2CHAINZ
Registered User
- Feb 27, 2008
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OT: Sens Lounge: "Pleeease won't you be.....my neighboµr"
- Thread starter Stylizer1
- Start date
BonHoonLayneCornell
Registered User
I love booty. I'm not prepared to commit to the slime without knowing the substance that's making it slimy. Diarrhea booty slime? Sweat slime? Post weekend camping ass slime? Diddy baby oil slime?
2CHAINZ
Registered User
- Feb 27, 2008
- 14,831
- 20,908
Qward
Because! That's why!
*Stops in to see whats happening. Sees Tnuoc is still letting use know his thoughts on everything even though no one asked.
See you next month.
See you next month.
2CHAINZ
Registered User
- Feb 27, 2008
- 14,831
- 20,908
Seed oils, liberals, something, something. I'm sure it will be the same next month.
Beech
Registered User
- Nov 25, 2020
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why is it you two can post this and get away with it?
if I did it, instant deletion and a message with a warning
f***, I cannot stop laughing
I understand the blockchain tech to some extent, but don't see the connection to how it makes bitcoin a good investment necessarily. I'm not saying you're wrong, I genuinely would like to know.
Beech
Registered User
- Nov 25, 2020
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if you are a male above 40, see your Doctor for a PSA test. It costs a few bucks, but a wise expenditure. Early detection is key
Ditto for the other side. A colon test is a life savour. Yea, it is primitive. You have to collect a stool sample and dab it on a holder and send it in. But again a life savour.
Trust me, the second floor of the General hospital Oncology department is not where you want to be. Not even for a visit.
Ditto for the other side. A colon test is a life savour. Yea, it is primitive. You have to collect a stool sample and dab it on a holder and send it in. But again a life savour.
Trust me, the second floor of the General hospital Oncology department is not where you want to be. Not even for a visit.
maclean
Registered User
- Jan 4, 2014
- 8,983
- 2,925
These are the days of miracle and wonder. I used to have Boy in the Bubble as my ring tone. The only problem was I didn't want to pick up. I was like, lemme just wait till the bass comes in... Then the vocals too...
His follow-up Rhythm of the Saints didn't hit as hard, but the track Obvious Child, that one gives me chills too, real lyrical and musical masterpiece.
Stylizer1
Teflon Don
FunkySeeFunkyDoo
Registered User
Yeah, I've never read the original bitcoin whitepaper that @2CHAINZ referenced, but I have read online tutorials on blockchain. I have a degree in Comp Eng, so I understand it pretty well.
But I will admit that I "don't understand bitcoin". In the sense that I don't understand why it has value, and in particular why it would go up (or down) in value at any time. If I buy stock in a company, purchase a bond, or even exchange money from one currency to another (say Cdn$ to US$) I understand what each of those things represents and why they have value and (mostly) why that value might change over time. IE, when that stuff might go down, I can understand why and therefore can decide on my own whether I think that will happen. With Bitcoin, I have no clue so can't possibly predict.
But... when I state that Bitcoin is higher risk than a broad based stock ETF, that is based purely on actual historical financial data. When professional investors consider any investment, be it an individual stock or ETF or managed fund, there are a handful of metrics that define it's "risk". One of them is its "drawdown" -- basically the amount it goes down from it's peak price to lowest price in a given timeframe.
In the last 40 years the S&P 500 has had 4 major drawdown events: the 1987 Black Monday crash (-30%), the 2001 dot com bubble burst (-45%), the 2008 financial crisis (-48%) and the 2020 Covid crash (-20%).
Just eyeballing the returns for Bitcoin, it has had 4 drawdowns of similar or larger magnitude in the last 7 years.
That is, major drawdowns happen in Bitcoin almost 6 times more often than the S&P 500.
Beech
Registered User
- Nov 25, 2020
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Joe Cocker, British Blues star.
If you get a chance, watch the Documentary Mad Dogs and Englishmen. The Mad Dogs are his primarily American bandmates. The band leader was Leon Russel. Known for wearing top hats.
