Bitcoin, Cryptocurrency, and the Future of Global Finance

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#1,530
n_huffhines said:
The applications are actually pretty amazing. Say I'm a starving artist now and sell you a canvas painting for $500. I certify the painting with an NFT smart contract stipulating that if you sell it, I get 25% of the markup. So in 5 years when I become famous and you sell it for $1m, I get $250k.

My sister runs an art gallery and it's all moving to NFT's.
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If the artist continues to hold a security interest in the NFT, then he didn’t really sell it.
 
#1,533
#1,533
theFallGuy said:
just busted through $44k. Can this rally sustain itself is the question.
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In the short-term, I don't think we are out of the woods. I thought we would break through the $30K floor briefly before a real sustained rally. Still think that is fairly likely.

In the long-term, $44K will be a steal.
 
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#1,535
Here’s my crypto question for those of you who understand it better than I do:

I get the limited supply and understand why that’s a positive…but does the fact that you must buy everything in fractional amounts not limit it’s utility and make relative cost calculations very difficult?
 
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Vol8188 said:
Here’s my crypto question for those of you who understand it better than I do:

I get the limited supply and understand why that’s a positive…but does the fact that you must buy everything in fractional amounts not limit it’s utility and make relative cost calculations very difficult?
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I disagree that there’s a limited supply when thousands of names have been created.

The technology isn’t restricted by fractional shares. It’s simple math.
 
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Thunder Good-Oil said:
I disagree that there’s a limited supply when thousands of names have been created.

The technology isn’t restricted by fractional shares. It’s simple math.
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There’s a restricted supply, is that a better way of staging it?

Regardless it results in a currency where you have to use very small fractions to purchase most things. Is that not a disadvantage? It seems it would make comparative calculations difficult
 
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#1,538
Vol8188 said:
There’s a restricted supply, is that a better way of staging it?

Regardless it results in a currency where you have to use very small fractions to purchase most things. Is that not a disadvantage? It seems it would make comparative calculations difficult
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Bitcoin has a maximum supply. The limit on creating new currencies is infinity.

The conversions will be calculated and kept in real time on everybody’s PDA. The brokers and exchanges like Coinbase will enable transactions to be seamless. The question is whether or not consumers will take to adopting crypto transactions at the micro level and how first world central bankers and Russia/China address control of transacting international trade at the macro level.
 
#1,539
#1,539
Vol8188 said:
Here’s my crypto question for those of you who understand it better than I do:

I get the limited supply and understand why that’s a positive…but does the fact that you must buy everything in fractional amounts not limit it’s utility and make relative cost calculations very difficult?
Click to expand...

The value is in the blockchain technology, not necessarily the limited supply (secondary factor for sure). Plenty of shitcoins have practically unlimited supply.

To your point, I do think the unconventional pricing is one of the last major problems for mainstream adoption and full replacement of fait currency. In many ways, it is a marketing problem versus a technological problem. Unfortunately, most crypto is coded, developed, and adopted by tech savvy people versus people who have the skillset to bridge it over to the mainstream market.
 
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85SugarVol said:
Anyone in here seeing any utility with crypto yet? Especially given some of the issues up north, eh?

What say you @n_huffhines ?
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I’ve yet to see anybody whip out their crypto card to pay for their dollar menu purchases at Taco Bell, but I don’t doubt that it is coming. Millennials and younger will be early adopters. Personally I won’t be lining up to give 1or 2% of each transaction to the middlemen. But I’ll be checking out those companies that will be collecting it (PayPal? CoinBase? RobinHood? Visa/MC? Schwab?).
 
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#1,543
Thunder Good-Oil said:
I’ve yet to see anybody whip out their crypto card to pay for their dollar menu purchases at Taco Bell, but I don’t doubt that it is coming. Millennials and younger will be early adopters. Personally I won’t be lining up to give 1or 2% of each transaction to the middlemen. But I’ll be checking out those companies that will be collecting it (PayPal? CoinBase? RobinHood? Visa/MC? Schwab?).
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I haven’t seen any crypto cards yet either. But that was not what I was getting at.

What is the point of decentralized finance? Is there a use case playing out in real time?

(I’m not quizzing you specifically, just posting questions to the thread).
 
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#1,544
#1,544
85SugarVol said:
I haven’t seen any crypto cards yet either. But that was not what I was getting at.

What is the point of decentralized finance? Is there a use case playing out in real time?

(I’m not quizzing you specifically, just posting questions to the thread).
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I’m not really following, but that’s okay. I’m pretty ignorant to macro economics and the world banking oligarchy.

I look at crypto from two ends. Transactional and storing of wealth for individuals AND the movement of huge sums of money between countries. I can see crypto accounts becoming mainstream with governments overseeing the activity so that they will get their cuts. The more interesting and important impact will be whether or not all world trade will continue to flow through Wall Street and London and Tokyo and Hong Kong and Paris and Frankfurt and Chicago and Singapore and Seoul and Boston etc. Crypto enables Iran to trade with Venezuela or Vietnam directly without being held hostage to US dollars and other currencies as a reliable guarantor of currency valuations for settlement. It takes away the ability of the world banking empires to sanction rogue nations and might be the biggest risk of triggering WWIII.
 
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#1,546
What I can’t get my arms around is how governments will push back. Right now companies have foreign subsidiaries to work around oppressive tax rates in various countries. How would an international currency fit into the equation?

I also don’t really get the potential capital gains treatment. It’s pretty easy for the IRS to find pure speculation in trading accounts. But what will they do when citizens have crypto checking-type accounts? Put $1,000 US dollars into a Bitcoin checking account, it appreciates to $25,000 and then the owner buys a car. Is the government going to come after the $24,000 appreciation in the currency?
 
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#1,547
n_huffhines said:
You mean have I used it as currency? No. I work with a guy who buys stuff sll the time with it.
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Gonna try and keep this to crypto in this thread.

I think it would be interesting to see what happened if certain protestors north of the border were able to employ decentralized finance to combat some of the monetary issues they’re facing.
 
#1,548
#1,548
If you have not figured which assets are scams and which have utility by now you are very likely to miss the boat.
 
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