Bitcoin

#451
#451
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#455
#455
32k tonight. Sorry, its just insane tulip mania. Either those of us on the sidelines shaking our heads are just way behind the times, or the people scrambling to own something purely digital are very foolish.
 
#456
#456
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#457
#457
Rasputin_Vol said:
I wish these guys all kinds of luck. I just don't know enough about cryptos to make me confident that they can't be hacked or created out of thin air like regular FED notes. I'm also concerned that this might be a backdoor way of getting people to used to digital currency before they finally do away with physical money and these guys were basically testing its resiliency over the last few years without knowing.
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If you’re worried about investing in crypto directly look into markets that drive the trade. GPU’s are used heavily in mining rigs, so companies like Nvidia/AMD or those with exposure to rig building would be good plays. My nvidia is up 250% from when I bought it a couple years ago.
 
#458
#458
lawgator1 said:
32k tonight. Sorry, its just insane tulip mania. Either those of us on the sidelines shaking our heads are just way behind the times, or the people scrambling to own something purely digital are very foolish.
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What could possibly go wrong?
 
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#459
#459
lawgator1 said:
32k tonight. Sorry, its just insane tulip mania. Either those of us on the sidelines shaking our heads are just way behind the times, or the people scrambling to own something purely digital are very foolish.
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It's fundamentally different from tulip mania. You can grow an endless supply of tulips. If/when BTC crashes, it won't go away as a currency like tulips did. It will still be used as a currency when we all die. Crypto is here to stay.
 
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#460
#460
Even if you don't care about the long term, you could have tripled your money if you invested in October. There's quick money in crypto, too.
 
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#461
#461
n_huffhines said:
It's fundamentally different from tulip mania. You can grow an endless supply of tulips. If/when BTC crashes, it won't go away as a currency like tulips did. It will still be used as a currency when we all die. Crypto is here to stay.
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Bitcoin is essentially the reserve currency for all Crypto at this point. Others will rise and fall most likely, Bitcoin will remain.
 
#462
#462
lawgator1 said:
32k tonight. Sorry, its just insane tulip mania. Either those of us on the sidelines shaking our heads are just way behind the times, or the people scrambling to own something purely digital are very foolish.
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This is headed to 100k.

Fun fact. $100 spent on BTC in 2010 would be worth $850,000,000 today.
 
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#464
#464
DrRosenRosen said:
2 Factor Authentication password. That's your password + Text message, call, email, authenticator app, etc. to log in.
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I use the AUTHY authentication app. The google authentication app seems to be locking people out when they change phones/devices by the reviews.
 
#466
#466
DancingOutlaw said:
If you’re worried about investing in crypto directly look into markets that drive the trade. GPU’s are used heavily in mining rigs, so companies like Nvidia/AMD or those with exposure to rig building would be good plays. My nvidia is up 250% from when I bought it a couple years ago.
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I would think that most of Nvidia’s gains are a result of gaming rather than crypto.
 
#467
#467
Thunder Good-Oil said:
I would think that most of Nvidia’s gains are a result of gaming rather than crypto.
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Nope. Try buying an RTX30x0 card right now. You can't. Bots have been programmed to buy them up as soon as they hit a sales website. The new architecture is a miner's dream. Same with aMD's new architecture.

You can try eBay, if you like paying 2x MSRP.
 
#468
#468
AshG said:
Nope. Try buying an RTX30x0 card right now. You can't. Bots have been programmed to buy them up as soon as they hit a sales website. The new architecture is a miner's dream. Same with aMD's new architecture.

You can try eBay, if you like paying 2x MSRP.
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Even recently, Nvidia’s sales of GPUs for gaming is several times greater than for crypto mining. Crypto hasn’t reached a billion annually as yet. I’ll repeat. Most of Nvidia’s stock appreciation over the last several years is because of gaming.
 
#471
#471
n_huffhines said:
What is the problem, exactly?
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The theory is that it's a static denomination of value, independent of governments, fiat currencies, or the other factors that weigh on currencies. But that would seem to have value only if traditional and stable currencies completely crashed. And if that occurred there'd be not much value to an electronic economy.

The claimed advantage for electronic currency of being easier to transfer is bogus. We have plenty of electronic apps that move the traditional currencies. We don't need an electronic currency to do it.

If the whole purpose is to hedge against currency collapses, again, it seems to me that what you are theorizing would be so massive a shock that going in to a store and offering bitcoin in exchange for standard groceries will be the least of your problems.
 
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#472
#472
lawgator1 said:
The theory is that it's a static denomination of value, independent of governments, fiat currencies, or the other factors that weigh on currencies. But that would seem to have value only if traditional and stable currencies completely crashed. And if that occurred there'd be not much value to an electronic economy.

The claimed advantage for electronic currency of being easier to transfer is bogus. We have plenty of electronic apps that move the traditional currencies. We don't need an electronic currency to do it.

If the whole purpose is to hedge against currency collapses, again, it seems to me that what you are theorizing would be so massive a shock that going in to a store and offering bitcoin in exchange for standard groceries will be the least of your problems.
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The difference between blockchain and "electronic transfers" is you have a bank taking a cut of wires. With blockchain it's little to nothing. There's 3-5% drag on moving currency so banks can get their hard earned share. Imagine getting back 3-5% of the world's GDP that moves by wire. And given the drunken sailor spending being done by the US, EU, etc. why wouldn't you want to put your money into a currency that isn't staring massive debt in the face?
 
#473
#473
lawgator1 said:
The theory is that it's a static denomination of value, independent of governments, fiat currencies, or the other factors that weigh on currencies. But that would seem to have value only if traditional and stable currencies completely crashed. And if that occurred there'd be not much value to an electronic economy.

The claimed advantage for electronic currency of being easier to transfer is bogus. We have plenty of electronic apps that move the traditional currencies. We don't need an electronic currency to do it.

If the whole purpose is to hedge against currency collapses, again, it seems to me that what you are theorizing would be so massive a shock that going in to a store and offering bitcoin in exchange for standard groceries will be the least of your problems.
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#474
#474
The thing that still baffles me is where do the cryptos come from? I kind of get how they can be transactional, much like a barter arrangement, but where did the initial value come from? I get digging a hole and pulling out gold, silver, diamonds, etc. But how does somebody invent a finite currency and establish an initial valuation?
 
#475
#475
Thunder Good-Oil said:
The thing that still baffles me is where do the cryptos come from? I kind of get how they can be transactional, much like a barter arrangement, but where did the initial value come from? I get digging a hole and pulling out gold, silver, diamonds, etc. But how does somebody invent a finite currency and establish an initial valuation?
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Because they said so.
 
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