Quote Originally Posted by grand1001 View Post
I wouldn't write it off as fraudulent just yet because some guy who uses the name "Math" says it is.
Wow, grand, don't take it so personally. That was caustic and unnecessary. What does the name "Math" have to do with anything? I wasn't trying to be insensitive or negative. I'm sorry if it came off that way.

Quote Originally Posted by grand1001 View Post
To say...invest in stocks, land, and whatever else, and to say cryptos are for fools just because it doesn't fall in with a particular line of thinking, is shortsighted and dumb.
No one said that though. However, the other issue is you're presenting it as an analogue to other commodities investments and it's not the same.

It's more like investing in a "concept" (a concept that may or may not be viable on a large scale).

Quote Originally Posted by grand1001 View Post
You go into certain countries in the world, and they take many different currencies for payment.
The main issue is that you are comparing governmentally backed, endorsed, controlled currencies with an entirely different privatized concept in currency (which has many other technical issues as well).


I agree with both Slit and Ben but why attack me for it?

I didn't say it was a "fraud". I did say I could see it being a system which can be manipulated or hacked at some point. And the very nature of how cryptocurrency is "created" is unstable, potentially creates moments of hyperinflation, and works against the notion of preserving the value of a currency.

I am more of the opinion that Slit said above about it being like a form of gambling. That's not necessarily "bad" if you want to do it or enjoy it and have the money. However, I do agree that it has no backbone and no real value. Not in it's current state anyway. I also doubt it ever could be without some governmental support. That's just my take. IJS. No harm no foul.