techboy

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About techboy

  • Rank
    The Rookie
  • Birthday 11/14/1973

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  • Redskins Fan Since
    Birth
  • Favorite Redskin
    Mark Murphy
  • Location
    Lorton, VA
  • Interests
    Biblical History, Finance, Travel
  • Occupation
    Teacher

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  1. techboy

    BitCoin falling like a Dotcom

    You are such a corporate shill, supporting that rip off. The Freedom Blanket* was first and best! https://gizmodo.com/ultimate-battle-the-snuggie-vs-slanket-vs-freedom-bl-5190557 *Bonus points for name appreciation overlap with many supporters of crypto.
  2. techboy

    BitCoin falling like a Dotcom

    I'm not sure the first sentence is true, but I'm not going to look it up, so I'll grant it for the sake of argument, while noting that BTC is actually still in deep bear market territory from it's highs a couple of years ago. I will note that the first sentence can be true, and the "pros" you're mocking here can still be right, depending upon which argument you're referring to. If, for example, the "pro" argued that BTC has no actual value, and is merely rising on hype, then it may well eventually go the way of tulips and beanie babies, and the behavior we are seeing from its price now is well in line with that theory. Check back in 20 years. Be careful.
  3. techboy

    BitCoin falling like a Dotcom

    I was going to ignore this, because I actually suspect that you're just doing a shtick for your own entertainment (at least I hope it's entertaining for you... you don't seem to be amusing anyone else), but on the off chance you're sincere, I'll explain further. 1. I know more about investing than the vast majority of people. I have spent more than twenty years studying the subject, and in that time I have read dozens of academic journal articles and books on the subject, when the vast majority haven't read even one, probably because they're kind of boring, except to oddballs like me. Pretty much the only people on Earth that know as much or more than I do are other oddballs, or professionals in the fields of finance and economics. 2. That means that the strong probability exists that I know more on the topic than any person I converse with, and it would be fair for me to assume this is the case in any random conversation, such as, for example, with you. 3. Sometimes, additional evidence can show me that this might not be the case. I know that @PleaseBlitz, for example, is someone that works in the field of finance professionally as an attorney. @mcsluggo is an economist. 4. You, on the other hand, have presented me with no such additional evidence. You answered my basic theoretical question about why bitcoin is an investment rather than a currency to be traded by flatly asserting it will rise (because you say so, I guess) until quantum computing, and following up with a rather weak appeal to authority by linking a bunch of random articles showing that certain experts have joined various blockchain related companies. This answer did not impress me, mostly because it did not remotely address the issues I raised. You answered @PleaseBlitz with a series of blockchain related vocabulary, lacking additional context. You have established that you have read a few articles and know some vocabulary terms, but that's about it. 5. Despite all this, I have never said "you don't know much about investing", or "I know much more about investing than you", because it would be condescending and rude. I don't actually know what you know about investing in general or blockchain in particular. Maybe you just like to troll and know more than you're letting on. In summary, you don't actually know what I know about blockchain, or bitcoin, other than the fact that I asked you a question which appeared to challenge your position, and yet you came back at me by asserting that I don't know anything. That's condescending, and rude.
  4. techboy

    BitCoin falling like a Dotcom

    Aw, you went all patronizing and rude on me, but I didn't even warrant a sarcastic gif? I'm offended. How will I ever see the light if I'm not having my intelligence mocked visually? I'm obviously too stupid to read. As it happens, though, I DO own some MGI, if that's relevant in any way.
  5. techboy

    BitCoin falling like a Dotcom

    So, why exactly should one buy Bitcoin again? Plenty of companies are making use of blockchain (Vanguard, for example https://pressroom.vanguard.com/news/Press-Release-Vanguard-Using-Blockchain-Technology-To-Improve-Index-Data-Distribution-121217.html). Blockchain would seem to have value. Buying Bitcoin (or Dogecoin, or Ethereum, or any of the seemingly endless options you listed), though, isn't an investment in blockchain. It's a bet on one particular implementation. You say you wouldn't try to trade it, and I agree. At its heart, the most charitable case for Bitcoin is that it's what its supporters want to believe... a long term store of value that will become a stable currency, replacing so called "fiat" currencies. That's the best case, and while currency trading is what made George Soros filthy rich, it's also notorious for being unforgiving, brutal, and more ruinous than day trading stocks. The problem, though, is that beyond that, Bitcoin literally has no value. If I buy a stock, I can speculate and trade it if I want, but underneath, I am buying a piece of a company that makes something or provides a service. A bond gives me a similar connection to a company or government. Real estate I own land that has a use, and the same for timber and so on. Even gold is pretty, makes jewelry, and can be used as a conductor. None of that is true of Bitcoin. When its "expiration date" hits, either because another cryptocurrency wins or the whole idea is abandoned for some reason, you are left holding ether(eum). There's no reason for it to have any actual value, so you have to trade it if you want to make any money off it.
  6. techboy

    BitCoin falling like a Dotcom

    I actually first saw the video I posted on page one on Greg Mankiw's blog (http://gregmankiw.blogspot.com/2018/01/wisdom-about-bitcoin.html). It's hilarious mostly because it's incredibly accurate. Interesting. Most cryptocurrency advocates argue that one of their greatest strengths is that they are supposed to be a store of value, a weapon against inflation. They tell stories of Bitcoin use in Venezuela, to combat the hyperinflation. We see @sportjunkie07making something of that argument in this thread. If that's the case, how can someone make money except by trading? *EDIT* The whole point of storing value as a currency is that it doesn't go up (deflation) or down (inflation), though it might fluctuate in value against a different currency from day to day (which is where currency traders attempt to make their money).
  7. They're not. https://www.nytimes.com/2019/06/14/us/politics/us-iran.html For example:
  8. Trump speaking always sounds like the kid called on to present his book report but he didn't read the book. This one's almost too on the nose.
  9. You're the only plagiarist I've noticed though. If you're going to use something someone else wrote, give proper credit. You forgot to call him "sir" and cry even though you're a big tough dude.
  10. A quick google search indicates @hailmaryis actually plagiarizing Charlie Kirk's twitter account.
  11. No, of course not. He doubled down on it. From https://time.com/5597843/central-park-five-trump-history/:
  12. techboy

    The Impeachment Thread

    18:35
  13. techboy

    BitCoin falling like a Dotcom