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Old 03-22-2019, 11:56 PM
LoveLife LoveLife is offline
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And crypto just gets more and more exciting.
Can you say massive disruption?!

This is why people gotta stop thinking small.
It is also why Washington needs to pull finger.
While they're all worried about Trump,
Facebook coin could become the world currency.

Nothing is safe. Nothing will be untouched.


https://www.newsbtc.com/2019/03/21/f...n-kik-founder/
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Old 03-23-2019, 12:15 AM
PalmettoTree PalmettoTree is offline
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Originally Posted by LoveLife View Post
Again with the know-it-all-attitude.
You are living in the past.
Modern digital assets are different.

It is a currency that acts like a remittance.
Its a commodity that acts like a security.
You can set assets on crypto, and/or tokenize on other assets.
There are many coins that offer unusual combinations.

Just for this example, there is one that fits this conversation:
Tezos (XTZ) is a smart contract platform.
It has some very cool governance features.
It pays a 5.51% annual dividend.
Currently paying 7% due to a number of coins that have not
been activated by their owners.
It is PoS, so does not use energy like bitcoin.
Coin price is up 70.1% in 7 days.
That is a Strawberry Sunday!

The world is being revolutionized.
I understand if that scares you, but your kids and grandkids
need to know that times have changed.
It does not scare me. What I have is real. Money regardless of form is noting more than a mode of exchange. Today it is USD if, when and by what it will be replaced I have not clue. Still what will matter is the goods, services, and makers of those that are and will have value. A failed currency is worthless as a mode of exchange. A successful currency will still only be the mode of exchange.

What is relevant about say Bitcoin is that its value as a mode of exchange cannot be trusted. It went from zero the almost $20K to less than $4K in less than a decade.

None of the assets I hold vary that much. I do not let what I keep cost me more 10%. I put a valuation on what I buy. I calculate cost, risk, reward. I ask myself, what is needed today? If it is not needed in today economy and environment I do not buy it. I leave the want things to someone else.

Cyber currencies do not fit my standards they do yours. The numbers support my position not yours.

I once worked for a world famous economic expert. He could not manage a lemonade stand on a hot summer day. He ran every business he touched into bankruptcy.

To be honest by now it is clear you are trying to convince yourself not me of cyber currency worth. You offer ad hominem but no objective proof. Not even the WSJ thought enough of the idea to advance it.
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Old 03-23-2019, 12:19 AM
PalmettoTree PalmettoTree is offline
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No matter what any of you think of any of my opinions do not copy a talking head. If they knew so much they would be busy making money not telling people how to make money.
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Old 03-24-2019, 02:03 AM
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All i can do is offer you a smirk and a head shake there pallmall etto

It’s going to take you some time. That’s ok.
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Old 03-24-2019, 06:42 AM
rriley rriley is offline
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Originally Posted by LoveLife View Post

And crypto just gets more and more exciting. Can you say massive disruption?!


Yes, more and more exciting and massive disruption!


$96,811,400 in crypto scams ... and counting.

https://www.ccn.com/wp-content/uploa...scam-stats.jpg
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Old 03-24-2019, 09:38 AM
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Originally Posted by LoveLife View Post
And crypto just gets more and more exciting.
Can you say massive disruption?!

This is why people gotta stop thinking small.
It is also why Washington needs to pull finger.
While they're all worried about Trump,
Facebook coin could become the world currency.

Nothing is safe. Nothing will be untouched.


https://www.newsbtc.com/2019/03/21/f...n-kik-founder/
Have you ever considered a career in televangelism?
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Old 03-24-2019, 11:03 AM
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manimalist manimalist is offline
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Originally Posted by LoveLife View Post
Manimalist was that way. He'd just sit down at the keyboard and type whatever came into his head.
It's called thinking things through to their inevitable consequences.

You have stage one thinking. You're only looking to greedily gain from the losses of others. You don't see the consequences of what you have become...

...a leech feeding off of others, because you can't create your own wealth ethically by doing honest work to make a decent living.

Because you regard others as marks for you to take advantage of, you don't see the inevitable consequence that you are someone else's mark who is exactly as unethical as you are. I know you believe you're exempt from causality because you fancy yourself to be "smarter" than those other "fools". This is the narcissistic fantasy that makes you a fool.

