@Gazes said:
It's already the national currency of a central american country. Also, the fact that certain countries have banned it probably says more good things about it then bad
Central American Country ... there's real trustworthiness!
Well say what you will, I sold some of my crypto last week and bought some old gold with it.
@streeter said:
You go into a gas station to fill your tank. There is no electricity. So sorry.
That's the way I look at bitcoin. If there's no internet access, you forgot your key, no electricity, your laptop is broken or if you want to buy a Ford but only the Chevy dealer takes bitcoin...you are SOL.
During the great Northeast blackout 16 or 17 years ago, stores couldn't transact because their cash registers and credit card machines wouldn't work. So don't think you're going to transact anything in cash. But you're also definitely not going to be able to spend your gold because the digital balances won't be working either.
@Gazes said:
It's already the national currency of a central american country. Also, the fact that certain countries have banned it probably says more good things about it then bad
Central American Country ... there's real trustworthiness!
Well say what you will, I sold some of my crypto last week and bought some old gold with it.
They're just doubling down on the thread from 4.5 years ago when they were all sure cryptos would have crashed by now.
this thread is good for a laugh. if you are interested in learning about blockchain technology, digital currency, and smart contracts, don't look for factual information in this thread.
If you do some research there are some really interesting projects that could have real world uses. If they break into the mainstream there could be massive profits realized.
@CopperWire said:
this thread is good for a laugh. if you are interested in learning about blockchain technology, digital currency, and smart contracts, don't look for factual information in this thread.
Yeah, it's a little odd coming from a bunch of people who communicate with each other exclusively digitally and who will pay $1000 for 2 cents worth of copper using an electronic check or wire transfer to be so unwilling to even entertain the possibility of digital currencies.
@Pnies20 said:
If you do some research there are some really interesting projects that could have real world uses. If they break into the mainstream there could be massive profits realized.
This is why I've always been a bigger fan of Ethereum than Bitcoin. Ethereum is already being used for smart contracts.
It's here to stay. It's very volatile, has large buy / sell fees, and a disturbingly large quantity of it has been stolen / disappeared into a black hole. If you want to speculate in crypto, have at it. But don't call it investing.
@Elcontador1 said:
It's here to stay. It's very volatile, has large buy / sell fees, and a disturbingly large quantity of it has been stolen / disappeared into a black hole. If you want to speculate in crypto, have at it. But don't call it investing.
It is very volatile.
It does NOT have large buy/sell fees, depending on how you transact it.
Some has been stolen, but I seem to get an email every other day about a coin theft so there's that.
It is more speculating than investing. But the same could be said about a lot of assets from real estate to precious metals to stocks. Not everything is a value stock.
I am more of a old man then a young man. Been investing in stocks for 40 years and have seen a lot of ups and downs in the market. I also play around with cyber currencies. I play with extra money so if it takes a crap oh well my life is not affected. If it goes up lite bitcoin has over the years then my life at least financially would be much better. I compare this time to the gold rush in the 1800's. You have to play to win. I believe crypto is here to stay and the beauty of it is is that the average Joe with 50 dollars can play. It is easy to play because of apps like Robinhood and Coinbase. The younger people like these apps which helps in making crypto popular. I only wish i had bought bitcoin when it was about 10 cents.
Bottom line: Bitcoin has been an abject failure as a currency. Money has three important functions: It needs to be able to store value, be a unit of account, and be a medium of exchange.
Bitcoin completely fails at the first, almost completely at the third, and enough at the second that it would otherwise fail as money.
It is simply too easy for all your Bitcoin to disappear in a way that would be difficult for your dollars. Let's say that one in 10,000 or one in 100,000 loses his password beyond recovery. How many do you suppose have all their dollars, yen, rupees, whatever in cash in their house that gets burgled or burns down?
Bitcoin has been a phenomenally poor store of value, to the great pleasure of those who have owned it. We are alarmed, righty IMO, when our dollar purchases suffer 3% change, that is 3% inflation. Many people are uncomfortable holding dollars for that reason. Bitcoin has not nearly been as reliable. You'd have to be insane to put money you need next month, say for your mortgage payment, in Bitcoin. By the way, gold doesn't belong at the peak of that pyramid. A way to consider the relative risks is to consider how much over coverage you'd need to keep next month's mortgage payment in that investment to be confident you'd be able to pay your mortgage. A FDIC-insured savings account would need 0%, government bonds not much more, but would you feel safe having only 10% more in gold in losing that would mean losing your house? Is 100% adequate for Bitcoin, or is 200% more reasonable. It is not a store of value.
