Bitcoin, Cryptocurrency, and the Future of Global Finance

#351
#351
VolStrom said:
Just out of curiosity, how would a person mortgage a house or sky scraper for that matter with some form of crypto currency? If the value of the currency increases 200% in a month does that mean you owe less? I also notice that the value is also always compared against the dollar, so the standard is set right there.
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Yea, that last point is a kicker.

My crypto is so awesome! It is worth 50,000 US DOLLARS!

so now we see how much you really believe in your crypto.
 
#352
#352
Ethereum is a currency used to power all the smart contracts and other apps built on their platform. The platform facilitates the home buying and selling process from A-Z, reducing costs substantially, but it has to be powered by ETH.

I stopped buying bitcoin a long time ago because I think it's inflated for sure. It's much easier for me to see value in ETH and Cardano vs. these currency only cryptos, like BTC and LTC
 
#353
#353
Just found out the smartest kid in my econ graduating class is in big time on ETH. He just posted this

Screenshot_20210420-194820_Facebook.jpg
 
#356
#356
n_huffhines said:
Technically, it settled 13x as much as a year ago and the average price in q1 was up 8x
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$116 to $1,541 is 13.3x (Q1 2020 to Q1 2021) from the “transaction volume” graph.

52 week high/low price is $172-$2,548 (14.8x). I came up with 15x doing the math in my head so I included “about”.

Best way to look at it is to plot the price per unit graph over the graph of the transaction volume in dollars since the variables that I used are not perfectly synced (exactly when was the 52 week low?). But it sure looks to me that the “volume exploded” is coming from the value being bid up while the number of crypto units transacted did not change much at all in a year. What is the nature of the transactions is what I’d like to know. Speculative trading?
 
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#357
#357
Thunder Good-Oil said:
$116 to $1,541 is 13.3x (Q1 2020 to Q1 2021) from the “transaction volume” graph.

52 week high/low price is $172-$2,548 (14.8x). I came up with 15x doing the math in my head so I included “about”.

Best way to look at it is to plot the price per unit graph over the graph of the transaction volume in dollars since the variables that I used are not perfectly synced (exactly when was the 52 week low?). But it sure looks to me that the “volume exploded” is coming from the value being bid up while the number of crypto units transacted did not change much at all in a year. What is the nature of the transactions is what I’d like to know. Speculative trading?
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You're doing it off the price now, not the price in q1. All your math is right except that part. The average price in Q1 was about $1500. $1500/172 = 8.7
 
#359
#359
n_huffhines said:
You're doing it off the price now, not the price in q1. All your math is right except that part. The average price in Q1 was about $1500. $1500/172 = 8.7
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$1,846 on 3/31. The point is that the upslope on the graph above is based almost entirely on the speculating driving up the price per unit rather than a higher volume of transactions.

$134 in March 2020.
$1,842 in March 2021.
13.75x
 
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#363
#363
Is crypto currency nothing more than a Ponzi Scheme?

Turkey seeks Arrest of Crypto boss over huge Fraud, detains dozens

Turkey issued an international arrest warrant on Friday for the founder of a cryptocurrency exchange who fled with a reported $2 billion in investors' assets, state media reported.

Police also detained 62 people in raids over their alleged links to Thodex, the company headed by the fugitive businessman Faruk Fatih Ozer.

He is being sought on charges of "fraud by using information systems, banks or credit institutions as a tool and founding a criminal organisation", the Anadolu news agency reported.

Turkey seeks arrest of crypto boss over huge fraud, detains dozens
 
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#367
#367
n_huffhines said:
View attachment 363664
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Just think when the housing market collapses and home prices are sane, their virtual currency will be in the gutter with the prices on the homes they are looking at. It seems just like yesterday that people all over were learning the problem of mortgages on homes that were worth a fraction of the mortgaged value. Bubbles and busts are like schips and giggles ... except for the cost.
 
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#368
#368
AM64 said:
Just think when the housing market collapses and home prices are sane, their virtual currency will be in the gutter with the prices on the homes they are looking at. It seems just like yesterday that people all over were learning the problem of mortgages on homes that were worth a fraction of the mortgaged value. Bubbles and busts are like schips and giggles ... except for the cost.
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Hasn't even seen the house (and it's a joke, too) and goes on rant about inflated price.
 
#369
#369
n_huffhines said:
Hasn't even seen the house (and it's a joke, too) and goes on rant about inflated price.
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True, but the property assessor just raised the assessment on my house significantly because of a couple of neighboring home sales. My house is still the same house it was before property started bubbling ... again, and it will still be the same house after the housing bubble collapses ... again. You know what won't change? The tax assessment. You also know what else wouldn't change if I sold the house? The mortgage - the amount owed and the payment for the buyer. For the record, I don't think fluctuating prices, costs, and demands driven by market speculation are jokes or are funny. With the exception of taxes, we are pretty much immune because we paid off our mortgage over 20 years ago - not so for a lot of people.
 
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#375
#375
Rasputin_Vol said:
Has anyone in here ever cashed in on BTC and been paid or do any of you know anyone that has cashed in on BTC?
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How does one "cash in" in on crypto currency? Do they exchange it for some other form of blockchain technology that you can't spend anywhere? Maybe I don't see the big picture with this currency, but other than trading it how does it make you money or keep you from going broke? As best as I can tell it's no different than trading in a dot com stock 20 years ago.
 
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