: the grift that keeps on grifting
Do many cryptofolks still not get it that they're very often getting played for schmucks?
@thedisasterautist I would never call #crypto imaginary money LOL! A good primer on #bitcoin for everyone would be this explanation >>
@thedisasterautist while I’m thankful that I bought very early, I wish I had set up a few mining rigs way back when too. Oh well. Aren’t we about due a #bitcoin halving event any day now?
@bfgreen: Mayhaps. Dunno. Not my cuppa, really. The smart folks put their money into Nvidiia and other gaming and subsequent mining chip manufacturers at the same time as Bitcoin. It's like in the early '90s when the Big Deal was in hardware and in website-building, my supervisor at the Computing Center in college into search engines: Yahoo and then later Google. Then he got into investing in e-commerce very early. He retired in 2010, at 37, worth nearly $120mn, I heard from a mutual.
@bfgreen: It's imaginary like all fiat currencies. It's the Traded-Up Paperclip on grand, if virtual scale, though there're eventually limitless paperclips. They're agreed-on-value-based. They don't produce anything, just sit there and wait. Yes, they accrue value, provided someone wants to pay for them or exchange something for them in the hopes/reckoning that they, too, can find someone to exchange them with.