General Discussion

ColinC

(8,291 posts)

10. It is still a highly volatile speculative market.

Mon May 17, 2021, 02:47 PM

May 2021

But this change seems to be foreshadowing a shift towards investments based on actual function and efficiency as opposed to pure speculation.

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Bitcoin, dogecoin lead wipeout of over half a trillion dollars in manic Monday for crypto [View all] multigraincracker May 2021 OP

It seems the only use for bitcoin and other cryptos comradebillyboy May 2021 #1

I bought a string trimmer, leaf blower, backsplash and other tools. ColinC May 2021 #4

How do you buy regular stuff with Bitcoin? dawg day May 2021 #6

Right now there are a lot of smaller businesses that accept them directly ColinC May 2021 #9

That is their main use. Avoiding any legal BootinUp May 2021 #13

I think it's here to stay jimfields33 May 2021 #16

I think they're a more modern gold or silver Johonny May 2021 #44

It very well could on both possibilities jimfields33 May 2021 #45

Kickin' Faux pas May 2021 #2

Probably not. ColinC May 2021 #3

Its mostly a speculative market that makes it easy to launder money TheRealNorth May 2021 #5

It is still speculative because it is an emerging market, so to speak ColinC May 2021 #7

'Half a trillion'. Nothing to sneeze at. empedocles May 2021 #8

It is still a highly volatile speculative market. ColinC May 2021 #10

Yet half a trillion too much superpatriotman May 2021 #12

4 times to the moon! empedocles May 2021 #14

Another reason for us to just use cryptocurrency or digital fiat ColinC May 2021 #38

;-{) Goonch May 2021 #11

Because on SNL, Elon Musk said the word, Dogecoin. Budi May 2021 #15

All this crap comes from an infantile cryptocurrency rivalry started by Barry silbert ColinC May 2021 #17

I recall reading that bitcoin/crypto became useful within global criminal orgs for Money Laundering, Budi May 2021 #18

I mean I think it can be regulated like anything else, and I hope it happens. ColinC May 2021 #20

Perhaps, but as soon as it looks to be regulated, the profiteers will seek out another variant. Budi May 2021 #22

I'm optimistic that the people interested in crypto for legitimate means ColinC May 2021 #27

The illegitimate users are already a step ahead. Budi May 2021 #28

I mean, they are still a minority... ColinC May 2021 #31

and once the criminals found out it was useful the international banks wanted in. ZonkerHarris May 2021 #36

If a mere SNL appearance can cause it to lose so much, it seems at best, a weak currency medium LanternWaste May 2021 #32

I mean it is a new "currency" that hasn't quite been tested as a standard ColinC May 2021 #33

How do you wipe out something that never existed in the first place? Binkie The Clown May 2021 #19

The only reason any currency exists or has value is really because people think it does ColinC May 2021 #21

All currency is a Ponzi Scheme. dilby May 2021 #24

We will always have ways of buying goods and services, but... Binkie The Clown May 2021 #39

The entire market is tanking. dilby May 2021 #23

I tried to warn you all intrepidity May 2021 #25

Hold onto your horses!! Doge moves in exponents. ColinC May 2021 #40

I have no idea how well crypto currencies will do in the long run, but I hate the energy waste... Silent3 May 2021 #26

K & R Thank You! THIS⬆️ Budi May 2021 #30

Dammmmmmmmmnnn ColinC May 2021 #37

Also they talk a lot about electricity consumption of crypto ColinC May 2021 #41

I hope it fails. LiberalFighter May 2021 #29

I've seen the end of bitcoin about 15 times since 2012 fescuerescue May 2021 #34

Yet its still relevant. And likely always will be. ColinC May 2021 #35

Good. I want to buy PC parts and they're driving the price up. Oneironaut May 2021 #42

Good. BannonsLiver May 2021 #43