I think it's good that you deserve to operate within a closed zero sum Ponzi scam with the other cheaters, because you and your kind have no effect on the decent folks who do business with others who share their ethical values.
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Old 03-24-2019, 07:45 PM
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Originally Posted by DayAfterTomorrow View Post
I can understand people using crypto-currencies. I don't understand people facination with gold and silver.
Its simple, gold and silver have over 4000 years of history. Thought that 4000 years they have always been the best investment for a fiat currency. Read up on the Romans, modern day Venezuela, or Zimbabwe. Gold and silver have always maintained there value. Your flaw here is you think the dollar is wealth and it is simply a piece of paper.

Money is a store of wealth not wealth and as the government prints more its value will be less and less. Its not the item you buy going up in price its the value of the dollar going down. That is why a candy bar cost $2.00 while 20 years ago it cost $0.50 dollars. Candy bars do not cost more, if anything they cost less with automation, if you look at the true value.
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Old 03-24-2019, 08:17 PM
PalmettoTree PalmettoTree is offline
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Money is a store of wealth ...
No money is not a store of wealth. Money is anything generally accepted as a mode of exchange for goods and services. Gold and silver are commodities. Non-perishable commodities have value. The value of non-perishable commodities vary so does the value of gold and silver.

Cyber currencies are not generally accepted as a mode of exchange for goods and services. At best they can be described as a barter novelty.

It is unclear if one or any will ever be money.

Gold and silver are the two commodities along with copper and nickel most often been used as money. They have always failed for a number of reasons.

There has never been enough gold in circulation for the common many to have money. When the commodity price exceeds the fiat value of gold or silver money they disappear as money. One only needs to study US history to prove this.

Independent cyber currency have any number of obstacles. Trust being number one. Here cyber currencies are caught in two contradicting test for money. On one hand if the cyber currency has a finite quantity limit then it will have the gold problem of eventually not being able to expand with demand. Without such a limit it will have the fate of most fiat currencies where too much is put into circulation.

Will the USD become a cyber currency of sorts? Back in the 50s and 60s I had a barber who would have argued it already had. He called it shifting figures. In other words money never changed hands only numbers in bank accounts.

Will some cyber currency become the World Banks currency? That might be the only way to create a third world money exchange without corrupting the money of real civilized countries.

In any case it ain't going to be gold or silver. This PM hoarder is glad of it. Those of us the actually understand the value of assets with intrinsic value as a store of wealth while money is just the current mode of exchange of good and services will continue to accumulate assets with intrinsic value.
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Old 03-25-2019, 02:30 PM
txprep txprep is offline
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Originally Posted by rriley View Post
Ha!

We have been doing same day wire transfers since before bitcoin.
What if you want to do your wire after 3pm?

How about 10pm?

Good luck with that..
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Old 03-25-2019, 03:15 PM
advantagecp advantagecp is offline
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Originally Posted by txprep View Post
What if you want to do your wire after 3pm?

How about 10pm?

Good luck with that..
Then it happens the next day. Big deal.
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Old 03-25-2019, 03:40 PM
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Have you ever considered a career in televangelism?
Bullseye Crackshot.

Corruptos are his secular religion because it justifies his unethical parasitic behavior of feeding off of others.
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Old 03-25-2019, 03:49 PM
txprep txprep is offline
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Then it happens the next day. Big deal.
Yes it *is* a big deal when you need your wire to go out now.

You can be happy with the status quo, but you will never anticipate people's unmet needs ahead of the curve. The people that make they big $$ find unmet needs where others are satisfied with the status quo.

I have had *many* instances where wire cutoffs were a serious pain. For example I once closed on a house on the friday before the 4th of july which fell on a tuesday. The wire went out on friday afternoon, but the seller did not get the funds until july 5th which almost killed the deal.

This was partially related to my bank not hitting the wire button until late monday.