The band popularized multi instrument use in live performances. On a quality sound system, their live stuff is great. Although Crocker's voice rarely held up. As the session extended, he would become inaudible.
Micklebot
Moderator
- Apr 27, 2010
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I just have a hard time understanding what I'm investing in if I put my money in Bitcoin,
Like, it's value is purely based on demand and scarcity, but it doesn't do anything beyond provide an "asset" you can eventually sell.
If I buy into a company, I'm investing in that companies growth, the company produces a good or service that adds value to society but Bitcoin seems to be positioned against Fiat currency but without any linkage to the economy. It's a resource intensive "money" without any regulatory guardrails,
None of that means you can't make money from it, but it seems like the economic equivalent of empty calories...
Generally speaking, I see a lot of societal bad that comes from the way stock market is run too, so this isn't me saying Crypto bad, stock market good,
FunkySeeFunkyDoo
Registered User
Yeah, I am making no comment on whether either of these things are "good" or "bad". That's a completely different conversation.
Beech
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- Nov 25, 2020
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not all that much different than other commodities.
Stamps can be in the millions.. useless, but it is a form of Widgets. A means by which money simply circulates.
Ditto for Art. Some paintings are in the millions
Sports cards, in the millions. The Honus Wagner card is at $7.25 million US dollars. A man who played ball 120 years ago. A stupid picture!!!! Of zero use to anyone.
These trade/investment methods are as old as old. A million and one such schemes pop up every year. A tiny portion survive.
A stamp from the 1800's will fetch you millions. Why?????? of zero use.
a 1953 Ferrari is in the millions.. You sure as heck are not going to drive it. In fact, if you own it, You have in some environmentally controlled room that no one enters and no one sees. A 1955 Mercedes Gullwing is in the millions. $175 million to be exact. You are definitely not using that baby to tow a trailer.
Nac Mac Feegle
wee & free
- Jun 10, 2011
- 35,401
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I figure bitcoin (and all digital currencies) are just the new generation of MLMs. Get in early and win, or be the losers stuck jumping on at the end and being the one that gets butchered.
If I were to invest, it would be in the energy sector. Humans will always need energy.
If I were to invest, it would be in the energy sector. Humans will always need energy.
Micklebot
Moderator
- Apr 27, 2010
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I mean, you get something tangible in all those cases, you can appreciate the art, or the car for whatever that is worth to you. You own a piece of history, as opposed to a decentralized sting of binary code.
Beyond that, those things mostly started off with a societal purpose, a stamp is proof of payment for mailing something, art aims to communicate sentiments, and elicit emotional responses, cars are built to be driven, these all were initially made for a purpose that adds to societal benefit, idk that Crypto currency does that at least not when you look at it relative to the resources required to produce it, despite some attempts to articulate use cases.
Crypto currency isn't a commodity, it isn't a collectable, it's not a pokemon where you've got to catch'em all, it's an alternative form of currency that is harder to use in real life, takes more resources to produce and use, and seems to lack any form of oversight, or tie in to anything tangible; at least fiat currency is tied to the gov't that issues it, and by that to that country's economy.
Beech
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I still see it the same. I get you. One is physical, the other is "poof" electrons buzzing around a silica substrate.
But realistically look at our society. It is one giant set of "nothing"
Your salary does not exist. It will come to exist as you get close to getting paid. Their is no vault that is housing your $x dollar yearly salary. And some company with 10,000 employees does not have 6000 million dollars sitting in a bank, needing to cover this years salaries.
Our pensions don't really exist. They are credit chips. Not backed by anything.
Our bank deposits don't really exist. they are credit chips. Again, not backed by anything all (Canada deposit does ensure them)
You may remember the 1930 run on banks. Banks had to shut down. People rushed to withdraw their money and broke the system. They wanted to withdraw money that did not really exist.
Heck, I have never touched a physical dollar from any job I have ever held. All I got was a stub.
And as of the last 10 years, I have rarely touched money. It is all numbers on computers.
