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5 years ago
Whoosh.
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5 years ago
^^ I guess this entire thread is like a dirty joke told to an 8 year-old; it went right over your head.
Say hello to Jerome Powell for me, will ya?
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5 years ago
Also, FYI, the final season of the HBO series Silicon Valley is about a company that launches a decentralized version of the internet. It seems decentralization is the hip new technology.
Isn’t there some digital currency that’s also decentralized? I forget, is it Mitcoin... or Itcoin... or FitCoin. Ah, who cares... it’s probably worthless.
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5 years ago
If anybody else wants it, it’s abcdefg. Just type that in on your keyboard and you’ll have all my money.
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5 years ago
Okay, just sent it to you.
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5 years ago
@Fun_Loving, I see no reason why you should be interested in learning about my preferred method. But, as it is quite inconsequential, I’ll tell you. I purchase bitcoins on one of the large exchanges (e.g. Kraken, Gemini, Coinbase, CEX.io, etc.). I transferred my purchased bitcoins to a cold storage bitcoin wallet, to which I am the only holder of the private keys.
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5 years ago
https://lmgtfy.com/?q=how+to+buy+bitcoin
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5 years ago
It's totally fine and understandable that Bitcoin is very misunderstood, and that its use case is still questionable. Many Bitcoin enthusiasts and Bitcoin developers say that, as of right now, Bitcoin is kinda like the Internet in the early 90's. Here's an early- to mid-90's flash back about the internet: https://www.youtube.com/watch?v=95-yZ-31j9A . Now, compare that video to this 60 minutes clip about Anderson Cooper trying to learn about Bitcoin: https://www.youtube.com/watch?v=Yz_k3GYZk-s . I'm guessing most of the guys on this forum were not internet pioneers, and you weren't sounding the alarm to your friends and family in 1990 that the internet would revolutionize society in the way that it clearly has by the year 2020. The smart guys figured it out, and jumped on it early, even in the dial-up days. "Dial-up was first offered commercially in 1992 by Pipex in the United Kingdom and Sprint in the United States." Here's when the biggest internet companies were founded: Amazon, July 1994; Netflix, August, 1997; Facebook, February, 2004; Paypal, December 1998; Google, September, 1998; Booking.com, 1996; Alibaba, April 1999.
The reality is this: 1) Bitcoin is here, it's an open-source network protocol just like internet, 2) Bitcoin and related technologies are being rapidly developed, 3) interest is growing exponentially around the world, so it's definitely not going away any time soon, 4) there's only so many Bitcoins to go around. Right now, 12.5 newly mined bitcoins are created every 10 minutes (1800 each day)... in a couple decades, that will be down to 20 or so new bitcoins each day. A couple decades after that, 1 or 2 new bitcoins each day.
IF Bitcoin is the future of money (admittedly, still a big "if"), and the entire financial industry competes over a few new bitcoins each day, how valuable will each bitcoin be? Let's take a look at gold (which isn't digital, it's a mineral humanity discovered millenia ago)... did you know that there are around 200,000 new ounces of gold mined EVERY DAY? One ounce of gold is about $1600 right now, despite the 199,999 other new ones that are created each day. How valuable would a bitcoin be if it became the preferred form of money for the entire planet, and every day there weren't 200,000 new ones, but just 1 or 2? I would venture to guess that it would be much more valuable than the current valuation of $8000. I would guess that it won't be merely 5% more valuable, or 50% more valuable, or 200% more valuable. I would guess more like... 200x more valuable.
So... if I buy just one bitcoin, then maybe, just maybe--if most Millenials and Gen Z, and whatever after that, decide they want to use bitcoins instead of dollars--my investment grows by 200x. If the technology dies and it's a failed experiment, then my investment goes to zero. So.... risk/reward, right? maybe it goes to zero.... or maybe everybody figures out what the Fed is doing, and they decide they want to use money that can't be debased, and my measly bitcoin becomes more valuable than is $1,000,000 in 2020.
You know what, you're right. The US stock market--at a current CAPE ratio equal to what it was at the height of the roaring 20's, right before the Great Depression--yea, way more potential upside in stocks, for sure. I'll just lay over and let the Fed debase my currency. What do I care? I don't want to be rich. I don't want extra wealth with which to spoil hot strippers. I just want to work for the man for the rest of my life............
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5 years ago
"I know your 'I wonder why they want it...' is rhetorical but I also wonder why anyone would want it."
