AztecPadre Posted June 11, 2018 Report Share Posted June 11, 2018 Does anybody on here honestly know about how it all works? Asking for a friend I barely like. He read the Wiki on it and came out even more confused. Or so he says. Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted June 12, 2018 Report Share Posted June 12, 2018 28 minutes ago, AztecPadre said: Does anybody on here honestly know about how it all works? Asking for a friend I barely like. He read the Wiki on it and came out even more confused. Or so he says. Not me. Here is what I do know: 1. There seems to be serious technology issues which make these currencies susceptible to theft. 2. Unlike the currencies we are used to it does not have the backing of any central governmental authority. Now some have argued that this is good. But it has a big downside, namely, there is no real incentive for those that run these systems to not screw those that decide to deal in them. Governments, however reprehensible some of them may be, have an incentive to perpetuate their own existence. For this reason, the only theft that will occur with governmentally backed currencies is debasement via inflation. 3. I would think that governments will increasingly become enemies of crypto currencies if they gain greater traction. They may go as far as criminalizing their use. Having said all of the above, that does not mean that a small investment in crypto may not pay off. I would caution that if you do make such an investment, you keep it to no more than a couple percent of your liquid net worth. In short, money you can afford to lose without losing any sleep. Quote Link to comment Share on other sites More sharing options...
Mjd33 Posted June 12, 2018 Report Share Posted June 12, 2018 Bovada shipped me my 16K to my blockchain when Villanova won so it works 1 Quote Link to comment Share on other sites More sharing options...
Mjd33 Posted June 12, 2018 Report Share Posted June 12, 2018 1 hour ago, DarterBlue said: Not me. Here is what I do know: 1. There seems to be serious technology issues which make these currencies susceptible to theft. 2. Unlike the currencies we are used to it does not have the backing of any central governmental authority. Now some have argued that this is good. But it has a big downside, namely, there is no real incentive for those that run these systems to not screw those that decide to deal in them. Governments, however reprehensible some of them may be, have an incentive to perpetuate their own existence. For this reason, the only theft that will occur with governmentally backed currencies is debasement via inflation. 3. I would think that governments will increasingly become enemies of crypto currencies if they gain greater traction. They may go as far as criminalizing their use. Having said all of the above, that does not mean that a small investment in crypto may not pay off. I would caution that if you do make such an investment, you keep it to no more than a couple percent of your liquid net worth. In short, money you can afford to lose without losing any sleep. Good assessment. Im bullish on cryptocurrency being a standard way we can choose to pay for everything in the future just not sold It will be bitcoin, Ethereum. Quote Link to comment Share on other sites More sharing options...
Hardcore Troubador Posted June 12, 2018 Report Share Posted June 12, 2018 2 hours ago, AztecPadre said: Does anybody on here honestly know about how it all works? Asking for a friend I barely like. He read the Wiki on it and came out even more confused. Or so he says. I heard through the grapevine that PotCoin was worth checking out... Quote Link to comment Share on other sites More sharing options...
AztecPadre Posted June 12, 2018 Author Report Share Posted June 12, 2018 2 minutes ago, Hardcore Troubador said: I heard through the grapevine that PotCoin was worth checking out... Ha, the company that sponsored Rodmans trip to Singapore. 1 Quote Link to comment Share on other sites More sharing options...
Hardcore Troubador Posted June 12, 2018 Report Share Posted June 12, 2018 Just now, AztecPadre said: Ha, the company that sponsored Rodmans trip to Singapore. Aztec tell me you were watching the Chris Cuomo-Dennis Rodman interview on CNN just now? Quote Link to comment Share on other sites More sharing options...
LiberalDonaldTrump Posted June 12, 2018 Report Share Posted June 12, 2018 4 hours ago, AztecPadre said: Does anybody on here honestly know about how it all works? Asking for a friend I barely like. He read the Wiki on it and came out even more confused. Or so he says. My biggest question is what the hell is Bitcoin mining ⛏ like wtf can someone explain Quote Link to comment Share on other sites More sharing options...
