Bitcoin

#151
#151
Thunder Good-Oil said:
That's not interest compounding. But something that declines 50% rises 100% to get back to the pre-dip level.
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that's a fair point. My statement assumes some profit taking returned to USD or other investments.
 
#153
#153
This dominatrix made men mine $1 million in cryptocurrency for her

The woman, who calls herself Theodora, is a financial dominatrix, which means clients — many of whom never meet her in person — derive sexual pleasure from giving her gifts and money. Exchanges of money can range from several dollars in “tributes,” as they are called, to gifts of more than six figures. Some clients even become a “human ATM,” meaning they give her complete control over a bank account.
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wtf
 
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#154
#154
lawgator1 said:
Let's assume that the theory of cryptocurrency is valid for ease of transactions. I think that's illusory because you can already use dollars, euros, etc to conduct transfers of value.

Plus those currencies have regulation and oversight. What happens when the first major fraud scandal hits bitcoin? I don't mean hacking to steal it -- I mean some sort of fraudulent representation of the currency.

The wheels come off when people realize there is ZERO recourse.
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This is yet another good point you raise. I just can't wrap my mind about how this is better from a commercial stand point. I do see how the block chain can be used by govt for more sinister reasons.
 
#155
#155
midnight orange said:
If you look at the history of gold during periods of high inflation like Zimbabwe or the Weimar Republic, gold becomes almost worthless. It's probably worthless in Venezuela now. People don't want gold, they want food and clothes. You'll end up trading a gold coin you paid $1300 for a sack
of potatoes or a pair of worn shoes.
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Gold isn't for times hen you are in galloping inflation. It is for you to preserve your wealth on the other side.
 
#156
#156
Thunder Good-Oil said:
I think that the best thing about crypto-currency is that the state and federal government can't seize those assets. The trade off is that the bad guys can hide and launder their booty as well. Put your money in the bank, in stocks, in real estate and the government can take it. They do the same thing with hard currency too. If you are pulled over for a burned out light bulb and have cash in your vehicle, the government can seize it and presume that you're guilty of something illegal and YOU have to prove your innocence rather than their having to prove your guilt. I'm sure this post goes into my FBI/CIA/World banking/Bilderberger file.
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Ross Ulbrict?

And watch how fast sentiment will change if the US govt starts throwing out RICO charges and money laundering accusations.
 
#157
#157
Vol8188 said:
It's not just about taxes and transparency. It's also about control. If they can control the monetary system they can tax you without you even noticing (inflation).
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You get it.

Govt would love the block chain because they could store every aspect of you life on it and control you. Got something to complain about? The govt can just turn you off like a light switch.
 
#158
#158
DancingOutlaw said:
Gold’s utility is limited. Most of it is turned into jewelry or bullion. It requires a steady supply of new buyers to soak up production or the whole thing falls apart.
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Gold is a diminishing commodity with a steady supply of buyers in India and China. Those are bullish fundamentals.
 
#159
#159
Rasputin_Vol said:
You get it.

Govt would love the block chain because they could store every aspect of you life on it and control you. Got something to complain about? The govt can just turn you off like a light switch.
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I'm not sure your understanding of the blockchain is accurate. Blockchain is governance without human input - it cannot be manipulated. It exists simply as a recorded ledger of transactions.

Bitcoin and the blockchain tech behind it was designed to resist regulation and manipulation. Satoshi's vision was to free the world from gov't oppression and financial corruption.

What's your understanding of it?

And why would Libertarians and cyber punks have such a massive hard-on for something that could give gov't more power?!
 
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#160
#160
SWIL said:
I'm not sure your understanding of the blockchain is accurate. Blockchain is governance without human input - it cannot be manipulated. It exists simply as a recorded ledger of transactions.
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That is correct. I am not arguing that point. However, with thousands of cryptocurrencies already in existence, there is nothing stopping govts from using block chain technology from chronicling your entire life. Every purchase you make. Every transaction. Your entire medical history. And there is nothing to stop them from preventing you from being turned off or from being blocked from any transaction. Who would want to have a record of doing business with someone that is on the govt hit list?

SWIL said:
Bitcoin and the blockchain tech behind it was designed to resist regulation and manipulation. Satoshi's vision was to free the world from gov't oppression and financial corruption.
Click to expand...
Yeah, this Satoshi character... have they ever figured out who this allegedly was?


SWIL said:
And why would Libertarians and cyber punks have such a massive hard-on for something that could give gov't more power?!
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I think the attraction of cryptos with libertarians early on was the idea of a competing currency and of a way to be free of govt currency creation and fluctuation. I'm not so sure if most of them have considered the unintended consequences.

One more thing. With all of this money flowing into cryptos right now, that is also driving innovation and improvements in the technology. Who is to say that most of these govts are not just sitting back and allowing the private sector to improve the technology and then they can come out with their own version of a crypto and mandate that this is the new method of engaging in commerce... without the govts having to invest a single dime in the technology?
 
#161
#161
Rasputin_Vol said:
That is correct. I am not arguing that point. However, with thousands of cryptocurrencies already in existence, there is nothing stopping govts from using block chain technology from chronicling your entire life. Every purchase you make. Every transaction. Your entire medical history. And there is nothing to stop them from preventing you from being turned off or from being blocked from any transaction. Who would want to have a record of doing business with someone that is on the govt hit list?