Finally, it is rarely a medium of exchange. Vanishingly few businesses will accept Bitcoin as payment, and most of those are gimmicks, designed to attract attention.
Bitcoin may be, and may have been, a great way to make money. It's not a currency.
@daltex said:
Bottom line: Bitcoin has been an abject failure as a currency. Money has three important functions: It needs to be able to store value, be a unit of account, and be a medium of exchange.
Bitcoin completely fails at the first, almost completely at the third, and enough at the second that it would otherwise fail as money.
It is simply too easy for all your Bitcoin to disappear in a way that would be difficult for your dollars. Let's say that one in 10,000 or one in 100,000 loses his password beyond recovery. How many do you suppose have all their dollars, yen, rupees, whatever in cash in their house that gets burgled or burns down?
Bitcoin has been a phenomenally poor store of value, to the great pleasure of those who have owned it. We are alarmed, righty IMO, when our dollar purchases suffer 3% change, that is 3% inflation. Many people are uncomfortable holding dollars for that reason. Bitcoin has not nearly been as reliable. You'd have to be insane to put money you need next month, say for your mortgage payment, in Bitcoin. By the way, gold doesn't belong at the peak of that pyramid. A way to consider the relative risks is to consider how much over coverage you'd need to keep next month's mortgage payment in that investment to be confident you'd be able to pay your mortgage. A FDIC-insured savings account would need 0%, government bonds not much more, but would you feel safe having only 10% more in gold in losing that would mean losing your house? Is 100% adequate for Bitcoin, or is 200% more reasonable. It is not a store of value.
Finally, it is rarely a medium of exchange. Vanishingly few businesses will accept Bitcoin as payment, and most of those are gimmicks, designed to attract attention.
Bitcoin may be, and may have been, a great way to make money. It's not a currency.
You could say the same about Zimbabwe dollars and Weimar marks.
So, what you're saying is that bitcoin is more like gold. Digital gold. I think we're fine with that.
@Pnies20 said:
If you do some research there are some really interesting projects that could have real world uses. If they break into the mainstream there could be massive profits realized.
This is why I've always been a bigger fan of Ethereum than Bitcoin. Ethereum is already being used for smart contracts.
The problem with ETH is the move to proof-of-stake.
I'm still building a position via mining, but I really don't like the concept of PoS.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
@Pnies20 said:
If you do some research there are some really interesting projects that could have real world uses. If they break into the mainstream there could be massive profits realized.
This is why I've always been a bigger fan of Ethereum than Bitcoin. Ethereum is already being used for smart contracts.
The problem with ETH is the move to proof-of-stake.
I'm still building a position via mining, but I really don't like the concept of PoS.
They have to do something about energy costs. Especially with energy prices going up, transaction costs were getting expensive.
@Pnies20 said:
If you do some research there are some really interesting projects that could have real world uses. If they break into the mainstream there could be massive profits realized.
This is why I've always been a bigger fan of Ethereum than Bitcoin. Ethereum is already being used for smart contracts.
The problem with ETH is the move to proof-of-stake.
I'm still building a position via mining, but I really don't like the concept of PoS.
They have to do something about energy costs. Especially with energy prices going up, transaction costs were getting expensive.
I just don't think PoS is the answer. Isn't the point of crypto to be decentralized? How does requiring 32 ETH for a staking node push decentralization? 32 ETH is over $128k right now lol. PoS takes ETH from something anybody can get into, and concentrates it into the hands of those that already have a lot of ETH, or the $ to buy in.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
@streeter said:
You go into a gas station to fill your tank. There is no electricity. So sorry.
That's the way I look at bitcoin. If there's no internet access, you forgot your key, no electricity, your laptop is broken or if you want to buy a Ford but only the Chevy dealer takes bitcoin...you are SOL.
During the great Northeast blackout 16 or 17 years ago, stores couldn't transact because their cash registers and credit card machines wouldn't work. So don't think you're going to transact anything in cash. But you're also definitely not going to be able to spend your gold because the digital balances won't be working either.
The entire argument is moot since, without electricity, you won't be pumping any gas anyway!
