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The New Coffee Room

  1. TNCR
  2. General Discussion
  3. The Bitcoin/Crypto Thread

The Bitcoin/Crypto Thread

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  • X xenon

    Tide is going out. Lots of naked people.

    jon-nycJ Offline
    jon-nycJ Offline
    jon-nyc
    wrote on last edited by
    #352

    @xenon Yeah. Been very popcorn worthy.

    Only non-witches get due process.

    • Cotton Mather, Salem Massachusetts, 1692
    1 Reply Last reply
    • taiwan_girlT Offline
      taiwan_girlT Offline
      taiwan_girl
      wrote on last edited by
      #353

      I agree with what Warren Buffet has said about crypto. (Plus I dont understand it 555)

      “If you said … for a 1% interest in all the farmland in the United States, pay our group $25 billion, I’ll write you a check this afternoon,” Buffett said. ”[For] $25 billion I now own 1% of the farmland. [If] you offer me 1% of all the apartment houses in the country and you want another $25 billion, I’ll write you a check, it’s very simple. Now if you told me you own all of the bitcoin in the world and you offered it to me for $25 I wouldn’t take it because what would I do with it? I’d have to sell it back to you one way or another. It isn’t going to do anything. The apartments are going to produce rent and the farms are going to produce food.”

      “Assets, to have value, have to deliver something to somebody. And there’s only one currency that’s accepted. You can come up with all kinds of things — we can put up Berkshire coins... but in the end, this is money,” he said, holding up a $20 bill. “And there’s no reason in the world why the United States government … is going to let Berkshire money replace theirs.”

      1 Reply Last reply
      • KlausK Offline
        KlausK Offline
        Klaus
        wrote on last edited by
        #354

        I'm not sure that is a very plausible argument.

        If I'd offer you all of the Euro in the world for $25, it would also be a bad deal and it wouldn't be worth anything.

        taiwan_girlT 1 Reply Last reply
        • KlausK Klaus

          I'm not sure that is a very plausible argument.

          If I'd offer you all of the Euro in the world for $25, it would also be a bad deal and it wouldn't be worth anything.

          taiwan_girlT Offline
          taiwan_girlT Offline
          taiwan_girl
          wrote on last edited by
          #355

          @Klaus said in The Bitcoin/Crypto Thread:

          I'm not sure that is a very plausible argument.

          If I'd offer you all of the Euro in the world for $25, it would also be a bad deal and it wouldn't be worth anything.

          But it is worth something. I can go to pretty much anywhere and buy something with it. I can live if you gave me euros. If I were only had crypto in my pocket, I think I would starve to death, not be able to move around, except by walking (and even then, I dont know where I would get shoes), buy a computer to post on TNCR, pay the internet company that allows me to use an (un-bought) computer , etc. etc.

          KlausK 1 Reply Last reply
          • taiwan_girlT taiwan_girl

            @Klaus said in The Bitcoin/Crypto Thread:

            I'm not sure that is a very plausible argument.

            If I'd offer you all of the Euro in the world for $25, it would also be a bad deal and it wouldn't be worth anything.

            But it is worth something. I can go to pretty much anywhere and buy something with it. I can live if you gave me euros. If I were only had crypto in my pocket, I think I would starve to death, not be able to move around, except by walking (and even then, I dont know where I would get shoes), buy a computer to post on TNCR, pay the internet company that allows me to use an (un-bought) computer , etc. etc.

            KlausK Offline
            KlausK Offline
            Klaus
            wrote on last edited by
            #356

            @taiwan_girl said in The Bitcoin/Crypto Thread:

            @Klaus said in The Bitcoin/Crypto Thread:

            I'm not sure that is a very plausible argument.

            If I'd offer you all of the Euro in the world for $25, it would also be a bad deal and it wouldn't be worth anything.