Yeah, this Satoshi character... have they ever figured out who this allegedly was?

Revelation

I think the attraction of cryptos with libertarians early on was the idea of a competing currency and of a way to be free of govt currency creation and fluctuation. I'm not so sure if most of them have considered the unintended consequences.

One more thing. With all of this money flowing into cryptos right now, that is also driving innovation and improvements in the technology. Who is to say that most of these govts are not just sitting back and allowing the private sector to improve the technology and then they can come out with their own version of a crypto and mandate that this is the new method of engaging in commerce... without the govts having to invest a single dime in the technology?
Click to expand...

Revelation
 
#162
#162
Rasputin_Vol said:
That is correct. I am not arguing that point. However, with thousands of cryptocurrencies already in existence, there is nothing stopping govts from using block chain technology from chronicling your entire life. Every purchase you make. Every transaction. Your entire medical history. And there is nothing to stop them from preventing you from being turned off or from being blocked from any transaction. Who would want to have a record of doing business with someone that is on the govt hit list?


Yeah, this Satoshi character... have they ever figured out who this allegedly was?



I think the attraction of cryptos with libertarians early on was the idea of a competing currency and of a way to be free of govt currency creation and fluctuation. I'm not so sure if most of them have considered the unintended consequences.

One more thing. With all of this money flowing into cryptos right now, that is also driving innovation and improvements in the technology. Who is to say that most of these govts are not just sitting back and allowing the private sector to improve the technology and then they can come out with their own version of a crypto and mandate that this is the new method of engaging in commerce... without the govts having to invest a single dime in the technology?
Click to expand...

"there is nothing stopping govts from using block chain technology from chronicling your entire life."

Hasn't the NSA already been doing this for years?

Bitcoin is difficult, but not impossible to trace. Other currencies gear toward privacy like Monero (XMR) are impossible to trace, even for Uncle Sam's finest.

"And there is nothing to stop them from preventing you from being turned off or from being blocked from any transaction."

They can't do that. Nearly all cryptos are decentralized; no one controls them. That's the whole point of cryptography. Even China saw the futility of trying to control cryptos and lifted their ICO ban in short order.

Yeah, this Satoshi character... have they ever figured out who this allegedly was? No but many think it was a group of two or more who call themselves Satoshi
 
#163
#163
Thank God for cook out millshakes. I have one on more days than i dont.

Wrong thread...dont care.

Strawberry and blueberry cheesecake are off the chain. Troof.

Like if you know the troof.lol...
 
#164
#164
One more thing. With all of this money flowing into cryptos right now, that is also driving innovation and improvements in the technology. Who is to say that most of these govts are not just sitting back and allowing the private sector to improve the technology and then they can come out with their own version of a crypto and mandate that this is the new method of engaging in commerce... without the govts having to invest a single dime in the technology?

That certainly would never happen in the US - the global free market chooses which currency is king. It's been the USD for most of our lifetimes but that is about to change. Russia is attempting something like this with their crypto-ruble; a centralized digital version of their ruble. It's going to fail and be worthless compared to BTC and whichever crypto wins the race to replace the USD as global digital cash.
 
#165
#165
marcusluvsvols said:
Thank God for cook out millshakes. I have one on more days than i dont.

Wrong thread...dont care.

Strawberry and blueberry cheesecake are off the chain. Troof.

Like if you know the troof.lol...
Click to expand...

8748584250349d4ff0151273964acd2e.gif
 
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#170
#170
Rasputin_Vol said:
Gold is a diminishing commodity with a steady supply of buyers in India and China. Those are bullish fundamentals.
Click to expand...

How do you figure it’s diminishing? It’s still being mined, and it’s not as if gold decomposes once it’s made into a necklace.
 
#171
#171
SWIL said:
That certainly would never happen in the US - the global free market chooses which currency is king. It's been the USD for most of our lifetimes but that is about to change. Russia is attempting something like this with their crypto-ruble; a centralized digital version of their ruble. It's going to fail and be worthless compared to BTC and whichever crypto wins the race to replace the USD as global digital cash.
Click to expand...
My immediate concerns are on a national level... not international level. The US govt could come up with a crypto-USD once this version of the USD collapses and force you to conduct all business in the country and pay taxes in that crypto. The central bank can put negative interest rates on the currency (which would kill savers) and can tax every transaction you make.
 
#172
#172
Rasputin_Vol said:
My immediate concerns are on a national level... not international level. The US govt could come up with a crypto-USD once this version of the USD collapses and force you to conduct all business in the country and pay taxes in that crypto. The central bank can put negative interest rates on the currency (which would kill savers) and can tax every transaction you make.
Click to expand...

If this scenario happens, it would mean a full-scale departure from Capitalism and likely a civil war, IMO.

I actually wouldn't put it past a socialist like Bernie to try this. Nothing to worry about with the Trump admin currently, though. I expect there will be some bumps in the road as Uncle Sam tris to get his cut from the crypto craze.
 
#175
#175
marcusluvsvols said:
Thank God for cook out millshakes. I have one on more days than i dont.

Wrong thread...dont care.

Strawberry and blueberry cheesecake are off the chain. Troof.

Like if you know the troof.lol...
Click to expand...

Peanut butter fudge is the only way to go. Best flavor milkshake by far
 
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