Cyrptobro's trying to get me into cryptocurrency with things like "yeah but the price per BTC is suuper low now, just under 20K"
And I'm like "cheap? And where were you when it was still under 9 bucks per coin"
Probaaaabably not even born 
I could never image the prices so to up like this but..
..what more amazes me is all the stupid crypto scams that have been going since 
It's almost like common sense is just thrown out the door and people start believing in magic 
Just because it's happening on the internet with a fancy new technique doesn't mean you can endlessly print money from thin air, it has to come from somewhere
🇳🇱
@stux I made a **lot** of money on crypto.. I invested in ethereum the first day it was released.
Never touched BTC though that one is kinda pointless IMO
@freemo Sure but it has to come from somewhere 😉
@stux That is a fallacy of economics.. wealth is not a fixed quantity, things that provide utility cause wealth to be created (and can also be destroyed)... so no the money doesnt have to "come from somewhere".
@freemo @stux eh. All currency has an origination point.
When you convert BTC to USD, those dollars originate from some source, whether it's the federal reserve or a bank granting credit
It might seem like it materializes out of thin air when it's banks granting credit, but it can disappear back into thin air just as easily if it doesn't have real wealth backing it (land or commodities for this purpose, labor for the larger definition)
As someone who has dealt with the math behind economic models quite a bit I am very careful with my words... Look at what I said again:
> That is a fallacy of economics.. wealth is not a fixed quantity, things that provide utility cause wealth to be created (and can also be destroyed)
Notice I start by talking about wealth, and then only connect that to money/currency... that is very important. Money is not wealth, but it has a relationship to wealth.
Wealth is created (its not out of nowhere though).. the creation of wealth effects the value of money, which over time will usually effect its quantity should there be someone printing it..
The wealth is the important part, the physical amount of currency not so much.
@freemo @stux I understand this perfectly well, and thought I had addressed it adequately
"cryptocurrency" is generally a dollar derivative asset, so at least 2 steps away from any real wealth
In my estimation that's one of the things that makes it so volatile. That and the immense amount of fraud on the cybercurrency exchanges relative to national currencies and regular security exchanges