maxchoboian Posted June 12, 2018 Report Share Posted June 12, 2018 12 hours ago, DarterBlue said: Not me. Here is what I do know: 1. There seems to be serious technology issues which make these currencies susceptible to theft. 2. Unlike the currencies we are used to it does not have the backing of any central governmental authority. Now some have argued that this is good. But it has a big downside, namely, there is no real incentive for those that run these systems to not screw those that decide to deal in them. Governments, however reprehensible some of them may be, have an incentive to perpetuate their own existence. For this reason, the only theft that will occur with governmentally backed currencies is debasement via inflation. 3. I would think that governments will increasingly become enemies of crypto currencies if they gain greater traction. They may go as far as criminalizing their use. Having said all of the above, that does not mean that a small investment in crypto may not pay off. I would caution that if you do make such an investment, you keep it to no more than a couple percent of your liquid net worth. In short, money you can afford to lose without losing any sleep. I find cryptocurrencies to be similar to beanie babies back in the 90's. Susceptible to theft? Yep Backing of central governments? Nope Too much traction, whereby governments viewed them as the enemy? Yep, I think I recall seeing soldiers using beanie babies for target practice I've got a Patti the Platypus and a Glory Bear that I can dust off from our kid's collections if anyone has some Litecoin they'd be willing to trade. I will even throw in one of my precious pet rocks. Uh huh, cryptocurrency is very similar to beanie babies. I'm convinced. 1 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted June 12, 2018 Report Share Posted June 12, 2018 2 minutes ago, maxchoboian said: I find cryptocurrencies to be similar to beanie babies back in the 90's. Susceptible to theft? Yep Backing of central governments? Nope Too much traction, whereby governments viewed them as the enemy? Yep, I think I recall seeing soldiers using beanie babies for target practice I've got a Patti the Platypus and a Glory Bear that I can dust off from our kid's collections if anyone has some Litecoin they'd be willing to trade. I will even throw in one of my precious pet rocks. Uh huh, cryptocurrency is very similar to beanie babies. I'm convinced. There could be a place for them. Yes, I know, they have little to no intrinsic value. But neither does our fiat currency, which only has value due to common acceptance, stemming from implicit trust in our governments (hard to think that even some of our far righters here have that, but they do or they would abandon the greenback). The acid test will be how do you eliminate fraud and theft from the space and will prices become more stable. Current volatility diminishes the value of using crypto for transactions unless they are illegal, unless you are willing to put on a hedge at the moment you enter into a contract that's settled in crypto. Quote Link to comment Share on other sites More sharing options...
maxchoboian Posted June 12, 2018 Report Share Posted June 12, 2018 8 minutes ago, DarterBlue said: There could be a place for them. Yes, I know, they have little to no intrinsic value. But neither does our fiat currency, which only has value due to common acceptance, stemming from implicit trust in our governments (hard to think that even some of our far righters here have that, but they do or they would abandon the greenback). The acid test will be how do you eliminate fraud and theft from the space and will prices become more stable. Current volatility diminishes the value of using crypto for transactions unless they are illegal, unless you are willing to put on a hedge at the moment you enter into a contract that's settled in crypto. ClaudeCoin Quote Link to comment Share on other sites More sharing options...
Cat_Scratch Posted June 12, 2018 Report Share Posted June 12, 2018 9 hours ago, LiberalDonaldTrump said: My biggest question is what the hell is Bitcoin mining ⛏ like wtf can someone explain I was asked to try and recover a password for a 700 bitcoin account for a wife who's husband died, I couldn't recover the password. The last I heard was that the account could not be recovered. Back then the bitcoin was worth 2,800.00 dollars. From what I understand the wife was unable to recover the bitcoins. In other words, they disappeared into the digital abyss. My advice, Buy gold instead... 1 Quote Link to comment Share on other sites More sharing options...
LiberalDonaldTrump Posted June 12, 2018 Report Share Posted June 12, 2018 45 minutes ago, Cat_Scratch said: I was asked to try and recover a password for a 700 bitcoin account for a wife who's husband died, I couldn't recover the password. The last I heard was that the account could not be recovered. Back then the bitcoin was worth 2,800.00 dollars. From what I understand the wife was unable to recover the bitcoins. In other words, they disappeared into the digital abyss. My advice, Buy gold instead... Thanks for the advice but my main investing money goes straight to tools , trucks, BoBcats, I’m trying to buy a Excavator.... my boss has so many vehicles and toys ...and that’s why he makes $4000 a day Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted June 12, 2018 Report Share Posted June 12, 2018 10 minutes ago, LiberalDonaldTrump said: Thanks for the advice but my main investing money goes straight to tools , trucks, BoBcats, I’m trying to buy a Excavator.... my boss has so many vehicles and toys ...and that’s why he makes $4000 a day For four thousand a day, I would gladly come out of retirement! Quote Link to comment Share on other sites More sharing options...
LiberalDonaldTrump Posted June 12, 2018 Report Share Posted June 12, 2018 47 minutes ago, DarterBlue said: For four thousand a day, I would gladly come out of retirement! He’s the General Conractor.... he makes $4000 a day 7 days a week on this 8 month construction contract Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted June 12, 2018 Report Share Posted June 12, 2018 16 minutes ago, LiberalDonaldTrump said: He’s the General Conractor.... he makes $4000 a day 7 days a week on this 8 month construction contract Dude be balling! Quote Link to comment Share on other sites More sharing options...
