Bitcoin and other Crypto...

[SasaS 3,149]

3 hours ago, Spy Bee said:

I'm not talking about inflection. I am talking about the amount of USD in circulation.

 

 

The value of your 100k is not determined by the amount of USD in circulation, but by inflation, i.e. what you can get for your 100k in goods and services after 12 months. 

[Spy Bee 3,535]

10 minutes ago, SasaS said:

The value of your 100k is not determined by the amount of USD in circulation, but by inflation, i.e. what you can get for your 100k in goods and services after 12 months. 

Right.

 

https://www.economicshelp.org/blog/634/economics/the-problem-with-printing-money/

[SasaS 3,149]

42 minutes ago, Spy Bee said:

Right.

 

https://www.economicshelp.org/blog/634/economics/the-problem-with-printing-money/

Yes, right. The value of something is in what you can get for it, not in how much of it is there.

[Boss 8,228]

18 hours ago, Gooch said:

Facebook already tried making a cryptocurrency and they got slapped down hard by regulators. It's probably why he's pivoted to the Metaverse narrative. There's no way any big company tries that again anytime soon.

Yeah, I was reading about that today in the Wall Street Journal (Diem - formerly Libra). They are selling it off to Silvergate Capital for $200,000,000. 

[Boss 8,228]

13 hours ago, cochyn said:

Joe Customer: Can I give you my real money for this er, 'bitcoin' stuff I keep hearing about?

JP Morgan: Oh sure, we'll take your money. (value of assets may go up or down etc..) 

 

Crypto IMO is a broken promise: it promised to be an egalitarian currency model, but in actuality has turned into a highly speculative 'asset' class that thrives in green investor markets and is used mainly to obfuscate illegal transactions. Not to mention it's staggering energy use.

 

So, not for me. What money I have to invest goes into things I enjoy: rare cars at the base of their depreciation curve and pre-vintage guitars. I buy 'em, I enjoy 'em and when I'm done, I'll sell them for more than I paid. If I don't manage that, well, I've enjoyed the ride and the memories they bring. But at the moment at least, I'm well up. 

 

Genuinely glad some of you have made a tidy wedge from crypto - well done. Hope it goes well for you all.

 

What vintage guitars have you got?

[cochyn 921]

4 hours ago, Boss said:

What vintage guitars have you got?

Pre-vintage..  

 

Nothing special, really - I go for good mid-range geets that play well and get overlooked by collectors (so don't get counterfeited). Currently some early-mid-'90's Samick-built Epiphones I picked up a while ago when they could be had for buttons (sub-£200). Looking at Washburn N4s at the moment. It's no retirement fund, but they play really well and have great tone. And they look nice hung up on the wall. 

 

Probably one for the 'Guitars' thread..

[Boss 8,228]

6 hours ago, cochyn said:

Pre-vintage..  

 

Nothing special, really - I go for good mid-range geets that play well and get overlooked by collectors (so don't get counterfeited). Currently some early-mid-'90's Samick-built Epiphones I picked up a while ago when they could be had for buttons (sub-£200). Looking at Washburn N4s at the moment. It's no retirement fund, but they play really well and have great tone. And they look nice hung up on the wall. 

 

Probably one for the 'Guitars' thread..

 

Have you ever played a 60's Epiphone? I remember playing a Sorrento and it was one of the best guitars I've ever played. The Kalamazoo made Epiphones are as good as any Gibson out there. The Squier's made in Japan in the early 80's are amazing guitars as well. 

[Colonel Bumcunt 763]

On 17/01/2022 at 12:22, Spy Bee said:

$ORN launches Orion Bridge in 2 weeks. There's not way the price won't at least double in the next month, it could 5x. Long term I think we'll see it as a $100 coin. It's currently $5.

 

$UNO and $LSS are good low market caps. When you're picking a $20m market cap, risk is higher, but so are rewards. $XHV has had many problems, but at $3 looks like a steal. I also think $JUP is at a very good buying price, but again, these are high risk-reward options. 

 

I am on a group with a bunch of lads that speculate. Then I use CT (Crypto Twitter) and all the links it provides for most of my research. Obviously Coingecko and Coinmarketcap will link you to whitepapers and the official websites etc.

 

[Colonel Bumcunt 763]

On 27/01/2022 at 13:40, Boss said:

Yeah, I was reading about that today in the Wall Street Journal (Diem - formerly Libra). They are selling it off to Silvergate Capital for $200,000,000. 

Yeah that's a big development.  To me, it seems to point to the US government about to release a stablecoin, which is what Diem was going to be. And this in turn impacted on Tether, hence the LUNA slide. 

[TD_LFC 661]

 

[Red Shift 491]

It’s him. I personally believe we have found Satoshi Nakamoto.

My reasoning? Nobody else is coming forward to challenge him except the family of the now deceased plaintiff claiming to be the other half of the team that created Bitcoin.

 

https://www.theguardian.com/technology/2021/dec/07/australian-man-craig-wright-wins-us-court-battle-for-bitcoin-fortune-worth-billions?CMP=Share_iOSApp_Other

[Red Shift 491]

WIREX have just released their own non-custodial multi currency wallet, with access to DeFi.

