Crypto currency

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rotauq said:
Still got some xrp stashed away...

Without hindsight crypto trading is certainly bad for your health. Hodl to long and your virtual lambo is gone whiles you were thinking about the matching color rangerover for your mother.
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Haha I been learning how to trade for 3yrs now, thoroughly convinced I have zero innate trading ability 😂
 
Wow! Crazy couple days! Looks like it’s cooling off!! Now just keep the wife from finding out! Had to pay 💰 of the oldest!!
 
Dan B. said:
Crazy, crazy stuff. So many people have made so much money it’s insane. Glad some forum peeps are doing well with it! 😍
All from some currency that you can’t touch, doesn’t really exist, is based on nothing whatsoever, and that someone totally made up to trade on the interweb. Go figure. Strange days indeed. Most peculiar, momma.
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The irony being that the same thing could be said about the dollar, euro and all of the other fiat currencies. It's only worth something because we all (when I say "we all" I'm talking about the banks and industry back in the day) agreed to the fact that it is. The last time the dollar was based on something tangible was in 1971. I can't recall the exact percentage but the amount of actual, physical currency in circulation compared to what has been "printed" (How much has the fed created out of thin air only to exist in computer systems over just the last three years alone? $10 trillion? $12 trillion?) is miniscule.

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Fractional reserve banking is, quite possibly, the biggest scam in the history of scams and then it was given institutional power at which point they quadrupled and octupled down.
 
danny1202 said:
Crypto is probably a scam too, one that we don’t need to understand, just learn how to ride the financial rollercoaster. You can get on or off when ever you like .

weeeeeeeeee
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Are you suggesting money that doesn't exist is a scam?
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I’m not making any suggestions or giving financial advice. But you gotta be in it to win it rude boy.
 
Diem Turner said:
The irony being that the same thing could be said about the dollar, euro and all of the other fiat currencies. It's only worth something because we all (when I say "we all" I'm talking about the banks and industry back in the day) agreed to the fact that it is. The last time the dollar was based on something tangible was in 1971. I can't recall the exact percentage but the amount of actual, physical currency in circulation compared to what has been "printed" (How much has the fed created out of thin air only to exist in computer systems over just the last three years alone? $10 trillion? $12 trillion?) is miniscule.

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Fractional reserve banking is, quite possibly, the biggest scam in the history of scams and then it was given institutional power at which point they quadrupled and octupled down.
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I would have long pressed the “like” button, but @WoodiE hasn't given us the eyeroll emoji yet. (Seriously, @WoodiE , we need that badly)
The thing is, the currencies you’ve referenced actually were based on something when they were established. Now, entire economies are based on their own set of vague, nebulous “standards” which can wax and wane based on intangible factors and market moods that have no bearing at all on the ability of their respective governments (and thus the entire nation) to survive in a worst case scenario.
And so, you might say, I just made the point for you? No. Because these intangible currencies do represent individual governments whose population and domestic economies could suffer/fail in their own right, potentially shifting massive amounts of wealth and power to other nations if/when they fail. They are still tied, for better or worse, to the Nation that issued the currency.
WTF is bitcoin, exactly?

danny1202 said:
I’m not making any suggestions or giving financial advice. But you gotta be in it to win it rude boy.
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How many lottery tickets/scratchers do you buy in a week? How’s that working out? Does that KoolAid taste yummy?
 
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rotauq said:
Money, credit

Money, credit... Modern slavery in disguise
In that analogy crypto is an escape attempt, ending in either freedom or whipping
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That's why I love the ones that cost 0.0000002 per share. If it moves like Dogecoin did then its a win, but I wont cry over $40
 
danny1202 said:
I’m not making any suggestions or giving financial advice. But you gotta be in it to win it rude boy.
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And I totally wasn't joking.
Dan B. said:
I would have long pressed the “like” button, but @WoodiE hasn't given us a goddamned eyeroll emoji yet. (Seriously, @WoodiE , we need that badly)
The thing is, the currencies you’ve referenced actually were based on something when they were established. Now, entire economies are based on their own set of vague, nebulous “standards” which can wax and wane based on intangible factors and market moods that have no bearing at all on the ability of their respective governments (and thus the entire nation) to survive in a worst case scenario.
And so, you might say, I just made the point for you? No. Because these intangible currencies do represent individual governments whose population and domestic economies could suffer/fail in their own right, potentially shifting massive amounts of wealth and power to other nations if/when they fail. They are still tied, for better or worse, to the Nation that issued the currency.
WTF is bitcoin, exactly?


How many lottery tickets/scratchers do you but in a week? How’s that working out? Does that KoolAid taste yummy?
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An eyeroll emoji would indeed be useful from time to time, I second that motion...I think I mentioned that it was last coupled to something tangible in 1971? I didn't say that it was never coupled to anything as I'm well aware of the currency's history and, FWIW, the currency being tied to a country, though obviously true, is not the same thing as it being coupled to a physical commodity such as gold, as it was until 1971. And as for that massive wealth transfer in case of a collapse...if the currency is tied to the nation, I'm pretty sure that the value assigned to intricately printed slips of paper, because it was backed by "the full faith and credit of the United States government" will hit zero round about the same time so, I don't think there will be any wealth that could get shifted to other nations. A collapsed nation will have lost its leverage and a collapse is most often preceded by hyperinflation so it will already have been worth just the tiniest bit more than nothing in the weeks leading up to the final implosion.

