Crypto Two

[NoTrespassing]

I thought bitcoin was a cryptocurrency. Man, this stuff is confusing!

You're not the only one:

What Can You Actually Buy With Bitcoin?

Bitcoin and other cryptocurrencies have attracted the interest of investors. But what can you actually buy with them today?

www.investopedia.com

Car dealerships​

Some car dealers already accept bitcoin as payment. The list spans a range of vehicles and encompasses luxury dealers that sell Lamborghinis (a favorite with bitcoiners) to those offering more utilitarian vehicles like Subarus. Electric carmaker Tesla has become the biggest and most recent name to join the list of companies that enable you to purchase cars with the cryptocurrency. Tesla founder Elon Musk is a crypto enthusiast, based on his Twitter feed, and has said that he supports bitcoin.3


In March 2021, via tweet, Musk stated Tesla would accept bitcoin as payment.4 But, a few short months later, Musk tweeted that Telsa was suspending bitcoin payment, citing environmental concerns.5

What is Bitcoin? | How Do Bitcoin and Crypto Work? | Get Started with Bitcoin.com

Bitcoin's origin, early growth, and evolution, what Bitcoin is used for, Bitcoin's basic features, Bitcoin's economic features, and who decides what Bitcoin is. | Wanting to get started with Bitcoin and cryptocurrency but unsure how it all works? Our online guides cover everything crypto, from...

www.bitcoin.com

What is Bitcoin?​

Bitcoin is the first and most widely recognized cryptocurrency.

 

[/pine]

... Because government's can't control it, is exactly why it's needed.

needed by arms dealers, black market vendors and other tax cheating vermin...!

As far as gtc goes when all the others go...an ebbing tide lowers all boats...

The blockchain is not going to save them...when the time comes the only people that will care about the blocks are the the ones trying to get their money back... it,the blockchain (ledger/DB) will be worthless except to the owners...

 

[MinnesotaEric]

MSN

Bitcoin’s last stand

The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.

www.ecb.europa.eu

Can anyone speak to this?

Gold and other precious metals is rarely used in transactions but gold and other precious metals are viewed as a means of warehousing wealth. If Bitcoin maintains that it too is a way of warehousing wealth, then Bitcoin is here to stay.

Moreover years ago I got into an argument with a goldbug (slang for those people who are perma-bulls for buying gold, gold, gold!) who claimed gold is money. I pushed back and told them gold isn't money! After all, if you tried to pay me with gold, how am I to assess the purity of the gold, or for that matter keep it in a safe place, or drag it along with me so I too could spend it on something?

If gold is money, it is among the most annoying kinds of money there is!

Meanwhile, Bitcoin always has a spot price and is easily transferred between parties and stored and carried around.

But only if we maintain faith that Bitcoin is valuable to some degree—which is what the article you linked to is pushing back against.

Unlike what the article says, the greatest threat to crypto is financial tech. With FinTech either we roll back to the wild west and each bank issues their own electronic currency (I shall call mine, EricBucks! smile) or each Central Bank issues their own digital currency (I'll lobby the Federal Reserve that we call our digital dollar, EricBucks, 'cause why not? Smile)

The primary issue at stake is if a digital currency is adopted for consumerism, which one(s) shall it be? and right now we are definitely in the wild west with zillions of cryptos all vying to become one of if not the primary digital currency.

As an example, right now in the news we're watching Elon Musk starting to pick a fight in terms of free speech with Apple, who, behind the scenes threatened to remove Twitter from the App Store if Twitter tried to bypass the App Store with in-app purchases. Elon has made it plain that he wants to be able to take $DOGE as payment and create a whole ecosystem of services within Twitter (thereby making Twitter truly into a digital town square), but Musk doesn't want to give Apple the 30% cut all Apps in the App Store currently give Apple. So Musk is slowly forming an anti-trust case against Apple.

Going forward we're going to see huge legal battles over currency platforms and so it is way, way too early to start making tombstones for Bitcoin and the like.

 

[/pine]

watch and learn...!

 

[JasperFrank]

"The blockchain is not going to save them...when the time comes the only people that will care about the blocks are the the ones trying to get their money back... it,the blockchain (ledger/DB) will be worthless except to the owners..." - /pine.
I completely agree with this. Who is going to make fractional pay outs on a distributed peer-to-peer net work, if there is no money in doing so. After the last coin is mined, and we are already in negative territory on that, why would anyone maintain the ledgers. All the ledgers will eventually be lost, as 1/5th of them have already been lost.
I just think of all that wasted energy using computing power to do nothing of use. It could have been set up to actually solve something, like a distributed supercomputer. A Coin based on the calculation, of modeling of protein folding or something. There has to be a way to monetize useful stuff like that, cause we have so many computers on the network now, and they are so much better then, just 5 years ago.

 

[two_bit_score]

It really wasn't. It was pretty soft actually, a case of over moderation.

Like most things that get deleted around here.

 

[Snobdds]

Like most things that get deleted around here.

Everything in moderation...including moderation.

 

[zoranutt]

I tend to buy a lot of mortgage-backed real estate investment trusts (mREIT), and back in March of 2020, when the market briefly tanked I got stop-lossed out of just about every position I had in the mREIT sector. I was looking at the charts thinking some hedge fund that invested in the mREIT sector was blowing up and forced to sell at whatever price to make margin calls, no matter how low the prices went. It turned out that AG Mortgage Investment Trust (ticker MITT), a company I had owned but got stopped out from was blowing up, but I didn't know that at the time and the whole sector, a sector I'm familiar with was on fire sale. So I looked at the charts, and saw MITT was trading for dimes on the dollar and bought with both hands. My discipline is that if something doubles, I take out at least what I put in and let the rest buck until it doubles again, wherein a take out another half as profits. Anyway, MITT sawed up and down for a good week before the street knew MITT was on the ropes. As it was because the underlying was a bunch of insured mortgages, MITT secured a new line of credit and survived having taken a huge ding in their asset values, but not before I swooped in and bought MITT preferred that after the dust cleared eventually settled in with a 170% gain and are still paying me 21% annual interest based on my original cost basis like on bonza casino australia

My experience is Mr Market goes batty about twice a year if you watch the markets daily.

Test drive as many tractors as you can before deciding on one; you won't be sorry if you do. We have a JD dealer 20 miles away, as well as a Yanmar dealer 80 miles south of me, but I went with the Yanmar dealer in Lubbock, which was 120 miles away. The people at K&S Tractor were extremely helpful in obtaining my tractor.

 

[Jstpssng]

Interesting thread, even though I felt like I was reading a foreign language. What I learned is that it's still best to leave playing the stock market to those who know what they are doing. I still don't know a thing about crypto...

 

[California]

Interesting thread, even though I felt like I was reading a foreign language. What I learned is that it's still best to leave playing the stock market to those who know what they are doing. I still don't know a thing about crypto...

Fellow outsider. Crypto looks like the wild west from here. Some fortunes made, some lost.

Follow some guru and make a fortune, choose the wrong guru and lose your 'investment'.

Use crypto to escape oversight by SEC and IRS, cry to SEC if the founder of your favorite shuts down and keeps the money. No recourse - there was (intentionally) no agency responsible for oversight.

So far it looks like a 'solution' in search of something to solve. With plenty of hucksters. Caveat Emptor!