A friend in coin club borrowed money invest in coins in 89. Then came the 89 coin market crash and he had to file bankruptcy. But at least those still had a value even if just 20-40c on dollar. Could Crypto go to zero?
does anyone know if any other crypto maker had the moxie to make a physical "coin" other than BTC and is willing to share this info?
i really would like to be able to have some of those tucked away for when i am old and feeble and to look back to see which ones panned out and which ones didn't.
I've been nibbling on the latest dip - safer than going to Vegas.
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
@Type2 said:
Where else can you put in a $1000 and get eight hundred and fifty million coin? 😃 any day now any day.
on the subject of, umm, ya know, obscenely large numbers, here is what the asking price of the most expensive bored ape yacht club nft is being listed for - $2,975,059,999,997,025.00
i guess if you don't ask for all the money on the planet, you probably will never get it. smh
I don’t understand crypto or NFTs. They are digital and have no backing. Their value is based on what? They are just 1s and 0s in the ether… it’s not even a fiat currency. I have thought about dipping my toe in the water, but just have zero trust in it.
What I've never understood is the "coining" (creation) process that uses unbelievable amounts of energy. There doesn't seem to me any outcry from the greenies about that one. Here's what I found with a quick web search (from the Harvard Business Review, May 2021):
On the face of it, the question about energy use is a fair one. According to the Cambridge Center for Alternative Finance (CCAF), Bitcoin currently consumes around 110 Terawatt Hours per year — 0.55% of global electricity production, or roughly equivalent to the annual energy draw of small countries like Malaysia or Sweden. This certainly sounds like a lot of energy. But how much energy should a monetary system consume?
Take the risk but only what you feel you can lose and will not hurt you. Like don’t buy a Starbucks coffee for a week then use that money to buy a little of one then do it on anther one or just buy the one you like read up on them see what there functions are you can buy one then stake it and collect interest on the coins you stake. It’s a little work but once you start looking you will fugue it out. Look it up on YouTube staking bit coin or any coin. This is what I do I look for coins that have A.I capability and with multiple functions and are new so they have a shot of big up tick’s and I’m just dipping in to it myself.
@ms71 said:
What I've never understood is the "coining" (creation) process that uses unbelievable amounts of energy. There doesn't seem to me any outcry from the greenies about that one. Here's what I found with a quick web search (from the Harvard Business Review, May 2021):
On the face of it, the question about energy use is a fair one. According to the Cambridge Center for Alternative Finance (CCAF), Bitcoin currently consumes around 110 Terawatt Hours per year — 0.55% of global electricity production, or roughly equivalent to the annual energy draw of small countries like Malaysia or Sweden. This certainly sounds like a lot of energy. But how much energy should a monetary system consume?
There has been quite a bit of controversy over this actually. From countries shutting down the crypto “mining” industry (China, Russia) in part due to heavy resource usage to local political tensions over cryptomining firms restarting previously idle coal plants (upstate NY), the debate has been getting play in mainstream business news outlets like the WSJ and Bloomberg. Bitcoin does have a cap on the number that can created (this is written into the source code) and there will be diminishing marginal returns as that cap is approached so at some point it won’t be worth the cost, just as physical mines like gold (this is a coin forum, after all!) are eventually exhausted.
Everything waste something in life water, gas, time. We will never stop pointing the finger at any one or things that’s life.
I think it’s control if some one doesn’t have full control they feel it’s a start of them loosing control and it’s a bad thing for the one’s that are trying to stay in control.
Do this, as some one is driving grab the steering wheel see what they will do even if you just put your hand on it and do nothing they will snap after a bit of time and it’s because they want full control. They will not think of it as such but it is.
I started accumulating coins in 1979. (I was nine, my first job. A paper route) Last year I netted just over 14k with crypto. Better than a sharp stick in the eye.
