OT - Bitcoin
- Thread starter Gamecock Jacque
- Start date
That’s exactly what I did as well (threw $4,000 down a little while back). It’s ranged from $3,300 to $5,300 in that time.
I bought ETH because it was the one coin that I could grasp a real purpose for (with its relationship to NFTs). I will probably hold for a long time just because I see the future of NFTs being bright. (Not the stupid pics people buy, but the micro-financing and transactions that are possible.)
I bought ethereum too for many of the same reasons, I do have about 1500 in Bitcoin just bc it is the most “established”
Most gold is held at the Federal Reserve Bank in the US. Other places include the Bundesbank .
For those interested,I got this from a tech video I saw a while back.I was thinking about doing it as I work about half the month(all 12s).On the days I’m working,id be making money at home .It’s wouldn’t be much but it would be enough to upgrade my system.he even said buying one of those overpriced gpu’s for around $1500 ,he would make it back and practically get it for free.just put in your specks and calculate.
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My question is, you're saying after this projection time, you will be able to go to the place you gave $4,500 cash to, and get 30-35,000 "cash" handed to you??? When does money actually sit in your hand? The people I personally know seems to be involved in it, but there's never any way for them to "cash" out. Get green dollar bills in your hand.
🙂 I think we both know what that's about.
Total Debt-to-GDP and M1 Supply Charts over the past decade tell the story.
QE has made the "debt ceiling" now a bedtime tale. And if other countries aren't debasing their currency as fast as the US, then their economy will suffer from goods and services that are too expensive in the global market place.
It's the ultimate race to the bottom.
Mine is purchased through paypal, so all i have to do is sell it, pay the fee and the taxes and i can transfer it into my personal bank account. There are multiple platforms to buy from and link to your checking account. Just like with etrade or other stock sites, they are just set up with crypto currency. Paypal for me has been the easiest but it only has the big 2 or three cryptos. Etoro and a few other apps let you buy more altcoins along with Eth and bitcoin. But I like paypal bc it is pretty trustworthy.
Pie in the sky. Latest Fidelity report suggests ONE Bitcoin could hit $1 BILLION by 2038.
https://www.trustnodes.com/2021/09/01/one-bitcoin-may-be-worth-1-billion-says-fidelity
As institutional adoption will continue:
https://blockworks.co/fidelity-71-of-institutional-investors-plan-to-buy-crypto/
https://www.trustnodes.com/2021/09/01/one-bitcoin-may-be-worth-1-billion-says-fidelity
As institutional adoption will continue:
https://blockworks.co/fidelity-71-of-institutional-investors-plan-to-buy-crypto/
I know next to completely nothing about crypto, don't have time to get too involved, but my dad and his friends have been playing around with it for several years. With his help, I dropped some play money in March 2020 on BTC, ETH, amd ADA planning to just let it ride for a few years. I know that it's been up and down, but dad tells me I'm still good. Haven't looked at the balance, don't plan to for a while.
This is a man that can't figure out how to stream the EIU game on the ESPN app, but knows the ins and outs of buying, selling, and holding crypto.
This is a man that can't figure out how to stream the EIU game on the ESPN app, but knows the ins and outs of buying, selling, and holding crypto.
How can you possibly default on a debt, when you can print more money to pay said debt?
How do you default on a debt, when you can just print more money to pay the debt?
Our economy and its health is not dependent on our gold stock. Anyone who believes this doesn’t understand how our economy or currency works.
Not true. Our economy is not dependent on our gold stock. Whomever tried to sell you on this theory probably tried to sell Enron stock.
Not true. Our economy is not dependent on our gold stock. Whomever tried to sell you on this theory probably tried to sell Enron stock.
The price of gold has not moved much in decades. one of the worst stores of value ever. The US economy has performed much better.
It’s backed by the US economy and its assets. Not confidence in the government. We are the best performing economy in the world. That’s why the dollar’s value has stayed solid.
Exactly. Which is why I will trust the US currency over any imagined monetary substitute backed by nothing.
Have you never taken a world history or economics course in your life? History is littered with countries that tried to get out of debt by just printing money willy nilly. From Weimar Germany to Argentina. Within no time the only value their money had was as toilet paper. The US dollar has never been anything other than the most secure currency in the world.
