The Bitcoin/Crypto Thread
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I am like @xenon . Just dont get the purpose/value of crypto. When a country like mainland China decides to crack down on crypto currency, it doesn't seem like it is as "free" and out of the reach of governments as people like to believe.
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@lufins-dad said in The Bitcoin/Crypto Thread:
On the other side, two weeks ago I put in $10 to just have some fun poking around at the day trading end of it. Trying to time the dips and the swings of the currencies (especially the new ones). The idea is to try and gain 10% plus the transaction fee back from every trade. I'm not quite hitting that target because the transaction fees seem to be fairly high for the smaller amounts (Transferring $11.50 from BICO to POLY cost me $.40) I have to assume that there are minimum transaction fees that apply? At any rate, I've got that $10 up to $16.80 over the last two weeks, so that's kind of fun... Just 295 successful transactions to go...
Are you doing all these trading in a tax-excempt or tax-deferred account? If not, presumably every trade is a tax event and reporting 300+ tax events would be non-trivial. In any case, good luck with your trading.
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Please love yourself.
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@aqua-letifer said in The Bitcoin/Crypto Thread:
Interesting thread.
I must say that that thread makes me like crypto more, not less.
I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.
Hell yes, bring it on!
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@klaus said in The Bitcoin/Crypto Thread:
@aqua-letifer said in The Bitcoin/Crypto Thread:
Interesting thread.
I must say that that thread makes me like crypto more, not less.
I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.
Hell yes, bring it on!
What's not to like?
"My pronouns are FA/FO." - Mik, 2024
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@mik said in The Bitcoin/Crypto Thread:
@klaus said in The Bitcoin/Crypto Thread:
@aqua-letifer said in The Bitcoin/Crypto Thread:
Interesting thread.
I must say that that thread makes me like crypto more, not less.
I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.
Hell yes, bring it on!
What's not to like?
Ignoring this guy's histrionics, my thing is, it works in ways we haven't grappled with for any extended period, so there may be some pitfalls.
"What do you mean, Aqua, buying on margin is a great idea!"
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If you like the way the Euro works or the way the gold standard works, you'll like the way crypto works. It's like those, but even moreso.
Countries would lose control over their own currency (and to be sure, some manage it very poorly).
Americans should be most wary though - since they currently enjoy having the world's reserve currency.
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@xenon said in The Bitcoin/Crypto Thread:
If you like the way the Euro works or the way the gold standard works, you'll like the way crypto works. It's like those, but even moreso.
That sounds so ridiculous.
I'm taking your word for it, but it sounds like you're saying, "crypto's great! It's like money, but better!" -
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@aqua-letifer said in The Bitcoin/Crypto Thread:
@xenon said in The Bitcoin/Crypto Thread:
If you like the way the Euro works or the way the gold standard works, you'll like the way crypto works. It's like those, but even moreso.
That sounds so ridiculous.
I'm taking your word for it, but it sounds like you're saying, "crypto's great! It's like money, but better!"Well - I personally don't like the way the Euro works or the gold standard.
But essentially - you're turning a currency more into a "force of nature" - people have less control over it.
What I'm saying is that crypto takes away even more control from humans.
I think the guy you linked was essentially saying the same thing.
Question is - do we want humans to control and have agency over their the currency?
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@aqua-letifer said in The Bitcoin/Crypto Thread:
@mik said in The Bitcoin/Crypto Thread:
@klaus said in The Bitcoin/Crypto Thread:
@aqua-letifer said in The Bitcoin/Crypto Thread:
Interesting thread.
I must say that that thread makes me like crypto more, not less.
I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.
Hell yes, bring it on!
What's not to like?
Ignoring this guy's histrionics, my thing is, it works in ways we haven't grappled with for any extended period, so there may be some pitfalls.
"What do you mean, Aqua, buying on margin is a great idea!"
My first experience to buying on margin was the richest guy in Springfield. He lost it all on margin calls. Maade a big impression on me.
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@xenon said in The Bitcoin/Crypto Thread:
Question is - do we want humans to control and have agency over their the currency?
Depends on the human.
Proud supporter of Plan 2525. Everything you think, do and say will be in the pill you took today.
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@doctor-phibes said in The Bitcoin/Crypto Thread:
@xenon said in The Bitcoin/Crypto Thread:
Question is - do we want humans to control and have agency over their the currency?
Depends on the human.
Under my control is the best, of course.
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@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
"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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@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:
- Michael Bloomberg was born into less money than Donald Trump was.
- Since signing The Giving Pledge, Bloomberg has given to philanthropic causes more than 3x Trump’s net worth in monetary terms.
