Any Crypto fans here?

[Milhouse86]

Originally Posted by andrewpk

I trust in cryptocurrency and do most of my investment in crypto because when the value of crypto rises then we got huge income. I have joined the best cryptocurrency trading platform

. Its more relaible and scalable platform. You can earn huge revenue.

Hahaha dumb scammers.

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[Milhouse86]

Originally Posted by Irace86.2.0

I don't really understand what you mean by failed currencies. Currency older than 1913 is still legal tender, and in fact, the coins I have in my collection are worth more than their face value in trade. Currency failed or evolved? This needs more explanation because the way you said failed currency seems like I could use it in the same sentence like this: every generation of every model car that was ever created has failed.

Hey sorry I got busy and forgot to come back. Where the car analogy is wrong is that we have things that DO hold value over time. It's just not currency issued by an authority controlled by people. The only value of your coin is the collectors value. The value of the metal is less than the value of the coin, and you can no longer use that coin as "currency" because it is a defunct government.

Bitcoin is more like gold in that it keeps it's value against USD inflation like gold. The theory is still being played out, and proven imo, in real time.



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[p1l0t]

Originally Posted by Milhouse86

Hey sorry I got busy and forgot to come back. Where the car analogy is wrong is that we have things that DO hold value over time. It's just not currency issued by an authority controlled by people. The only value of your coin is the collectors value. The value of the metal is less than the value of the coin, and you can no longer use that coin as "currency" because it is a defunct government.

Bitcoin is more like gold in that it keeps it's value against USD inflation like gold. The theory is still being played out, and proven imo, in real time.



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It's crashing again... it is not a hedge against the market. And the difference between bitcoin and gold is, gold is a limited supply. Bitcoin was the only supply at one time but now there are hundreds of cryptos and climbing. So will blockchain be used into the future, sure. But every company might have their own someday even if some use 3rd party ones. Anyway so it's not special. It's not a hedge against anything. It's just a big waste of electricity for the most part. Also spamming on some forums won't help you get your 'investment' back.

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[Tcoat]

On little blip in the system and all the crypto currancy in the world could disappear forever. This is likely the most unstable way to save/make/invest money in the history of exchange. Conch shells and shiny pebbles were more stable.

[Spuds]

Originally Posted by p1l0t

It's crashing again... it is not a hedge against the market. And the difference between bitcoin and gold is, gold is a limited supply. Bitcoin was the only supply at one time but now there are hundreds of cryptos and climbing. So will blockchain be used into the future, sure. But every company might have their own someday even if some use 3rd party ones. Anyway so it's not special. It's not a hedge against anything. It's just a big waste of electricity for the most part. Also spamming on some forums won't help you get your 'investment' back.

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Just a counter point for consideration. Gold is mostly limited by discovering and extracting it, I am 100% sure there is more gold in the Earth somewhere, and even more in just our solar system if we could get to it. Discovery and extraction are limited by the amount of energy we have available and our ability to manipulate it for purpose.

Producing a cryptocurrency unit is essentially discovering it (the solution exists, we just don't know it is there), and 'extracting' it from randomness by marking it. As more of it is discovered and extracted, it takes more and more energy to discover and extract more, just like any valuable material (gold, oil, etc).

The difference is that cryptocurrency, like other currency in general, doesn't have any use other than claiming it represents some value, whereas gold has plenty of practical uses.

[p1l0t]

Originally Posted by Spuds

Just a counter point for consideration. Gold is mostly limited by discovering and extracting it, I am 100% sure there is more gold in the Earth somewhere, and even more in just our solar system if we could get to it. Discovery and extraction are limited by the amount of energy we have available and our ability to manipulate it for purpose.

Producing a cryptocurrency unit is essentially discovering it (the solution exists, we just don't know it is there), and 'extracting' it from randomness by marking it. As more of it is discovered and extracted, it takes more and more energy to discover and extract more, just like any valuable material (gold, oil, etc).

The difference is that cryptocurrency, like other currency in general, doesn't have any use other than claiming it represents some value, whereas gold has plenty of practical uses.

Well, yes, asteroid mining could throw precious metals into abundance... but one can only hope.

