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LPBBEAR

(685 posts)

2. Bitcoin is a load of crap.

Sun Oct 5, 2025, 07:57 AM

Oct 2025

I've yet to see a logical explanation of why this bullshit scam has any real value in the real world. Lets see if I've got this right.

We buy a bunch of expensive computers.
They consume vast amounts of power while "mining" Bitcoin.
We use those bitcoins to buy stuff.

"That ain't workin', that's the way you do it
Money for nothin' and your chicks for free"

And of course Trump, being the scumbag con artist he is, thinks its a great idea.

Herd Insanity.

I look forward to the day when this crap blows up in its believers faces. 99.999% of them will lose their shorts. .001% of them will walk away with the other 99.999 percent's money.

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Highlight:

Bitcoin hits all-time high above $125,000 [View all] RandiFan1290 Oct 2025 OP

This is Krasnov's economic plan gab13by13 Oct 2025 #1

Bitcoin is a load of crap. LPBBEAR Oct 2025 #2

Yeah, I don't get it either moose65 Oct 2025 #3

Anyone else on here remember the penny stock fad? llmart Oct 2025 #16

Yep, unfortunately I do. Talitha Oct 2025 #21

I am so sorry. llmart Oct 2025 #33

Thanks for your thoughtfuless - no harm, no foul. Talitha Oct 2025 #66

Greater Fool Theory, apparently. C_U_L8R Oct 2025 #31

It is substituting computational hardware and energy consumption for Wealthy Bankers IbogaProject Oct 2025 #51

As I used to say back when Bit coin was worth about $35,000, if you were selling your car Bengus81 Oct 2025 #4

And if you had taken payment in BTC, you would have an asset worth 400% more than you paid for it hueymahl Oct 2025 #18

Which is why its useless as actual currency. Callie1979 Oct 2025 #40

There's going to be another Bankman Fried disaster in the future,doubtfull they'll be Bengus81 Oct 2025 #57

Totally agree - it is not a good currency right now hueymahl Oct 2025 #64

I'd say you should always have a good supply of cash on hand. Callie1979 Oct 2025 #67

LOL...you assuming someone selling a $35K car has it paid off Bengus81 Oct 2025 #56

It's like using shells or any other token, as long as there is trust it works. The electricity/cryptography is trust Blues Heron Oct 2025 #6

Except that bitcoin will NEVER be stable enough to be usable as an actual currency William Seger Oct 2025 #12

All currencies are based on trust, whether it's the full faith and credit of whatever country, piles of gold, etc. Blues Heron Oct 2025 #13

Two things you want from a currency: stability and universal acceptance William Seger Oct 2025 #14

Depends on how you define stability hueymahl Oct 2025 #20

I define stability as NOT being like this: William Seger Oct 2025 #27

But what does a bitcoim actually have to KEEP that trust DonCoquixote Oct 2025 #26

Why does any currency have value? hueymahl Oct 2025 #41

And when the BTC algorithm gets cracked, what will you have then? Callie1979 Oct 2025 #43

that is a theoretical risk with quantum computers coming online hueymahl Oct 2025 #47

So we're to trust an "asset" invented by someone no one knows, Callie1979 Oct 2025 #53

Strong cryptography that says those bitcoins belong to you, like your bank says those dollars are yours Blues Heron Oct 2025 #68

But.... moose65 Oct 2025 #61

Your bank account is just a number on a ledger. The value is in the cryptography. Blues Heron Oct 2025 #69

The danger... lonely bird Oct 2025 #70

Finally another kindred sole on here! hueymahl Oct 2025 #19

Of course, you want more DU members to "come around" William Seger Oct 2025 #28

No, I want everyone to do well hueymahl Oct 2025 #39

If you believe cryptocurrency is a good investment but real currency is not... William Seger Oct 2025 #65

But it would also allow rogue governments like Russia & china to get away with MORE Callie1979 Oct 2025 #42

Banks are already adapting hueymahl Oct 2025 #50

You forgot to mention a salient point: FakeNoose Oct 2025 #23

No currency token is worth anything by itself. they are bits of plastic or paper or cheap alloys. Blues Heron Oct 2025 #32

You just called gold useless & then described some of its uses. Callie1979 Oct 2025 #44

When was the last time you got a gold coin in your change? Blues Heron Oct 2025 #49

"Coin" wasnt one of the uses. Industry uses a LOT of gold. Callie1979 Oct 2025 #52

As a token of exchange it is pretty useless to you or me, except as decoration. Blues Heron Oct 2025 #54

Still Worthless VeryProgressive Oct 2025 #5

It's like a giant slot machine. mdbl Oct 2025 #7

It should have been drowned in it's infancy. Buddyzbuddy Oct 2025 #8

I'd buy the "limited quantity" argument, if it were just Bitcoin. But new cryptocurrencies are being created all the progree Oct 2025 #9

One repeated line I remember from the Pawn Stars show: William Seger Oct 2025 #29

Yup, that too progree Oct 2025 #35

This message was self-deleted by its author Emile Oct 2025 #10

We allknow that someday some people will bluestarone Oct 2025 #11

Gold is tapping $3900 too bucolic_frolic Oct 2025 #15

Bitcoin is tulip mania with electrons. Until you dobleremolque Oct 2025 #17

Coming soon hueymahl Oct 2025 #22

I wonder ....... dobleremolque Oct 2025 #34

I don't understand the point of your question hueymahl Oct 2025 #38

Somethings not right with this economy. Gold and Crypto pinging in lockstep with the markets with high interest rates Cheezoholic Oct 2025 #24

The common denominator is the dollar is being devalued hueymahl Oct 2025 #45

The only way anyone would "lose everything" in '08 is if they SOLD. Callie1979 Oct 2025 #46

I was specifically comparing it to the tech bubble in the late 90's not the housing loan fiasco in '07 Cheezoholic Oct 2025 #59

I personally think Bitcoin is a pyramid scam, Emile Oct 2025 #25

Both. Callie1979 Oct 2025 #48

of course rampartd Oct 2025 #30

The greater fool theory. lostincalifornia Oct 2025 #36

Gonna be interesting when the BTC algorithm is cracked. Callie1979 Oct 2025 #37

It's open source Blues Heron Oct 2025 #58

My brain is still Windows 98 so thats just like a foreign language. Callie1979 Oct 2025 #71

There's one born every minute orangecrush Oct 2025 #55

i own some. a small amount moonshinegnomie Oct 2025 #60

Wait for the Crash Deep State Witch Oct 2025 #62

Trump loves this news. Gimpyknee Oct 2025 #63