There is absolutely no way in heck I'm even remotely even on coins. I buy way more than I sell. Heck, I don't even sell much. But I like to look at them.
not that i say all the crypto/nft space is legit or has reliable backing but some of the crypto and nft are centered around various projects. some nfts are integrated into games and enhance the users experience/results and can be traded/sold/resold on the secondary market. sometimes they also can yield various crypto and nft in-game from various efforts.
not trying to convince or sell anyone, just sharing some of the stuff i've learned about it so far. rule #1 do your research first.
would be nice to have just the experience i have now, last year at this time. not just to get in early on good crypto/nft but to be able to get active or even more active than i am now in it, including riding the volatile waves of the whole thing.
i'd still like to put together $50-100k for this year and will be seeking various sources to help fund this effort strictly for crpyto/nft. fwiw
The Crypto carnival barkers like to attempt to sway people away from physical gold holdings. "Step right up and get your 100% guaranteed air money right here folks! Pay no attention to the gleaming gold bars in the corner!
for my part, i have a decent amount of awareness about the EXTREME damands some crypto, nft and gaming is having on the energy demands for a respectably large part of the planet. high-end video cards (& other components) have shot up for several years running if my info is correct with nvidea as a companys value being at one of the top lists i saw recently and would be shocked if amd and some others haven't as well.
i can get centered of the negative aspects of things with as much as i'd like to think i know but thankfully experience has taught me to dig deep AND wide and thus, i will post this:
for my part, i have a decent amount of awareness about the EXTREME damands some crypto, nft and gaming is having on the energy demands for a respectably large part of the planet. high-end video cards (& other components) have shot up for several years running if my info is correct with nvidea as a companys value being at one of the top lists i saw recently and would be shocked if amd and some others haven't as well.
i can get centered of the negative aspects of things with as much as i'd like to think i know but thankfully experience has taught me to dig deep AND wide and thus, i will post this:
Every country on the planet should make this crypto and nft illegal. It burns through ridiculous amounts of electricity. High end video boards are damaged by running wide open 24/7 doing mining. The video boards have to be replaced regularly. Think three months to a year. You do not want to buy used high end video boards because it may have been used for mining and been seriously damaged. A few people get rich off this stuff, but all of us have to deal with the damage to the planet.
@BaronVonBaugh said:
Every country on the planet should make this crypto and nft illegal. It burns through ridiculous amounts of electricity. High end video boards are damaged by running wide open 24/7 doing mining. The video boards have to be replaced regularly. Think three months to a year. You do not want to buy used high end video boards because it may have been used for mining and been seriously damaged. A few people get rich off this stuff, but all of us have to deal with the damage to the planet.
for what i know now, mining seems to be the one that requires the mega video cards (i still don't understand why video. cards over processors) i do all my nft/crypto on my notebook (only) that doesn't even have a gpu, just on-board video. it gets the job done with a couple tweaks. (can do basic video editing thankfully)
those video card rigs and the single top-end video cards are just like everything else humans do, push to the extreme. i'm not sure how much worse it all is compared to several other areas of what we do but i think it becomes a problem because it is ONE MORE on top of everything else, let alone what we may still yet come up with.
perhaps it will force us to improve electric provider infrastructure? we ought to figure something out because for 100% the crypto/nft and whatever may spawn from it isn't going anywhere. if the figures are true, all-in, we are at what, 3 trillion+? probably more since cryptos and nft projects and the games that go with them are popping up like crazy.
I find crypto fascinating. Some are BS, others are companies being built as a foundation for the future of the internet, DeFi, etc. and are money makers. It's like buying stock in these companies.
I still don't understand NFT's, virtual real estate, etc., but am working on it....
"My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
@Lakesammman said:
I find crypto fascinating. Some are BS, others are companies being built as a foundation for the future of the internet, DeFi, etc. and are money makers. It's like buying stock in these companies.
