Crypto Sponsorship for the AFL - and now NFTs

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Kwality

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Exactly right.

A gold coin has hardly any usefulness in and of itself. But people accept it because one assumes others will.

The price of gold is set by the market of buyers & sellers. It fluctuates like any market & if you understand that market it is predictable to some degree.
 

RUNVS

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We noticed our female fans weren't losing money with our gambling partners, so we've provided them a solution.

That is what crypto is really, gambling. At least with other stocks they are somewhat linked to something, so how a company performances for instance. Crypto does not have that.
 

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RUNVS

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So what is the housing market?

The housing market is a bit of a scam at the moment as well but at least with that you can get somewhere to live, or something to invest in, so you get money back in rent.

Though from what I have read a recession will hit in the next 12 to 24 months with inflation and the Chinese housing crisis so perhaps housing will go down too.
 

The 747

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The housing market is a bit of a scam at the moment as well but at least with that you can get somewhere to live, or something to invest in, so you get money back in rent.

Though from what I have read a recession will hit in the next 12 to 24 months with inflation and the Chinese housing crisis so perhaps housing will go down too.

You get your money back? What?

And bzzt, you can rent out your crypto too - for considerably higher yield than rent.

Fair enough, houses are somewhere to live. Let me rephrase, what about the investment property market then?
 

bzparkes

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That is what crypto is really, gambling. At least with other stocks they are somewhat linked to something, so how a company performances for instance. Crypto does not have that.
So is crypto, regardless of whether you believe it or not.

If they don't have a purpose, they don't get big. Understand?

Also, with how great stocks are, what do you think of the S & P 500 estimated to lose 50% of its value, which in turn is crashing all other markets, including crypto.

Blame the S&P 500 for the current market condition and last time I checked they weren't a crypto project!
 

Jim Levenstein

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So is crypto, regardless of whether you believe it or not.

If they don't have a purpose, they don't get big. Understand?

Also, with how great stocks are, what do you think of the S & P 500 estimated to lose 50% of its value, which in turn is crashing all other markets, including crypto.

Blame the S&P 500 for the current market condition and last time I checked they weren't a crypto project!
Clearly you sit on the sidelines which is fine. But don’t try and justify your risk aversion, just own it and understand where you sit as an individual. All markets have cycles with opportunities to profit on up and down swings. Telling yourself no one makes profit doesn’t make it accurate.
 

bzparkes

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Clearly you sit on the sidelines which is fine. But don’t try and justify your risk aversion, just own it and understand where you sit as an individual. All markets have cycles with opportunities to profit on up and down swings. Telling yourself no one makes profit doesn’t make it accurate.
Eh? That's not what I'm saying at all.

I just take issue with people who will happily call crypto gambling, yet think the stock market is totally fine.

Just shows they don't have a clear understanding of either really.
 

Corkintheocean

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Aug 15, 2009
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Interested to know which phase the bulls ITT think crypto currently is?
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Jim Levenstein

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Eh? That's not what I'm saying at all.

I just take issue with people who will happily call crypto gambling, yet think the stock market is totally fine.

Just shows they don't have a clear understanding of either really.
Sorry, read one comment and took it the wrong way. But you are right, anything with a potential return carries inherent risk. What is an educated selection for some and a speculative punt for others, is still a gamble.
 

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bzparkes

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Sorry, read one comment and took it the wrong way. But you are right, anything with a potential return carries inherent risk. What is an educated selection for some and a speculative punt for others, is still a gamble.
In my opinion it all boils down to how much knowledge you have prior to taking said risk. If you know absolutely nothing and just throw money into something then yes, that is straight up gambling, be it crypto, stocks, real estate, etc. You're basically just throwing all your money onto red/black at the roulette wheel and hoping for the best.

With investing, provided you do your due diligence in researching and actually understanding the space you are looking to invest into, you will minimise your risk however there's always potential to lose your initial investment in anything.
 

bzparkes

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Kram

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There's a huge difference in buying say shares in CSL or a mob in the nw of WA drilling for nickel or Crypto.

One is investing, 2 are speculating...
 

bzparkes

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There's a huge difference in buying say shares in CSL or a mob in the nw of WA drilling for nickel or Crypto.

One is investing, 2 are speculating...
Of course there is. Just like there's a massive difference between buying Bitcoin/Ethereum and buying CumRocketDogeElonInu the second it launches on PancakeSwap.
 

bzparkes

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Crypto bro stock responses to dissent :

1. Boomer
2. Do your research and educate yourself (post some stupid YouTube video here)
3. Moron
4. Bitcoin is just like gold for millennials

It's clear you haven't done number 2 on this list based off the nonsense you posted in your previous post.

You clearly know nothing about crypto so why feel the need to comment on it?

Warren Buffet doesn't invest in tech stocks for instance, because he doesn't understand them. He doesn't publicly rubbish them though.
 

Red Black and Blue

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Except fiat is released by legit governments. Much of which is democratic government which can be voted out and is scrutinised by dozens of institutions and rules of governance developed over centuries

Cryptos are released and controlled by a small handful of unaccountable people. They can change the rules or code anytime they want. It's not decentralised. This is a lie. Also a small minority own the majority of coins.

The great con is the crypto bros all read off the same hymn sheet in one gigantic echo chamber where they are told they are all independent free thinking libertarians.

In fact they are the part of the biggest sheep flock in history.

All repeating the same (false) talking points. Bah bah bah.

Imagine thinking voting changes anything and that people who have led to multiple world wide financial crashes have been held accountable.
 

bzparkes

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Yeah I don't understand them

I'm not smart enough
You don't have to be 'smart', you simply have to spend time learning and understanding what it is, without being influenced by the common opinion of others that you currently happen to agree with.

What you described in the other post is simply regurgitated rhetoric from people who don't understand crypto as a space and just parrot the comments of others.

If you do fair and unbiased research into the space and still arrive at your initial conclusion then fine.
 

bzparkes

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kickazz

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It's clear you haven't done number 2 on this list based off the nonsense you posted in your previous post.

You clearly know nothing about crypto so why feel the need to comment on it?

Warren Buffet doesn't invest in tech stocks for instance, because he doesn't understand them. He doesn't publicly rubbish them though.
I'm not au fait with his whole portfolio, but but I'm pretty sure BH has a big stake in Apple at least?
 

Scotland

TheBrownDog
May 5, 2006
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Is Crypto a scam? Yes. Is Fiat a scam? Also yes.

The belief in the value of something that has no intrinsic value is the bed rock of society.

Trade Eggs and Fur again.

The majority of crypto nuffies who tell people to do their own research don't even know what fiat means yet sprinkle into every sentence like parsley.

The US dollar for example has value because it is the minted currency of the US govt and the US has a large economy that people want to participate in. The value of the dollar changes based on many factors including the volume in circulation as determined by the Federal Reserve.

I do enjoy when people argue that the USD is worthless not backed by gold then argue that gold has no intrinsic value either.
 

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