@streeter said:
You go into a gas station to fill your tank. There is no electricity. So sorry.
That's the way I look at bitcoin. If there's no internet access, you forgot your key, no electricity, your laptop is broken or if you want to buy a Ford but only the Chevy dealer takes bitcoin...you are SOL.
During the great Northeast blackout 16 or 17 years ago, stores couldn't transact because their cash registers and credit card machines wouldn't work. So don't think you're going to transact anything in cash. But you're also definitely not going to be able to spend your gold because the digital balances won't be working either.
The entire argument is moot since, without electricity, you won't be pumping any gas anyway!
Yes, of course. I believe the OP acknowledged that, but that is not the only transaction. It was amazing how crippling the situation was even before it got dark.
And so the debate continues.... Yes, no, maybe, what if?, invest, divest, could happen, won't happen.... Fun to watch, though I prefer looking at what I have. Cheers, RickO
The problem with this is a large amount of people have already made money. Your current prediction is already obsolete and wrong for a large number of crypto investors. Many people have been prudent and taken a piece of their huge 100%, 200%, 1000% gains and diversified. Smugly sitting back predicting an eventual collapse (which almost every investment type has at some point) really misses the point that fortunes have already been made and secured. And on a smaller scale many people have jumped started their investment portfolios by trading crypto. It's like laughing at Elon Musk when his stock collapses 80% and he is only worth 50 billion dollars now.
The problem with this is a large amount of people have already made money. Your current prediction is already obsolete and wrong for a large number of crypto investors. Many people have been prudent and taken a piece of their huge 100%, 200%, 1000% gains and diversified. Smugly sitting back predicting an eventual collapse (which almost every investment type has at some point) really misses the point that fortunes have already been made and secured. And on a smaller scale many people have jumped started their investment portfolios by trading crypto. It's like laughing at Elon Musk when his stock collapses 80% and he is only worth 50 billion dollars now.
What’s happened in past no indication of future. Furthermore not everybody is a billionaire like Musk or has funds invest in that. But if u thinks it’s a such a super deal maybe u should go buy some.
really misses the point that fortunes have already been made and secured. And on a smaller scale many people have jumped started their investment portfolios by trading crypto. It's like laughing at Elon Musk when his stock collapses 80% and he is only worth 50 billion dollars now.
People just don't want to admit they were wrong. The thread 5 years ago proves it. But instead of just admitting it, they turn the 5 year window into 10 or 20. Eventually...the sun explodes and they were right!
@Cougar1978 said:
Where is it taken as legal tender? Never seen it taken at a show. I don’t mean the online stuff I mean in real world…McD, Walmart….
See the link I posted above. Some gas stations are taking it.
To whatever extent you can use them through PayPal etc you can also use them at anyplace that accepts PayPal
Try and write a check at a gas station. Checks are not "legal tender" either, by the way.
You can't easily spend bullion either. You generally have to convert it to greenbacks first. Would you make the same claims about gold and silver that you do about cryptos?
And, I know almost everyone here is old (LOL - including me) but any coin dealer at any show could accept it if they wanted to. You just transfer the crypto from one wallet to another. I'm sure the Ohio dealer I mentioned on this thread would have let me pay in any number of Cryptos. You just have to be set up to collect them.
And why are we excluding the "online stuff"? Just because it disproves your point? More and more sites are taking cryptos as payments.
For better or for worse, I believe a few of the crypto currency’s are here to stay but MOST of the several hundred issues are fundamentally worthless.
As for their utility in a power outage? Well, sadly nearly EVERYTHING else we are very much dependent on is powered up and interconnected through the internet, including our health care and banking systems and utilities - so if that happens- we’re In serious trouble regardless.
As for Bitcoins “store of value” and functionality as a currency? Tell the world’s criminals and dark underbelly to go back to smuggling suitcases packed full with greenbacks -through airport security and waiting days for payments, and see how that goes.
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
Well I am still trying figure out how the young Janine Cody on Animal Kingdom got her really nice house in Oceanside. Would she buy your Crypto no she’s too street smart but I bet she would figure some way rip it. Maybe Jay would invest in it if he had a good angle. Or perhaps he plans a heist ripping off some billionaire.
@nwcoast said:
For better or for worse, I believe a few of the crypto currency’s are here to stay but MOST of the several hundred issues are fundamentally worthless.
