Bitcoin, Cryptocurrency, and the Future of Global Finance

#426
#426
Rasputin_Vol said:
I'm thinking that there is going to be a huge event/crash that comes (just like in the dotcom era) and there may only be a handful of these companies left standing. All anyone is doing right now is basically throwing their money on a roulette wheel and hoping their crypto is around when all the dust settles.
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#427
#427
Orangeburst said:
It is rather the connumdrum. What holds value? I could have a room full of gold but the value is only determined by everyone else determination of value.

My bigger concern is why would the international bankers want this? No benevolence for dang sure.
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He who has the gold makes up the value. The thing that seems to be missing is that we have had a steadily growing workforce with a need to park investments supporting retirement somewhere. Banks with interest couldn't provide nearly the long term return that investment markets apparently do. Stocks and other investment opportunities have almost an infinite source of buyers and the prices just react to the law of supply and demand with demand inflating prices. If that ever increasing willingness to buy ever changes, it's going to be very ugly.
 
#428
#428
Orangeburst said:
It is rather the connumdrum. What holds value? I could have a room full of gold but the value is only determined by everyone else determination of value.

My bigger concern is why would the international bankers want this? No benevolence for dang sure.
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The central bankers are interested in upgrading the cross border payment system. It looks to be almost ready to go. If this is true Ripple, XRP and anyone associated or invested in them will be a huge winner.
 
#429
#429
reecetn said:
The central bankers are interested in upgrading the cross border payment system. It looks to be almost ready to go. If this is true Ripple, XRP and anyone associated or invested in them will be a huge winner.
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So they care about the monies and not border crossers. Hello one world gov.
 
#430
#430
Orangeburst said:
So they care about the monies and not border crossers. Hello one world gov.
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There does not seem to be many good guys involved. I am thinking it is wise to capitalize as much off this as I can because this will definitely centralize power even more than it currently is. It is very ironic that they chose a decentralized token on a public block chain to drive the new "Internet of Value".
 
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#431
#431
reecetn said:
There does not seem to be many good guys involved. I am thinking it is wise to capitalize as much off this as I can because this will definitely centralize power even more than it currently is. It is very ironic that they chose a decentralized token on a public block chain to drive the new "Internet of Value".
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I just think this leads to the cashless society.And yes most payments are digital already, but I could see caloric intake purchased at the gorcery store being measured to your healthcare premiums, and all sorts of control and nonsense.

If fully implemented, Would this cryptocurrency not kill all the banks and credit unions?
 
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#432
#432
Orangeburst said:
I just think this leads to the cashless society.And yes most payments are digital already, but I could see caloric intake purchased at the gorcery store being measured to your healthcare premiums, and all sorts of control and nonsense.

If fully implemented, Would this cryptocurrency not kill all the banks and credit unions?
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From all the public information available it looks like the cross border digital currency they will use is just to replace the current Swift Transactions. It will free up 20+ trillion in cash they have to store in Nostro accounts and make the actual transactions instant with almost zero fees. The crypto token XRP will just be the vehicle to bridge the transactions so each nation will keep its currency for now I guess. They know most nations are not willing to give up there currency because that would strip their power. It does smell like a trap to me but I am going to try to take advantage of it as much as I can and go from there.
 
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#434
#434
theFallGuy said:
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Look a here, I'm not rooting against cryptos or anything. I hope you guys are correct with regards to your speculative bets. I mainly have two concerns:
1. It looks as bubbly as Tulip Mania
2. My fear is that block chain technology will be used by governments to enslave us with some sort of social credit score and this entire shift to cryptos is a way of moving us away from cash
 
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#439
#439
n_huffhines said:
View attachment 365588
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Apparently you don't remember or weren't around in the early 2000's when Berkshire was being trashed for not investing in the dot coms, they only invested in companies that made stuff and did so at a profit. Pour all of your money into the blockchain investments if you want, but I think you'll regret is sooner than later.
 
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#440
#440
VolStrom said:
Apparently you don't remember or weren't around in the early 2000's when Berkshire was being trashed for not investing in the dot coms, they only invested in companies that made stuff and did so at a profit. Pour all of your money into the blockchain investments if you want, but I think you'll regret is sooner than later.
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Why does my posting this quote mean I don't remember the early 2000's, LOL? Makes no sense.

Does Berkshire invest in internet companies now?

Do you have memory problems?
 
#441
#441
My buddy posted this

Proof of Work (How bitcoin secures its blockchain, and how Ethereum currently does too but not for much longer) vs Proof of Stake (What ETH is migrating to now, and some other blockchains currently use). Here are a few high level points -

Pros of PoS:
- It uses 99.89% less electricity than PoW with a similar reduction in compute power required.
- It is more decentralized.
- It is a few orders of magnitude more secure. Resistance to hacks/51% attacks is much higher.
- It is a few orders of magnitude more censorship resistant (this refers to the ability for a government to shut it down. If the US or China wanted to destroy that blockchain, could they?).

Cons of PoS:
-There is a risk it can concentrate the asset over time. Bitcoin is so expensive to mine, that miners are forced to sell some of their bitcoin rewards to cover their overhead (electricity, cost of hardward, etc). Staking is so much cheaper that stakers can just hold on to the ETH they earn.

That con is more mitigated for ETH than other PoS chains because ETH was PoW for 5 years, then switched to PoS. So that first 5 years helped ensure a more even distribution of ownership before switching to PoS.

Some also think that is more of a theoretical risk than a practical risk because early investors tend to realize their gains as a token appreciates. We've already seen this play out. Most bitcoin bought in 2013 is not still in those same hands.

Also, on security - there are some key security risks to the bitcoin approach that ETH solved in a really smart way. BTC eventually will stop issuing block rewards once the full 21M BTC are issued. Then miners will rely on transaction fees alone.

Blockchains are more secure when more of the miner revenue comes from block rewards vs transaction fees. So how do you solve this without having a token that just inflates its supply over time? You always issue block rewards, but "burn"/destroy a portion of the transaction fees paid by the users. Starting in July, ETH will do this. At current transaction levels, ETH will have a shrinking supply. That bodes well for ETH price and the security of the ETH blockchain.
 
#442
#442
n_huffhines said:
Why does my posting this quote mean I don't remember the early 2000's, LOL? Makes no sense.

Does Berkshire invest in internet companies now?

Do you have memory problems?
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I don't give investment advice other than buy broad stock market funds, you invest in whatever POS of the day you think is going to make you money because I guarantee that the fat cats making the money in your "I'm gonna get rich" scheme have already cashed out and now they're just milking the teat.
 
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#443
#443
VolStrom said:
I don't give investment advice other than buy broad stock market funds, you invest in whatever POS of the day you think is going to make you money because I guarantee that the fat cats making the money in your "I'm gonna get rich" scheme have already cashed out and now they're just milking the teat.
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Haha, what? Nobody cares or asked.
 
#450
#450
n_huffhines said:
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1. @20:00, he used the Robinhood example but didn't really explain how someone would be able to take control of their assets
2. @ he didn't explain how using DEFI you get better yields/interest rates
3. @56:50, how/who will enforce smart contracts?
 
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