People who cast doubt on the value of a dollar while boosting crypto currency that has less inherent value than Pet Rocks are like the anti-vaxers that say the Covid vaccines are too risky and untested while taking horse dewormer and shooting bleach into their lungs. Not only are they stooges and mindless sheep but they have zero sense of irony
It's limited by computers breaking codes and algorithms that limit the amount of coins there are. If you want something more concrete, it's backed by the energy used in storing it.
Do you watch the news or read Anything concerning the dollar? Evidently not, because based on your comments you are too busy believing everything you see on CNN. The USA Has created 20% more money from 15 billion to over 18 billion since 2020. That is called “printing money” in my book.Have you never taken a world history or economics course in your life? History is littered with countries that tried to get out of debt by just printing money willy nilly. From Weimar Germany to Argentina. Within no time the only value their money had was as toilet paper. The US dollar has never been anything other than the most secure currency in the world.
People who cast doubt on the value of a dollar while boosting crypto currency that has less inherent value than Pet Rocks are like the anti-vaxers that say the Covid vaccines are too risky and untested while taking horse dewormer and shooting bleach into their lungs. Not only are they stooges and mindless sheep but they have zero sense of irony
Data from the Fed shows that a broad measure of the stock of dollars, known as M2, rose from $15.34 trillion (£11.87 trillion) at the start of the year to $18.72 trillion in September.
The increase of $3.38 trillion equates to 18 per cent of the total supply of dollars. It means almost one in five dollars was created in 2020.
And actually these numbers are out of date. If you looks at current levels you can see it has only Gotten worse. Not to mention now we are about to raise the debt ceiling again because we can’t afford to pay the interest on what we owe.
United States Money Supply M0
Money Supply M0 in the United States increased to 5896900 USD Million in February from 5843700 USD Million in January of 2024. This page provides - United States Money Supply M0 - actual values, historical data, forecast, chart, statistics, economic calendar and news.
tradingeconomics.com
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The dollar lost 99% of it's value over a century and while the economy isn't of a fixed value the dollars in circulation isn't either. If the government over prints you get inflation. Our status as the reserve currency protects us largely because if other nations don't buy up dollars when we print them they have a stagflation effect where prices fall and the credit system slows down and the cake of labor rockets and the only people that benefit are retirees.
Fun fact, the Great Depression wasn't caused by a single panic on wall street, panics happen and they didn't cause depressions, they have caused very mild recessions prior to 1929. What actually caused it was the dollars in circulation were cut by 30% by the federal reserve over two years. The reason why banks didn't have money in the vaults when people came and the runs started were because people put one dollar in the bank that would be loaned out, became equal in value to 3 dollars before being paid back so the borrower didn't pay it in the back at the same time people are still taking out of saving. They apply for loans from the Fed and the Fed wouldn't give it to resolve the problem they started. Banks close, credit freezes, government goes on a spending spree frequently allocating it in ways which wouldn't be as valued by consumers while causing inflation which also causes economic turmoil. It's now popularly believed that FDR extended the Great Depression, regardless what your miseducated 10th grade history teacher in turn mis-taught you. If other economies don't buy up our dollars that happens to then on a much smaller scale.
This protects us largely from the consequences of bad fiscal policy because we never bare the full brunt of our bad decisions. A big reason why it's based partially on confidence in the government is that the rest of the world can deal with slight inflation but when they buy up those dollars for international trade they are relying on the idea we aren't going to cause hyperinflation that will drain value from their economy with every transaction. If we handle the pool of money poorly enough that they can't rely on that then enough other countries may pick an alternate currency which will leave a lot of US dollars which represent international trade rushing back in to the states which would suddenly spark it's own hyperinflation because the domestic economy will have all the dollars previously used in not only domestic commerce but also all which was used for international trade. Incidentally China was talking about trying to supplant the dollar as the reserve currency but they are even worse in managing the monetary supply them we are, the EU is pretty much as and as us in managing monetary supply and no other economies are big enough to have the weight to supplant us.
The characteristics of money used to rate its fitness are scarcity, durability, portability, fungibility, divisibility, and recognizability. If a good has a relative abundance of these characteristics, it will tend to be used in a monetary role.
Bitcoin is a decentralized digital currency backed by math (via mining.) Those who state that bitcoin isn’t backed by anything haven’t talked to any of the 10,000+ node operators who are consistently ensuring (in an open & decentralized manner) that the supply cap and issuance rate won’t be breached.
https://bitnodes.io
The Dollar has been backed solely by military/violence since Bretton-Woods in 1971. It is otherwise just a longstanding agreement between mutual parties (recognizability.) This worked fine until adminstrations/FED began manipulating like mad following the 2008 crisis.