 

https://wirexapp.com/blog/post/wirex-app-vs-wirex-wallet-0501

[Colonel Bumcunt 763]

On 30/01/2022 at 22:36, Red Shift said:

It’s him. I personally believe we have found Satoshi Nakamoto.

My reasoning? Nobody else is coming forward to challenge him except the family of the now deceased plaintiff claiming to be the other half of the team that created Bitcoin.

 

https://www.theguardian.com/technology/2021/dec/07/australian-man-craig-wright-wins-us-court-battle-for-bitcoin-fortune-worth-billions?CMP=Share_iOSApp_Other

I think the fact he tries to claim ownership of the Bitcoin white paper and stop others from publishing it tells you that this person doesn't subscribe to the ethos behind Bitcoin and therefore didn't write it. 

[Red Shift 491]

7 minutes ago, Colonel Bumcunt said:

I think the fact he tries to claim ownership of the Bitcoin white paper and stop others from publishing it tells you that this person doesn't subscribe to the ethos behind Bitcoin and therefore didn't write it. 

I think it’s more the case that he has been forced to defend himself in this civil suite, and is having to reveal himself as inventor, and not co-inventor, as the plaintiff’s family are claiming. Interesting that it is they who are claiming that he is Satoshi, as well as the deceased ‘partner’

 

*Led by his brother Ira Kleiman, his family has claimed David Kleiman and Wright were close friends and co-created bitcoin through a partnership.

 

At the centre of the trial were 1.1m bitcoins, worth approximately $50bn based on Monday’s prices. These were among the first bitcoins to be created through mining and could only be owned by a person or entity involved with the digital currency from its beginning such as bitcoin’s creator, Satoshi Nakamoto.

[Red Shift 491]

Interesting piece on Bitcoin’s scaleability and another look at the identity of Nakamoto.

 

 

[Boss 8,228]

The day Satoshi gets unmasked will be a sad day. So much of the mythos is attached to this deified founder that released the whitepaper anonymously due to their cypherpunk ideals. It's the crypto equivalent of when KISS unmasked themselves.

[Red Shift 491]

9 hours ago, Boss said:

The day Satoshi gets unmasked will be a sad day. So much of the mythos is attached to this deified founder that released the whitepaper anonymously due to their cypherpunk ideals. It's the crypto equivalent of when KISS unmasked themselves.

I think we almost need to get to the bottom of it now. Satoshi’s idea is for a digital cash system & not an overpriced asset - and there’s no doubt that BTC has been hijacked. Fascinating discussion below on the ‘civil war’

 

 

[Red Shift 491]

3 hours ago, Red Shift said:

I think we almost need to get to the bottom of it now. Satoshi’s idea is for a digital cash system & not an overpriced asset - and there’s no doubt that BTC has been hijacked. Fascinating discussion below on the ‘civil war’

 

 

BTW That interview should be seen to the end. My mind has been blown. I will never look at BTC the same again. Roll on the lawsuites.

[Colonel Bumcunt 763]

20 hours ago, Red Shift said:

I think we almost need to get to the bottom of it now. Satoshi’s idea is for a digital cash system & not an overpriced asset - and there’s no doubt that BTC has been hijacked. Fascinating discussion below on the ‘civil war’

 

 

Hence Bitcoin Cash, and hence Litecoin, two forks that felt Bitcoin wasn't following through on the promise.  

 

I think Bitcoin is garbage and holding back the entire market which is full of game-changing ideas.  

 

The El Salvador thing has politicised Bitcoin to the point that markets are being manipulated to stop El Salvador's plan from working.  Traditional finance will fall apart if Bitcoin works for El Salvador and Michael Saylor is the king of the world. 

[Red Shift 491]

4 hours ago, Colonel Bumcunt said:

Hence Bitcoin Cash, and hence Litecoin, two forks that felt Bitcoin wasn't following through on the promise.  

 

I think Bitcoin is garbage and holding back the entire market which is full of game-changing ideas.  

 

The El Salvador thing has politicised Bitcoin to the point that markets are being manipulated to stop El Salvador's plan from working.  Traditional finance will fall apart if Bitcoin works for El Salvador and Michael Saylor is the king of the world. 

Both BTC and Ethereum are ultimately going to fail. The world’s poor need to make digital nano-payments. Impossible on those two platforms.

[Colonel Bumcunt 763]

13 hours ago, Red Shift said:

Both BTC and Ethereum are ultimately going to fail. The world’s poor need to make digital nano-payments. Impossible on those two platforms.

Not going to happen unless pushed centrally.  Be that government or Amazon/Facebook.  

[TD_LFC 661]

https://www.techradar.com/uk/news/cryptocurrency-platform-wormhole-hit-in-dollar320-million-hack

[Red Shift 491]

13 hours ago, Colonel Bumcunt said:

Not going to happen unless pushed centrally.  Be that government or Amazon/Facebook.  

Or BSV.

Satoshi, regardless of what the greater crypto community says, is not anti centralisation. 

[Red Shift 491]

8 hours ago, Red Shift said:

Or BSV.

Satoshi, regardless of what the greater crypto community says, is not anti centralisation. 

Interesting blog.

 

https://craigwright.net/blog/bitcoin-blockchain-tech/how-bitcoin-won-the-race/

[Colonel Bumcunt 763]

PS SpyBee, shit call on the $ORN mate.