I would suggest not using that term, it is completely wrong. âHard Currencyâ, âHard Moneyâ has always mean something physical. BitCoin is not.
In the absence of metallic monies, hard money today often refers to other types of monetary instruments that, to some extent, still behave more like metallic money in fulfilling its role as money on domestic and international marketsâfor example, gold bullion or cryptocurrencies like Bitcoin.
Said one Jim Jones follower to the otherâŚ
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Funny, BitCoin, hard like pudding.
What happened here? Who could have seen that scenario even? 
His blockchain was too small, I guess.
Yeah, a classic rug pull. If a project offers you 20000% interest per year, something probably isnât right. That happens in that space quite a lot. As I already said, most crypto projects are scams or complete pipe dreams.
Unlike what the critics here always project on me, Iâm not a âlibertarianâ I think the space desperately needs more regulation to prevent scams like that.
Is there really so much difference between that and 50000% per few years in case of Bitcoin? What is so much different than being a slightly more time spanned âthe greater foolâ scheme?
Bitcoin has an average appreciation rate of ~200% per year. But that will likely diminish over time as the market capitalization grows and the asset gets adopted.
Bitcoin has actual use, maybe not for you, but clearly for a lot of other people, including a whole country where it is now legal tender. It therefor canât be a âgreater foolâ scheme.
Most crypto currencies are actually greater fool schemes though. If you learn how to separate the two you may make a lot of money, if you fail to do that you will lose it. Hence while a lot of people indeed gamble in the space, if you actually do your research itâs not gambling at all, but investing in a promising technology.
How is this different from growing adaptation of a scheme that is still greater fool scheme, where amount of fools is diminishing?
It does have use, but its value is actually zero guaranteed and usability is restricted, more restricted than your usual home laser printer printed monopoly money, having the same intrinsic value, same as every fake âmoneyâ that nobody will ever guarantee value, value arises only from the scheme innate to the greater fool. Therefore it is not currency, and will not be one. It will be speculative asset, changing hands, untill the greatest fool holds it indefinitely waiting for its value to rise into infinity. And lesser fools will shill it everywhere. Including the president of a third world country.
It is naive to think this will not crash many times in future, and people will lose their money many more times, for people are naive and greedy, and will believe shills and conmen.
A greater fools scheme has no effective use case, Bitcoin has. Itâs a store of value, can be used as a bearer asset to move value, and as a money, a means of exchange.
If any money or asset we have has intrinsic value, itâs actually Bitcoin, as it is directly liked to energy burned to secure it. But all valuation is essentially subjective. I already explained that Bitcoin is not a greater fools scheme and why not.
Again I already explained why it isnât a greater fools scheme in the previous post. At least try to make an actual argument. Just repeating the same flawed conception over and over makes you look rather dim.
I also explained this in previous posts. If you have an asset that is in price discovery you may see some serious volatility. Markets are always short term driven by emotions, that is why it sometimes shoots way above the target when people get euphoric and think it will never stop going up. And it will dump way too deep because they fear it goes to zero. People giving in to this emotions will lose money, tyat is true for all investments, not just crypto. Get a longer time horizon and you will make money.
But value of it is always zero that is quaranteed, the rest is what later coming, more naive fools will give you for it.
The rest is just a design to hold its speculative feature very available to people across internet, geeks and not geeks, who would think of themselves higher than they are.
The energy that is lost costs money and is non refundable. You are losing money, but you are not guaranteed to gain it. If the costs of this are greater than you can receive for it, you have to stop using it. And the cheaper, more energy friendly asset wins the competition.
Markets are driven by a lot more than that. Bitcoin is few things more too. If you stop ignoring issues with it, together with more people, then you would abandon it, selling on top, when you had a chance to get really wealthy.
But we are at the phase when people will have to be rather punished for using it I am afraid. Not by bitcoin itself, but by people who know better than those speculating on it. Doing what China did.
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Ok, letâs see who is right in a couple years. I will bookmark the thread abd remind you.
This all reminds me of the whole Linux story. I use it since 20 years ago , long before most saw the potential. When all the âexpertsâ pretendet that it will go nowhere and there are other more superior operating system. Today it dominates everything, and the plebs donât even notice.
With Bitcoin it will be the same. Suddenly it will be everywhere and the plebs will be equally clue less.
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Not where it first started. On PCs.
Same will be with bitcoin and all cryptos, they are not something better on current market when it comes to currency. It is good for speculation and gambling. these are niches good for it.
But here we are talking about money, not about software that makes your phone or other device do what was expected of it. Its have its own features and people require other things from it.
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Actually no, we are talking about money becoming software. Itâs the internet of money. Itâs inevitable.
El Salvador will not be the last country to adopt it. Soon we will see more joining. Maybe some other country will even adopt a shitcoin, as those leeches are always out there trying to profit from Bitcoins momentum. But in the end Bitcoin will replace the dollar as the global reserve asset, no amounts of tears from you or Lucas will change that 
.
Years from now you will hit yourself why you did not listen to the strange fool on the EVE forums.
Someone who I came into contact in game opened my mind a little regarding Cardano and well I canât agree to some other token investment, I did however step back this week and think to myself, Iâm happy that I tip toed into a tiny amount of Cardano after the discussions he had shared with me over coms last week even though I am still very clueless about crypo/token investing.
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Cardano is probably not the worst investment. I have some ADA as well. But Itâs a bit of a hype project as itâs a 5 year old smart contracts platform that doesnât even have smart contracts yet.
The reason why I made the investment wasnât because Iâm a fan of the project, but because they have incredible marketing and make a lot of other people that canât necessarily judge it think itâs a great project.
Just make sure you sell it before the bull market is over. While Bitcoin might not be the coin that makes you the most % gains on the way up, it is the one that usually retains most of itâs value compared to other coins who will just get obliterated.