Bitcoin, Cryptocurrency, and the Future of Global Finance

#552
#552
Orangeburst said:
I did a few air system "layouts" not P&ID's, by hand and struggled to get good consistent valves with pencil and ruler..lol

Valve-Symbols-1024x576.png
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A good pencil, vellum, t-square and a drafting board. Old school.
 
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#556
#556
@Rasputin_Vol you'd probably enjoy this discussion. It's the creator of ETH and he covers the broad concepts of legitimacy by brute force, legitimacy by fairness, by process, by performance, etc. and ties those ideas into government and crypto. It's pretty cool.

 
#557
#557
n_huffhines said:
@Rasputin_Vol you'd probably enjoy this discussion. It's the creator of ETH and he covers the broad concepts of legitimacy by brute force, legitimacy by fairness, by process, by performance, etc. and ties those ideas into government and crypto. It's pretty cool.

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So I'm an hour into this, and I'm still not sold on it just yet. It basically sounds like the "legitimacy" concepts they are discussing is no different than the madness of crowds. Listen to their discussion starting @55:00 where they are talking about the soldiers fighting in ancient times and how the general's job was to prevent the troops from breaking ranks. Now this is their example... not mine.
 
#558
#558
I am big on ETH. It could hit 10k per coin by the end of this cycle. If you're not investing in crypto, you're either a gray hair who is still into stocks, or you're ignoring a blatant easy opportunity to set yourself up for a better financial future.
 
#559
#559
VFL 24/7 said:
I am big on ETH. It could hit 10k per coin by the end of this cycle. If you're not investing in crypto, you're either a gray hair who is still into stocks, or you're ignoring a blatant easy opportunity to set yourself up for a better financial future.
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You probably don't remember the statement from the former fed chairman Alan Greenspan when he talked about "irrational exuberance" to describe the meteoric rise of dot.com stocks in the late 90's early 2000's. History is repeating itself with these blockchain faux currencies. Play with house money and you'll be fine.
 
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#560
#560
VFL 24/7 said:
I am big on ETH. It could hit 10k per coin by the end of this cycle. If you're not investing in crypto, you're either a gray hair who is still into stocks, or you're ignoring a blatant easy opportunity to set yourself up for a better financial future.
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There is potential opportunity for big gains here but it is foolish to disparage someone for not seeing value here.
 
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#561
#561
Rasputin_Vol said:
So I'm an hour into this, and I'm still not sold on it just yet. It basically sounds like the "legitimacy" concepts they are discussing is no different than the madness of crowds. Listen to their discussion starting @55:00 where they are talking about the soldiers fighting in ancient times and how the general's job was to prevent the troops from breaking ranks. Now this is their example... not mine.
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Forget I sent it to you.
 
#562
#562
allvol123 said:
There is potential opportunity for big gains here but it is foolish to disparage someone for not seeing value here.
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Ehh...I don't think anybody is a fool for not investing but if you can't see that there is value, then you haven't learned enough and/or thought about it long enough.
 
#563
#563
n_huffhines said:
Forget I sent it to you.
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What was that for? I'm trying to understand the arguments they are presenting and they actually say in the video that you posted that it was their job (or not necessarily their job but the responsibility of the crypto community) to maintain legitimacy... and they used the analogy of ancient generals making sure the soldiers hold their line and don't break ranks. Again, not my words, but theirs.
 
#564
#564
VolStrom said:
You probably don't remember the statement from the former fed chairman Alan Greenspan when he talked about "irrational exuberance" to describe the meteoric rise of dot.com stocks in the late 90's early 2000's. History is repeating itself with these blockchain faux currencies. Play with house money and you'll be fine.
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The counter to your reminder is there are many traditional investors who refused and still refuse to invest in Amazon because it doesn't adhere to normal evaluation standards for a healthy company to invest in. The whole time that group is grousing about their metrics Amazon made a lot of investors very wealthy.
 
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#565
#565
McDad said:
The counter to your reminder is there are many traditional investors who refused and still refuse to invest in Amazon because it doesn't adhere to normal evaluation standards for a healthy company to invest in. The whole time that group is grousing about their metrics Amazon made a lot of investors very wealthy.
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I was invested in Amazon for a while and did so because they had a business model that made money and provided a service that people wanted and were willing to pay for. Show me one damn thing a blockchain makes or delivers?
 
