What's your guy's take on Crypto?

[Maggot]

no thanks , credit cards are crappy enough .

But, but....Ive got 650,000 Hilton Honors points from using my Amex card. I wonder how many BC's I could get for them.

 

[cas6969]

I hold out my empty hand. Then I close my hand and say "What's in my hand is worth $1. No wait, now it's worth $10. No wait, now it's worth $100" And you say let me buy it before the price goes even higher!

And that's what it's worth as long as there's another sucker to buy the nothing from you.

 

[Pok]

At the risk of getting flamed I’ll ask my probably stupid question.

If crypto currency is just a different currency like dollars to euros. Then what is “mining it”. This idea of a different currency doesn’t bother me. If we were in simpler times “currency” could just be a product being bartered.

If it’s “mined” like a resource, then where does this resource originate? Does it belong to someone and you’re stealing it from them? It seems like it’s existence is completely made up and only exists because people agree it’s real and has value, until people decide it does not.

 

[Vodoun daVinci]

I kinda see it like the Way my money flows now - my employer deposits "credits" in Dollar amounts that I never see and only exist on paper. I use these credits to pay my bills and transfer credits from one repository (my accounts) to people I owe credits to. Everyone accepts "Dollar" designated credits but to pay for some service I have to convert the Dollar credits into Pounds or Euros. I never see/rarely see the credits as I never carry cash, pay all my bills online, or use my credit card and pay off the balance (again in credits I have never seen - only an accounting of how may credits I have) before I have to pay any interest.

Dun't matter to me what they call the denomination of the Credits....Dollars, Pounds, Euros, BitCoins. The day of American/Dollar dominance is numbered and someday, there will be a universal currency instead of hundreds of recalculations to convert value into another currency. What Mining is? I have no idea - seems to me the verbiage being used with the coming digital currency is like when computer and networks rose to prominence. The dialog and concepts were seemingly deliberately obtuse and convoluted to control the agenda and make sure we only worked with folks who could understand the jibberish and proprietary lingo.

How Does Bitcoin Mining Work? A Beginner's Guide

Bitcoin miners and mining are required for new bitcoins to enter into circulation. Mining is also a critical component of the security of the blockchain ledger.

www.investopedia.com

VooDoo

 

[Maggot]

I hold out my empty hand. Then I close my hand and say "What's in my hand is worth $1. No wait, now it's worth $10. No wait, now it's worth $100" And you say let me buy it before the price goes even higher!

And that's what it's worth as long as there's another sucker to buy the nothing from you.

Could you explain that to @Choid

 

[Maggot]

I kinda see it like the Way my money flows now - my employer deposits "credits" in Dollar amounts that I never see and only exist on paper. I use these credits to pay my bills and transfer credits from one repository (my accounts) to people I owe credits to. Everyone accepts "Dollar" designated credits but to pay for some service I have to convert the Dollar credits into Pounds or Euros. I never see/rarely see the credits as I never carry cash, pay all my bills online, or use my credit card and pay off the balance (again in credits I have never seen - only an accounting of how may credits I have) before I have to pay any interest.

Dun't matter to me what they call the denomination of the Credits....Dollars, Pounds, Euros, BitCoins. The day of American/Dollar dominance is numbered and someday, there will be a universal currency instead of hundreds of recalculations to convert value into another currency. What Mining is? I have no idea - seems to me the verbiage being used with the coming digital currency is like when computer and networks rose to prominence. The dialog and concepts were seemingly deliberately obtuse and convoluted to control the agenda and make sure we only worked with folks who could understand the jibberish and proprietary lingo.

How Does Bitcoin Mining Work? A Beginner's Guide

Bitcoin miners and mining are required for new bitcoins to enter into circulation. Mining is also a critical component of the security of the blockchain ledger.

www.investopedia.com

VooDoo

Good explanation in the first part. The article left me as confused as ever. Cash is King.

 

[Vodoun daVinci]

Good explanation in the first part. The article left me as confused as ever. Cash is King.

Cash is King for another 20 minutes. The Old Days/Old Ways are going to disappear. I'm pretty sure "cash" will be a digital/universal thing before I die in the next 30 years. It's all gonna change...right or wrong/good or bad "The Good Old Days" and 1960's "Normal" are dead and gone.

VooDoo

 

[theLBC]

too late for me to make any money from it, but i don't want this to take hold and replace what we have after seeing that the government can or will try to prevent your access to electronic banking if you don't agree with everything they say or do.