            But it is worth something. I can go to pretty much anywhere and buy something with it. I can live if you gave me euros. If I were only had crypto in my pocket, I think I would starve to death, not be able to move around, except by walking (and even then, I dont know where I would get shoes), buy a computer to post on TNCR, pay the internet company that allows me to use an (un-bought) computer , etc. etc.

            It isn't worth anything anymore if you would concentrate all Euro in one hand.

            No modern currency has intrinsic value.

            It's all a matter of trust. If people trust crypto, you'll soon be able to buy shoes with it. If people do not, it will end up in the dust bin of history.

            taiwan_girlT 1 Reply Last reply
            • jon-nycJ Offline
              jon-nycJ Offline
              jon-nyc
              wrote on last edited by
              #357

              It’s still not clear it has a use case besides illicit trade and speculation.

              Only non-witches get due process.

              • Cotton Mather, Salem Massachusetts, 1692
              HoraceH 1 Reply Last reply
              • jon-nycJ jon-nyc

                It’s still not clear it has a use case besides illicit trade and speculation.

                HoraceH Offline
                HoraceH Offline
                Horace
                wrote on last edited by
                #358

                @jon-nyc said in The Bitcoin/Crypto Thread:

                It’s still not clear it has a use case besides illicit trade and speculation.

                It's a store of value that could be transported across the galaxy via quantum entanglement computers. Suck it, gold!

                Education is extremely important.

                1 Reply Last reply
                • KlausK Klaus

                  @taiwan_girl said in The Bitcoin/Crypto Thread:

                  @Klaus said in The Bitcoin/Crypto Thread:

                  I'm not sure that is a very plausible argument.

                  If I'd offer you all of the Euro in the world for $25, it would also be a bad deal and it wouldn't be worth anything.

                  But it is worth something. I can go to pretty much anywhere and buy something with it. I can live if you gave me euros. If I were only had crypto in my pocket, I think I would starve to death, not be able to move around, except by walking (and even then, I dont know where I would get shoes), buy a computer to post on TNCR, pay the internet company that allows me to use an (un-bought) computer , etc. etc.

                  It isn't worth anything anymore if you would concentrate all Euro in one hand.

                  No modern currency has intrinsic value.

                  It's all a matter of trust. If people trust crypto, you'll soon be able to buy shoes with it. If people do not, it will end up in the dust bin of history.

                  taiwan_girlT Offline
                  taiwan_girlT Offline
                  taiwan_girl
                  wrote on last edited by
                  #359

                  @Klaus said in The Bitcoin/Crypto Thread:

                  If people trust crypto

                  That is a very big IF.

                  Right now, it goes back to what I said - it really doesn't have any value. I would be very comfortable living on 5000 euro for a month. Somebody trying to live on the equivalent bitcoin (or even a 1.5x equivalent) would have a much more difficult time. I need to take the subway here - Nope. I need to get something to eat - nope. Lets go out with friends for an evening - nope. etc

                  HoraceH 1 Reply Last reply
                  • taiwan_girlT taiwan_girl

                    @Klaus said in The Bitcoin/Crypto Thread:

                    If people trust crypto

                    That is a very big IF.

                    Right now, it goes back to what I said - it really doesn't have any value. I would be very comfortable living on 5000 euro for a month. Somebody trying to live on the equivalent bitcoin (or even a 1.5x equivalent) would have a much more difficult time. I need to take the subway here - Nope. I need to get something to eat - nope. Lets go out with friends for an evening - nope. etc

                    HoraceH Offline
                    HoraceH Offline
                    Horace
                    wrote on last edited by
                    #360

                    @taiwan_girl said in The Bitcoin/Crypto Thread:

                    @Klaus said in The Bitcoin/Crypto Thread:

                    If people trust crypto

                    That is a very big IF.

                    Right now, it goes back to what I said - it really doesn't have any value. I would be very comfortable living on 5000 euro for a month. Somebody trying to live on the equivalent bitcoin (or even a 1.5x equivalent) would have a much more difficult time. I need to take the subway here - Nope. I need to get something to eat - nope. Lets go out with friends for an evening - nope. etc

                    The idea is that you can exchange it for spendable currency. Which you can, fairly easily.

