cryptocurrencies

lol

why did Elon stop accepting Bitcoins for his car sales ?

[wall st hedging small town coal fired electricity scalping time share pop-up hacker farm
crypto miners ? surely that's pure capitalism and perfectly ok what does that say about local political leaderships in those areas ?
are local officials being bribed? whats the real capitalist deal?]

would be nice if all crypto is directly tied to clean green energy
but thats a pipe dream like green energy GPS & telco satellites
or switching the worlds shipping to clean green fuel

doesn't matter what try hard wall st banker crack head you like the sound of
their bullshit corporate ass kissing ego talk doesn't change the hard facts


did the USA have a cry & complain & threaten him with anti money laundering audits on all his bank accounts ?

Maybe china realized Bitcoins are over priced for consumer use currently & need a smaller version which is secured to prevent large scale collapsing.

notice everyone is selling crypto now
not surprising
probably investment account managers moving funds back toward consumer goods & gold & into oil

Bitcoins big gains were probably money moved from oil & consumer products to crypto


rare earths is the big one

you cant buy into rare earths that no one owns or wont sell you

now we know why Donald trump said "maybe we can just buy Greenland"
as much as some people hate him
he is not stupid

now everyone is trying to date Greenland and marry its rare earths

and which idiots said all of india would be pro vaccines ?
lol
only about 20% will want a vaccine
thats a HUGE loss in projected profits

i think crypto will creep back a bit
but that will be working class speculators

big problem with working class speculators is there spending money directly controls the the national economy
unlike the super rich

if you wipe out working class savings with lost fake money that they then cant spend into the market, your a bit fucked
china probably realized this and asked Elon to dial back his crypto language until they can back consumer speculation into a manageable % of their national economic consumer spending
china is yet to recover from 2 things
1 the borrowing used to buy shares in their stock market bubble
2
the massive loss on global business over covid & the pre seeding global down turn in business(why have businesses been driving down growth?[probably because of poor low quality regulation allowing too many franchises and bottom end speculation wiping out start up capital now the entire system is standing in front of a hurdle it has not got the money to step over with])

but china are moving into south china sea
securing more space
building citys in their western borders
while usa argue over anti-vaxers rights & morals of the rich industrialists lol

usa wont be fast enough to create a retail crypto ahead of china
they lack the collective co-operation & lack regulation
but china cant afford it to be turned into a wall st play thing to hedge & collapse for profit
that takes regulation
regulation that the usa house & senate are simply incapable of creating & agreeing to because they are all out for their own cut of the take, & if they cant get a cut of the take, they just say no.
that's capitalism
you get power or money or nothing
its not a debate



poor ol Joe(he's not poor)

all the big money wants visionary's to show them where to invest
but a lot of the structure and people who form the system are locked into thinking that does not support diverse thinking models
they have invested interest in the system not changing
but the whole system must change

its a fascinating thing
 
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Today just now 8:30 pm 10 June Bali 2021 :)

Checked on how many types of Bitcoin

Would you believe 10,000?

And it's not a scam ????

:)
 
Can't remember the exact quote and I can't think of the missing word sorry

Heard cryptocurrency described as

"Cryptocurrency is not currency, it is speculative ___________ "

:(
 
Michael 345 said:
Today just now 8:30 pm 10 June Bali 2021 :)

Checked on how many types of Bitcoin

Would you believe 10,000?

And it's not a scam ????

:)
Click to expand...
It's not a scam but most of those 10,000 crypto currencies will soon be worth nothing. There is room for more than one however and blockchain technology is here to stay.
 
Seattle said:
It's not a scam but most of those 10,000 crypto currencies will soon be worth nothing. There is room for more than one however and blockchain technology is here to stay.
Click to expand...

What exactly is ANY crypto currency backed up with? Except as, my minute knowledge understands, it's rarity

:)
 
Michael 345 said:
What exactly is ANY crypto currency backed up with? Except as, my minute knowledge understands, it's rarity

:)
Click to expand...
That's not the point. Fiat currency isn't backed up by anything. Gold isn't backed up my anything other than gold (which has value only because we say it has value).

Bitcoin (for example) is limited. There will never be any more than 21 million Bitcoins. You can't even say that about gold.

It's a decentralized distributed network (unlike traditional banking). It's secure (basically military grade encryption) and the blockchain is permanent and can't realistically be reversed or tampered with. PayPal can reverse the payment you received if the buyer of an Ebay sale complains. Bitcoin is not reversible. Individuals become their own banks.

Governments devalue their currency by "printing" money. We worry about public debt having to be paid one day but really we are paying the penalty now since our currency is worth less and less (has less and less buying power).