As for their utility in a power outage? Well, sadly nearly EVERYTHING else we are very much dependent on is powered up and interconnected through the internet, including our health care and banking systems and utilities - so if that happens- we’re In serious trouble regardless.
As for Bitcoins “store of value” and functionality as a currency? Tell the world’s criminals and dark underbelly to go back to smuggling suitcases of packed with greenbacks through airport security and waiting days for payments and see how that goes.
LOL. While I agree with most of your points, I'm not sure that criminals smuggling cash is a relevant concern.
@Cougar1978 said:
Well I am still trying figure out how the young Janine Cody on Animal Kingdom got her house. Would she buy your Crypto no she’s too street smart but I bet she would figure some way rip it.
Since Home Depot takes crypto, she could build it herself with supplies purchased at Home Depot with bitcoin.
My son was talking about Shiba Inu a few weeks ago so we bought $2000 worth for giggles. May be the first time one of my kids had a positive financial effect for me.
It's pretty crazy how teenagers interpret crypto, NFTs, etc. compared to us old guys. It's quite a learning experience to chat with younger folks regarding that stuff. They definitely have a different view of virtual vs. tangible than the old school folks.
@nags said:
My son was talking about Shiba Inu a few weeks ago so we bought $2000 worth for giggles. May be the first time one of my kids had a positive financial effect for me.
It's pretty crazy how teenagers interpret crypto, NFTs, etc. compared to us old guys. It's quite a learning experience to chat with younger folks regarding that stuff. They definitely have a different view of virtual vs. tangible than the old school folks.
This is very true. And it's a little annoying that so many of my contemporaries aren't willing to even try to understand it. We can keep clinging to the "solid gold artifact" as the thing that matters. But younger people (40 and under) are perfectly comfortable with digital assets and digital artifacts. It's not that hard to UNDERSTAND it, even if you don't want to embrace it for yourself.
@nags said:
My son was talking about Shiba Inu a few weeks ago so we bought $2000 worth for giggles. May be the first time one of my kids had a positive financial effect for me.
It's pretty crazy how teenagers interpret crypto, NFTs, etc. compared to us old guys. It's quite a learning experience to chat with younger folks regarding that stuff. They definitely have a different view of virtual vs. tangible than the old school folks.
You did very nice with that entry point. I've been in since May and the past couple weeks have been just insane. Almost 10:1 and climbing since I got in.
The problem with this is a large amount of people have already made money. Your current prediction is already obsolete and wrong for a large number of crypto investors. Many people have been prudent and taken a piece of their huge 100%, 200%, 1000% gains and diversified. Smugly sitting back predicting an eventual collapse (which almost every investment type has at some point) really misses the point that fortunes have already been made and secured. And on a smaller scale many people have jumped started their investment portfolios by trading crypto. It's like laughing at Elon Musk when his stock collapses 80% and he is only worth 50 billion dollars now.
What’s happened in past no indication of future. Furthermore not everybody is a billionaire like Musk or has funds invest in that. But if u thinks it’s a such a super deal maybe u should go buy some.
You can go on PayPal and buy some bitcoin for $10. You can also sell it whenever you want. You dont have to be a billionaire. As far as maybe I should buy some----i did and have used profits to be some coins already.
@nags said:
My son was talking about Shiba Inu a few weeks ago so we bought $2000 worth for giggles. May be the first time one of my kids had a positive financial effect for me.
It's pretty crazy how teenagers interpret crypto, NFTs, etc. compared to us old guys. It's quite a learning experience to chat with younger folks regarding that stuff. They definitely have a different view of virtual vs. tangible than the old school folks.
You did very nice with that entry point. I've been in since May and the past couple weeks have been just insane. Almost 10:1 and climbing since I got in.
The one guy at the coin show was up to 1 billion Shiba Inu LOL
What’s happened in past no indication of future. Furthermore not everybody is a billionaire like Musk or has funds invest in that. But if u thinks it’s a such a super deal maybe u should go buy some.
You can go on PayPal and buy some bitcoin for $10. You can also sell it whenever you want. You dont have to be a billionaire. As far as maybe I should buy some----i did and have used profits to be some coins already.
The Crypto argument is right up there with CAC as a quasi-religious argument. People who want to just reject it out of hand don't want to even think about it for 5 minutes.