LiberalDonaldTrump Posted June 12, 2018 Report Share Posted June 12, 2018 4 minutes ago, DarterBlue said: Dude be balling! He actually invests a lot of his money into a certain cyrptocurrency in Zuric Switzerland but I don’t ask questions Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted June 12, 2018 Report Share Posted June 12, 2018 22 minutes ago, LiberalDonaldTrump said: He actually invests a lot of his money into a certain cyrptocurrency in Zuric Switzerland but I don’t ask questions I hope he ain't giving it away. You know, easy come, easy go. And I know that line of work ain't easy! Quote Link to comment Share on other sites More sharing options...
LiberalDonaldTrump Posted June 12, 2018 Report Share Posted June 12, 2018 1 hour ago, DarterBlue said: I hope he ain't giving it away. You know, easy come, easy go. And I know that line of work ain't easy! It’s easy as fuck his old ass just sits in his excavator and that it .. but his knowledge is what makes his money... then basic shit hell hire a couple laborers and sacrifice 300 out of his 4000 but don’t get me wrong he’d rather not work for 3 months then accept a job if he’s not making a Certain Profit Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted June 12, 2018 Report Share Posted June 12, 2018 1 hour ago, LiberalDonaldTrump said: It’s easy as fuck his old ass just sits in his excavator and that it .. but his knowledge is what makes his money... then basic shit hell hire a couple laborers and sacrifice 300 out of his 4000 but don’t get me wrong he’d rather not work for 3 months then accept a job if he’s not making a Certain Profit Sounds like he's smart. Maybe not the nicest guy to work for, but one you can learn from. Quote Link to comment Share on other sites More sharing options...
LiberalDonaldTrump Posted June 12, 2018 Report Share Posted June 12, 2018 10 minutes ago, DarterBlue said: Sounds like he's smart. Maybe not the nicest guy to work for, but one you can learn from. Lmao 😆 u nailed it.... The guy is Bonkers, .....absolutely nuts ........ I’m talking 8/10 on the Anger Management scale.... but shit he pays good,,,, I’m shooting for work 2 more years for him, save up get as much knowledge as possible and start my own Demo and Excavation company Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted June 12, 2018 Report Share Posted June 12, 2018 2 minutes ago, LiberalDonaldTrump said: Lmao 😆 u nailed it.... The guy is Bonkers, .....absolutely nuts ........ I’m talking 8/10 on the Anger Management scale.... but shit he pays good,,,, I’m shooting for work 2 more years for him, save up get as much knowledge as possible and start my own Demo and Excavation company If you can make that work you're probably better off than 80% of all wage earners out there including many white collar workers. It may not be the most glamorous job, but it can pay well if you are situated properly. Quote Link to comment Share on other sites More sharing options...
AztecPadre Posted June 13, 2018 Author Report Share Posted June 13, 2018 21 hours ago, Hardcore Troubador said: Aztec tell me you were watching the Chris Cuomo-Dennis Rodman interview on CNN just now? Nah brother, I missed it. But, that sounds like it would have been an entertaining one to hear. Donald Trump, Dennis Rodman and Kim are really meeting over nuclear weapons? Not sure if your a Seinfeld fan, but this is my bizzaro world. Quote Link to comment Share on other sites More sharing options...
AztecPadre Posted June 13, 2018 Author Report Share Posted June 13, 2018 19 hours ago, LiberalDonaldTrump said: My biggest question is what the hell is Bitcoin mining ⛏ like wtf can someone explain I know all about crypto currency. I was just asking for a friend and wanted to see what y'all thought it was. 1 Quote Link to comment Share on other sites More sharing options...
Hardcore Troubador Posted June 13, 2018 Report Share Posted June 13, 2018 30 minutes ago, AztecPadre said: Nah brother, I missed it. But, that sounds like it would have been an entertaining one to hear. Donald Trump, Dennis Rodman and Kim are really meeting over nuclear weapons? Not sure if your a Seinfeld fan, but this is my bizzaro world. YouTube it. It was surreal. Dude was high as a f’in kite, wearing a MAGA hat and a “PotCoin” t-shirt. He was crying on air while Chris Cuomo was interviewing him about how Jong-un is just a “big kid...but he’s little.” He thanked Chuck Daly, Phil Jackson, and Eddie Vedder (why?) for supporting him. It was nearly half an hour of insight into the beautiful, tragic, and existential mind of “The Worm.” Wife and I were alternately fascinated, horrified, and hysterically laughing. Again, Dennis MFin Rodman, in all his aforementioned glory as the new Foreign Affairs Analyst at CNN to discuss the summit of President Donald John Trump and Kim Jong-un. Bizarro World doesn’t even begin to cover it! Quote Link to comment Share on other sites More sharing options...
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