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[Milhouse86]

Originally Posted by p1l0t

It's crashing again... it is not a hedge against the market. And the difference between bitcoin and gold is, gold is a limited supply. Bitcoin was the only supply at one time but now there are hundreds of cryptos and climbing. So will blockchain be used into the future, sure. But every company might have their own someday even if some use 3rd party ones. Anyway so it's not special. It's not a hedge against anything. It's just a big waste of electricity for the most part. Also spamming on some forums won't help you get your 'investment' back.

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Lol your cute. I don't have an agenda but you can keep being rude. I clearly stated I just wanted to have a conversation. I am up well over double at today's prices. So I'm good, but it's cute you think you have enough money to even move the peg for bitcoin. It is trading $55 billion a day right now....

Other cryptos are not bitcoin. I invest in those as well, but they are not Bitcoin. There is a difference. Bitcoin has a set supply and it will never change. Other cryptos serve other purposes, they are not Bitcoin. If someone wants to actually discuss those that would be fun.

I think it is fascinating from a technology evolution standpoint. People seem to forget that modern monetary theory is an experiment that now has full control over our financial system. It's funny that most see Bitcoin as risky, I have almost all of my liquid capital in crypto because I see the the traditional system as risky. The Fed is just changing the rules willy nilly. It's a joke

It's just perspective, there's no reason we can't have polite discourse. See the beautiful thing about America is that we don't have to agree. I am ex military, I put my ass on the line for your right to disagree with me . Just be polite

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[Milhouse86]

Originally Posted by Spuds

Just a counter point for consideration. Gold is mostly limited by discovering and extracting it, I am 100% sure there is more gold in the Earth somewhere, and even more in just our solar system if we could get to it. Discovery and extraction are limited by the amount of energy we have available and our ability to manipulate it for purpose.

Producing a cryptocurrency unit is essentially discovering it (the solution exists, we just don't know it is there), and 'extracting' it from randomness by marking it. As more of it is discovered and extracted, it takes more and more energy to discover and extract more, just like any valuable material (gold, oil, etc).

The difference is that cryptocurrency, like other currency in general, doesn't have any use other than claiming it represents some value, whereas gold has plenty of practical uses.

See here's where there's misunderstandings. Gold is far from a set supply. Like other people have said eventually we might even be mining asteroids. Long way away and some Star wars shit but with Elon musk the conversation is getting more real. Bitcoin, not other cryptos, has a supply of 21 million coins. It will take over 100 years to extract the last of them from today. So yes there will be other cryptos, but never more Bitcoin than that.

Yes there are a lot of other cryptocurrencies but they are not Bitcoin. Each cryptocurrency, relatively speaking, has different use cases / purposes. They're actually solving some pretty cool real-world issues with blockchain technology. The problem is too many people create what is called shit coins that either have no utility and/or no value trying to make a quick buck.

While today my favorite thing about blockchain technology is it's ability to democratize money like the internet democratized knowledge. There's nothing on Harvard's shelves you can't get on your cell phone right now. That's a pretty drastic difference from the rest of human history. But I really think it's still just scratching the surface and we're still trying to figure out what it's capable of or where it is going.

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[p1l0t]

Originally Posted by Milhouse86

Lol your cute. I don't have an agenda but you can keep being rude. I clearly stated I just wanted to have a conversation. I am up well over double at today's prices. So I'm good, but it's cute you think you have enough money to even move the peg for bitcoin. It is trading $55 billion a day right now....

Other cryptos are not bitcoin. I invest in those as well, but they are not Bitcoin. There is a difference. Bitcoin has a set supply and it will never change. Other cryptos serve other purposes, they are not Bitcoin. If someone wants to actually discuss those that would be fun.

I think it is fascinating from a technology evolution standpoint. People seem to forget that modern monetary theory is an experiment that now has full control over our financial system. It's funny that most see Bitcoin as risky, I have almost all of my liquid capital in crypto because I see the the traditional system as risky. The Fed is just changing the rules willy nilly. It's a joke

It's just perspective, there's no reason we can't have polite discourse. See the beautiful thing about America is that we don't have to agree. I am ex military, I put my ass on the line for your right to disagree with me . Just be polite

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Oh I'm more than cute, I'm beautiful. Especially when my point catches a nerve.

