Here's the inflation-adjusted price of gasoline every years since 1978 to 2021.

Cougsfan · Apr 18, 2022

Perhaps I am not that knowledgeable about bitcoin and other new trading platforms (nor do I care to learn much more), but they all seem to me to be little more than a Ponzi scheme. I am not really sure of the advantage other than if you buy it early and sell at the right time you will make money for doing nothing. Also they seem to be tailored for advancing criminal activities. Perhaps I am missing the supposed benefit. Doesn't seem like anything I'd be much interested in. Several star athletes have lost my respect for pushing bitcoin and such on TV ads. That along with their promoting of sports betting sites.

Snobdds · Apr 18, 2022

Cougsfan said:
Perhaps I am not that knowledgeable about bitcoin and other new trading platforms (nor do I care to learn much more), but they all seem to me to be little more than a Ponzi scheme. I am not really sure of the advantage other than if you buy it early and sell at the right time you will make money for doing nothing. Also they seem to be tailored for advancing criminal activities. Perhaps I am missing the supposed benefit. Doesn't seem like anything I'd be much interested in. Several star athletes have lost my respect for pushing bitcoin and such on TV ads. That along with their promoting of sports betting sites.

It's not a ponzi scheme. It's verified on a block chain and the payout is not dependent upon new money coming in. You have "keys" stored on a wallet held on an exchange.

It's not like the gov back ponzi scheme we call SS that is dependent upon new money paying off old money.

shooterdon · Apr 18, 2022

Snobdds said:
It's not a ponzi scheme. It's verified on a block chain and the payout is not dependent upon new money coming in. You have "keys" stored on a wallet held on an exchange.

It's not like the gov back ponzi scheme we call SS that is dependent upon new money paying off old money.

“Verified on a block chain” makes me feel so much better about its security.

I have a few lengths of chain and can cut up some blocks....now I need to get them verified.

Snobdds · Apr 18, 2022

shooterdon said:
“Verified on a block chain” makes me feel so much better about its security.

I have a few lengths of chain and can cut up some blocks....now I need to get them verified.

Tell us your old without telling us your old...

To date nobody has been able to hack a hash rate block chain code nor could they do anything with it with out a corresponding wallet. Two factor authencation on separate networks is kind of hacker proof.

Bill Guenthner · Apr 18, 2022

plowhog said:
The linked video is 1 hr long but I found it very informative. It's on the home page of the linked site.

This fellow owns a $5 gold piece from the mid-1800's. It was given to his grandfather in exchange for two days wages. He inherited it. This fellow who has it now tracks the value of gold being pretty closely tied to "2 days worth of wages" for over 150 years. Including now.

And-- he compares that to the value of having received a $5 bill instead of the $5 gold piece.

Extreme Preppers | Taking Prepping to a Whole New Level

What part of "stocks, land, or other assets" did you have trouble with? Gold is a terrible long term investment. You seem to be saying "Yes, but it's better than stuffing cash under a mattress.", OK, I'll give you that one.

Bill Guenthner · Apr 18, 2022

Snobdds said:
Tell us your old without telling us your old...

To date nobody has been able to hack a hash rate block chain code nor could they do anything with it with out a corresponding wallet. Two factor authencation on separate networks is kind of hacker proof.

I only have an engineering degree in computer science but I have to agree with the statement that crypto-currency is a Ponzi scheme. Yes, the blockchain is verifiable, in the case of crypto-currency it is a verifiable record of nothing, it's just a bunch of numbers in a file on a drive. Crypto-currency is definitely not "hacker proof." Wallets have been opened and emptied by hackers.

Snobdds · Apr 18, 2022

Bill Guenthner said:
I only have an engineering degree in computer science but I have to agree with the statement that crypto-currency is a Ponzi scheme. Yes, the blockchain is verifiable, in the case of crypto-currency it is a verifiable record of nothing, it's just a bunch of numbers in a file on a drive. Crypto-currency is definitely not "hacker proof." Wallets have been opened and emptied by hackers.

Ok...explain to me how it's a ponzi scheme? How does new pay off old money?

Privately held wallets have been hacked...I have not seen any on a exchange like coin based hacked that also have a "key".

Hay Dude · Apr 18, 2022

Wonder how much worse that chart will look when 2022 is figured in?

plowhog · Apr 18, 2022

Bill Guenthner said:
What part of "stocks, land, or other assets" did you have trouble with?

I own stocks, land, other assets. I am familiar with those investments as well as metal.

The video I linked to was to add a different perspective to the discussion. Members with rigid or hardened views probably wouldn't be interested. But that's ok.

I enjoy learning of competing ideas and perspectives about investments and investing-- even if I don't entirely agree with the approach.

Larry Caldwell · Apr 18, 2022

Cougsfan said:
Perhaps I am not that knowledgeable about bitcoin and other new trading platforms (nor do I care to learn much more), but they all seem to me to be little more than a Ponzi scheme. I am not really sure of the advantage other than if you buy it early and sell at the right time you will make money for doing nothing. Also they seem to be tailored for advancing criminal activities. Perhaps I am missing the supposed benefit. Doesn't seem like anything I'd be much interested in. Several star athletes have lost my respect for pushing bitcoin and such on TV ads. That along with their promoting of sports betting sites.

Bitcoin has its own built-in inflation known as Moore's Law. It is based on computer calculations, and the speed of computer cores is increasing at 30% to 40% a year. That's why high Nvidia graphic processors have been in such short supply. Three years from now they will be twice as fast. Bitcoin farming is already a profitable scam, and big farms are using the equivalent electrical supply of a medium sized city. Anyone buying bitcoin on the open market is mostly paying markup to the computer farms. It's not a Ponzi scheme, it's an out and out fraud, based on oversupply of money.

Paper money has never held its value. In my lifetime alone, the dollar has lost 90% of its value. If you are a frugal sort, don't keep your money in money. It's a loser.