Crypto currencies have no intrinsic value. State currencies at least are backed by the state’s ability and willingness to tax. The only value crypto currencies have is created by the hype surrounding them. It’s like the emperor has no clothes. As long as people believe it works but when they don’t it has no value
Crypto currency sounds so confusing and, well…fake.
I mean, it’s generated by computers running billions of calculations? How does that translate to something of value? It sounds like it’s money made from nothing, coined out of thin air. How is it real?
And one coin is worth thousands of dollars? Unless Elon Musk tweets about it, then it LOSES value? WTF?
So I’m guessing Burt must be an economist by training. They’re always the last to admit they don’t know jack about economics. … right after the market analysts.
Such a nasty scam should be recognizable by now to any who remember the internet bubble and that Madoff character. But, I suppose all those new “one born every minute”s out there have to learn their own lessons. …sigh
So, how is bitcoin any more or less “real” than dollars? They are also just electrons flying about between computers. The value is paper money is not tangible, it is a negotiable note based on faith in the US government. Gold is only valuable because we have been told it is, and we believe it, but it’s just dirt that’s pretty when refined. Diamonds are just carbon, the most abundant element in the universe, that is pretty when compressed and polished. Guess my point is, all money is based on our belief in it, not what it actually is. But I agree, Bitcoin sounds like a scam…
There are times like this when I am glad I am too old, too ignorant, and too poor to play the stock market or invest in the bitcoin fantasy. I am fortunate to be one of those Luddites who believe in paying in hard currency for everything. In God We Trust – All Others Pay Cash!
My first time commenting. I just signed up. I could not immediately find info on “rules” or how to change name or make an avatar to replace the (?) image. Any help from the regulars is appreciated.
And for those of you not yet willing to invest in cryptocurrency, we have a lovely analog version available. They come in five cent denominations, with a selection that includes oak, willow, maple, pine, cherry… /s
Smart investment advice begins with “Don’t invest in anything you don’t understand”. I will never invest in crypto currencies of any type for that reason alone.
EasternWoods over 3 years ago
Soon to be Mom and Pop’s Pawn Shoppe
EasternWoods over 3 years ago
Crypto currencies have no intrinsic value. State currencies at least are backed by the state’s ability and willingness to tax. The only value crypto currencies have is created by the hype surrounding them. It’s like the emperor has no clothes. As long as people believe it works but when they don’t it has no value
Bilan over 3 years ago
Mom & Pop’s Panhandling, formerly Mom & Pop’s Cryptocurrency Exchange, formerly Mom & Pop’s Grocery Store.
Superfrog over 3 years ago
I’ll be impressed with cryptocurrency when they start a football match after tossing a bitcoin.
Baarorso over 3 years ago
A mom and pop cryptocurrency store? That sounds like an oxymoron to me! ;D
GiantShetlandPony over 3 years ago
Talk about spending a lot to get nothing.
mikeyman over 3 years ago
Musk says, “It’s a hustle.”
sandpiper over 3 years ago
I’m with Burt. Some things are better left alone. To my mind, toycoin very likely will have a worst case pandemic ending for those infected.
WGillete over 3 years ago
Cryptocurrency is the 21st century version of buying the Brooklyn Bridge,
dot-the-I over 3 years ago
It all started years back when mom and pop swapped out the ol’ cash register for a counter- top wireless credit card terminal.
Sir Ruddy Blighter, Jr. over 3 years ago
Crypto currency sounds so confusing and, well…fake.
I mean, it’s generated by computers running billions of calculations? How does that translate to something of value? It sounds like it’s money made from nothing, coined out of thin air. How is it real?
And one coin is worth thousands of dollars? Unless Elon Musk tweets about it, then it LOSES value? WTF?
Andrew Sleeth over 3 years ago
So I’m guessing Burt must be an economist by training. They’re always the last to admit they don’t know jack about economics. … right after the market analysts.
vaughnrl2003 Premium Member over 3 years ago
Such a nasty scam should be recognizable by now to any who remember the internet bubble and that Madoff character. But, I suppose all those new “one born every minute”s out there have to learn their own lessons. …sigh
bbenoit over 3 years ago
So, how is bitcoin any more or less “real” than dollars? They are also just electrons flying about between computers. The value is paper money is not tangible, it is a negotiable note based on faith in the US government. Gold is only valuable because we have been told it is, and we believe it, but it’s just dirt that’s pretty when refined. Diamonds are just carbon, the most abundant element in the universe, that is pretty when compressed and polished. Guess my point is, all money is based on our belief in it, not what it actually is. But I agree, Bitcoin sounds like a scam…
mrsalex over 3 years ago
I’m with Burt
johndifool over 3 years ago
At least it’s not Sneed’s Feed & Seed…
Linguist over 3 years ago
There are times like this when I am glad I am too old, too ignorant, and too poor to play the stock market or invest in the bitcoin fantasy. I am fortunate to be one of those Luddites who believe in paying in hard currency for everything. In God We Trust – All Others Pay Cash!
paranormal over 3 years ago
Is cryptocurrency the kind of currency that you find in an old crypt?
A Hip loving Canadian... over 3 years ago
Soon to be “Mom and Pop’s cyber attack ’R us”
marilynnbyerly over 3 years ago
YouTube singer Chris Mann just did a parody trying to explain bitcoin investment. I felt like Gumby of MONTY PYTHON fame, “My brain hurts!”
Buckeye67 over 3 years ago
Cryptocurrencies due have the seal of approval of Russian hackers.
gpantzer over 3 years ago
My first time commenting. I just signed up. I could not immediately find info on “rules” or how to change name or make an avatar to replace the (?) image. Any help from the regulars is appreciated.
R.R.Bedford over 3 years ago
Krypto-currency… I thought that was money printed with a picture of Superboy’s dog on it!!!
Cactus-Pete over 3 years ago
Saying that they used to be a grocery store would do nothing to boost their business (and perhaps the opposite), so why the expense of the sign?
Malcome1 over 3 years ago
Now a days it seems everyone and their brother are mining for cryptos passively.
briangj2 over 3 years ago
And for those of you not yet willing to invest in cryptocurrency, we have a lovely analog version available. They come in five cent denominations, with a selection that includes oak, willow, maple, pine, cherry… /s
a swino over 3 years ago
You are all invited to consider investing in my new cryptocurrency TOOLIPBULB
mysterysciencefreezer over 3 years ago
I’ve seen Bitcoin ATMs at gas stations. This is closer than we think.
SukieCrandall Premium Member over 3 years ago
Limiting amounts in cryptocurrency exchanges or outlawing them outright would do a lot to stop ransomware attacks.
Fuzzy Kombu over 3 years ago
Cryptocurrencies? Why, I have some wonderful and rare tulip bulbs to sell you!
Sailor46 USN 65-95 over 3 years ago
Money, no matter what you call it, only has value if you can get intrinsic goods for it.
Charlie Fogwhistle over 3 years ago
Smart investment advice begins with “Don’t invest in anything you don’t understand”. I will never invest in crypto currencies of any type for that reason alone.
Seed_drill over 3 years ago
Not even a joke. I passed something called “My Grandpa’s Country Store” in Kings Mtn. NC with a Bitcoin sign out front.