Originally Posted by Milhouse86

See here's where there's misunderstandings. Gold is far from a set supply. Like other people have said eventually we might even be mining asteroids. Long way away and some Star wars shit but with Elon musk the conversation is getting more real. Bitcoin, not other cryptos, has a supply of 21 million coins. It will take over 100 years to extract the last of them from today. So yes there will be other cryptos, but never more Bitcoin than that.

Yes there are a lot of other cryptocurrencies but they are not Bitcoin. Each cryptocurrency, relatively speaking, has different use cases / purposes. They're actually solving some pretty cool real-world issues with blockchain technology. The problem is too many people create what is called shit coins that either have no utility and/or no value trying to make a quick buck.

While today my favorite thing about blockchain technology is it's ability to democratize money like the internet democratized knowledge. There's nothing on Harvard's shelves you can't get on your cell phone right now. That's a pretty drastic difference from the rest of human history. But I really think it's still just scratching the surface and we're still trying to figure out what it's capable of or where it is going.

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And when that happens it will be a VERY good problem to have! #type1civlizationProblems

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[Milhouse86]

Originally Posted by p1l0t

Oh I'm more than cute, I'm beautiful. Especially when my point catches a nerve.


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No nerve, what you fail to realize is, yet again I am looking for conversation. You are just a tool that is keeping the conversation flowing. More people see it and that's my goal. So thanks and have a great day!

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[p1l0t]

Pretty sure $700 mil could buy some quantum computer time...

https://nairametrics.com/2020/09/10/...iting-for-you/

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[WildCard600]

[Dzmitry]

Originally Posted by Milhouse86

See here's where there's misunderstandings. Gold is far from a set supply. Like other people have said eventually we might even be mining asteroids. Long way away and some Star wars shit but with Elon musk the conversation is getting more real. Bitcoin, not other cryptos, has a supply of 21 million coins. It will take over 100 years to extract the last of them from today. So yes there will be other cryptos, but never more Bitcoin than that.

Yes there are a lot of other cryptocurrencies but they are not Bitcoin. Each cryptocurrency, relatively speaking, has different use cases / purposes. They're actually solving some pretty cool real-world issues with blockchain technology. The problem is too many people create what is called shit coins that either have no utility and/or no value trying to make a quick buck.

While today my favorite thing about blockchain technology is it's ability to democratize money like the internet democratized knowledge. There's nothing on Harvard's shelves you can't get on your cell phone right now. That's a pretty drastic difference from the rest of human history. But I really think it's still just scratching the surface and we're still trying to figure out what it's capable of or where it is going.

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So, out of curiosity... what happens as we approach the last bit of extraction for bitcoin? At what point do people decide "this currency is coming to its end and has no real life worth aside from the value people give it". Could be close to 100 years from now. Could be a couple years from now. Isn't that the general risk with this? I mean, yes, you can hypothesize that it is unlikely to happen, but it certainly isn't out of the question is it?

[Milhouse86]

Originally Posted by Dzmitry

So, out of curiosity... what happens as we approach the last bit of extraction for bitcoin? At what point do people decide "this currency is coming to its end and has no real life worth aside from the value people give it". Could be close to 100 years from now. Could be a couple years from now. Isn't that the general risk with this? I mean, yes, you can hypothesize that it is unlikely to happen, but it certainly isn't out of the question is it?

So the great thing about Bitcoin specifically, not cryptocurrency. Is that it is programmatically designed to release on a set schedule. Based on that schedule I believe we are at least 140 years away from all 21 million coins being extracted. Every time Bitcoin is moved on the network a fee is generated to the network. By that point the miners will be making enough theoretically from the fees to continue supporting the network.

One of the newest celebrities to turn bullish on Bitcoin is Jim Cramer of mad money. I don't care whether you agree with him or not, he has a big following and his voice matters. I'll post the video later when I'm home. The most important thing they talk about in my opinion is that Bitcoin is unique. The other cryptos are NOT Bitcoin.

Now I like some of the Alt coins for various reasons. Personally if I invest in them they have to have real potential utility and/or value. But again, they are not Bitcoin.

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