I still don't understand NFT's, virtual real estate, etc., but am working on it....
not all NFT are the same. some have function, some don't, i don't fully understand the values some are being driven to but the whole thing will shake out as it will. just hope there isn't any huge financial collapse on the horizon from it all.
i saw some "lands" for games NFT sell yesterday for a popular game in the thousands and tens of thousands. those are games that money is earned from performing activites on those lands by the members/gamers. it is also the members, not the creators that dictate a lot of the sell values (most of the time). also the values of the cryptos on the blockchains they are tied to influence some NFT values.
be VERY careful out there. there are TONS UPON TONS of scam sites that look legit and once you log in, you will lose whatever is in that account(s) with compensation being a VERY steep uphill battle. welcome to decentralized i guess.
i bookmark only vetted links/sites and ONLY use those bookmarks for my activities, to prevent accidents on my part.
has anyone been noticing coinbase's (not pro) changes and additions? wallet, vault, new "experimental" cryptos etc?
look to see if any new ones you aren't familiar with come with this, umm, warning notification (listed right below the project/cryptos name and abbreviation, so it isn't like it is hidden. just take your time to look around with new "assets."
"Trading this asset comes with risks, including price swings and canceled orders. You may even lose the funds you invest."
that does not represent my experience with more well-known/established cryptos. those new ones "seem" to be even riskier than the. non-tradeables (that require a wallet) although they are up there too.
here is a decent crash-course for really, the whole darn thing (so far). brace yourself, 2+ hours. i'm only 1/3 the way through but wanted to link it before i forget. updated (made it all the way through)
one can agree or disagree to the accuracy, intent, specifics etc., but all-in-all, this should leave you feeling more comfortable (understanding) about something rather MAJOR happening within our blue sphere which is having a global impact now and for a long time to come that may pan out ok, once it settles/morphs or could be the mother of all black holes (financially speaking) coming at us like an ELE. only time will tell. like or dislike but ignoring it will not make it go away. fwiw
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the bridging is certainly one of the big hot topics to get done. nothing like creating tech that makes ya feel like you traveled back to 2002; so hopefully bridging can close a little of that gap. despite the unfathomable amount of money going into these assets/sector, i still really have yet to be impressed with any of it. i would hope from supposedly such tech-minded (educated) people, we would see something that would dazzle us and not just moving large chunks of cash around from known asset classes to a newer one(s). not really the kind of forward advancement one would hope would come from our species in this day and age with people we would hope would have wisdom above all (perhaps i'm naive and too critical). i feel i'm pretty reasonable but the lack of care for customers and ultimately the system itself and it's overall well being and financial security in their investments feels like some dystopian movies i've seen. tbh, it feels more like an opportunistic cash-grab (a lot of evidence supports this) with very little delivery.
perhaps over the next 5-10 years it will shake itself out (hopefully w/o too much damage) and be honed but the goal of decentralization seems like more of a 3rd world (sorry folks) attempt of destabilization to one's own benefit but ultimately society demise or perhaps 1st world wealth hiding leading to something much of the same. i'm POSITIVE there is a lot of people doing good and/or trying to pave a solid path but surrounded by chaos with too many idealists thinking they know they way through. (rant over)
i like the commentary about Musk's BOD commenting about the image of the company and supporting non-ESG assets.
bit coin and other non-ESG rigs have been running for many years now. it would be interesting to hear from knowledgeable people in the energy sector, even in this thread but of course also, from energy suppliers about noticeable increases in demand with the rise/fall of cryptos/nft/fiats creation/popularity/price spikes etc.
In 2020, I advertised 2020 eagles for $20.20 in cash or crypto. Not one person took me up with crypto. A fella came in the shop the other day and said he wished he would have taken the offer but $20 was too much at that time.
What is the value of anything if it isn't trading ?
In 2020, I advertised 2020 eagles for $20.20 in cash or crypto. Not one person took me up with crypto. A fella came in the shop the other day and said he wished he would have taken the offer but $20 was too much at that time.
What is the value of anything if it isn't trading ?
You might want to check the numbers before concluding that your anecdote reflects the entire crypto universe. While still relatively modest, there are billions in retail sales using crypto.
The limitation has less to do with the nature of crypto and more the large increase in value. Why would you pay for a burger using crypto when your crypto holdings were doubling in value?
In 2020, I advertised 2020 eagles for $20.20 in cash or crypto. Not one person took me up with crypto. A fella came in the shop the other day and said he wished he would have taken the offer but $20 was too much at that time.
What is the value of anything if it isn't trading ?