It's a little ironic. Try to explain to a non-collector why you just paid $1500 for a 1909-S VDB cent. You'd think collectors, who are viewed as irrational by non-collectors, would TRY to be more understanding.
The one guy at the coin show was up to 1 billion Shiba Inu LOL
That’s not that much. These suckers are cheap. My $2000 bought something like 160,000,000 at that time.
I bought 500 million for like a 1000$ a while ago. I sold off when It went 10x, and then bought back in with like 600 bucks. That 600 is now 5k. I could have held it and made so much more, but I was at a comfortable profit level, and decided to take my winnings.
@nwcoast said:
For better or for worse, I believe a few of the crypto currency’s are here to stay but MOST of the several hundred issues are fundamentally worthless.
By my count there are now over 14,000 cryptos that are fundamentally worthless.
@nwcoast said:
For better or for worse, I believe a few of the crypto currency’s are here to stay but MOST of the several hundred issues are fundamentally worthless.
By my count there are now over 14,000 cryptos that are fundamentally worthless.
But the cumulative value of all cryptos is over $2 trillion. There will be winners and there will be losers. Remember when GM went bankrupt? Sears? There are always winners and losers. But this is potentially like being on Wall Street in the 19th century. How many of those companies survived?
On May 17, 1792, twenty four brokers signed the Buttonwood Agreement, which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales. The earliest securities traded were mostly governmental securities such as War Bonds from the Revolutionary War and First Bank of the United States stock,[9] although Bank of New York stock was a non-governmental security traded in the early days.[10] The Bank of North America, along with the First Bank of the United States and the Bank of New York, were the first shares traded on the New York Stock Exchange.[11]
Comments
Well say what you will, I sold some of my crypto last week and bought some old gold with it.
During the great Northeast blackout 16 or 17 years ago, stores couldn't transact because their cash registers and credit card machines wouldn't work. So don't think you're going to transact anything in cash. But you're also definitely not going to be able to spend your gold because the digital balances won't be working either.
As per my original post, the Ohio dealer I was talking about takes cryptos on his coin website. So, there's at least one dealer who does...
They're just doubling down on the thread from 4.5 years ago when they were all sure cryptos would have crashed by now.
Which time…China has banned BTC five times now
“ I'm more concerned about the collapse of the dollar than I am the collapse of crypto. “
It’s all relative. The US Dollar has to stop appreciating before it can collapse. The USD will be around longer than BTC.
this thread is good for a laugh. if you are interested in learning about blockchain technology, digital currency, and smart contracts, don't look for factual information in this thread.
If you do some research there are some really interesting projects that could have real world uses. If they break into the mainstream there could be massive profits realized.
BHNC #248 … 130 and counting.
Yeah, it's a little odd coming from a bunch of people who communicate with each other exclusively digitally and who will pay $1000 for 2 cents worth of copper using an electronic check or wire transfer to be so unwilling to even entertain the possibility of digital currencies.
This is why I've always been a bigger fan of Ethereum than Bitcoin. Ethereum is already being used for smart contracts.
It's here to stay. It's very volatile, has large buy / sell fees, and a disturbingly large quantity of it has been stolen / disappeared into a black hole. If you want to speculate in crypto, have at it. But don't call it investing.
It is more speculating than investing. But the same could be said about a lot of assets from real estate to precious metals to stocks. Not everything is a value stock.
I am more of a old man then a young man. Been investing in stocks for 40 years and have seen a lot of ups and downs in the market. I also play around with cyber currencies. I play with extra money so if it takes a crap oh well my life is not affected. If it goes up lite bitcoin has over the years then my life at least financially would be much better. I compare this time to the gold rush in the 1800's. You have to play to win. I believe crypto is here to stay and the beauty of it is is that the average Joe with 50 dollars can play. It is easy to play because of apps like Robinhood and Coinbase. The younger people like these apps which helps in making crypto popular. I only wish i had bought bitcoin when it was about 10 cents.
Bottom line: Bitcoin has been an abject failure as a currency. Money has three important functions: It needs to be able to store value, be a unit of account, and be a medium of exchange.
Bitcoin completely fails at the first, almost completely at the third, and enough at the second that it would otherwise fail as money.
It is simply too easy for all your Bitcoin to disappear in a way that would be difficult for your dollars. Let's say that one in 10,000 or one in 100,000 loses his password beyond recovery. How many do you suppose have all their dollars, yen, rupees, whatever in cash in their house that gets burgled or burns down?