You have to do a general ledger with a calculator, why do you need a computer, so it saves you a few hours, who cares?
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Old 03-25-2019, 10:52 PM
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Originally Posted by PalmettoTree View Post
No money is not a store of wealth. Money is anything generally accepted as a mode of exchange for goods and services. Gold and silver are commodities. Non-perishable commodities have value. The value of non-perishable commodities vary so does the value of gold and silver.
Well this is 100% correct. Sorry but you are 100% wrong. This is not my opinion this is a fact. Money is a long term store of wealth(value), a median of exchange, a common denominator, and easily divisible. By definition that is money. The dollar is not money it is currency however it is often used interchangeably. Here are a few links that state just that.

https://www.cliffsnotes.com/study-gu...tions-of-money

https://en.wikipedia.org/wiki/Store_of_value

https://www.investopedia.com/terms/s/storeofvalue.asp


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Originally Posted by PalmettoTree View Post
There has never been enough gold in circulation for the common many to have money. When the commodity price exceeds the fiat value of gold or silver money they disappear as money. One only needs to study US history to prove this.
Wow, and you quote history. Every read a Bible or study roman history. Did you know that Jesus was sold out for 30 pieces of silver. Roman coins were made from gold and silver before they inflated there currency. Ever hear of the word debasement? The Romans were coin clipping and reducing the gold and silver in their gold and silver coins. One only needs to study history to prove this.
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Old 03-26-2019, 01:26 AM
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Lovelife already dropped the mic on all of you haters.... i was lucky enough to watch the show realtime... its amazing that some of you think its a Ponzi scheme, and is “parasitic” .... to think of it like that is being extremely ignorant. You understand that right? If you don’t then you need to do more research. This is for your own good. One or two of you aren’t stopping the revolution. Not even the government will stop it. No government. It’s going to be the next big wave of innovation that is going to change the world.

...Just like the internet and all of the things that the internet brought along.... or even electricity.... what did electricity pave the way for? So many things. Also the lightbulb? What did light produced by electricity pave the way for? Ha ha ha at you if you still don’t understand what I am getting at. To vehemently trash talk the movement from your own factual point of view shows nothing but more stupidity. Not many facts have been established about the cryptosphere as of yet, but you can rest assured that one day you may have to google search this thread and say WOW i cant believe i was trash talking such a far reatching, life impacting innovation! Or you can take it to your grave and pretend the things you said here never even happened......
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Old 03-26-2019, 07:39 AM
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Originally Posted by stinger5900 View Post
Well this is 100% correct. Sorry but you are 100% wrong. This is not my opinion this is a fact. Money is a long term store of wealth(value), a median of exchange, a common denominator, and easily divisible. By definition that is money. The dollar is not money it is currency however it is often used interchangeably. Here are a few links that state just that.

https://www.cliffsnotes.com/study-gu...tions-of-money

https://en.wikipedia.org/wiki/Store_of_value

https://www.investopedia.com/terms/s/storeofvalue.asp




Wow, and you quote history. Every read a Bible or study roman history. Did you know that Jesus was sold out for 30 pieces of silver. Roman coins were made from gold and silver before they inflated there currency. Ever hear of the word debasement? The Romans were coin clipping and reducing the gold and silver in their gold and silver coins. One only needs to study history to prove this.
Not to mention that how much commerce is conducting with digital money already? Almost no one carries cash, if a business doesn't accept debit/credit cards its a huge inconvenience for customers.
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Old 03-26-2019, 10:26 AM
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you can buy a gun with bitcoin here

https://centraltexasgunworks.com/

Quote:
We now accept Bitcoin, Litecoin & Ethereum as a method of payment for online and in-store transactions.
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Old 03-26-2019, 10:33 AM
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Originally Posted by stinger5900 View Post
Well this is 100% correct. Sorry but you are 100% wrong. This is not my opinion this is a fact. Money is a long-term store of wealth(value), a median of exchange, a common denominator, and easily divisible. By definition that is money. The dollar is not money it is currency however it is often used interchangeably. Here are a few links that state just that.

https://www.cliffsnotes.com/study-gu...tions-of-money

https://en.wikipedia.org/wiki/Store_of_value

https://www.investopedia.com/terms/s/storeofvalue.asp

You seem to believe that if an article or academic source uses the words “store of value” they mean what you imagine or what ever you want it to mean. I cannot imagine you even read the sources you cited.

