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Chitin
Apr 29, 2007

It is no sign of health to be well-adjusted to a profoundly sick society.

Ham Sandwiches posted:

Help me understand something. If you think bitcoins are dumb you are justified in posting whatever you want and it's cool. Just post on SA following the consensus.

If you think those people are wrong about how dumb bitcoins are, you have to provide proof of being a bitcoin investor and your earnings or losses.

Obviously you're not this retarded, so what are you really trying to accomplish?

Hey buuuuuuuddy... you can recognize that something is a terrible idea and not do it. You can also say to someone who is arguing in favor of the obviously bad idea "well, have you done the bad thing? How did it go for you?"

This is not actually a contradiction of any kind. I don't need to hit my dick with a hammer to say "show me how unbruised your dick is, guy on the internet who is in favor of people hitting their own dicks with hammers."

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Chitin
Apr 29, 2007

It is no sign of health to be well-adjusted to a profoundly sick society.
Wait wasn't Ham Sandwiches the dude playing devil's advocate about vaccines causing autism (or rather *he* doesn't think so but just in case...) a couple of weeks ago?

Chitin
Apr 29, 2007

It is no sign of health to be well-adjusted to a profoundly sick society.
You can't cash out without trust and a total lack of anonymity, which are the two major reasons for Bitcoin to exist. I think it's been a long time since anybody claimed it was impossible to make money (at least in paper) speculating on a wildly fluctuating commodity (albeit a deeply stupid one).

Chitin
Apr 29, 2007

It is no sign of health to be well-adjusted to a profoundly sick society.
I refuse to believe that any single human being can be this obtuse. You have got to be trolling.

Anyway, even if you are totally correct to wave away the massive difference between what BTC is worth on paper and what any given user is actually going to get back out, you're still committing a huge logical fallacy.

Say I have a friend who decides to dump all their money into a single penny stock. I tell them that this is a terrible idea. The next day, some Gordon Gecko type picks that particular stock to pump and dump. My friend makes a fortune, retires at 30, and comes to laugh in my face.

The thing is, MY INITIAL ADVICE WAS STILL GOOD ADVICE. His investment was still incredibly dumb, and wasn't less dumb just because he got lucky.

Chitin
Apr 29, 2007

It is no sign of health to be well-adjusted to a profoundly sick society.
I know a dude trying to sell about a thousand dollars in festival tickets right now that, had he used real money, would have been refundable.

But of course he used bitcoin, so...

Chitin
Apr 29, 2007

It is no sign of health to be well-adjusted to a profoundly sick society.
Ham Sandwiches sounds like someone who, pre-crash, would mock people questioning Bernie Madoff's investment firm. "You idiots, it's gone up 15% EVERY YEAR! But here you are, still calling it a scam and telling people not to invest. You said the same thing LAST year but it's still going up!"

The fact that people have not yet en masse realised that the emperor has no clothes does not, in fact, mean that the people pointing out that they can see his dick are the idiots.

Chitin
Apr 29, 2007

It is no sign of health to be well-adjusted to a profoundly sick society.

Ham Sandwiches posted:

Things bitcoins are like:
Tulips
Ponzi Schemes
Gambling in las Vegas

Things bitcoins are NOT like:
sound financial instruments
stocks - those have INHERENT VALUE
currency

Repeat this at $700

And then at $1500

And then at $2500

and then at $4k

And then go "umm just because the numbers, hedge funds, countries, retailers, and people using this keep going up doesn't mean I'm wrong"

and you have the formula the SA forums have enjoyed the past few years. It's loving great.

Your defense against my making fun of you is literally the argument I was making fun of you for making. You didn't even state it in a different way.

Chitin
Apr 29, 2007

It is no sign of health to be well-adjusted to a profoundly sick society.
I mean if anyone has discredited any of the arguments people have made out sure as poo poo hasn't been you...

Chitin
Apr 29, 2007

It is no sign of health to be well-adjusted to a profoundly sick society.
Oh my god please stop mentioning that banks have looked into it as though that's some measure of legitimacy. Banks are enormous organisations. They do a lot of stuff. A ton of it is speculative. "Banks are involved" means literally nothing.

I have no particular background in any of this and no dog in this fight, I just think Ham Sandwiches arguments are so hilariously specious in their face that I feel I have to comment. It's even better because he seems not to realize.

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Chitin
Apr 29, 2007

It is no sign of health to be well-adjusted to a profoundly sick society.

Ham Sandwiches posted:

No I didn't consent to any stupid poo poo, get hosed

THE PACT IS SEALED

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