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ColinC

(11,098 posts)

10. Cryptos are entirely hype based with no real practical use.

Reply to D_Master81 (Reply #9)

Fri Jan 21, 2022, 05:25 PM

Jan 2022

Things like market cap, volume, etc are virtually meaningless when the only determination is how many people buy and sell at various times. There is really no inherent value in the "coins" or "tokens" so the overall market caps and so on cannot be compared to market caps with actual utility.The next big run will be just as short and quick as the last, but the size will be depending on the things you mentioned.

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Crypto Meltdown Erases More Than $1 Trillion in Market Value [View all] Nevilledog Jan 2022 OP

I guess I'm gonna have to put off the Lambo for another year. dawg Jan 2022 #1

I anticipate a year or two before the next crazy bull runs. ColinC Jan 2022 #2

Agree with timeframe D_Master81 Jan 2022 #9

Cryptos are entirely hype based with no real practical use. ColinC Jan 2022 #10

Come now. There are LOTS of practical uses for cryptos jmowreader Jan 2022 #12

Pretty much. ColinC Jan 2022 #17

Practical criminal uses empedocles Jan 2022 #15

+1000 Digital Ponzi scheme lagomorph777 Jan 2022 #21

Yeah, I'm going to have to change my plans to buy that house in Malibu. Haggard Celine Jan 2022 #8

Hmm I haven't heard from "That Guy" at the office who's into crypto lately Shermann Jan 2022 #3

Now you see it, now you don't... lame54 Jan 2022 #4

I can't claim to know much about Bit Coin but it seems kinda like a pyramid scheme to me. panader0 Jan 2022 #5

Well, are you interested in being your own boss... ret5hd Jan 2022 #13

I'm retired, but I was a contractor for my career, first in masonry, then a general. panader0 Jan 2022 #16

What's not to love? CloudWatcher Jan 2022 #6

Tulipmania... orwell Jan 2022 #7

How many times do I have to tell you? jmowreader Jan 2022 #14

Okay that's funny... orwell Jan 2022 #33

Wow, what a surprise. Some here at DU have been telling us to invest in this garbage. lagomorph777 Jan 2022 #11

Seems To Fit The Profile ProfessorGAC Jan 2022 #19

I did well off it, but it is gambling. ColinC Jan 2022 #23

Bwahahahahahahahahahahahahahaha!!! Jirel Jan 2022 #18

I bought about 800 bucks worth of qazplm135 Jan 2022 #20

I got super lucky off of cryptos ColinC Jan 2022 #22

I got 88K bonus back in 2010 qazplm135 Jan 2022 #24

I bought $200 worth madville Jan 2022 #31

Yowza. Want a bouquet of Tulips? Hekate Jan 2022 #25

This has been a down week for crypto and stocks, but not precious metals DFW Jan 2022 #26

Fortune favors the brave. miyazaki Jan 2022 #27

Stop buying Crypto-currencies! Start buying Pseudo-currencies! struggle4progress Jan 2022 #28

Just wait. Xolodno Jan 2022 #29

The Stupid Money is now in NFTs: Student becomes millionaire by turning selfies into NFTs for a joke muriel_volestrangler Jan 2022 #30

Sell now! The loss deduction will be fabulous! Baked Potato Jan 2022 #32

Gee, who ever could have seen that coming? smirkymonkey Jan 2022 #34