Money must have some store of value. This is why fish do not make good money.

“Store of value. In order to be a medium of exchange, money must hold its value over time; that is, it must be a store of value. If money could not be stored for some period of time and still remain valuable in exchange, it would not solve the double coincidence of wants problem and therefore would not be adopted as a medium of exchange. As a store of value, money is not unique; many other stores of value exist, such as land, works of art, and even baseball cards and stamps. Money may not even be the best store of value because it depreciates with inflation. However, money is more liquid than most other stores of value because as a medium of exchange, it is readily accepted everywhere. Furthermore, money is an easily transported store of value that is available in a number of convenient denominations.”
https://www.cliffsnotes.com/study-gu...tions-of-money

Note the above “double coincidence of wants problem.” This means if you work for fish the people you want to trade with may not want fish. So the store of value must be such that it meets the “double coincidence of wants problem between you and all you want to trade with. Meaning money must be a store of value long enough to meet the mode of general exchange. Store of value does not mean what you imply to be a time universal store of value.

Note in the source you cite the baseball card reference. Baseball cards do not have a universal time store of value. To the kids trading them they have one value. To the ageing collector remembering the players he emulated they have a generally high value. To the serious historical collector supply and demand determine the value. The cards stored some value but one cannot say they have a time universal store of value.

“Storage of value is one of the three generally accepted functions of money”
https://en.wikipedia.org/wiki/Store_of_value

Examples of the above can be found in various searches of Wikipedia also.


BREAKING DOWN Store Of Value
Wealth preservation is a key component of a healthy economy, especially in the formation of a currency or monetary unit. Money is relied upon to facilitate exchange and preserve the economic value of an individual or business's accumulated labor. A monetary unit that serves poorly as a store of value compromises an economy's savings and reduces its willingness to trade. Thus, a credible currency must be established for people to engage in labor and trade.
https://www.investopedia.com/terms/s/storeofvalue.asp
Note if you read carefully the investopedia says what I described Note “willingness to trade.” The USD in spite of its changes over time from 1878 to date has retained among the US citizenry willingness to trade. The USD has stored its value as the unit of double coincidence willingness to trade.
Did you really not understand this before you looked up the references? Did you really not understand this when you read it?

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Originally Posted by stinger5900 View Post
Wow, and you quote history. Every read a Bible or study roman history. Did you know that Jesus was sold out for 30 pieces of silver. Roman coins were made from gold and silver before they inflated there currency. Ever hear of the word debasement? The Romans were coin clipping and reducing the gold and silver in their gold and silver coins. One only needs to study history to prove this.
That is right! It proves my statement that: There has never been enough gold in circulation for the common man to have money. The money supply must be able to expand with the demand for money use.

Without an expanding supply of money a willingness to trade cannot be maintained because one never knows when the need for trade arises if there will be a double coincidence of value around.

Gold, silver, land are three finite commodities. They have varied in double coincidence of value over the ages. When one looks at three men one has food, one has shelter, one has PMs two of the three has a double coincidence of value. Neither the man with shelter needing food nor the man with food needing shelter has a double coincidence of value for PMs.

I do not care much for those that misuse scripture for a twisted secular point. You wrote. " Every read a Bible…” “Did you know that Jesus was sold out for 30 pieces of silver…” Well exactly Judas misjudged the coincidence of value. He put a value on God’s priceless gift.

You sir would do well to look for meaning rather than the twisted double entendre of words.
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Old 03-26-2019, 12:04 PM
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https://www.coinspeaker.com/bitwise-...g-volume-fake/
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Old 03-26-2019, 01:25 PM
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Originally Posted by PalmettoTree View Post
...That single company scrapes their data from the “81 top exchanges”......

...If you have paid attention to crypto news you should know that “exchanges” are some of the biggest problems with cryptocurrencies right now and have been since the beginning.... I cant even name more then 3-4 of them off of the top of my head.. and when I start getting to 3 and 4 those 3 and 4 positions are pretty poorly ran exchanges compared to Binance (BNB) which is the most trusted and most evolved/evolving exchange out there...

This article you linked is nothing more then FUD related junk.
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