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The New Coffee Room

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  3. The Bitcoin/Crypto Thread

The Bitcoin/Crypto Thread

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  • G George K
    5 Jan 2022, 00:10

    @axtremus said in The Bitcoin/Crypto Thread:

    @copper said in The Bitcoin/Crypto Thread:

    Money makes you stupid

    Say, how much money does Donald Trump have?

    About 1/20 that of Michael Bloomberg.

    https://en.wikipedia.org/wiki/List_of_richest_American_politicians

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    Axtremus
    wrote on 5 Jan 2022, 01:27 last edited by
    #188

    @george-k said in The Bitcoin/Crypto Thread:

    @axtremus said in The Bitcoin/Crypto Thread:

    @copper said in The Bitcoin/Crypto Thread:

    Money makes you stupid

    Say, how much money does Donald Trump have?

    About 1/20 that of Michael Bloomberg.

    https://en.wikipedia.org/wiki/List_of_richest_American_politicians

    Fun facts:

    1. Michael Bloomberg was born into less money than Donald Trump was.
    2. Since signing The Giving Pledge, Bloomberg has given to philanthropic causes more than 3x Trump’s net worth in monetary terms.
    C 1 Reply Last reply 5 Jan 2022, 02:34
    • A Axtremus
      5 Jan 2022, 01:27

      @george-k said in The Bitcoin/Crypto Thread:

      @axtremus said in The Bitcoin/Crypto Thread:

      @copper said in The Bitcoin/Crypto Thread:

      Money makes you stupid

      Say, how much money does Donald Trump have?

      About 1/20 that of Michael Bloomberg.

      https://en.wikipedia.org/wiki/List_of_richest_American_politicians

      Fun facts:

      1. Michael Bloomberg was born into less money than Donald Trump was.
      2. Since signing The Giving Pledge, Bloomberg has given to philanthropic causes more than 3x Trump’s net worth in monetary terms.
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      Copper
      wrote on 5 Jan 2022, 02:34 last edited by
      #189

      @axtremus said in The Bitcoin/Crypto Thread:

      Bloomberg has given to philanthropic causes more than 3x Trump’s net worth in monetary terms.

      So what?

      1 Reply Last reply
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        xenon
        wrote on 22 Jan 2022, 02:51 last edited by
        #190

        Crypto seems to have a pretty strong correlation with the market right now. Inflation hedge, it is not.

        1 Reply Last reply
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          Jolly
          wrote on 22 Jan 2022, 14:04 last edited by
          #191

          And in other news...Walmart is getting into the market...

          “Cry havoc and let slip the DOGE of war!”

          Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

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            Axtremus
            wrote on 5 Feb 2022, 21:57 last edited by
            #192

            So ... how is everybody's crypto investments doing?

            Just came across this:
            https://www.cnbc.com/2022/02/05/bitcoin-a-lifeline-for-sex-workers-like-ex-nurse-making-1point3-million.html

            A good, practical use case for cryptocurrency? You be the judge.

            K X 2 Replies Last reply 5 Feb 2022, 22:13
            • A Axtremus
              5 Feb 2022, 21:57

              So ... how is everybody's crypto investments doing?

              Just came across this:
              https://www.cnbc.com/2022/02/05/bitcoin-a-lifeline-for-sex-workers-like-ex-nurse-making-1point3-million.html

              A good, practical use case for cryptocurrency? You be the judge.

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              Klaus
              wrote on 5 Feb 2022, 22:13 last edited by
              #193

              Privacy would be a concern in that use case. Bitcoin payments are very public. There are ways to obfuscate source and destination, but it's not easy.

              1 Reply Last reply
              • A Axtremus
                5 Feb 2022, 21:57

                So ... how is everybody's crypto investments doing?

                Just came across this:
                https://www.cnbc.com/2022/02/05/bitcoin-a-lifeline-for-sex-workers-like-ex-nurse-making-1point3-million.html

                A good, practical use case for cryptocurrency? You be the judge.

                X Offline
                X Offline
                xenon
                wrote on 5 Feb 2022, 23:42 last edited by
                #194

                @axtremus said in The Bitcoin/Crypto Thread:

                So ... how is everybody's crypto investments doing?

                Just came across this:
                https://www.cnbc.com/2022/02/05/bitcoin-a-lifeline-for-sex-workers-like-ex-nurse-making-1point3-million.html

                A good, practical use case for cryptocurrency? You be the judge.

                This is just a way to circumvent laws you don’t agree with.

                LuFins DadL 1 Reply Last reply 6 Feb 2022, 00:39
                • X xenon
                  5 Feb 2022, 23:42

                  @axtremus said in The Bitcoin/Crypto Thread:

                  So ... how is everybody's crypto investments doing?

