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Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
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Topic: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin) (Read 303498 times)
RED-DOG
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
«
Reply #675 on:
January 11, 2018, 06:39:33 PM »
Quote from: DropTheHammer on January 11, 2018, 06:37:24 PM
You are buying a share of a company. So your 0.001% share of the company, bought for £10k, is now only worth £350 because that is all the market values it at. Usually what the last 0.001% was bought for. If loads of people suddenly want to buy into that company - more than who want to sell - supply/demand dictates the value of the shares will rise.
What if I paid for my shares in cash, where is the cash now?
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TightEnd
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
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Reply #676 on:
January 11, 2018, 06:41:53 PM »
Goes through whatever clearing system the exchange you purchased on uses to the seller of the shares you bought
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RED-DOG
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
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Reply #677 on:
January 11, 2018, 06:43:48 PM »
Quote from: TightEnd on January 11, 2018, 06:41:53 PM
Goes through whatever clearing system the exchange you purchased on uses to the seller of the shares you bought
So although I've lost it, it isn't actually lost?
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TightEnd
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
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Reply #678 on:
January 11, 2018, 06:47:25 PM »
For every loser there is a winner
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RED-DOG
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
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Reply #679 on:
January 11, 2018, 06:50:04 PM »
Quote from: TightEnd on January 11, 2018, 06:47:25 PM
For every loser there is a winner
Thank you. That's precisely the point I made before people started explaining it to me.
Oh and Glen, fuck you
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Karabiner
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
«
Reply #680 on:
January 11, 2018, 07:04:43 PM »
Quote from: RED-DOG on January 11, 2018, 06:50:04 PM
Quote from: TightEnd on January 11, 2018, 06:47:25 PM
For every loser there is a winner
Thank you. That's precisely the point I made before people started explaining it to me.
Oh and Glen, fuck you
If you invested your £10K into gold at a time when the market value was £1000 per ounce and suddenly an enormous goldmine was discovered with limitless deposits making gold nowhere near as scarce as it used to be, the price of gold would plummet. The guy who you purchased your gold from would have made his regular commission of ~£200 but all of a sudden your gold is only worth £5K so you have lost £5K but nobody would have "won" it.
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bobAlike
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
«
Reply #681 on:
January 11, 2018, 07:09:51 PM »
Quote from: Karabiner on January 11, 2018, 07:04:43 PM
Quote from: RED-DOG on January 11, 2018, 06:50:04 PM
Quote from: TightEnd on January 11, 2018, 06:47:25 PM
For every loser there is a winner
Thank you. That's precisely the point I made before people started explaining it to me.
Oh and Glen, fuck you
If you invested your £10K into gold at a time when the market value was £1000 per ounce and suddenly an enormous goldmine was discovered with limitless deposits making gold nowhere near as scarce as it used to be, the price of gold would plummet. The guy who you purchased your gold from would have made his regular commission of ~£200 but all of a sudden your gold is only worth £5K so you have lost £5K but nobody would have "won" it.
The person who sold the gold has your ‘ex’ money, it is not lost to him it just means you don’t have it anymore.
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Rupert
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
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Reply #682 on:
January 11, 2018, 07:17:43 PM »
If you go to a fruit and veg market and buy some bananas, you now have bananas and the seller has your money. You then sell your bananas through some private Skype chat after the great banana mining rush of 2018 for 100x what you bought them.
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bobAlike
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
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Reply #683 on:
January 11, 2018, 07:20:42 PM »
Quote from: Rupert on January 11, 2018, 07:17:43 PM
If you go to a fruit and veg market and buy some bananas, you now have bananas and the seller has your money. You then sell your bananas through some private Skype chat after the great banana mining rush of 2018 for 100x what you bought them.
But if you eat the bananas you have converted your banana into not feeling hungry.
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Rupert
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
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Reply #684 on:
January 11, 2018, 07:21:47 PM »
No one actually uses their bananas on something useful, duh
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bobAlike
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
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Reply #685 on:
January 11, 2018, 07:54:27 PM »
Quote from: Rupert on January 11, 2018, 07:21:47 PM
No one actually uses their bananas on something useful, duh
Too funny
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Ah! The element of surprise
RED-DOG
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
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Reply #686 on:
January 11, 2018, 08:37:59 PM »
In other news...
Just been in Sainsburys and swapped 50 raisins for 100 sultanas.
Can't believe the currant exchange rate!
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titaniumbean
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Equity means nothing.
Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
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Reply #687 on:
January 11, 2018, 08:43:15 PM »
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bobAlike
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
«
Reply #688 on:
January 11, 2018, 09:41:03 PM »
Quote from: titaniumbean on January 11, 2018, 08:43:15 PM
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nirvana
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Re: Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)
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Reply #689 on:
January 11, 2018, 10:52:51 PM »
Quote from: RED-DOG on January 11, 2018, 06:50:04 PM
Quote from: TightEnd on January 11, 2018, 06:47:25 PM
For every loser there is a winner
Thank you. That's precisely the point I made before people started explaining it to me.
Oh and Glen, fuck you
Pretty sure that the wink offsets the smile.
By the way, I'm not sure what qualifies tighty to comment on this or that he and bobalikealopolous' collective view means the case is proved.
To show the argument as nonsense we can use an inverse example.
One has a vintage car and paid 5k for it to a guy who had paid 3k for it. It appreciates in value to 50k so you won 45k. Do you follow this bit ? OK, moving on. You are a winner of £45k so there must be a loser right ? Who is the £45k loser ?
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