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#601
Jan 7 2018 05:40pm
Quote (EndlessSky @ Jan 7 2018 03:27pm)
Speculation here creates no value in society.

All of your “profits” are extortion of others’ market ineptitudes.

I hope that makes all of you feel better about spinning your money in circles.

Speculation to hedge losses is risky but not extortionate.



Enjoy your 5% yearly gains
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#602
Jan 7 2018 05:42pm
Quote (EndlessSky @ Jan 7 2018 06:27pm)
Speculation here creates no value in society.

All of your “profits” are extortion of others’ market ineptitudes.

I hope that makes all of you feel better about spinning your money in circles.

Speculation to hedge losses is risky but not extortionate.


extortion has nothing to do with it. thats being used here like one of those buzzwords like 'wage slavery' that obfuscates whats going on.

speculation is an important aspect of a market economy. https://mises.org/library/speculation
Quote
The primary services that speculators provide are to assume risks, to speed market adjustments and to provide liquidity. In these ways, speculators help the market (or whatever specific sub-market one chooses to define) function more efficiently.


speculating isnt extorting anyone.

maybe one person thinks less of their stock of something or have a shorter time preference. (ie they'd rather have 100 bucks today than the possibility of 1000 bucks next year)
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#603
Jan 7 2018 05:51pm
Quote (cambovenzi @ Jan 7 2018 07:42pm)
extortion has nothing to do with it. thats being used here like one of those buzzwords like 'wage slavery' that obfuscates whats going on.

speculation is an important aspect of a market economy. https://mises.org/library/speculation


speculating isnt extorting anyone.

maybe one person thinks less of their stock of something or have a shorter time preference. (ie they'd rather have 100 bucks today than the possibility of 1000 bucks next year)


I feel like we agree

Speculating stocks has a societal utility because it produces a useful product. Cryptos cant do that on their own though, bc profits solely through crypto sale dont raise the standard of living of a society
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#604
Jan 7 2018 07:37pm
Quote (EndlessSky @ 7 Jan 2018 19:51)
I feel like we agree

Speculating stocks has a societal utility because it produces a useful product. Cryptos cant do that on their own though, bc profits solely through crypto sale dont raise the standard of living of a society


buy xyz coin today u buy lambo and lots of ace of spades champagne tomorrow, benefits workers at those businesses
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#605
Jan 7 2018 11:39pm
Quote (EndlessSky @ Jan 7 2018 03:27pm)
Speculation here creates no value in society.

All of your “profits” are extortion of others’ market ineptitudes.

I hope that makes all of you feel better about spinning your money in circles.

Speculation to hedge losses is risky but not extortionate.


That's the way the market is supposed to work. Wealth is transferred to people who will use it wisely.
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#606
Jan 8 2018 12:21am
Quote (nobrow @ Jan 6 2018 07:10pm)
I edited my last post but Monero is inflationary. I agree with you on deflationary coins.


I'll read about it. Inflationary currency also has another benefit: we can use it to completely eliminate taxes. An economy based on deflation is one based on engineered scarcity. Causing suffering over conceptual representations of means of exchange is evil.
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#607
Jan 8 2018 01:05am
Made 30% profit bouncing 3-4 sat range shitcoins today, gotta love weak handed nerds when btc drops
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#608
Jan 8 2018 01:08am
Quote (inkanddagger @ Jan 7 2018 10:21pm)
I'll read about it. Inflationary currency also has another benefit: we can use it to completely eliminate taxes. An economy based on deflation is one based on engineered scarcity. Causing suffering over conceptual representations of means of exchange is evil.



Im surprised the guy that called people goyim is anti crypto

Like what the fuck are you even doing?
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#609
Jan 8 2018 03:58am
How do I send coins from btc exchange to something like Kucoin ?

I downloaded the google authenticator.

Not sure if I need to send to a wallet first (btc markets says it advises this to ensure I can receive any tokens) -- what does this mean?
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#610
Jan 8 2018 07:29am
Quote (Lil_Gueto @ Jan 8 2018 04:58am)
How do I send coins from btc exchange to something like Kucoin ?

I downloaded the google authenticator.

Not sure if I need to send to a wallet first (btc markets says it advises this to ensure I can receive any tokens) -- what does this mean?


racist
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