Bitcoin has been a phenomenally poor store of value, to the great pleasure of those who have owned it. We are alarmed, righty IMO, when our dollar purchases suffer 3% change, that is 3% inflation. Many people are uncomfortable holding dollars for that reason. Bitcoin has not nearly been as reliable. You'd have to be insane to put money you need next month, say for your mortgage payment, in Bitcoin. By the way, gold doesn't belong at the peak of that pyramid. A way to consider the relative risks is to consider how much over coverage you'd need to keep next month's mortgage payment in that investment to be confident you'd be able to pay your mortgage. A FDIC-insured savings account would need 0%, government bonds not much more, but would you feel safe having only 10% more in gold in losing that would mean losing your house? Is 100% adequate for Bitcoin, or is 200% more reasonable. It is not a store of value.
Finally, it is rarely a medium of exchange. Vanishingly few businesses will accept Bitcoin as payment, and most of those are gimmicks, designed to attract attention.
Bitcoin may be, and may have been, a great way to make money. It's not a currency.
You could say the same about Zimbabwe dollars and Weimar marks.
So, what you're saying is that bitcoin is more like gold. Digital gold. I think we're fine with that.
The problem with ETH is the move to proof-of-stake.
I'm still building a position via mining, but I really don't like the concept of PoS.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
They have to do something about energy costs. Especially with energy prices going up, transaction costs were getting expensive.
I just don't think PoS is the answer. Isn't the point of crypto to be decentralized? How does requiring 32 ETH for a staking node push decentralization? 32 ETH is over $128k right now lol. PoS takes ETH from something anybody can get into, and concentrates it into the hands of those that already have a lot of ETH, or the $ to buy in.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
There are thousands of Qs about crypto
I can answer no to three simple:
Do you trust the pos entity?
Do you trust the original bitcoin code that the anonymous developer does not have an undetectable backdoor?
Is crypto stable enough to be used as a currency?
Cryptos, especially Bitcoin, will no doubt increase substantially in the future.
That said, this old Gold Bug just cannot make sense in buying any of it.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Collapse
Keep saying it. You may someday be right...or not.
I'm still waiting for the $5000 gold that everyone promised me. And the $100 silver. I must have missed that also.
The entire argument is moot since, without electricity, you won't be pumping any gas anyway!
LOL. The number of online merchants accepting BTC has been exploding lately.
Yes, of course. I believe the OP acknowledged that, but that is not the only transaction. It was amazing how crippling the situation was even before it got dark.
And so the debate continues.... Yes, no, maybe, what if?, invest, divest, could happen, won't happen.... Fun to watch, though I prefer looking at what I have.
Cheers, RickO
The problem with this is a large amount of people have already made money. Your current prediction is already obsolete and wrong for a large number of crypto investors. Many people have been prudent and taken a piece of their huge 100%, 200%, 1000% gains and diversified. Smugly sitting back predicting an eventual collapse (which almost every investment type has at some point) really misses the point that fortunes have already been made and secured. And on a smaller scale many people have jumped started their investment portfolios by trading crypto. It's like laughing at Elon Musk when his stock collapses 80% and he is only worth 50 billion dollars now.
What’s happened in past no indication of future. Furthermore not everybody is a billionaire like Musk or has funds invest in that. But if u thinks it’s a such a super deal maybe u should go buy some.
really misses the point that fortunes have already been made and secured. And on a smaller scale many people have jumped started their investment portfolios by trading crypto. It's like laughing at Elon Musk when his stock collapses 80% and he is only worth 50 billion dollars now.
People just don't want to admit they were wrong. The thread 5 years ago proves it. But instead of just admitting it, they turn the 5 year window into 10 or 20. Eventually...the sun explodes and they were right!
Where is it taken as legal tender? Never seen it taken at a show. I don’t mean the online stuff I mean in real world…McD, Walmart….
See the link I posted above. Some gas stations are taking it.
To whatever extent you can use them through PayPal etc you can also use them at anyplace that accepts PayPal
Try and write a check at a gas station. Checks are not "legal tender" either, by the way.
You can't easily spend bullion either. You generally have to convert it to greenbacks first. Would you make the same claims about gold and silver that you do about cryptos?