If I was to orchestrate a run on banks in River Side South alone and get 1000 people to go to their banks and withdraw $1000 each. The banks in Ottawa would shut instantly. If I can convince them to withdraw $10,000. 1) they will be asked to come back in 3-4 days. 2) Shut down all banking in Ontario. And Trudeau, Forde and Sutcliff would be on the air trying to calm Canada adown.
Brady Tkachuk's 9 M salary for next year, does not exist.
Look at physical issues! Next Month's breakfast, lunch and supper do not exist. There is no Wearhouse housing 100 million eggs, 1000 million pieces of bread and so on.
yet based upon al these "poof"/magic, we exist function and move on.
In the end, the whole thing is nothing more than outsmarting others. Buy in at the right time, jump out at the right time.. and wait until the wave dies down. Those left holding the bag, are done.
FunkySeeFunkyDoo
Registered User
I don't think that physical vs digital is the distinction he is making. He is making the distinction between things that have value vs things that do not.
There are physical things that have value (including collectibles like art or stamps) and physical things that do not (eg the weeds growing in my garden).
And there are digital things that have value (eg the money sitting in my bank account) and digital things that do not (eg. most of the posts on HFBoards).
The twist in the digital realm is how easily things can be exact copied, which lessens the value of of them. Blockchain addresses this problem for digital currencies. But that in and of itself doesn't give Bitcoin value.
The bolded is why I'm staying away from it, couldn't articulate it better myself
Beech
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I understood. Neither is accurate.
Value is assigned. It is assigned to what we want. Regardless of being physical or not. It can also be spiritual. Your most precious thing is not your child. It his love for you and your love for him. A parent can live in one corner of the world and his child in another. Rarely see one another. Yet the emotional value is priceless.
value is meaningless as it applies to anything. My most valuable thing is the memory of my dead wife!!!
Bitcoin is gambling.. no different. You bet on black or red. Bitcoin is saying here is this game, Invest with us and play the numbers. Be clever and predict black or red accurately. Keep doubling down, etc.
That is all that it is.
there is simply game theory, number theory behind it. Ands as the world pushes billions of dollars into gambling, it is doing the same here. Zero value in gambling. Zero value in lotteries.
The difference is, in Bitcoin, you are obliged to double down. Unless you pullout. The next game does not reset, it functions on doubling down. So buy in higher and higher, making the next fail, a massive hit. And making the last fail, catastrophic.
understanding Bitcoin is understanding gambling.. It is why I am not surprised at the one who started this conversation @2CHAINZ ....
Bitcoin is gambling for the financial community. the way fanduel is gambling for the working class.
and your last paragraph..think how skewed gambling is. How low probability the lotto is.. yet we rush in.
he was talking about the rest of us. Not you
It's scarcely believable how much wrong you can cram into every one of your posts.
Let's take the example of your hypothetical bank run:
Yes, most banks carry a certain amount of physical cash at their location. That doesn't mean that you can't access all of the money you are keeping with your bank with enough notice. Want to withdraw $100,000, in cash, from your bank account? With enough notice you can. But they don't just keep the sum total of all deposits on hand, in cash, in the event that everyone wants to access their cash simultaneously.
The digitization of currency is one of the most important technological advancements of the 20th and 21st Centuries. The fact that you can access any, or all, of your money, from anywhere in the world, at any time is a f***ing miracle. Why would you even want all of your money in physical currency? Do you know how hard it is to do large transactions with cash?
The rest of your post is sheer and utter nonsense, with examples that don't make an ounce of sense. Why would a company with 10,000 employees need $6 Billion to sit in a physical vault so they can pay their employees for the year? Companies with 10,000+ employees are generating, at minimum, hundreds of millions of dollars per month in revenue. Also, $6B for 10,000 employees is a salary of $600,000 per employee, if you wanna talk about things that aren't real. A company paying that much in salary per year to that many employees is probably doing $2.5-$3 Billion in revenue, per month. So why would they need to keep all that physical currency set aside for 12 months to pay their employees with physical cash?