- So basically you didn't understand the rhetoric. That's okay, I expect you will eventually.
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5 years ago
Haha, looks like somebody did some Googling.
When bitcoin is forked, the forked chain becomes incompatible with the original; that's why it's a fork. It's like, when one element decays through radioactive decay into another element, a process called transmutation--they become totally different things. Bitcoin has already forked a couple times, but guess what... their forked versions aren't the original. They don't have the network, the mining power, the security, the popularity, that Bitcoin has. The Winklevoss twins aren't making multi-million dollar collaborations to build new Bitcoin Cash (a fork of Bitcoin) mining farms in Texas. No, they're building BITCOIN mining farms in Texas. Metal has different versions too... there's gold, silver, platinum, palladium, nickel, copper, etc. But... there's only one gold.
Yea, I've heard of Tether. IMO it's complicated how exactly Tether is related to Bitcoin. All I know is, there is real demand for Bitcoin. Every 10 minutes, a new block is created, and every 10 minutes, 12.5 Bitcoins are created. Miners have to sell a lot of the Bitcoins they get for mining, so they sell it on exchanges. If people weren't buying them up then the price would drop like a rock. But... every day for the past 11 years, it's still here. I also know that Bitcoin is getting more and more popular all around the globe, not just here in the US. https://www.reddit.com/r/Bitcoin/comments/ejab8m/google_trends_bitcoin_search_term_top_65/ There's a loooooooooooot of people, all over the world, who want Bitcoin. From Africa, to Europe, to South America and Asia and Australia.
I wonder why they want it...
hahahahahahahahaha
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5 years ago
*FOMC
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5 years ago
Another use case, which interests most people (including me), is the store of, and increase in, the value of Bitcoin. Scarcity alone is not what makes gold, diamonds, silver, etc. so valuable. Hell, if scarcity alone could make something valuable then 4 leaf clovers might be worth a decent amount of money! No, it's not merely scarcity that makes gold so valuable.. what makes it valuable is the fact that it's scarce and DIFFICULT TO CREATE. It's really fucking hard to make a pristine 1 oz coin of 99.999% pure gold. On the other hand, it's not that difficult to grow some clovers in the ground.
How hard is it to make a 100 US dollar bill? It's pretty damn difficult to counterfeit, that's for sure. And it's even more difficult to fraudulently increase your bank account balance by 100 dollars. That is.... it's difficult for me. And for you. And for Joe Schmoe. How hard is it for the central banks? Didn't they just expand bank reserves by $400 billion? I wonder how hard it is for them to make 100 dollars. I mean... they only did it 4 billion times in the last 4 months. Hmmm... how many seconds in a month?
So let's make a comparison: 4 leaf clovers, 100 dollar bills, gold coins, and bitcoins. Which one is more difficult to create? Does the FMOC have any inherent advantage in mining bitcoins?
Guess we'll just have to wait and see....
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5 years ago
Yea, that's usually the first way people criticize Bitcoin.... "what about all the terrorists and child pornographers?" The fact is, more crime is committed with US dollars, which is harder to track. In fact, Bitcoin transactions are very easy to track! True, all of the transactions are encrypted, but if you can link a particular public key to a known individual then you can see all of the transactions that that individual made with that public key. This can be done with, for example, a free online tool called www.oxt.me. For example, there was a transaction made only about 8 hours ago that moved 1500 bitcoins (worth $12.2 million!). The chain of transactions can be visualized if you use the oxt.me tool. Check it out: https://oxt.me/graph/transaction/tiid/2614463953. You will see a blue dot. If you double-click on the blue dot then all of the transactions made pops out. Those transactions link to other transactions, which you can also double click. After several double-clicks you eventually get an enormous web of transactions, all of which are public and trackable! Zoom in, zoom out, it's actually kinda fun. You can literally track millions of dollars of value, and it's all public. Of course, there are no personal identification attached to these transactions... but if law enforcement can discovery your public key then it becomes very easy to track!
Compare that to paper bills. Col, hard cash. Much more difficult to track that shit. It's no wonder so many governments are trying to get rid of paper cash....