 

[Maggot]

Cash is King for another 20 minutes. The Old Days/Old Ways are going to disappear. I'm pretty sure "cash" will be a digital/universal thing before I die in the next 30 years. It's all gonna change...right or wrong/good or bad "The Good Old Days" and 1960's "Normal" are dead and gone.

VooDoo

Exactly why Im glad to be 72. I really dont want to see what the next 30 years holds because I dont think its going to be pleasant.

 

[DarnYankeeUSMC]

Canada shut it down. Aaaand here comes the people that will say bullshit they didn't.
Canada shut down every means of people (truckers and others) to access any of their financial means. No bank, no credit cards or anything. So you can get your Bitcoin in your purse or something. Big deal, what are you going to do with it? You can't make a house payment, you can't make a car payment, you can't pay your property taxes, you can't buy groceries with it, you can't pay for a doctor's appointment and you can't eat it. So you are going to give it to a friend to make those payments? Ummm sorry! The Bank is not accepting any payments for your account!!

too late for me to make any money from it, but i don't want this to take hold and replace what we have after seeing that the government can or will try to prevent your access to electronic banking if you don't agree with everything they say or do.

Ask the Russians how it's working out. They have the money to make payments but no one will accept it therefore delinquent.

 

[rustyinbend]

I don't know much about the whole Cryptocurrency situation, so anyone with experience, I'm just curious as to what your take is.

It's like buying an Alpaca ranch ... the only way to make money at it is to get some other dumb bastards to buy your Alpacas. Another analogy is that it's like buying "Air", and hoping that some day you'll get to breath it. I'll pass ...

 

[Short-bus]

I think the time to make easy money on crypto has passed. Any money to be made will be volatile, and subject to the whims of whatever clowns we have in D.C. when they decide they want to regulate it because they think everyone using it is either a criminal, or a tax cheat. Anything that comes out that has the potential to remove governmental control of any form of currency, will be slowly restricted, or eliminated over time through whatever means the .gov comes up with.

Branden

 

[Vodoun daVinci]

Exactly why Im glad to be 72. I really dont want to see what the next 30 years holds because I dont think its going to be pleasant.

I just turned 66 and retired in January...actually, Rage Quit and decided to just call it DoNe!~ Just in time to watch my Retirement Income Fund that was *supposed* to be getting me another $3000 a month (it has been growing and earning me that much the last 5 years) loose roughly $30K since January. I'm not panicked yet but it's hard to remain optimistic amidst the signs of a coming Recession. Like the one in 2008, I think this one will shoot it's wad in 2 years and as long as I stay invested for the long haul (and I will) this'll just be a bump in the road.

I'm planning on being here another 30 years so I hope yer wrong about The End being near - I think our Republic has failed but I'm pretty sure we'll pull out of the current Economic Weirdness eventually and Life will go on albeit not as it has been the last 30 years.

Crossed fingers.

VooDoo

 

[SWgeezer]

The same could happen if...the rest of the world said we will no longer accept dollars as currency, it has been thrown around, I don't really see it happening soon, who knows. All depends on China for the time being.

 

[Hobo Hilton]

Nothing like burying "it" in the back yard.
___________________________________________

Once the Secret Service pins down the illegal activity, it works to “dig a little deeper into those transactions and deconstruct [them],” Smith said. “You send me something bad on an email, I know there’s some criminal activity associated with that email address, I can deconstruct, find whatever tidbits of information that you used when you initially logged in or signed up for that email address.”

Secret Service seizes more than $102 million in crypto assets

The U.S. Secret Service, known for protecting the president, is taking aim at illicit digital currencies, seizing over $102 million in the past seven years.

www.cnbc.com

 

[spamassassin]

When you lose faith in fiat currency unbacked by literally anything but which actually physically exists, might as well turn to a currency backed by exactly nothing and which doesn't physically exist, oh and which the US intelligence agencies are the single largest holders of. Yep. Seems totally legit.

 

[Mr.BR]

Investments in gold, silver, or weapons are a safer option because we are sure they will not fall. Or at least they won't fall sharply. This type of currency is a little less volatile and new to the market, but from my experience, I can say that it is worth it. I bought Ethereum on this platform, and I am more than satisfied. I'm not sure how things will develop further. However, I decided to work with this platform because it's one of the safest I've tried. And it allows me to compare every currency to find the best one for me, which is amazing, and not many platforms have that option.

