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Topic	How is cryptocurrency useful
DoctorVader 03/13/18 1:34:39 PM #28:	Link HT posted... DoctorVader posted... Link HT posted... TheMarthKoopa posted... voldothegr8 posted... The only thing it's useful for is creating ponzi schemes. Why do people forget that mining is a thing Generating free money is a pretty useful thing it's completely cost ineffective energy wise and you're not creating any real value when you mine because coins are only worth what people will pay for them. There are coins that crashed are are now worth zero, mining them is basically generating garbage. Yeah, this is bullshit. lol Mining has a fixed cost and coins don't have fixed value. It's not hard to imagine a time when a coin is worth less than it cost to generate it. How is it bullshit if it's happened before with coins that crashed? There ARE people out there holding worthless coins that cost money to make, you just don't hear about them because this whole thing is ponzi scheme garbage filled with survivorship bias. Because the cost to generate them is still far below the price. There's hardly any coins that reached levels below profitability. You're acting like it costs $5 to make a coin and now the price is $4 and you're losing out. It's more like it's $.10 to generate and now the price has gone from $5 to $2. --- It all just disappears, doesn't it? Everything you are, gone in a moment, like breath on a mirror. - The Doctor <cite>DoctorVader posted [p:897723776] in How is cry... [t:76411358]...</cite> <quote><cite>Link HT posted...</cite> <quote><cite>DoctorVader posted...</cite> <quote><cite>Link HT posted...</cite> <quote><cite>TheMarthKoopa posted...</cite> <quote><cite>voldothegr8 posted...</cite> <quote>The only thing it's useful for is creating ponzi schemes.</quote> Why do people forget that mining is a thing Generating free money is a pretty useful thing</quote> it's completely cost ineffective energy wise and you're not creating any real value when you mine because coins are only worth what people will pay for them. There are coins that crashed are are now worth zero, mining them is basically generating garbage.</quote> Yeah, this is bullshit.</quote> lol Mining has a fixed cost and coins don't have fixed value. It's not hard to imagine a time when a coin is worth less than it cost to generate it. How is it bullshit if it's happened before with coins that crashed? There ARE people out there holding worthless coins that cost money to make, you just don't hear about them because this whole thing is ponzi scheme garbage filled with survivorship bias.</quote> Because the cost to generate them is still far below the price. There's hardly any coins that reached levels below profitability. You're acting like it costs $5 to make a coin and now the price is $4 and you're losing out. It's more like it's $.10 to generate and now the price has gone from $5 to $2. --- It all just disappears, doesn't it? Everything you are, gone in a moment, like breath on a mirror. - The Doctor</quote> ... Copied to Clipboard!
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