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5 years ago
^^ yes, but only for you. Whatever you do, Fun_loving... don't buy Bitcoin. Never ever ever :-)
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5 years ago
Sexual pleasure occurs in the brain... yours, not hers. If your brain is wired to squirt some dopamine when you mount and have your way with a 9/10 (900 milliHelens) smoking hot babe (which is subjectively determined by your brain) then that's just the way it is, that's how you get your dopamine kick. On the other hand, if your brain is wired to squirt some dopamine when someone sucks your dick in just the right way, and innervates all those penis nerves in such a way that you've never experienced... well then I guess she could be as ugly as an old fat bald man with bitch tits when you finally take the bag off her head.
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5 years ago
"Civilized to Death: The Price of Progress" by Christopher Ryan
Happy New Year.
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5 years ago
^^ balls were measured indoors (room temperature). The pressure of a football is a function of many factors which include ambient temperature and TIME. If the balls were measured during half-time, and one team's balls were measured first and the other team's balls were subsequently measured, then the second team's balls were allowed more time to equilibrate to room temperature.
All of this is explained by the video. The MIT professor is a professor at at prestigious university for a reason--he did his homework! He read the technical reports by the NFL and demonstrated that basic principles of physics were not accounted for (principles that even some high school students learn in their senior year).
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5 years ago
"Plus - I don't recall the other team's balls being affected by the weather."
- Was that sarcasm? Perhaps you should watch the video, he applies the same laws of physics to the Colts' ball. Ever studied the ideal gas law? It's not biased in favor of the Patriots! LMAO.
"Why did Brady...?"
- Even if you lack the imagination that would allow you to come up with an alternate explanation for his defense of privacy, then that still would not constitute evidence for the alleged act of deflating the ball to a pressure outside NFL regulations. It's called SKEPTICISM. If our courts held the same standard for evidence that you seem to hold then we would be putting millions of innocent people in jail.
"Why were you out in the middle of the night at the same time that the bank was robbed, and why did you delete your text messages from the same night? See, your honor? He obviously did it."
"Guilty!" - idiot judge (e.g. VH_Kicks)
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5 years ago
^^ did you watch the video? You know what the very best evidence is? Physical evidence. Physics doesn't just stop working because you want to believe somebody cheated. Refusing to divulge the contents of personal text messages does not a guilty person make. Perhaps you should reconsider the essence of "proof." I hope you never sit in a jury.
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5 years ago
14 yr-old genius horn-dog boy constructs a secret passage from his bedroom closet into an enormous underground sex dungeon / amusement park / private movie theater, where he keeps many many concubines for his pleasure. For some reason his parents never discover the secret passage.
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5 years ago
@VH_Kicks, regarding the whole deflate-gate stuff, did you know that an MIT physics professor actually worked out the physics of that whole deflated ball scandal? Turns out that air pressure actually responds to temperature... who knew? https://www.youtube.com/watch?v=wwxXsEltyas
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5 years ago
^^ foreclosure rates? This ain’t 2007.
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5 years ago
@Random, the same could have been said about the 10 yr yield in 2007; it hadn't changed "much" since 2002.
I think the main reason why it may be that "this time it's different" is because we're at a critical junction that will force a decision about the next major trend in interest rates. For the past 30 years or so, yields on treasuries have been in a descending channel, but now that rates are so low there's more uncertainty on whether or not the trend will continue. Previously, rates bounced back and forth between the descending channel, so if it was near the top edge of that channel then you could reasonably expect it to fall. But now, if we continue with that same trend, then yields will inevitably fall below 0. How long can interest rates be negative? And how negative can they get? The whole idea of a negative interest makes no sense, so it's questionable whether or not the trend will continue. On the flip side, a new upward trend could begin, like we had from the 60s to 1980. But those two options are EXTREMELY different economic conditions, and it's doubtful whether or not it's even possible to begin a new uptrend without financing the government's massive debt with helicopter money. It's like we're between a rock and a hard place, which probably explains why gold has been bought up so much recently.
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5 years ago
^^ haha... not that exactly, but you’re not that far off. I have so many Excel spreadsheets and analyses, a lot of them are not even for finance stuff. Most of them are, though. You guys should really pay attention to Bitcoin... it’s coming out of its winter phase and by the middle of 2020 it could really be making big moves, up to 20k, 30k, 40k... maybe 100k by 2022.
But, being the kind of guy who makes spreadsheets... I don’t get a lot of pussy, unfortunately. Instead, I make $8k on one Bitcoin trade and then make an appointment for pussy.
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5 years ago
^^ Total bullshit, you don’t know what you’re talking about.