And if you are taking about actual trading instead of retail sales, the trade volume is in the trillions of dollars.
In 2020, I advertised 2020 eagles for $20.20 in cash or crypto. Not one person took me up with crypto. A fella came in the shop the other day and said he wished he would have taken the offer but $20 was too much at that time.
What is the value of anything if it isn't trading ?
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that is pretty neat of you do to and i'm blown away you didn't get even one taker, although i would have been wiling to bet if a buyer did come in, it would have been for a large order. how would you have done it, just on coinbase, binance etc?
i'm sure it was/is trading sufficiently enough (for various goods/services) just not ubiquitously.
if these cryptos followed bitcoin and have made actual coins, i bet you would have had some sales of those sporadically.
without getting into any politics, this is a nice summary of the crypto space. sure there are some proper places for it to exist in a digital world but how quickly, easily and perhaps naively does it appear so many billions flood into cryptos/nfts w/o the proper research and understanding. FOMO leads the way?
imo, she does a pretty decent job in this one although one could argue an alarmist position but on the opposite side, just pragmatic and honest, no?
I knew a dancer (local gentleman’s club) couple years back that was part Russian. While out at a nice seafood restaurant with her she wanted funds from me to invest in crypto, really strong sell push that it was going up. Had never heard much about it. Seemed like some kind of tekkie rip off deal. I deflected the convo to an evening accounting class I was teaching at a local community college. Wrote her out a fact sheet on one page illustrating the acctg equation, rules of DR / CR, Finc Stmts, and some basic acctg theory. Told her I am a big picture / bottom line total guy like to see it all in one page. Told her Just like gold, silver, and cash. Asked her give me fact sheet on crypto. What does crypto income flow look like I asked. She said it’s in cyberspace lol. Asked “how do you know some hacker not manipulating it or ripping your account.”
Don’t know of any coin people who do crypto or want engage in its speculation. Most have some gold, silver, or slabbed coins position. Many coming in bourse room buying can only afford stuff $50 and under.
@TurtleCat said:
I have watched the rise of crypto but I just don’t get why people are so into it. It has even less “value” backing it than fiat. Blockchain is here to stay but the crypto that isn’t a governmental one is like the territorial and private coin issues that eventually get shut down.
Then you're not aware of the utility of (some) crypto, and utility has value. Not all cryptos have utility but many do.
@TurtleCat said:
I have watched the rise of crypto but I just don’t get why people are so into it. It has even less “value” backing it than fiat. Blockchain is here to stay but the crypto that isn’t a governmental one is like the territorial and private coin issues that eventually get shut down.
Then you're not aware of the utility of (some) crypto, and utility has value. Not all cryptos have utility but many do.
I see value of some sort in the blockchain but that is not “crypto”. Crypto is something that uses the blockchain. Of course all money has an element of suspended belief and acceptability. The current front running cryptos just haven’t convinced me yet that they are valuable in and of themselves. I also see how they are very hard on the environment for the power and computing requirements involved.
@TurtleCat said:
I have watched the rise of crypto but I just don’t get why people are so into it. It has even less “value” backing it than fiat. Blockchain is here to stay but the crypto that isn’t a governmental one is like the territorial and private coin issues that eventually get shut down.
Then you're not aware of the utility of (some) crypto, and utility has value. Not all cryptos have utility but many do.
I see value of some sort in the blockchain but that is not “crypto”. Crypto is something that uses the blockchain. Of course all money has an element of suspended belief and acceptability. The current front running cryptos just haven’t convinced me yet that they are valuable in and of themselves. I also see how they are very hard on the environment for the power and computing requirements involved.
Correct blockchain is not crypto but again, several cryptos have actual utility if you'd ever look into it. Being Americans its easy to not be aware of some of the need and applications that are more prevalent in other countries.
It's also a myth that crypto is hard on the environment. For the most part, miners cannot be profitable paying retail electric rates using the same grid as everyone else so this is not much of the energy consumption. Most major mining operations have deals to use excess electric production that would otherwise be wasted. And people blissfully ignore or don't care about the amount of energy consumed by the server farms serving the existing traditional banking and investment industries.