Yet most folks that think they are investing in gold and silver are really only trading intangible derivatives that are as manipulated as anything else . Unless you are actually taking ounces in hands and storing them .

 

[philly1010]

Numbers on a computer screen. Can be deleted or absorbed by controlling entity.

 

[BullGear]

We've had discussion here many times about the importance of owning physical gold (in your hands) and yes, it is the only metals you actually own.

 

[pineoak]

Good friend of mine, very tech savvy professional in the industry is telling me years ago to get into crypto and not be left behind.

I think Etherium was the thing at the time, Bitcoin was doing well.

Showed me his best quality very pricey digital wallet and explained the tech behind it.

Explained to me what I needed to do to get into crypto. So I discussed with others and decided to drop 5 figures and see where it goes.

Next time I see him, as I'm about to commit and invest... something went horribly wrong with his digital wallet... unable to access ANY of his funds. NO WAY to get access to his $$$

Essentially, lost forever. Wife is angry with him on a level I've never ever witnessed from one spouse to another. No clue how much was tied up in there but it was likely a HUGE amount.

After watching that train wreck... I'm too scared and gun shy to put my trust into that stuff given how tech savvy he is.

Same guy that got solar panels early, mines bitcoin with a server farm, etc.

I think I'd rather just work at 5 guys burgers in my spare time and make $17.50/hr

 

[Longshot231]

 

[Milf Dots]

Digital currency is for sheep who want to be controlled.

 

[Father O’blivion]

Might as well revive a year-dead thread just to shit on it. Patience truly is a virtue.

 

[Mister Ridge]

Might as well revive a year-dead thread just to shit on it. Patience truly is a virtue.

It was bumped by a bot. The post seems to have been deleted.

 

[TheOtherAndrew]

I actually knew one of the first 100 networking HUB mining guys for Bitcoin. He made tons of money - millions/yr.

I wouldn't buy a bitcoin though fuck that nonsense.

Gold standard is a currency, fiat currency is money. Im still in for the evolution to money over currency.

 

[Father O’blivion]

The long and short is it’s gambling.

 

[lonegunman762x51]

Crypto is shit. It is perfect for idiots, retards and drug traffickers. The problem with anything digital is that is can be made to disappear as soon as you question authority or do anything the powers controlling the scam disagree with.

I have a theory that has been proven correct time and time again. The hate mongering communist twats that run the world show you how shitty you life will be in movies and on TV for a few moneths or years before they take yet another dump on personal freedom and your life. Back in the 1990's there was some shitty submarine show on NBC with the creepy cop from "Jaws". The navy was even more faggot filled than usual in this future and the government controlled everything. In this show, one of the characters was riding his motorcycle and he got a phone call that said, " $250 pesos/dollars/cuck bucks have been deducted from your checking account for speeding" and hung up. He whined a bit and kept driving.

His bike was connected to government overseers who monitored him constantly and they took his money with no due process because they had complete control of his finances and he was not upset. It was one of the first times they showed you the future they dream of. Complete control by your overlords with no recourse, you will be a keystroke from poverty.

When a retarded 25yo can fuck the world out of billions with elected officials kissing his ass for a cut, ala FTX. We are fucked and if you used your money to invest, they fucked you and do not care.

 

[TheOtherAndrew]

 

[TheOtherAndrew]

I mean you're right but going a bit far

 

[Longrangeenthusiast]

Fuck crypto

 

[sirhrmechanic]

Look at all the new gun enthusiasts getting in on a necro thread!

Hello fellow enthusiasts!

Sirhr

 

[Niles Coyote]

Say what you want about crypto but my 56% return on a 22 month investment was nice... invest what you can safely lose when its low and sell high, purdy simple.

 

[Hobo Hilton]

Crypto is backed by "nothing".

Crypto entrepreneur charged with defrauding investors out of $150 million through marketing scheme

Federal prosecutors announced charges against a German businessman, alleging he scammed investors out of more than $150 million in a crypto fraud scheme.

www.cnbc.com

 

[Hobo Hilton]

We've had discussion here many times about the importance of owning physical gold (in your hands) and yes, it is the only metals you actually own.

Those discussions continue as the Crypto con artist steal money and are not prosecuted.

https://apnews.com/article/sam-bankman-fried-ftx-second-trial-b01fae9f9dd69f2ac2e8bbda21d277ff

 

[30calDeath]

I got a decent amount, will be good on my return in the next 18 months.