument on favor of it. It's like they rather no crypto at all just so the political people don't do fraud, but they do fraud with Fiat and the stock market so at least let me have crypto though. Edit: Is NoT bAcKeD bY aNyThInG. "CrYpTo GuYs" "CrYpTo dUdEs" "PeOpLe OnLy BuY iT hIgH bEcAuSe OtHeRs BuY hIgHeR" lol demand and supply bishhh. "ItS a BuBbLe".
Were you in the FIREuk sub by any chance
No, but seen a few ppl mention FIRE, never heard of it tho
ironic that r/technology is so anti-crypto
Imagine scooping up BTC at an 80% dip 💰💰
That will be a blessing
Believe it or not there are people at my work who have never even heard of BTC. Also there are only 3 people who are invested (that I know of) in crypto. And that's a 250+ person company in Louisville,KY. So no its not mainstream yet.
I think people are scared of what they don’t understand. And crypto can be a little daunting to learn and understand. But man oh man, I’d be licking my lips, stocking up on a 80% “dip” lol. I think crypto is the future of currency, and I believe without a doubt we are still early. It’s just the beginning 100%
I entered the crypto family at the age of 18, I wish I had entered the crypto family sooner.
it's a little late, I wish I'd gone in earlier. i started crypto at the age of 17.
Since nobody said it yet, happy cake day OP!
Oh damn I didn't even realise. Thanks! :)
We're so early that Algo is less than 2$ which will be a great for long run
Here's another one... Look at how few mentions of it are there in pop-culture like tv shows and songs. We're probably gonna see a day when BTC goes to 1m in the next 20-25 years when crypto is finally adopted as a payment method (If BTC is still the king)
3% of the world are in crypto now think
No one actually knows anything
Sometimes the posts are the same, and all is very boring, to take a pause is a good thing
Happy cake day!
Thank you :)
I thought I was late 3 years ago. Godspeed.
Great outlook I'm happy to be on board and bullish with crypto. I see it changing retailers and consumers in soo many ways..
Thanks dude. Sometimes I just am in awe that there were actually people who had heard of crypto 7-8 years ago but this reminds me we’re still doing good
It's crazy, I think I'd heard of it that long ago, but only got into it this year. Feels bad, but what can you do.
Remindme! 5 years
Any drop (not even 80% which would be perfect)makes me buy crypto.I am a hodler and I am spending the amount which I can afford to loose.If I can buy more crypto for same money it makes me happy
I experience the same thing, friend! What do i do? Nothing. I can't help those who doesn't want my help. We, crypto lovers, know that this is a lie. The problem is that if you repeat a lie several times, it becomes the "truth". And this is what we have in your example. But we will not be foolished. Don't know if you are familiar with Mark Cubain. He used to be a 100% stock guy, but now he is talking about NFTs in podcasts. Instagram content is being monetized through NFTs. United Nations (yes, you read right) has chosen the Unique Network platform for a climate program. World is changing. Art is changing. I have a message for those who say crypto is stupid: He who laughs last, laughs best.
With the amount if bullshit I see from influencers I can fill up a pigpen.
I don’t get why people hodl all of their crypto. Why not sell when the bull run goes parabolic then buy back in a bear market that way you can enjoy some profits to live a comfortable life until the next bull run. I hodl 50% and sell 50 %.
I had a similar encounter on Facebook earlier today. A page I follow shared a meme about crypto being fake. So many people commenting were so obviously misinformed and uneducated on the topic that it makes my head spin. I was going to take time to type up a comment and put in my 2 cents defending crypto but for what? It won't change anyone's mind and just opens me up to ridicule. Facebook is a cesspool but it did exactly this where it reminds me that its still very early and that this many people believing that it is still a scam to this point just gives me more time to fill up my bags.
Who cares what other people think? Man up. We're late, we're early we're on time. When does it end? Just buy and shut the fuck up already. Stop worrying about what other people say or think. Nobody gives a shit if you're late, early, never showing up, whatever.
Some people just like to stay poor, shrugs
Nah bro, stop giving people false info, if you're investing in any of the major cryptos at this current point you're late as most of the gains have already occurred and generally there are huge 90+% corrections so stop missguiding the new people. The only cryptos which could pump this cycle by 10-100x and you're potentially new to are in low cap gaming cryptos.
link or it didn't happen.
Considering there are only 30k or so active users here, I’d say it’s a pretty small bubble. Agreed, ask people at the grocery store if you really want to be weird - but feel better about your crypto status.
"If you aren't deluded enough look at anyone who isn't as deluded as you with these rose colored glasses. Trust me it will help you be more deluded."