I had a reply but the system swallowed it. Not going to write it again. The two crypto farms in the next county to me have won no friends due to excessive noise 24x7 and the destruction of rural land and lowering of property values. Certainly was hard on that environment…
@TurtleCat said:
I had a reply but the system swallowed it. Not going to write it again. The two crypto farms in the next county to me have won no friends due to excessive noise 24x7 and the destruction of rural land and lowering of property values. Certainly was hard on that environment…
@TurtleCat said:
I had a reply but the system swallowed it. Not going to write it again. The two crypto farms in the next county to me have won no friends due to excessive noise 24x7 and the destruction of rural land and lowering of property values. Certainly was hard on that environment…
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no draft?
No, it posted fine but when I went to edit a typo it gave me the “awaiting moderation” message.
@rec78 said:
What's Crypto? Sounds scary to me! I will stick with coins.
It's a make believe money that people trade back and forth in an elaborate Ponzi scheme which is destined to collapse when people wise up.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Comments
Not a speculator on crypto nor is it for me.
A friend in coin club borrowed money invest in coins in 89. Then came the 89 coin market crash and he had to file bankruptcy. But at least those still had a value even if just 20-40c on dollar. Could Crypto go to zero?
Well up yours too buddy
Of note I have been crypto since 1999 after completing cryptography school in the army.
11.5$ Southern Dollars, The little “Big Easy” set
Where else can you put in a $1000 and get eight hundred and fifty million coin? 😃 any day now any day.
Hoard the keys.
does anyone know if any other crypto maker had the moxie to make a physical "coin" other than BTC and is willing to share this info?
i really would like to be able to have some of those tucked away for when i am old and feeble and to look back to see which ones panned out and which ones didn't.
I've been nibbling on the latest dip - safer than going to Vegas.
on the subject of, umm, ya know, obscenely large numbers, here is what the asking price of the most expensive bored ape yacht club nft is being listed for - $2,975,059,999,997,025.00
i guess if you don't ask for all the money on the planet, you probably will never get it. smh
I don’t understand crypto or NFTs. They are digital and have no backing. Their value is based on what? They are just 1s and 0s in the ether… it’s not even a fiat currency. I have thought about dipping my toe in the water, but just have zero trust in it.
What I've never understood is the "coining" (creation) process that uses unbelievable amounts of energy. There doesn't seem to me any outcry from the greenies about that one. Here's what I found with a quick web search (from the Harvard Business Review, May 2021):
On the face of it, the question about energy use is a fair one. According to the Cambridge Center for Alternative Finance (CCAF), Bitcoin currently consumes around 110 Terawatt Hours per year — 0.55% of global electricity production, or roughly equivalent to the annual energy draw of small countries like Malaysia or Sweden. This certainly sounds like a lot of energy. But how much energy should a monetary system consume?
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me....
Take the risk but only what you feel you can lose and will not hurt you. Like don’t buy a Starbucks coffee for a week then use that money to buy a little of one then do it on anther one or just buy the one you like read up on them see what there functions are you can buy one then stake it and collect interest on the coins you stake. It’s a little work but once you start looking you will fugue it out. Look it up on YouTube staking bit coin or any coin. This is what I do I look for coins that have A.I capability and with multiple functions and are new so they have a shot of big up tick’s and I’m just dipping in to it myself.
Hoard the keys.
There has been quite a bit of controversy over this actually. From countries shutting down the crypto “mining” industry (China, Russia) in part due to heavy resource usage to local political tensions over cryptomining firms restarting previously idle coal plants (upstate NY), the debate has been getting play in mainstream business news outlets like the WSJ and Bloomberg. Bitcoin does have a cap on the number that can created (this is written into the source code) and there will be diminishing marginal returns as that cap is approached so at some point it won’t be worth the cost, just as physical mines like gold (this is a coin forum, after all!) are eventually exhausted.
Nothing is as expensive as free money.
Everything waste something in life water, gas, time. We will never stop pointing the finger at any one or things that’s life.
I think it’s control if some one doesn’t have full control they feel it’s a start of them loosing control and it’s a bad thing for the one’s that are trying to stay in control.