                    Education is extremely important.

                    taiwan_girlT 1 Reply Last reply
                    • X Offline
                      X Offline
                      xenon
                      wrote on last edited by
                      #361

                      Maybe I lack imagination - but I see Bitcoin as the most useful of the bench as a monetary system that's completely divorced from politics.

                      But - we already essentially have that in gold.

                      In terms of spending - I don't see how it makes my life any easier using crypto to buy things online vs. a credit card.

                      If anything - I do want a bank standing behind my card to help me if there's fraud or charges need to be reversed, etc.

                      Maybe I just don't get it - but I've tried.

                      HoraceH 1 Reply Last reply
                      • X xenon

                        Maybe I lack imagination - but I see Bitcoin as the most useful of the bench as a monetary system that's completely divorced from politics.

                        But - we already essentially have that in gold.

                        In terms of spending - I don't see how it makes my life any easier using crypto to buy things online vs. a credit card.

                        If anything - I do want a bank standing behind my card to help me if there's fraud or charges need to be reversed, etc.

                        Maybe I just don't get it - but I've tried.

                        HoraceH Offline
                        HoraceH Offline
                        Horace
                        wrote on last edited by
                        #362

                        @xenon said in The Bitcoin/Crypto Thread:

                        Maybe I lack imagination - but I see Bitcoin as the most useful of the bench as a monetary system that's completely divorced from politics.

                        But - we already essentially have that in gold.

                        In terms of spending - I don't see how it makes my life any easier using crypto to buy things online vs. a credit card.

                        If anything - I do want a bank standing behind my card to help me if there's fraud or charges need to be reversed, etc.

                        Maybe I just don't get it - but I've tried.

                        It’s a currency by techie preppers, for techie preppers.

                        Education is extremely important.

                        1 Reply Last reply
                        • HoraceH Horace

                          @taiwan_girl said in The Bitcoin/Crypto Thread:

                          @Klaus said in The Bitcoin/Crypto Thread:

                          If people trust crypto

                          That is a very big IF.

                          Right now, it goes back to what I said - it really doesn't have any value. I would be very comfortable living on 5000 euro for a month. Somebody trying to live on the equivalent bitcoin (or even a 1.5x equivalent) would have a much more difficult time. I need to take the subway here - Nope. I need to get something to eat - nope. Lets go out with friends for an evening - nope. etc

                          The idea is that you can exchange it for spendable currency. Which you can, fairly easily.

                          taiwan_girlT Offline
                          taiwan_girlT Offline
                          taiwan_girl
                          wrote on last edited by
                          #363

                          @Horace said in The Bitcoin/Crypto Thread:

                          @taiwan_girl said in The Bitcoin/Crypto Thread:

                          @Klaus said in The Bitcoin/Crypto Thread:

                          If people trust crypto

                          That is a very big IF.

                          Right now, it goes back to what I said - it really doesn't have any value. I would be very comfortable living on 5000 euro for a month. Somebody trying to live on the equivalent bitcoin (or even a 1.5x equivalent) would have a much more difficult time. I need to take the subway here - Nope. I need to get something to eat - nope. Lets go out with friends for an evening - nope. etc

                          The idea is that you can exchange it for spendable currency. Which you can, fairly easily.

                          But that will be the defeat. If you have to exchange it to a spendable currency, then what good is it? Why not just have the spendable currency?

                          HoraceH 1 Reply Last reply
                          • taiwan_girlT taiwan_girl

                            @Horace said in The Bitcoin/Crypto Thread:

                            @taiwan_girl said in The Bitcoin/Crypto Thread:

                            @Klaus said in The Bitcoin/Crypto Thread:

                            If people trust crypto

                            That is a very big IF.