That doesn't/can't happen to the Bitcoin that you own.

One big change that Bitcoin will make worldwide is to allow the many underbanked (or non-banked) individuals in many 3rd world countries to have control of their assets. If you have a job in a 3rd world country you can immediately convert your pay to Bitcoin and avoid the (potential) hyper-inflation in your country.

You can work in the U.S. and send funds back home to your family without dealing with government restrictions on foreign currency, large transaction fees, long holding periods, etc.

The blockchain itself allows for "smart" contracts and potentially many other applications that go beyond the finance field. Ethereum is what one thinks of for that at the moment.

I'm no expert but I've done some research/reading/investing and it is an interesting subject and potentially it is as disruptive as the internet or smart phones were.
 
...
Far out in the uncharted backwaters of the unfashionable end of the western spiral arm of the Galaxy lies a small unregarded yellow sun. Orbiting this at a distance of roughly ninety-two million miles is an utterly insignificant little blue green planet whose ape-descended life forms are so amazingly primitive that they still think digital watches are a pretty neat idea.

This planet has – or rather had – a problem, which was this: most of the people on it were unhappy for pretty much of the time. Many solutions were suggested for this problem, but most of these were largely concerned with the movements of small green pieces of paper, which is odd because on the whole it wasn’t the small green pieces of paper that were unhappy.

And so the problem remained; lots of the people were mean, and most of them were miserable, even the ones with digital watches.
...

p. 3, The Hitchhiker’s Guide to the Galaxy, Douglas Adams
http://www.protectedpaths.com/wp-content/uploads/Hitchhikersguidetothegalaxy.pdf

- - -

Every society is a space and its logic is that society's law.

In nature as a space, (SI) unit of work is the same as that of energy, that is, joule (J). One cannot see or touch a joule.

Units of measurement has definitions made (by ...) for a space/society.

The yard has definition. Any yardstick (thing) just represents a yard.

In a human society as a space, a unit of work/"energy"/power is money (let's take a dollar for example).
Coins, banknotes, ounces of metal, ... are currency (things), which are not different than chairs, cars (things), ... or
services (things) - everything is measured in standard units of work/"energy"/power for that society - money (dollar for example).

"Money" in one's bank account is currency (things).
Different types of "Bit coins" is money (units of measurement), but "bit coins" in one's e-wallet is currency (things).
Currency (things) is property/possession. It can be traded and lent.

- - -

" Creating "money" ":
under financial obligation (a contract):
the Debtor is obliged to work for the Creditor (the debtor feeds the creditor);
the amount of work is part (percentage) of Creditor's property, measured in money
and paid in currency.
/it needs a refinement/

- - -

How do Banks actually "create" "money"? Professor Richard Werner
 
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Beaconator said:
So it’s an exchange that doesn’t pay for its own equity
Click to expand...
Eh? Not entirely sure what you are trying to say.
Bitcoin is not an exchange: it is an asset, albeit an intangible one. Assets are exchanged for cash (or other acceptable asset of requisite value). Shares are assets and they, too, are exchanged similarly. In most jurisdictions, if you make a gain (receive more on sale than you originally paid for it) then you likely owe some tax (Capital Gains tax in the UK). But Bitcoin is not an exchange - it is the asset.

The exchanges are the likes of Coinbase, Bitfinex, Binance etc, who facilitate the exchanging of the cryptocurrencies (e.g. Bitcoin) between buyer and seller. They take a small cut of the deal, against which they offset their expenses, in the hope of making a profit. They will then pay tax on their annual profits, the same way any other company should.

I think your initial question is confusing the asset with a company that facilitates the buying / selling of that asset between parties.
 
Sarkus said:
Eh? Not entirely sure what you are trying to say.
Bitcoin is not an exchange: it is an asset, albeit an intangible one. Assets are exchanged for cash (or other acceptable asset of requisite value). Shares are assets and they, too, are exchanged similarly. In most jurisdictions, if you make a gain (receive more on sale than you originally paid for it) then you likely owe some tax (Capital Gains tax in the UK). But Bitcoin is not an exchange - it is the asset.

The exchanges are the likes of Coinbase, Bitfinex, Binance etc, who facilitate the exchanging of the cryptocurrencies (e.g. Bitcoin) between buyer and seller. They take a small cut of the deal, against which they offset their expenses, in the hope of making a profit. They will then pay tax on their annual profits, the same way any other company should.

I think your initial question is confusing the asset with a company that facilitates the buying / selling of that asset between parties.
Click to expand...
I'm not sure who you are addressing?
 
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