Do this, as some one is driving grab the steering wheel see what they will do even if you just put your hand on it and do nothing they will snap after a bit of time and it’s because they want full control. They will not think of it as such but it is.
Hoard the keys.
If the end of coins comes, it will make them more valuable, not less valuable.
Keep your crypt, I'm keeping my coins.
I started accumulating coins in 1979. (I was nine, my first job. A paper route) Last year I netted just over 14k with crypto. Better than a sharp stick in the eye.
There is absolutely no way in heck I'm even remotely even on coins. I buy way more than I sell. Heck, I don't even sell much. But I like to look at them.
peacockcoins
not that i say all the crypto/nft space is legit or has reliable backing but some of the crypto and nft are centered around various projects. some nfts are integrated into games and enhance the users experience/results and can be traded/sold/resold on the secondary market. sometimes they also can yield various crypto and nft in-game from various efforts.
not trying to convince or sell anyone, just sharing some of the stuff i've learned about it so far. rule #1 do your research first.
would be nice to have just the experience i have now, last year at this time. not just to get in early on good crypto/nft but to be able to get active or even more active than i am now in it, including riding the volatile waves of the whole thing.
i'd still like to put together $50-100k for this year and will be seeking various sources to help fund this effort strictly for crpyto/nft. fwiw
The Crypto carnival barkers like to attempt to sway people away from physical gold holdings. "Step right up and get your 100% guaranteed air money right here folks! Pay no attention to the gleaming gold bars in the corner!
fwiw
here is an nft i was issued by wax.
for my part, i have a decent amount of awareness about the EXTREME damands some crypto, nft and gaming is having on the energy demands for a respectably large part of the planet. high-end video cards (& other components) have shot up for several years running if my info is correct with nvidea as a companys value being at one of the top lists i saw recently and would be shocked if amd and some others haven't as well.
i can get centered of the negative aspects of things with as much as i'd like to think i know but thankfully experience has taught me to dig deep AND wide and thus, i will post this:
I collect both. Can't wait for JA to start slapping CACS on my ETH. THKS!
The whole worlds off its rocker, buy Gold™.
anyone get ahold of some of that UMA action past 24 hours or so? gotta love those tears they go on. maybe $250k would be better, no?
although, $1,000-10,000 is quite acceptable to raise funds for. you can send some more my way, if you want.
Every country on the planet should make this crypto and nft illegal. It burns through ridiculous amounts of electricity. High end video boards are damaged by running wide open 24/7 doing mining. The video boards have to be replaced regularly. Think three months to a year. You do not want to buy used high end video boards because it may have been used for mining and been seriously damaged. A few people get rich off this stuff, but all of us have to deal with the damage to the planet.
for what i know now, mining seems to be the one that requires the mega video cards (i still don't understand why video. cards over processors) i do all my nft/crypto on my notebook (only) that doesn't even have a gpu, just on-board video. it gets the job done with a couple tweaks. (can do basic video editing thankfully)
those video card rigs and the single top-end video cards are just like everything else humans do, push to the extreme. i'm not sure how much worse it all is compared to several other areas of what we do but i think it becomes a problem because it is ONE MORE on top of everything else, let alone what we may still yet come up with.
perhaps it will force us to improve electric provider infrastructure? we ought to figure something out because for 100% the crypto/nft and whatever may spawn from it isn't going anywhere. if the figures are true, all-in, we are at what, 3 trillion+? probably more since cryptos and nft projects and the games that go with them are popping up like crazy.
You should be mega-wealthy - you were crypto before crypto was a thing!
I find crypto fascinating. Some are BS, others are companies being built as a foundation for the future of the internet, DeFi, etc. and are money makers. It's like buying stock in these companies.