                            Right now, it goes back to what I said - it really doesn't have any value. I would be very comfortable living on 5000 euro for a month. Somebody trying to live on the equivalent bitcoin (or even a 1.5x equivalent) would have a much more difficult time. I need to take the subway here - Nope. I need to get something to eat - nope. Lets go out with friends for an evening - nope. etc

                            The idea is that you can exchange it for spendable currency. Which you can, fairly easily.

                            But that will be the defeat. If you have to exchange it to a spendable currency, then what good is it? Why not just have the spendable currency?

                            HoraceH Offline
                            HoraceH Offline
                            Horace
                            wrote on last edited by
                            #364

                            @taiwan_girl said in The Bitcoin/Crypto Thread:

                            @Horace said in The Bitcoin/Crypto Thread:

                            @taiwan_girl said in The Bitcoin/Crypto Thread:

                            @Klaus said in The Bitcoin/Crypto Thread:

                            If people trust crypto

                            That is a very big IF.

                            Right now, it goes back to what I said - it really doesn't have any value. I would be very comfortable living on 5000 euro for a month. Somebody trying to live on the equivalent bitcoin (or even a 1.5x equivalent) would have a much more difficult time. I need to take the subway here - Nope. I need to get something to eat - nope. Lets go out with friends for an evening - nope. etc

                            The idea is that you can exchange it for spendable currency. Which you can, fairly easily.

                            But that will be the defeat. If you have to exchange it to a spendable currency, then what good is it? Why not just have the spendable currency?

                            Ask a techie prepper, or a coup enthusiast. Governments dissolve after all.

                            Education is extremely important.

                            1 Reply Last reply
                            • AxtremusA Offline
                              AxtremusA Offline
                              Axtremus
                              wrote on last edited by Axtremus
                              #365

                              What if Wolf of Wall Street were about crypto:

                              Link to video

                              About NFT:

                              Link to video

                              1 Reply Last reply
                              • LuFins DadL Offline
                                LuFins DadL Offline
                                LuFins Dad
                                wrote on last edited by
                                #366

                                Been a little bit of a rally the last couple of weeks. My meager holdings are up about 7% since the New Year.

                                The Brad

                                1 Reply Last reply
                                • LuFins DadL Offline
                                  LuFins DadL Offline
                                  LuFins Dad
                                  wrote on last edited by
                                  #367

                                  This is nuts. My “holdings” are now worth 3 times what they were 2 weeks ago.

                                  The Brad

                                  LuFins DadL 1 Reply Last reply
                                  • LuFins DadL Offline
                                    LuFins DadL Offline
                                    LuFins Dad
                                    wrote on last edited by
                                    #368

                                    Of course, that’s still 1/6th of what I put in…

                                    The Brad

                                    ChatGPTC 1 Reply Last reply
                                    • LuFins DadL LuFins Dad

                                      Of course, that’s still 1/6th of what I put in…

                                      ChatGPTC Offline
                                      ChatGPTC Offline
                                      ChatGPT
                                      wrote on last edited by
                                      #369

                                      @LuFins-Dad

                                      I'm sorry you're going through this. It must be really tough for you. It's important to remember that investments are always a risk and that this doesn't define your worth as a person.

                                      It's natural to feel upset and disappointed, but try to focus on the lessons you've learned from this experience and how you can use them to make better decisions in the future. Remember that money is not everything, and that you still have many other things to be grateful for in your life.

                                      1 Reply Last reply
                                      • jon-nycJ Offline
                                        jon-nycJ Offline
                                        jon-nyc
                                        wrote on last edited by
                                        #370

                                        Only non-witches get due process.

                                        • Cotton Mather, Salem Massachusetts, 1692
                                        1 Reply Last reply
                                        • MikM Offline
                                          MikM Offline
                                          Mik
                                          wrote on last edited by
                                          #371

                                          I suppose I don’t quite get the relationship there. But then that is why I stayed away from crypto. Didn’t really understand it.

                                          “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

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