Look at what's happened to the money supply. It's potentially the worse taxation in history and all but eliminated a middle-class which American desparately needs for stabilty.
The digital dollar is around the corner but it will have the same scarcity/manipulation characteristics.
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Have you never taken a world history or economics course in your life? History is littered with countries that tried to get out of debt by just printing money willy nilly. From Weimar Germany to Argentina. Within no time the only value their money had was as toilet paper. The US dollar has never been anything other than the most secure currency in the world.
People who cast doubt on the value of a dollar while boosting crypto currency that has less inherent value than Pet Rocks are like the anti-vaxers that say the Covid vaccines are too risky and untested while taking horse dewormer and shooting bleach into their lungs. Not only are they stooges and mindless sheep but they have zero sense of irony
For the love of God. This is what a 50 IQ looks like.
You're better than this. Read up. And not textbooks from the 1970s.
Have you never taken a world history or economics course in your life? History is littered with countries that tried to get out of debt by just printing money willy nilly. From Weimar Germany to Argentina. Within no time the only value their money had was as toilet paper. The US dollar has never been anything other than the most secure currency in the world.
People who cast doubt on the value of a dollar while boosting crypto currency that has less inherent value than Pet Rocks are like the anti-vaxers that say the Covid vaccines are too risky and untested while taking horse dewormer and shooting bleach into their lungs. Not only are they stooges and mindless sheep but they have zero sense of irony
Below is a partial list of aggressive investors in the US.
Europe and Asia far exceed.
What they are missing that you are on top of?
Investment Firms
Goldman Sachs
JP Morgan Chase
Citibank
Fidelity
Grayscale
Barclays
Morgan Stanley
ING
BNP
Corporations
NYSE
Nasdaq (including trading desk)
Telsa
Visa
Captial One
NY Life
MasterCard
CME Group
TransAmerica
USAA
Western Union
Deloitte
Standard Charter
American Express
Accenture
IBM
Verizon
Qualcomm
Square/Twitter
Investors
Elon Musk
Jack Dorsey
Tim Draper
Ray Dalio
Mark Cuban
Kevin Leary
Mike Novogratz
Jeff Bezos
Paul Tutor Jones
Michael Bloomberg
Jack Ma
Cathie Wood
Barry Silbert
Bill Gates
Mark Zuckerberg
Bill Miller
Eric Schmidt
Jim Cramer
Marc Andresson
Sam Zell
Universities / Endowments
Harvard
Stanford
Yale
MIT
Northwestern
Princeton
Brown
UPENN
Cornell
Johns Hopkins
Dartmouth
Michigan
When you say the digital dollar is around the corner isn't it already here in a way? When you make a wire transfer aren't you just transferring ones and zeros from one account to another? Aren't there already more ones and zeros than actual printed money in circulation?
That's a big discussion which involves many angles of the characteristics of money cited above: scarcity, durability, portability, fungibility, divisibility, and recognizability, etc.
In short, two key differences between the legacy system and blockchain/crypto are scarcity and decentralization. As mentioned in this thread, scarcity and money printing (QE) are at the center of the discussion. In 2008/2009, our government (FED) started printing money with unprecendented reckless abandon in an attempt to bail us out of the crisis lit by subprime mortgages.
If you haven't seen the movie "The Big Short" with Christian Bale, Steve Carrell and Brad Pitt - that's a really good one which spotlights the corruption. This was the basis of the birth of Bitcoin and Blockchain. Blockchain uses cryptography and mining (via math) to ensure that the most important characteristic of money (scarcity) remains intact. Similar to the printed dollar, the digital dollar will likely not have a peg or, at best, will be a stable coin pegged to global currencies which doesn't solve the scarcity and/or manipulation issues.
If you goto YouTube and seach for "What is Bitcoin," you'll have a much deeper explantation which covers more of the characteristics mentioned above. Hope this helps.
Thanks for the reply. My main question was the last one about there being more ones and zeros then actual printed money in circulation. I already got the characteristics of money part. Your forcing me to find the answer to my question for my lazy ass self lol. But that's for the better, make myself do the research lol. Thanks again.