And, I know almost everyone here is old (LOL - including me) but any coin dealer at any show could accept it if they wanted to. You just transfer the crypto from one wallet to another. I'm sure the Ohio dealer I mentioned on this thread would have let me pay in any number of Cryptos. You just have to be set up to collect them.
And why are we excluding the "online stuff"? Just because it disproves your point? More and more sites are taking cryptos as payments.
For better or for worse, I believe a few of the crypto currency’s are here to stay but MOST of the several hundred issues are fundamentally worthless.
As for their utility in a power outage? Well, sadly nearly EVERYTHING else we are very much dependent on is powered up and interconnected through the internet, including our health care and banking systems and utilities - so if that happens- we’re In serious trouble regardless.
As for Bitcoins “store of value” and functionality as a currency? Tell the world’s criminals and dark underbelly to go back to smuggling suitcases packed full with greenbacks -through airport security and waiting days for payments, and see how that goes.
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
https://www.buybitcoinworldwide.com/who-accepts-bitcoin/
Here ya go!
Starbucks and Home Depot, among others, accept crypto right in their stores.
So, are you going to now change your view?
Well I am still trying figure out how the young Janine Cody on Animal Kingdom got her really nice house in Oceanside. Would she buy your Crypto no she’s too street smart but I bet she would figure some way rip it. Maybe Jay would invest in it if he had a good angle. Or perhaps he plans a heist ripping off some billionaire.
LOL. While I agree with most of your points, I'm not sure that criminals smuggling cash is a relevant concern.
Since Home Depot takes crypto, she could build it herself with supplies purchased at Home Depot with bitcoin.
My son was talking about Shiba Inu a few weeks ago so we bought $2000 worth for giggles. May be the first time one of my kids had a positive financial effect for me.
It's pretty crazy how teenagers interpret crypto, NFTs, etc. compared to us old guys. It's quite a learning experience to chat with younger folks regarding that stuff. They definitely have a different view of virtual vs. tangible than the old school folks.
This is very true. And it's a little annoying that so many of my contemporaries aren't willing to even try to understand it. We can keep clinging to the "solid gold artifact" as the thing that matters. But younger people (40 and under) are perfectly comfortable with digital assets and digital artifacts. It's not that hard to UNDERSTAND it, even if you don't want to embrace it for yourself.
You did very nice with that entry point. I've been in since May and the past couple weeks have been just insane. Almost 10:1 and climbing since I got in.
Sent my daughter $25 worth of Shib yesterday. Dabbling in a racket.
You can go on PayPal and buy some bitcoin for $10. You can also sell it whenever you want. You dont have to be a billionaire. As far as maybe I should buy some----i did and have used profits to be some coins already.
The one guy at the coin show was up to 1 billion Shiba Inu LOL
so I go to buy a crypto right now and Coinbase is down.
The Crypto argument is right up there with CAC as a quasi-religious argument. People who want to just reject it out of hand don't want to even think about it for 5 minutes.
It's a little ironic. Try to explain to a non-collector why you just paid $1500 for a 1909-S VDB cent. You'd think collectors, who are viewed as irrational by non-collectors, would TRY to be more understanding.
Friend of mine has over a billion, loving it. He gets lambo soon, ha!
That’s not that much. These suckers are cheap. My $2000 bought something like 160,000,000 at that time.
I hate Coinbase. I got hacked through their site last year. Friend of mine got hacked through there last week.
I bought 500 million for like a 1000$ a while ago. I sold off when It went 10x, and then bought back in with like 600 bucks. That 600 is now 5k. I could have held it and made so much more, but I was at a comfortable profit level, and decided to take my winnings.
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By my count there are now over 14,000 cryptos that are fundamentally worthless.
But the cumulative value of all cryptos is over $2 trillion. There will be winners and there will be losers. Remember when GM went bankrupt? Sears? There are always winners and losers. But this is potentially like being on Wall Street in the 19th century. How many of those companies survived?
On May 17, 1792, twenty four brokers signed the Buttonwood Agreement, which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales. The earliest securities traded were mostly governmental securities such as War Bonds from the Revolutionary War and First Bank of the United States stock,[9] although Bank of New York stock was a non-governmental security traded in the early days.[10] The Bank of North America, along with the First Bank of the United States and the Bank of New York, were the first shares traded on the New York Stock Exchange.[11]