I still don't understand NFT's, virtual real estate, etc., but am working on it....
not all NFT are the same. some have function, some don't, i don't fully understand the values some are being driven to but the whole thing will shake out as it will. just hope there isn't any huge financial collapse on the horizon from it all.
i saw some "lands" for games NFT sell yesterday for a popular game in the thousands and tens of thousands. those are games that money is earned from performing activites on those lands by the members/gamers. it is also the members, not the creators that dictate a lot of the sell values (most of the time). also the values of the cryptos on the blockchains they are tied to influence some NFT values.
be VERY careful out there. there are TONS UPON TONS of scam sites that look legit and once you log in, you will lose whatever is in that account(s) with compensation being a VERY steep uphill battle. welcome to decentralized i guess.
i bookmark only vetted links/sites and ONLY use those bookmarks for my activities, to prevent accidents on my part.
Steve Wozniak, Apple co-founder, calls Bitcoin ‘pure-gold mathematics’ and the reason shows why crypto could be here to stay
https://fortune.com/2022/03/07/steve-wozniak-calls-bitcoin-pure-gold-mathematics-crypto-nfts/
Alternate link:
https://finance.yahoo.com/news/steve-wozniak-calls-bitcoin-pure-215147260.html
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091
has anyone been noticing coinbase's (not pro) changes and additions? wallet, vault, new "experimental" cryptos etc?
look to see if any new ones you aren't familiar with come with this, umm, warning notification (listed right below the project/cryptos name and abbreviation, so it isn't like it is hidden. just take your time to look around with new "assets."
"Trading this asset comes with risks, including price swings and canceled orders. You may even lose the funds you invest."
that does not represent my experience with more well-known/established cryptos. those new ones "seem" to be even riskier than the. non-tradeables (that require a wallet) although they are up there too.
I was thinking about taking on my website for coins, but then I bought some and watched it. Quacks more like a stock.
here is a decent crash-course for really, the whole darn thing (so far). brace yourself, 2+ hours. i'm only 1/3 the way through but wanted to link it before i forget. updated (made it all the way through)
one can agree or disagree to the accuracy, intent, specifics etc., but all-in-all, this should leave you feeling more comfortable (understanding) about something rather MAJOR happening within our blue sphere which is having a global impact now and for a long time to come that may pan out ok, once it settles/morphs or could be the mother of all black holes (financially speaking) coming at us like an ELE. only time will tell. like or dislike but ignoring it will not make it go away. fwiw
The title of the thread reads like a Jeopardy category. The question is : " Who are people with money, and what are they doing with it ? "
https://www.kitco.com/news/2022-03-28/Ethereum-is-about-to-become-even-more-valuable-The-Merge-is-crypto-s-most-important-event-now.html
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the bridging is certainly one of the big hot topics to get done. nothing like creating tech that makes ya feel like you traveled back to 2002; so hopefully bridging can close a little of that gap. despite the unfathomable amount of money going into these assets/sector, i still really have yet to be impressed with any of it. i would hope from supposedly such tech-minded (educated) people, we would see something that would dazzle us and not just moving large chunks of cash around from known asset classes to a newer one(s). not really the kind of forward advancement one would hope would come from our species in this day and age with people we would hope would have wisdom above all (perhaps i'm naive and too critical). i feel i'm pretty reasonable but the lack of care for customers and ultimately the system itself and it's overall well being and financial security in their investments feels like some dystopian movies i've seen. tbh, it feels more like an opportunistic cash-grab (a lot of evidence supports this) with very little delivery.
perhaps over the next 5-10 years it will shake itself out (hopefully w/o too much damage) and be honed but the goal of decentralization seems like more of a 3rd world (sorry folks) attempt of destabilization to one's own benefit but ultimately society demise or perhaps 1st world wealth hiding leading to something much of the same. i'm POSITIVE there is a lot of people doing good and/or trying to pave a solid path but surrounded by chaos with too many idealists thinking they know they way through. (rant over)
i like the commentary about Musk's BOD commenting about the image of the company and supporting non-ESG assets.
bit coin and other non-ESG rigs have been running for many years now. it would be interesting to hear from knowledgeable people in the energy sector, even in this thread but of course also, from energy suppliers about noticeable increases in demand with the rise/fall of cryptos/nft/fiats creation/popularity/price spikes etc.
True story for coin collectors.