                  Just came across this:
                  https://www.cnbc.com/2022/02/05/bitcoin-a-lifeline-for-sex-workers-like-ex-nurse-making-1point3-million.html

                  A good, practical use case for cryptocurrency? You be the judge.

                  This is just a way to circumvent laws you don’t agree with.

                  LuFins DadL Offline
                  LuFins DadL Offline
                  LuFins Dad
                  wrote on 6 Feb 2022, 00:39 last edited by
                  #195

                  @xenon said in The Bitcoin/Crypto Thread:

                  @axtremus said in The Bitcoin/Crypto Thread:

                  So ... how is everybody's crypto investments doing?

                  Just came across this:
                  https://www.cnbc.com/2022/02/05/bitcoin-a-lifeline-for-sex-workers-like-ex-nurse-making-1point3-million.html

                  A good, practical use case for cryptocurrency? You be the judge.

                  This is just a way to circumvent laws you don’t agree with.

                  They aren’t laws. It’s private companies like PayPal saying no thanks…

                  The Brad

                  X 1 Reply Last reply 6 Feb 2022, 02:48
                  • LuFins DadL LuFins Dad
                    6 Feb 2022, 00:39

                    @xenon said in The Bitcoin/Crypto Thread:

                    @axtremus said in The Bitcoin/Crypto Thread:

                    So ... how is everybody's crypto investments doing?

                    Just came across this:
                    https://www.cnbc.com/2022/02/05/bitcoin-a-lifeline-for-sex-workers-like-ex-nurse-making-1point3-million.html

                    A good, practical use case for cryptocurrency? You be the judge.

                    This is just a way to circumvent laws you don’t agree with.

                    They aren’t laws. It’s private companies like PayPal saying no thanks…

                    X Offline
                    X Offline
                    xenon
                    wrote on 6 Feb 2022, 02:48 last edited by
                    #196

                    @lufins-dad said in The Bitcoin/Crypto Thread:

                    @xenon said in The Bitcoin/Crypto Thread:

                    @axtremus said in The Bitcoin/Crypto Thread:

                    So ... how is everybody's crypto investments doing?

                    Just came across this:
                    https://www.cnbc.com/2022/02/05/bitcoin-a-lifeline-for-sex-workers-like-ex-nurse-making-1point3-million.html

                    A good, practical use case for cryptocurrency? You be the judge.

                    This is just a way to circumvent laws you don’t agree with.

                    They aren’t laws. It’s private companies like PayPal saying no thanks…

                    This is a vague statement from the article, but it seems like PayPal and venmo didn’t want to be part of sex work transactions.

                    Knox describes herself as “one of the most outspoken sex workers, particularly for crypto.” Her interest kicked off in 2014, which is when she says several vendors, including PayPal, Square Cash, and Venmo, shut down her accounts because of red flags related to sex work.

                    Knox describes herself as “one of the most outspoken sex workers, particularly for crypto.” Her interest kicked off in 2014, which is when she says several vendors, including PayPal, Square Cash, and Venmo, shut down her accounts because of red flags related to sex work.

                    I’m guessing that’s a legal and moral decision.

                    1 Reply Last reply
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                      Axtremus
                      wrote on 6 Feb 2022, 21:07 last edited by
                      #197

                      Another use case for cryptocurrency.

                      North Korea: Missile programme funded through stolen crypto, UN report says
                      https://www.bbc.co.uk/news/world-asia-60281129

                      X 1 Reply Last reply 6 Feb 2022, 21:10
                      • A Axtremus
                        6 Feb 2022, 21:07

                        Another use case for cryptocurrency.

                        North Korea: Missile programme funded through stolen crypto, UN report says
                        https://www.bbc.co.uk/news/world-asia-60281129

                        X Offline
                        X Offline
                        xenon
                        wrote on 6 Feb 2022, 21:10 last edited by
                        #198

                        @axtremus said in The Bitcoin/Crypto Thread:

                        Another use case for cryptocurrency.

                        North Korea: Missile programme funded through stolen crypto, UN report says
                        https://www.bbc.co.uk/news/world-asia-60281129

                        If you don’t have ethical qualms about it - the crypto scene is one big bug bounty right now.

                        Lots of money to be made exploiting weak code.

                        1 Reply Last reply
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                          Axtremus
                          wrote on 9 Feb 2022, 18:14 last edited by
                          #199

                          https://www.vox.com/the-goods/22922511/crypto-nfts-sports-betting-money-hobby

                          Money as a hobby.

                          "Why (mostly) 20- and 30-something dudes made crypto and sports betting their personality."

                          The wealth gap among holders of bitcoin is 100 times worse than the US economy: the top 0.01 percent control 27 percent of the 19 million bitcoin currently in circulation.

                          Not surprised, though probably the first time I see the crypto "wealth gap" called out.

                          X 1 Reply Last reply 9 Feb 2022, 18:22
                          • A Axtremus
                            9 Feb 2022, 18:14

                            https://www.vox.com/the-goods/22922511/crypto-nfts-sports-betting-money-hobby

                            Money as a hobby.