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#566
#566
n_huffhines said:
Ehh...I don't think anybody is a fool for not investing but if you can't see that there is value, then you haven't learned enough and/or thought about it long enough.
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Its speculation. What are there, like 100 cryptos by now? All dont present value over the long term. I would think many will not materialize into much of anything.
 
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#568
#568
VolStrom said:
I was invested in Amazon for a while and did so because they had a business model that made money and provided a service that people wanted and were willing to pay for. Show me one damn thing a blockchain makes or delivers?
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I'm curious how you comment so often about how useless this is yet have no understanding of the technology
 
#569
#569
Rasputin_Vol said:
What was that for? I'm trying to understand the arguments they are presenting and they actually say in the video that you posted that it was their job (or not necessarily their job but the responsibility of the crypto community) to maintain legitimacy... and they used the analogy of ancient generals making sure the soldiers hold their line and don't break ranks. Again, not my words, but theirs.
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It was broader concept than crypto. He was talking about how the legitimacy mechanism is a part of human behavior.

I said "forget it" because, right or wrong, it was just another impression I got from you that you aren't interested in the validity of crypto. Reducing this discussion to the "madness of crowds" is something I would expect from a statist, TBH. Part of me believes I have you all wrong, though, which is why I keep trying. ; )
 
#570
#570
allvol123 said:
Its speculation. What are there, like 100 cryptos by now? All dont present value over the long term. I would think many will not materialize into much of anything.
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All don't have to present value for crypto to have value. Imagine if you held the status quo to these standards? Do all .com businesses have to show long term value to prove the value of .com?
 
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#571
#571
VolStrom said:
I was invested in Amazon for a while and did so because they had a business model that made money and provided a service that people wanted and were willing to pay for. Show me one damn thing a blockchain makes or delivers?
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Wasn't the point. Isnt the point. In fact, your investment in Amazon is similar to the speculation in crypto by posters here.
Many stock investors cautioned against Amazon because the Earnings ratio (or some metric important to them) didn't conform to their standards. I read a blog where Amazon was a frequent topic of dire warnings. Those stock folks Didn't dissuade you. Hope you made a fortune. Now the cautionary shoe is on the other foot. I hope the crypto speculators make a bundle, too.
 
#572
#572
n_huffhines said:
It was broader concept than crypto. He was talking about how the legitimacy mechanism is a part of human behavior.

I said "forget it" because, right or wrong, it was just another impression I got from you that you aren't interested in the validity of crypto. Reducing this discussion to the "madness of crowds" is something I would expect from a statist, TBH. Part of me believes I have you all wrong, though, which is why I keep trying. ; )
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Nobody else would have sat down to watch 5 minuets of that, muchless an hour. I'm really trying to find something that would hook me or explain some detail I'm missing. I just haven't been able to figure it out yet.

But again, let me say for the one thousandth time, I'm not anti-crypto. I do see value in blockchain technology. My two concerns are that I do not see how cryptos can be used as a medium of exchange or store of value right now, and I'm concerned that it will be the governments using block chain at the end of the day to control the activity and behavior of people using a type of social credit scoring system.
 
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#573
#573
Rasputin_Vol said:
Nobody else would have sat down to watch 5 minuets of that, muchless an hour. I'm really trying to find something that would hook me or explain some detail I'm missing. I just haven't been able to figure it out yet.

But again, let me say for the one thousandth time, I'm not anti-crypto. I do see value in blockchain technology. My two concerns are that I do not see how cryptos can be used as a medium of exchange or store of value right now, and I'm concerned that it will be the governments using block chain at the end of the day to control the activity and behavior of people using a type of social credit scoring system.
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Maybe few others wouldn't watch, but let's not pretend people don't watch just to try to find stuff to shoot down. We've all done that, usually subconsciously.
 
#574
#574
McDad said:
Wasn't the point. Isnt the point. In fact, your investment in Amazon is similar to the speculation in crypto by posters here.
Many stock investors cautioned against Amazon because the Earnings ratio (or some metric important to them) didn't conform to their standards. I read a blog where Amazon was a frequent topic of dire warnings. Those stock folks Didn't dissuade you. Hope you made a fortune. Now the cautionary shoe is on the other foot. I hope the crypto speculators make a bundle, too.
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There is a huge difference between Amazon and the crypto currencies, one adds value and the other is worthless.
 
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