In 2020, I advertised 2020 eagles for $20.20 in cash or crypto. Not one person took me up with crypto. A fella came in the shop the other day and said he wished he would have taken the offer but $20 was too much at that time.
What is the value of anything if it isn't trading ?
You might want to check the numbers before concluding that your anecdote reflects the entire crypto universe. While still relatively modest, there are billions in retail sales using crypto.
https://www.coindesk.com/business/2020/02/03/bitcoin-usage-among-merchants-is-up-according-to-data-from-coinbase-and-bitpay/
The limitation has less to do with the nature of crypto and more the large increase in value. Why would you pay for a burger using crypto when your crypto holdings were doubling in value?
And if you are taking about actual trading instead of retail sales, the trade volume is in the trillions of dollars.
https://www.bloomberg.com/news/articles/2022-02-03/crypto-turnover-s-miserable-month-heralds-weak-exchange-outlooks
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that is pretty neat of you do to and i'm blown away you didn't get even one taker, although i would have been wiling to bet if a buyer did come in, it would have been for a large order. how would you have done it, just on coinbase, binance etc?
i'm sure it was/is trading sufficiently enough (for various goods/services) just not ubiquitously.
if these cryptos followed bitcoin and have made actual coins, i bet you would have had some sales of those sporadically.
without getting into any politics, this is a nice summary of the crypto space. sure there are some proper places for it to exist in a digital world but how quickly, easily and perhaps naively does it appear so many billions flood into cryptos/nfts w/o the proper research and understanding. FOMO leads the way?
imo, she does a pretty decent job in this one although one could argue an alarmist position but on the opposite side, just pragmatic and honest, no?
I knew a dancer (local gentleman’s club) couple years back that was part Russian. While out at a nice seafood restaurant with her she wanted funds from me to invest in crypto, really strong sell push that it was going up. Had never heard much about it. Seemed like some kind of tekkie rip off deal. I deflected the convo to an evening accounting class I was teaching at a local community college. Wrote her out a fact sheet on one page illustrating the acctg equation, rules of DR / CR, Finc Stmts, and some basic acctg theory. Told her I am a big picture / bottom line total guy like to see it all in one page. Told her Just like gold, silver, and cash. Asked her give me fact sheet on crypto. What does crypto income flow look like I asked. She said it’s in cyberspace lol. Asked “how do you know some hacker not manipulating it or ripping your account.”
Don’t know of any coin people who do crypto or want engage in its speculation. Most have some gold, silver, or slabbed coins position. Many coming in bourse room buying can only afford stuff $50 and under.
a glimpse into tracing blockchain wallet/exchanges/nft/crypto transactions and more.
Then you're not aware of the utility of (some) crypto, and utility has value. Not all cryptos have utility but many do.
I see value of some sort in the blockchain but that is not “crypto”. Crypto is something that uses the blockchain. Of course all money has an element of suspended belief and acceptability. The current front running cryptos just haven’t convinced me yet that they are valuable in and of themselves. I also see how they are very hard on the environment for the power and computing requirements involved.
TurtleCat Gold Dollars
Correct blockchain is not crypto but again, several cryptos have actual utility if you'd ever look into it. Being Americans its easy to not be aware of some of the need and applications that are more prevalent in other countries.
It's also a myth that crypto is hard on the environment. For the most part, miners cannot be profitable paying retail electric rates using the same grid as everyone else so this is not much of the energy consumption. Most major mining operations have deals to use excess electric production that would otherwise be wasted. And people blissfully ignore or don't care about the amount of energy consumed by the server farms serving the existing traditional banking and investment industries.
I had a reply but the system swallowed it. Not going to write it again. The two crypto farms in the next county to me have won no friends due to excessive noise 24x7 and the destruction of rural land and lowering of property values. Certainly was hard on that environment…
TurtleCat Gold Dollars
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no draft?
No, it posted fine but when I went to edit a typo it gave me the “awaiting moderation” message.
TurtleCat Gold Dollars
What's Crypto?
Sounds scary to me! I will stick with coins.
It's a make believe money that people trade back and forth in an elaborate Ponzi scheme which is destined to collapse when people wise up.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Kind of like the US Dollar?