Cryptocurrency Quotes for Investors Who Don’t Need No Fed - Page 3 - Politics Forum.org | PoFo

Wandering the information superhighway, he came upon the last refuge of civilization, PoFo, the only forum on the internet ...

"It's the economy, stupid!"

Moderator: PoFo Economics & Capitalism Mods

Forum rules: No one line posts please.
#15201302
colliric wrote:El Salvador again buying the dip.


This quote reminds me of Rugrabi, a Warhol art collector who buys Warhol paintings at very high prices to retain the value of his collection which will crash if he just sold. He buys the dip too.

Perhaps El Salvador buying dips is what is keeping the price inflated. Good for you. Bad for El Salvador. :hmm:
#15201339
B0ycey wrote:Although it should be said that currency has a means beyond investment. And of course Bitcoins value is on speculation that someone will buy into it and as such is in essence a ponzi. We just don't seem to be running put of suckers. :hmm:

Image
"Ain't dat da truth!" :)
#15201385
B0ycey wrote:Although it should be said that currency has a means beyond investment. And of course Bitcoins value is on speculation that someone will buy into it and as such is in essence a ponzi. We just don't seem to be running put of suckers. :hmm:


Bitcoins value is that you can launder fiat, and use it to make millions in illegal purchases anonymously (if you do it right, some shitcoin conversions required). The mafia and thus crime drives its utility and value therefore it's not going anywhere because criminal enterprise is a constant.
#15201398
Igor Antunov wrote:Bitcoins value is that you can launder fiat, and use it to make millions in illegal purchases anonymously (if you do it right, some shitcoin conversions required). The mafia and thus crime drives its utility and value therefore it's not going anywhere because criminal enterprise is a constant.


You can also use it to hide your financials from the tax office and your former spouse if she's a bitch (she is). At least if you buy it using a VPN to an offline wallet, not directly from your exact bank account, and not using an online broker. Still it's hard to find and freeze even if you tell them you have it. Lawyers have to do an asset search and that's legally hard to get permission to do.

It's like these other users have never seen The Godfather 2, Goodfellas or Casino, and completely forget how both Las Vegas and Hollywood were originally founded, for what purpose and by whom. Heck why do you think the governments across Australia invented Tattslotto and the TAB? To stop organised crime having a monopoly on both Lotteries and Horses(/Footy/Cricket).
#15201466
Igor Antunov wrote:Bitcoins value is that you can launder fiat, and use it to make millions in illegal purchases anonymously (if you do it right, some shitcoin conversions required). The mafia and thus crime drives its utility and value therefore it's not going anywhere because criminal enterprise is a constant.


Actually Bitcoins use today in not the same as yesteryear. Its value today is due to people not selling and holding.
#15201525
B0ycey wrote:Actually Bitcoins use today in not the same as yesteryear. Its value today is due to people not selling and holding.


No. Its value comes from the fact it is a finite supply, and mining has because expensive and will get more expensive the closer you get to the final bitcoin on the blockchain because the required hash rates go up as the mathematical problems get more difficult to solve. There were more people holding bitcoin as a reserve of value/speculative asset in 2017 when it reached a high of $20k than today at 50k.

In this way it is not a ponzi scheme, new investors are not required to keep its value, nor grow it.

Now let me tell you about the US Federal Reserve, a literal ponzi scheme....
#15201530
Rancid wrote:How much of that reserve was value, and how much was speculation though?

So, what bitcoins and associated shitcoins do you hold? Which do you think I should get into?


I hold none at the moment. I cashed out and am awaiting the start of the new year to purchase again. One must have self imposed rules and boundaries. I believe crypto will stagnate outside of a handful of rug pulls or scams for the time being. Unvaxxed Sperm is one such scam, however had you been in on it you would have seen 500% returns in the couple months its been doing the rounds.

Dogecoin like Tesla itself is pure speculation. The scale and future potential of these does not in any way reflect the perceived valuation. Doge is musks twitter meme currency, a troll con, and tesla EV's are a hipster fad. There are bigger, better and far more solvent EV producers.

Now SpaceX's starlink is a surefire bet however. Although still small in terms of customer base, still losing money and still under construction, its future is epic. Invest in SpaceX. They put up another 70 sats since I set up my dish and my service interruptions have gone from 1-2 per day at 5-10 seconds a pop to 0. My service now maintains 300mbit at all times and latency/ping is always under 33.

If they can get their big mars rocket going then expect even bigger things with SpaceX.
#15201572
colliric wrote:Yeah I'm willing to put a minimum investment on Space X if it goes public. You get any whiff of an IPO I'm willing.


Sure however keep in mind that in the event of a low-orbit kessler syndrome cascade event (which would be a likely scenario if US intervenes in a Chinese invasion of Taiwan or Russian annexation of Ukraine) our access to all space based technologies and services will be lost for a few centuries, rendering SpaceX worthless. Indeed, much of the modern digital economy would grind to a halt so losing out on ones investment would be the least of one's concerns.
#15201576
Igor Antunov wrote:Sure however keep in mind that in the event of a low-orbit kessler syndrome cascade event (which would be a likely scenario if US intervenes in a Chinese invasion of Taiwan or Russian annexation of Ukraine) our access to all space based technologies and services will be lost for a few centuries, rendering SpaceX worthless. Indeed, much of the modern digital economy would grind to a halt so losing out on ones investment would be the least of one's concerns.


I'm more concerned some evil fuck gets pissed off and executes 006's EMP plan in Goldeneye on a bigger scale, since it's actually quite realistic. Last year we got On Her Majesty's Secret Service's evil Omega Vareint plan come to life....

Last I checked Omega was the last letter in the Greek Alphabet. So it's inevitable they'll get to Omega Virus. 9 names left so far.

It's like the world is really being run by Bond villains at the moment.
#15201619
Igor Antunov wrote:No. Its value comes from the fact it is a finite supply, and mining has because expensive and will get more expensive the closer you get to the final bitcoin on the blockchain because the required hash rates go up as the mathematical problems get more difficult to solve. There were more people holding bitcoin as a reserve of value/speculative asset in 2017 when it reached a high of $20k than today at 50k.

In this way it is not a ponzi scheme, new investors are not required to keep its value, nor grow it.

Now let me tell you about the US Federal Reserve, a literal ponzi scheme....


Igor, Bitcoin has NO intrinsic value. It should be by all definition valueless. The only reason it has value is because people think it has value. And those idiots are willing to exchange it for something that does have value which is fiat currency. Fiat currency has value due to it being backed up by national assets (liability), interest rates and taxation. Three things Bitcoin doesn't have. And as such the irony is without fiat currency, bitcoin wouldn't even have a function at all (given people who have bitcoin use it as an investment against the Dollar). The finite supply just means there is a finite supply. Like gold I guess. And like gold, if there is no buyers into it, the price crashes and the rollercoaster ends.

I don't know when the ride will end but I do know that the energy needed for it means Bitcoin will never be used for the purpose it was invented for which is medium of exchange on a vast scale. So it currently is a ponzi scheme. Only a ponzi scheme that has loads of suckered still willing to buy in. :hmm:
#15201628
Fiat = Public
Crypto = Private

Get it yet @B0ycey? One day you will.

It is in fact a private currency system. You have to pay "premium fees", just like going to private school or using the private healthcare system. You pay more, but you also get better service and less government oversight.

It will be used as intended.

Also how many times do I have to say it? The "transactions" you're referring to when you talk about it's energy usage is the mining transactions and not the actual buying and selling transactions. EL Salvador is doing just fine using it.
#15201629
colliric wrote:Fiat = Public intrinsic
Crypto = Private[s] faith


Get it yet @colliric One day you will.

Also how many times do I have to say it? The "transactions" you're referring to when you talk about it's energy usage is the mining transactions and not the actual buying and selling transactions. EL Salvador is doing just fine using it.


Transactions isn't a euphemism for Mining Colliric. If we only used Bitcoin tomorrow, we would need to increase our global power outage by ten. El Salvador is doing fine because Bitcoin is legal tender and not their national currency. The dollar in El Salvador is still king. Besides, remember the protests over Bitcoin over there? I do. What a success. :roll:

I agree that people should have self determination[…]

Djokovic was granted a medical exemption officia[…]

Thermal Storage - Solar ICE https://www.youtube.c[…]

Meth and the homeless

To be fair, the root cause of meth addiction is t[…]