NYT Bitcoin plug teases - Everyone is getting Hilariously Rich, but you're not

a reply to: seasonal

Yah it's all relative right? Maybe the wealthiest people are those who are satisfied with what they currently have.

a reply to: SkeptiSchism

But counting digits in a computer as wealth is ludicrous.

Funny.

Bezos,Buffet,Gates,Zuckerberg wealth only exists in cyberspace.

What you called real wealth is minuscule by comparison.

No different than cypto currencies.

a reply to: worldstarcountry

Case in point, media is still on the Bitcoin teet. Nary a word of the other 1400+ coins.

a reply to: worldstarcountry

The most likely candidate will be Ripple, which ironically is tied to the Central Bank system now, isnt it?

My largest holding by coin,but I'm not so sure.

Plenty of other contenders.

originally posted by: SkeptiSchism
a reply to: JinMI

I don't own cryptos but I read a long time ago that the really wealthy people always book their profits in gold, platinum or some other tangible asset. That's why they manipulate the prices in the future's markets to keep the prices low so they can periodically book their profits.

I don't have anything against cryptos personally I think encrypted databases could be a boon to humanity but betting on their value now without some real functionality in the economy is shortsighted IMO.

I mean this with no snark or attitude at all. If you find this subject interesting, look up some information on how the tech works and what branches are being formed from it.

Here is a nibble. The value is made from keeping the network secured and decentralized. If you spend time/money/resources to do work, you should be compensated. Those are essentially the coins. Now abstract of that is what each one is worth. To that there are thousands of reasons but at least it's happening in an open market.

a reply to: SkeptiSchism

There are few cryptos that are in use coins. What has to happen is real research-and then being able to pull the trigger when the price is right.
For instance an alt coin, Ripple, is in use and is being tested. But many are not on board with Ripple cause it is not decentralized enough for them. This meme is perfect.

originally posted by: SkeptiSchism
a reply to: seasonal

Yah it's all relative right? Maybe the wealthiest people are those who are satisfied with what they currently have.

Yes, but being satisfied won't pay medical insurance payments.

originally posted by: neo96
a reply to: Mandroid7

Buffet back tracked too.

Said he didn't know anything bout it.

cointelegraph.com...

He didn't understand it. He buys into real tangible assets, things that are worth actual value for humans to actually touch, hold, and walk on. Bitcoin is just something made valuable because people made it valuable. It has no stability. It just goes to show the flaw in the fiat system tho, the tulips proved this many, many years ago and history is just repeating itself, only this time it's not confined to a small area, it's world wide.

I still remember when bitcoin was worth like 3 dollars a coin for silk road transactions, just imagine how rich some of the sketchiest people on earth are now days because they were buying guns, drugs and hookers on the dark web.

a reply to: strongfp

There's nothing real or tangible bout what Buffet does.

Stocks are not even paper certificates anymore.

a reply to: JinMI

Well I've been keeping an eye on it now since about 2012, but I haven't bought in. I understand that some companies are now offering their equity options in cryptocoins and I also heard that China may in fact be selling their petro-yuan futures in new asset backed coins.

But personally, I'm poor I have some silver coins and until someone comes up with a cryptocoin that is fungible with 1 ounce of a silver coin that I can redeem without paying exhorbinant fees I'm not interested.

However, I am trying to learn some new skill sets like 3dmodeling and I'm hoping that once I get good enough I can freelance and I expect my payments will be in some form of cryptocurrency since that's the direction it seems to be heading.

I have no fear of missing out, I look forward to being able to exchange my labor for something like a crypto but of course I won't do the work if I can't exchange it into something tangible like food, what's the point?

a reply to: strongfp

Tulips are not a very good analogy, you can grow more tulip bulbs, you can not grow more BitCoin.

a reply to: SkeptiSchism

Very valid arguments. I can say with certainty that all those arguments have technology in the works as we speak.

Even including freelance software work!

originally posted by: seasonal
a reply to: strongfp

Tulips are not a very good analogy, you can grow more tulip bulbs, you can not grow more BitCoin.

Forks.

a reply to: neo96

He has an investment in Coca Cola... how is that not tangible? People do more than just touch it, they literally eat the product. Bitcoin you can't touch it, you can't eat it.

See I see the technology applying to something that you produce. Lets say you write an article and then that article is linked to several websites. Then each time someone reads your article or it's linked somewhere else you generate some income from the article.

That's the benefit I see in encrypted databases. But exchanging my limited wealth now for coins that have no real tie to the economy doesn't interest me.

a reply to: SkeptiSchism

That's the benefit I see in encrypted databases. But exchanging my limited wealth now for coins that have no real tie to the economy doesn't interest me.

Someone has to in order to give that coin value.

originally posted by: seasonal
a reply to: strongfp

Tulips are not a very good analogy, you can grow more tulip bulbs, you can not grow more BitCoin.

You can also just magically take away bitcoin in a blink of an eye by destroying electrical infrastructure. At least tulips you can sustain...

a reply to: strongfp

I understand that, but are we talking about WW III?

And if we are, It matters not if I own 33 bitcoin or 100,000 shares of coke. And yes tulips would be just as worthless. With no electrical grid the only thing that matters is being flexible enough to kiss your own ass goobye.

a reply to: JinMI

Aye that's the rub.

a reply to: strongfp

He has an investment in Coca Cola... how is that not tangible?

Bershire Haythaway is a holding company.

Doesn't make anything.

Doesn't produce anything.

When he goes to buy his stakes he's borrowing money from BANKS.