                            "Why (mostly) 20- and 30-something dudes made crypto and sports betting their personality."

                            The wealth gap among holders of bitcoin is 100 times worse than the US economy: the top 0.01 percent control 27 percent of the 19 million bitcoin currently in circulation.

                            Not surprised, though probably the first time I see the crypto "wealth gap" called out.

                            X Offline
                            X Offline
                            xenon
                            wrote on 9 Feb 2022, 18:22 last edited by
                            #200

                            @axtremus said in The Bitcoin/Crypto Thread:

                            https://www.vox.com/the-goods/22922511/crypto-nfts-sports-betting-money-hobby

                            Money as a hobby.

                            "Why (mostly) 20- and 30-something dudes made crypto and sports betting their personality."

                            The wealth gap among holders of bitcoin is 100 times worse than the US economy: the top 0.01 percent control 27 percent of the 19 million bitcoin currently in circulation.

                            Not surprised, though probably the first time I see the crypto "wealth gap" called out.

                            This feels timeless:

                            They seemed to work in tech or finance, mostly, and had come to connect with others over the thing they loved most in the world, the wild force driving the feeding frenzy of people storming the bouncer to get inside: money, and making it as quickly as possible

                            And some of these guys have been making insane amounts of money.

                            1 Reply Last reply
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                              Axtremus
                              wrote on 11 Feb 2022, 00:59 last edited by
                              #201

                              https://www.vice.com/en/article/akvnba/moviepass-20-wants-to-track-your-eyeballs-to-make-sure-you-watch-ads

                              MoviePass 2.0, the idea is to let the users earn cryptocurrency by watching advertisements on their phone, the cryptocurrency can then be cashed in to watch movies in theaters. Proposal includes using the phone’s camera to track your eyeballs to make sure you’re actually watching the advertisements.

                              1 Reply Last reply
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                                Axtremus
                                wrote on 21 Feb 2022, 00:45 last edited by
                                #202

                                From: https://www.elsalvador.com/opinion/caricaturas/alecus/caricatura-de-alecus/897117/2021/

                                alt text
                                (credit: Alecus)

                                I saw that cartoon while looking at https://blog.dshr.org/2022/02/ee380-talk.html

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                                  Axtremus
                                  wrote on 23 Feb 2022, 20:02 last edited by
                                  #203

                                  The Boston FED and MIT released their findings on initial research into a central bank digital currency (CBDC):

                                  https://www.bostonfed.org/news-and-events/press-releases/2022/frbb-and-mit-open-cbdc-phase-one.aspx

                                  The Federal Reserve Bank of Boston and the Digital Currency Initiative at the Massachusetts Institute of Technology today released the findings of their initial technological research into a central bank digital currency, or CBDC. The published research describes a theoretical high-performance and resilient transaction processor for a CBDC that was developed using open-source research software, OpenCBDC. This collaborative effort, known as Project Hamilton, focuses on technological experimentation and does not aim to create a usable CBDC for the United States. The research is separate from the Federal Reserve's Board's evaluation of the pros and cons of a CBDC.
                                  …

                                  Project Hamilton (open-sourced): https://www.bostonfed.org/publications/one-time-pubs/project-hamilton-phase-1-executive-summary.aspx

                                  1 Reply Last reply
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                                    xenon
                                    wrote on 23 Feb 2022, 22:06 last edited by
                                    #204

                                    This whole digital currency thing is confusing.

                                    The central bank effort would be all about modernizing the payment system and creating some extra efficiency in the system. It would probably destroy some value for banks - but may create net benefit for Americans.

                                    Even though it's called digital currency - it's very different from the likes of Bitcoin. That's about sidestepping the state altogether on the topic of currency.

                                    These are very different things.

                                    1 Reply Last reply
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                                      Axtremus
                                      wrote on 9 Mar 2022, 17:18 last edited by
                                      #205

                                      https://www.cnbc.com/2022/03/09/heres-whats-in-bidens-executive-order-on-crypto.html

                                      Biden signed executive order on cryptocurrency.

                                      1 Reply Last reply
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                                        Copper
                                        wrote on 9 Mar 2022, 17:27 last edited by
                                        #206

                                        The Biden administration also wants to explore a digital version of the dollar.

                                        What could go wrong? I'm sure Mr. Biden will do something wonderful.

                                        1 Reply Last reply
                                        • HoraceH Offline
                                          HoraceH Offline
                                          Horace
                                          wrote on 9 Mar 2022, 17:40 last edited by
                                          #207

                                          I wonder how many levels deep you have to go under Biden before you reach the first person who has a clue about crypto.

                                          Education is extremely important.

                                          A jon-nycJ 2 Replies Last reply 4 Apr 2022, 02:57
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