Bitcoin - again Bitcoin - again - Page 2

starting strength gym
Page 2 of 4 FirstFirst 1234 LastLast
Results 11 to 20 of 32

Thread: Bitcoin - again

  1. #11
    Join Date
    Sep 2020
    Posts
    131

    Default

    • starting strength seminar june 2021
    • starting strength seminar august 2021
    • starting strength seminar october 2021
    Bitcoin is currently far more useful to the average Joe than gold and silver.

  2. #12
    Join Date
    Dec 2013
    Location
    Indiana
    Posts
    1,130

    Default

    Real estate, a truly limited and desirable resource. Significantly less volatile than dystopian currency.

    Why not spend your time and treasure there? Buy a little piece of land on the edge of town now, sell at a reasonable profit later.

    Entry barrier too high? Pool resources. Into the bargain, it’s a timeless education for all stakeholders.

    Incidentally, isn’t there a fundamental weakness with Bitcoin, since China is the largest producer? They have /massive/ ASIC farms minting coins somewhere in the middle of their country.

    From Satoshi Nakamoto’s original paper:

    “ As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they’ll generate the longest chain and outpace attackers. ”

    Seems that China could become the “majority of CPU power” (perhaps they already are), and thus could control the currency.

  3. #13
    Join Date
    Oct 2017
    Location
    Uk
    Posts
    1,424

    Default

    Quote Originally Posted by Matt Jackson View Post
    $3k! Fuck, man!

    I would keep telling yourself all that stuff too if I were you!
    It’s just an observation. Regret isn’t something I suffer from.

  4. #14
    Join Date
    Oct 2017
    Location
    Uk
    Posts
    1,424

    Default

    Quote Originally Posted by JJ23 View Post
    Bitcoin is currently far more useful to the average Joe than gold and silver.
    Define ‘useful’. Gold and Silver are stores of value-money. Bitcoin does the same job. Both have to be converted into fiat in order to be spent. The problem with BTC is its volatility -- good money is stable. Where BTC falls down is it’s reliance on computer technology. PM is a hard asset -- if an EM bomb was detonated, or there was a strong solar flare, then bang goes access. Whereas a coin or two of silver might still buy a loaf of bread.

  5. #15
    Join Date
    Jul 2018
    Location
    United Kingdom
    Posts
    245

    Default

    Musk just announced that he announced he bought Dogecoin - the joke cryptocurrency without a fixed supply. This has sent the market down, so you can get a $3-4k discount on the price of BTC if you're quick.

  6. #16
    Join Date
    Dec 2013
    Location
    Indiana
    Posts
    1,130

    Default

    Quote Originally Posted by Nockian View Post
    Define ‘useful’. Gold and Silver are stores of value-money. Bitcoin does the same job. Both have to be converted into fiat in order to be spent. The problem with BTC is its volatility -- good money is stable. Where BTC falls down is it’s reliance on computer technology. PM is a hard asset -- if an EM bomb was detonated, or there was a strong solar flare, then bang goes access. Whereas a coin or two of silver might still buy a loaf of bread.
    Do we expect the value of a single Bitcoin to be equivalent to the value of a single Tesla 3, Standard Trim?

    Like a piece of gold could always buy you one Nice suit.

  7. #17
    Join Date
    Sep 2020
    Posts
    131

    Default

    If an EM bomb were detonated, the most precious metals wouldn't be gold or silver. I generally agree volatility is a consideration but liquidity is the issue with gold.

  8. #18
    Join Date
    Jul 2018
    Location
    United Kingdom
    Posts
    245

    Default

    Good money is stable, but with a clear fixed supply technically BTC would be harder - more so than precious metals which can be produced more efficiently if the incentive to do so is there. Tesla is also getting into gold bullion btw.

    In the last hour:

    Mastercard Will Let Merchants Accept Payments in Crypto This Year - CoinDesk

  9. #19
    Join Date
    Aug 2010
    Posts
    210

    Default

    Quote Originally Posted by Nockian View Post
    Define ‘useful’. Gold and Silver are stores of value-money. Bitcoin does the same job. Both have to be converted into fiat in order to be spent. The problem with BTC is its volatility -- good money is stable. Where BTC falls down is it’s reliance on computer technology. PM is a hard asset -- if an EM bomb was detonated, or there was a strong solar flare, then bang goes access. Whereas a coin or two of silver might still buy a loaf of bread.
    I agree with everything you wrote, but it seems you're placing too high a probability on the chance of a world-wide EMP strike that cannot be (relatively)quickly recovered from. I expect that in such a scenario, I'd have larger worries than losing access to my bitcoin. That being said, I still own gold and encourage others to hold it as small percentage of their portfolio. As for the volatility, I'd expect that in the nascent stages of an entirely new type of money that is supplanting existing stores of value.

  10. #20
    Join Date
    Oct 2017
    Location
    Uk
    Posts
    1,424

    Default

    starting strength coach development program
    Quote Originally Posted by Laramie Hartmann View Post
    I agree with everything you wrote, but it seems you're placing too high a probability on the chance of a world-wide EMP strike that cannot be (relatively)quickly recovered from. I expect that in such a scenario, I'd have larger worries than losing access to my bitcoin. That being said, I still own gold and encourage others to hold it as small percentage of their portfolio. As for the volatility, I'd expect that in the nascent stages of an entirely new type of money that is supplanting existing stores of value.
    It’s just something else I consider when investing in BTC. Nothing is entirely risk free, not even Gold. I consider my strategy low risk.

Page 2 of 4 FirstFirst 1234 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •