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bitcoins

The value of precious metals is as phony as crypto, only difference is the value of one has been beaten into us for centuries. Steel isn't precious, but in use it has far more value than gold.
 
More use perhaps, but Gold, Silver and Platinum all have industrial and commercial uses. Steel components are not rare. G/S/P are.
 
They all have more uses today in platings and whatnot, but their value comes from a time when it was literally....oooohh shinyyyyy. So they started out valuable but worthless, now they're valuable and somewhat useful. It's a parallel to where crypto is at in infancy, yet we dismiss it because there's no apparent value without consideration for future value, just like the things we've been programmed to think are precious that kinda aren't.
 
jt2 said:
Precious metals have intrinsic value. Crypto has none whatsoever. Further, as Ernie pointed out, there are very low barriers to entry. I don't see the parallel.
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People invest in Gold/Silver/Platinum the same way. Rarely do people keep ACTUAL bullion in their house. It's extremely rare.

Precious metals have a barrier to entry, mining or value. Cryptos have a barrier to entry, mining or value.

Mining a cryptoconcurrency takes hardware investment, energy investment, and time. BTC and other cryptos have a set amount of coins possible. BTC has a limit around 23million coins if memory serves correct.

Some cryptos don't have a limit but get their value in other ways.

Gold/Silver/Platinum have a finite amount (on earth) possible.

Cryptos get harder to mine (generally speaking) as time passes and some have a finite amount (depending on design)

They also have value in the fact they are a currency not controlled by a bank or government. The Fed or other governments currencies can be manipulated. The US Government can print more money or not (same for other governments). They can pull levers and manipulate value. Cryptos that cannot be done as no central authority controls them.

I will also add cryptos have value in the fact that each transaction is documented. Additionally, each transaction does not need to clear a bank when dealing with cryptos. Something banks are not to happy about.
 
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byke said:
The value of precious metals is as phony as crypto, only difference is the value of one has been beaten into us for centuries. Steel isn't precious, but in use it has far more value than gold.
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The market price of precious metal is absolutely phony... but the value? :nchantr

1.) Women the world over desire it for its unique beauty. Value [check].

2.) Precious metals have unique properties that make it useful to many different industries. Value [check].

byke said:
They all have more uses today in platings and whatnot, but their value comes from a time when it was literally....oooohh shinyyyyy.
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3.) Yeah. You must be right. Central banks around the world have been net buyers of physical gold for the last ~7 years - acquiring at clips never seen before - because "oooohhhh shinyyyy". :rolleyes

Until women prefer adorning their bodies with hardware wallets instead of gold and silver, I remain firmly in the precious metal camp and fuck all this digital nonsense.
 
1.) Uncheck.

2.) Already agreed, but that's newer value and not what created the value. Number one is what created the value. Don't forget its place in dentistry, btw.

3.) So your answer is because banks want it? Just peel back one layer and tell me why banks want it. Hint; because number one.
 
Those of you with significant bitcoinage...can you, right now, go sell the bitcoins in their entirety for their alleged value and get money, now for them?
 
asdfghwy said:
Please explain
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The framework for blockchain, smart contracts, hardware wallets and crypto currency was created at least 20 years ago, and likely much earlier than that. By federal, if not global, governmental agencies and think-tanks.

A place to start is this NSA white paper, produced in 1996, called How To Make A Mint: The Cryptography Of Anonymous Electronic Cash

http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm

Bitcoin is either a private experiment which the government/banking complex is allowing to run course because they plan to implement a crypto-currency of their own, or, this all just one big beta test by the deep state itself. Regardless, I don't believe for one second that the ubiquitous technocratic establishment will settle for anything less than total control over the global digital frontier.
 
HappyHighwayman said:
Those of you with significant bitcoinage...can you, right now, go sell the bitcoins in their entirety for their alleged value and get money, now for them?
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Define significant? There are people buying/selling in realtime 24x7x365 (these markets never close). Everything form the most minute amount to several coins. Some buy/sell coins, others cash in or cash out. It's essentially this activity and volume that drive the price. You can watch for yourself to get a little better picture https://www.gdax.com/trade/BTC-USD
 
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HappyHighwayman said:
Those of you with significant bitcoinage...can you, right now, go sell the bitcoins in their entirety for their alleged value and get money, now for them?
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Smart ones are selling their digits and buying physical assets like real estate or precious metals with the proceeds. Not so smart ones are "holding on for dear life" with sights set on Lamborghinis, mansions and private islands.
 
byke said:
1.) Uncheck.

2.) Already agreed, but that's newer value and not what created the value. Number one is what created the value. Don't forget its place in dentistry, btw.

3.) So your answer is because banks want it? Just peel back one layer and tell me why banks want it. Hint; because number one.
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1.) re-check. people desire it for what it is, bro. value.

2.) .

3.) not banks. central banks. aka the financial arm of the masters of the universe. and they want it because

a.) they know its five-thousand year role as money
b.) it's a hedge against the dying US$
c.) it's a hedge against inflation
d.) it helps promote stability and manage risk
e.) it shines in the face of uncertainty

once again - since the "financial crisis of 08", they have been gobbling up physical gold at clips not seen since the end of WWII.

u tel me y then.
 
redruM said:
1.) re-check. people desire it for what it is, bro. value.

2.) .

3.) not banks. central banks. aka the financial arm of the masters of the universe. and they want it because

a.) they know its five-thousand year role as money
b.) it's a hedge against the dying US$
c.) it's a hedge against inflation
d.) it helps promote stability and manage risk
e.) it shines in the face of uncertainty

once again - since the "financial crisis of 08", they have been gobbling up physical gold at clips not seen since the end of WWII.

u tel me y then.
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Maybe this is semantics..? Just as worthless is the same as just as valuable and number one is no difference between gold and bitcoin. My opinion is they both hold no 'real' value beyond perceived value. Call them valuable or call them worthless, doesn't matter to me, but they're the same in shiny principle.

Look, you can't use what people do to support your position unless you're willing to apply the same logic to bitcoin. If gold is valuable because people want it, even though it doesn't really do much, then at least see the parallel to bitcoin. Sure, gold shines in the face of uncertainty...but why? Because of centuries of conditioning! It has hundreds of years of perceived value, though it didn't actually do much. People thought it was shiny and neat, just like people think the same of bitcoin. Yes, it has some limited real world functionality, as does the technology surrounding bitcoin. The different between them is perception and conditioning, but neight of them really does a whole lot. Granted, if we were in rock fight, I'd rather have gold than blockhain, so yes it's technically better in that regard.

RightCoastBias said:
Conspiracy theories like whoa.
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I quite like his theories, just not sure why he refuses to apply them to gold.
 
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It has the signs of a bubble, but that doesn't mean it's garbage and must be avoided, as some suggest. It just means it's probably a high risk short-term investment that you need to keep an eye on. No big deal.
 
byke said:
It has the signs of a bubble, but that doesn't mean it's garbage and must be avoided, as some suggest. It just means it's probably a high risk short-term investment that you need to keep an eye on. No big deal.
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:laughing

In today's markets with the millisecond trades, "keeping an eye on" is often done in .5 second increments.

I've now made three Bitcoin trades, all in the money. None of them were longer than 15 minutes in duration.
 
Your first sentence applies to any ticker. As to the second, well done, you are qualified to play the game!
 
Yes I’m still unable to sell to my bank on coinbase. Keeps asking for further verification after I’ve already verified. Lots of people having this issue.

That said I’ve already moved my coins off their app and into Binance. And disconnected my bank from coinbase. I don’t trust them.

Sold half my LTC and bought XVG.
 
byke said:
Your first sentence applies to any ticker. As to the second, well done, you are qualified to play the game!
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Bitcoin is more volatile than just about anything else out there.

Pure luck. I put in small sums and made short term trades on volatility.
 
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