I don't think I can adequately explain what bitcoin is other than an alternate form of legal tender whose maximum amount that could ever be in circulation was limited from the get go, thereby eliminating (at least in theory) the possibility of just "printing" more which would devalue what people already had artificially. I was watching an interview on JRE several years back where the guy was explaining how everyone in the west thinks Bitcoin valuation is so unstable but that to people who live in destabilized countries, the fluctuations of Bitcoin's value represents a notable increase in stability in their lives because the volatility of the national currency is so much worse.
 
I don’t do the lottery, we also don’t have koolaid. I feel like you’ve just tried to insult me a bit there mate… it’s ok though it’s obviously a subject your not on board with and I respect that.
 
It's clear some here just don't have a good understanding of crypto, and that's okay. But the fact of the matter is that many cryptocurrencies and blockchains have inherent value due to their features and use cases.
 
Glitch said:
It's clear some here just don't have a good understanding of crypto, and that's okay. But the fact of the matter is that many cryptocurrencies and blockchains have inherent value due to their features and use cases.
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Nor does 95% of people investing in crypto. Hence all the memecoins, thats a meme on it's own...

It's hard to tell which would really be good for the world. I can understand most conceptually, but can't judge if they are actually capable and if another will succeed with the same better and earlier? Whiles a memecoin just needs a good tweet from the right person to have the masses jump on it.
 
I think we need a new crypto currency. You mine by driving Arrma rigs. Someone just design a counter and off we go. You get double value when wrenching. Go scorched and M2C and you triple. Now that sounds like one perfect way to retire early and pay for rigs and upgrades!!! 😋

rc flying GIF
 
RC-Dude said:
I think we need a new crypto currency. You mine by driving Arrma rigs. Someone just design a counter and off we go. You get double value when wrenching. Go scorched and M2C and you triple. Now that sounds like one perfect way to retire early and pay for rigs and upgrades!!! 😋

rc flying GIF
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We can call it bashcoin😁
 
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Diem Turner said:
And I totally wasn't joking.

An eyeroll emoji would indeed be useful from time to time, I second that motion...I think I mentioned that it was last coupled to something tangible in 1971? I didn't say that it was never coupled to anything as I'm well aware of the currency's history and, FWIW, the currency being tied to a country, though obviously true, is not the same thing as it being coupled to a physical commodity such as gold, as it was until 1971. And as for that massive wealth transfer in case of a collapse...if the currency is tied to the nation, I'm pretty sure that the value assigned to intricately printed slips of paper, because it was backed by "the full faith and credit of the United States government" will hit zero round about the same time so, I don't think there will be any wealth that could get shifted to other nations. A collapsed nation will have lost its leverage and a collapse is most often preceded by hyperinflation so it will already have been worth just the tiniest bit more than nothing in the weeks leading up to the final implosion.

I don't think I can adequately explain what bitcoin is other than an alternate form of legal tender whose maximum amount that could ever be in circulation was limited from the get go, thereby eliminating (at least in theory) the possibility of just "printing" more which would devalue what people already had artificially. I was watching an interview on JRE several years back where the guy was explaining how everyone in the west thinks Bitcoin valuation is so unstable but that to people who live in destabilized countries, the fluctuations of Bitcoin's value represents a notable increase in stability in their lives because the volatility of the national currency is so much worse.
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I do realize that bitcoin is at the moment an alternate form of legitimate currency. However, if you’re legitimizing this currency by comparing its very legitimacy (inherent lack of actual value by any standard) to our current monetary system because of the U.S. abandonment of the Gold Standard then I just simply do not understand how you could make this leap. As long as this is a thing, then it will be a thing. Until it isn’t. And then it won’t be. And your statement of the powers that be being unable to “print more” suggests some sort of regulatory oversight that just clearly doesn’t exist. This “currency” is not backed by any nation, geographical economy, or regulatory organization. It can cease to exist at any point, at any moment, for no reason more apparent than the reason it existed in the first place.
danny1202 said:
I don’t do the lottery, we also don’t have koolaid. I feel like you’ve just tried to insult me a bit there mate… it’s ok though it’s obviously a subject you’re not on board with and I respect that.
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It was not meant to be insulting. I’m sorry if it came off that way. Our lotteries here have the saying, “if you don’t play, you can’t win.” And what do you mean that you don’t have KoollAid in Leicester? Grape KoolAid was one of the single best things in my formative years. It didn’t matter where anyone found themselves, one could always source some grape KoolAid.
I’m glad also that those who have invested in bitcoin have profited from it. My broker tried to talk me into investing a couple of times, but I guess I’ll be honest and just relegate myself to being an utter anachronism.
I’m not saying I don’t somewhat understand it, I’m saying I don’t fully trust anything that is produced from the ether and sold to those who embrace it for no reason apart from others saying, “yo, this is gonna be awesome!” The reality is, it will be awesome as long as those saying so (and playing the market) continue to have an interest, and for as long as others can be convinced to invest. After that, your investment is worth…a f*ckhole. I’ll continue to abstain, and I wish all investors the best of luck.

RC-Dude said:
I think we need a new crypto currency. You mine by driving Arrma rigs. Someone just design a counter and off we go. You get double value when wrenching. Go scorched and M2C and you triple. Now that sounds like one perfect way to retire early and pay for rigs and upgrades!!! 😋

rc flying GIF
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Good idea, I’m down. All you have to do (apparently) is to effectively sell the idea and get people to buy in, right?
 
gotnitro said:
Here’s how I look at it. It’s a better gamble than buying 10 traxsucks $1000 XRT’s.
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It’s probably a better gamble than buying 10 of any depreciating asset?

Could you show us on the doll where Traxxas touched you?
 
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