Bitcoin-based online gambling

plommer

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Jan 27, 2010
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The Florida-based company is one of the biggest lenders in the crypto space, claiming to service roughly 1.7 million customers. Celsius is valued at $3.25 billion as of November, following a $750 million funding round led by Canada’s second largest pension fund, Caisse de dépôt et placement du Québec.

🤦
 

plommer

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It's almost like this stuff has no intrinsic value, and as soon as everyone stops pretending it's worth something, it's worth nothing.
Hammer > nail!

Its like some people out there are living in an alternate reality.
 

Tron

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Jan 28, 2010
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Some people cashed out a substantial amount of money from Bitcoin and will use some of those proceeds to buy more once a “bottom” begins to take shape.
 

plommer

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Some people also bought at the top and are crying over losses.
Crypto investing/gambling like everything else has winners and losers (paying off the winners).
The crypto "bro's" make it seem like everyone can win in the end, not possible.
 

Vegas Dave

Not a Real GameLiver
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Jan 28, 2010
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Some people cashed out a substantial amount of money from Bitcoin and will use some of those proceeds to buy more once a “bottom” begins to take shape.
Sure. There will also be first time speculators excited to get in at a "bargain price" compared to previous highs. And corporations/funds coming in for pump and dumps.

But while future fluctuations are still likely in the cards, the intrinsic value of the product still seems to be zero. It is not an elegant solution as a replacement to currency. It is not a reliable store of data. It has failed terribly in spots it has been applied as "official currency". You could even argue it's intrinsic value is actually below zero given the damage and pollution it causes to mine.

Something is worth as much as someone is willing to pay for it, so maybe BTC comes out on top if it can keep winning the PR battle and milking people's FOMO for all it's worth. But there's no substance here.
 

MrMonkey

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Jan 28, 2010
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It's almost like this stuff has no intrinsic value, and as soon as everyone stops pretending it's worth something, it's worth nothing.
Lol but feel the same. Not smart enough to get involved with it but I look at it is the most intangible asset one could own.