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Crypto is absolute TRASH and supported by NOTHING

Crypto is absolute TRASH and supported by NOTHING other than the Greater Fool Theory. Period. Full stop. Game over. If you actually think it will ever have any real merit or use I don’t know what to tell you....


Clarifications:


  1. This is NOT saying you can’t make money off of it. It is very possible to turn a profit trading crypto (a made up unicorn) for USD. #Tulips
  2. This is not saying the technology used to mine the coins does not have real world applications, it very much does, if ETH was a stock and I could buy it and own the technology and brains associated with it I would buy it quickly and in large amounts. However it is not a stock, when you buy it you are buying the literal coin, a commodity, a commodity that will never see any real world applications.
  3. This is not saying that all currency isn’t going digital. Very likely we will have a digital USD just as China will have its own digital currency.


Good day sir!

💵 Finance
💎 Cryptocurrency
💸 Investing
-2
WCK
Politicker
+8
Padre de Tequila
Crypto has value that we as humans assign to it. If people are placing value on a coin that has backing of white sheets and data, and using that to make transactions, then it IS supported and DOES have real merit. We wouldn't be having this conversation otherwise honestly.
Patrick_Bateman
Fire Starter
Senior Sales Consultant
Bro lol that’s literally THE definition of the Greater Fool Theory. You did nothing in that reply other than give your opinion. Also it’s called a White Paper not a White Sheet. The only people using it to make transactions are criminals.... pretty sure nothing at all has happened to the dollar. No one uses it it’s used a speculative commodity. Look up Tulip Mania...
WCK
Politicker
+8
Padre de Tequila
Now here's the issue with your statement. Can we consider Tesla, Paypal, and any number of large companies such as that "fools" as they've bought into crypto and also accept it as payment? How about "criminals"? 
There are literal real world applications for these coins, shown many times over. 

Also, imagine not being able to understand a quick response mid workday may use sheet and paper interchangeably because, ya know, Monday of LWOM.
stanrym
Valued Contributor
+5
CEO
I don't care about real merit. If I can make money, I invest a little and see what happens.
Patrick_Bateman
Fire Starter
Senior Sales Consultant
Totally fair that was my first clarification you absolutely can make money from it just like you can make money in a casino. Won’t argue that ever. My point is really to the crypto brahs at the bar save me the story about how this is going to change the world lmao it’s not. #TulipMania
SA
SADNES5
Politicker
+6
Business Development
Disagree, 

It's value is based on what people think it's worth. BTC will remain a store of value. Things like XRP, Monero will end up funding quick transactions. ETH will remain as a computer, and other coins/programs will be built on it.

I'm a big ETH guy. Smart contracts are the future of business. Clear defined triggers, no interpretation needed by lawyers when the bill comes, and services have been rendered. 
Patrick_Bateman
Fire Starter
Senior Sales Consultant
Correct that is literally the definition of the Greater Fool theory. Read what I said. It will have no real world application.... the actual crypto coin. I bet you my net worth no one on a mainstream level buys anything with a “crypto coin” it will be a digital US dollar. Thus the coins are worthless in true value but Greater Fool Theory can make anything worth anything. 
taylor
Opinionated
+2
Enterprise Sales Executive
cool story
Patrick_Bateman
Fire Starter
Senior Sales Consultant
Cool reply, figures a Seattle hippie loves crypto. Decentralize it brahhh! Break up the banks! 
swizard
Celebrated Contributor
+9
Sales Evangelist
hm.. following
braintank
Politicker
+6
Enterprise Account Executive
Amen!!!
Chep
WR Officer
+10
Business Development Team Lead
Smart contracts have some cool use-cases. 
Patrick_Bateman
Fire Starter
Senior Sales Consultant
For sure again that’s part of my clarification. The technology has tons of applications however when you buy the coin you are not buying stock in the company. You are just buying the literally crypto coin. If these were companies and you could buy stock they would be well worth a look. 
Chep
WR Officer
+10
Business Development Team Lead
Interesting. I think it's a double edge sword because crypto is supposed to be decentralized, but with most people using Coinbase, Gemini, hell even Venmo now, most people end up using a centralized third party anyways to buy crypto. 
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paddy
Arsonist
+9
Account Executive
HERESY
Patrick_Bateman
Fire Starter
Senior Sales Consultant
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