Bill Maher: Crypto Currency Is A Joke ( NSFW )

[TTL News 308]

 

[Kevin 334]

If you don't want to get into crypto than don't.  I have put money into Doge coin. It was about $.005 when I bought it and now it is at about $.50.  So if I cashed it in right now, the profit would be good. My son has gone bigger and owns like 18,000 coins, as of this morning he is up about $6,000. 

Like all investments it has risk, don't invest more than you can loose. 

I also own stock in actual companies and my Doge coin right now has a higher rate of return. 

I would listen to Mark Cuban and Elon Musk over Bill Maher when it comes to investments.  

Crypto is a buy it and forget it investment.  If you bought 1 bitcoin for $.0008 in 2009, it is now worth about $55,000.00. I regret not buying a couple thousand coins back then, but the wife wasn't going for it. 

[Chris 2,162]

I have to admit, I don't get it. So what makes this "currency" valuable? Is it backed by gold or is it just speculative, and the bubble could burst any time?

[Kevin 334]

It is backed by support.  In theory it could bust, some people think of it as a world currency.  

[Hal 341]

I see what your saying Kevin but there is a whole lot of truth to the bit coin “ mining “ as with the Watkins thing going on and the amount of computer banks needed eating up a massive amount of power .  I mean from what i have gleaned from the whole thing is there is a give and take in the bit coin trading etc and if one wants to take part its all good . Another but is and , only my opinion of course , is where is the tangible value in an intangible coin other than in the virtual world . As with the Tesla vehicle ... yes it’s electric powered but the “power “ is fossil fuel based at it’s source so it’s value is pretty much moot . 
Kevin , we know each other well enough that you know I would never smart ass you  ( well at least not here lol ) but , honest question here  , what and where is the “ support”  that backs the bit coin ... and remember i’m not as tech savvy as you are when you answer . 

[MsKreed 1,179]

14 hours ago, Chris said:

I have to admit, I don't get it. So what makes this "currency" valuable? Is it backed by gold or is it just speculative, and the bubble could burst any time?

Crypto? Or are you just reflecting on the US dollar for the last 40 years?

[Chris 2,162]

Crypto. I don't understand what gives it an actual value. To me it sounds like Amway or raising alpacas. 

[MsKreed 1,179]

The same intangible perception of supply/demand that gives Federal Reserve notes "value" since they ditched the gold standard and started printing by fiat?

[Hal 341]

12 minutes ago, MsKreed said:

The same intangible perception of supply/demand that gives Federal Reserve notes "value" since they ditched the gold standard and started printing by fiat?

Great point ! And , I do get the bitcoin thing  (may have answered my own question to Kevin ) in so far as paying for something with your cell phone by just holding your cell and a scanner removes that much from your bit coin account ... am i looking at this correctly and is this how it works ? Honest question here and not being obstinate just want to understand it . 

[Kevin 334]

With actual cash if the Govt. needs more they just print more. With Crypto only so many coins of each Crypto is available for mining. 

[Kevin 334]

This article explains it a lot better.

 

https://decrypt.co/70031/mark-cuban-dogecoin-will-hit-1-and-become-a-stablecoin?amp=1