it works the same as it always used to. what he is sayin is categorically wrong. there is a physical product. it's spread across thousands of computers. thats the allure.

people have been trying to make new currencies forever. the ecoins are doing to the US dollar what the cotton gin did to slavery. and its working because they are secure... in fact, they are so secure that even the US government can't do anything about them, without turning off the internet.

_________________
the world will always the world. your entire existence is defined by your response.

Why?

_________________
Nas: Blago, who has single handedly destroyed CFMB?

Blago: https://youtube.com/shorts/Lftdxd-YXt8?feature=share


“We cannot turn away from this truth in this election, putting patriotism ahead of partisanship is not an aspiration —it is our duty.” -Liz Cheney

Even if they turn off the internet crypto companies are working on decentralizing the internet.

Then you don't truly understand what they are. It's like people saying back in the early 90's. I don't fuck with nerd technology.

i mean by shutting down ISP's, which is very easy for them to do. at that point we would have to use our wifi adapters and cellphones to connect to eachother, which would be a royal pain.

going to get interesting for sure. companies are mass adopting them. you can pay at many retails outlets with bitcoin now. retailers love it, because they only get taxed on that transaction once they turn it into $$. so just hold the e coins until you get a tax haven holiday or you have losses and need to zero out the books. done, no taxes paid on the gains.

_________________
the world will always the world. your entire existence is defined by your response.

Don't forget about NFT's. They are gaining steam with the entertainment industries and art galleries. Not a big believer in them. I try to stick to the DEFI coins.

Most people don't understand that Bitcoin is not functioning like it was originally designed and marketed. It stopped working as a peer to peer digital currency when its value skyrocketed. No one wants to use bitcoin for transactions because the value keeps increasing. The guy that paid 100 bitcoins for a pizza in 2010, spent $500.000 at todays current value.

Bitcoin split into two entities when the diehards created Bitcoin Cash coin to function as a peer to peer transaction and the new generation created Etherium block chain networks which is what DEFI, NFT's are based off of. Original Bitcoin became "liquid gold" because the supply and demand was more profitable then investing in gold or the US dollar.

I'm currently swing trading alt coins on coinbase pro during this bull run and then putting the money into Etherium when it is near the end. Been getting 15% returns or higher on each trade.

Visa is already working with a company to cross over into DEFI. Just a matter of time before they say, "if you can't beat them, join them." Too much money to be made to crush DEFI. The more the mega corporations invest in Bitcoin the less likely it is to fail. They would be out billions of dollars.

thats a smart strategy.

NFT's are just unique coins. they will have their purpose, especially in the DRM world, but other than that, theyre just going to bolster what is going on with blockchain in the finance world. it wont be for awhile, but at some point you have to imagine one of these coins will be used more often for purchases than US dollars will. then it gets interesting to see if the US dollar can hold its value against a currency that the whole world uses.

_________________
the world will always the world. your entire existence is defined by your response.

the credit card companies will all be using these blockchains to run their core systems. it's just a more secure way to do what theyre doing.

theyre in trouble when the mass population starts using e-coins for most of their purchases. it completely bypasses the credit card companies. it could literally bankrupt them. everyone is worried about automation taking their truck driving jobs, and they don't even think about never having to deal with VISA again.

_________________
the world will always the world. your entire existence is defined by your response.

Just invested in some newly-listed cryptos. It's strange being able to drop $80 or $100 and winding up with billions of tokens. Here's hoping they take off...

Cardano did just that with the Ethiopia government. They no longer have to pay and travel to cash their paychecks in areas where they don't have any banks. This is game changing technology that will democratise social and financial services. Search for Digital Ethiopia 2025.

This is crazy. "Beeple sold an NFT for $69 million" It is literally just a digital photo

https://www.theverge.com/2021/3/11/22325054/beeple-christies-nft-sale-cost-everydays-69-million

What exchange did you use? Be careful of what you buy. <500MIL market caps can wipe you out if you are not watching the charts. >1billion is better if you are going to hold the coins for a couple months.

Same. Very likely to lose all your money, but at the same time its way better chance than a casino

_________________
the world will always the world. your entire existence is defined by your response.

That just reaffirms my belief that we would STILL be using cd's today if they came with a hologram and original artwork... Something that makes that purchase authentic. People want to believe what they bought is unique.

_________________
the world will always the world. your entire existence is defined by your response.

The US government could crush crypto in 5 minutes if they wanted. Ban all US companies from accepting non-approved payment methods. Crypto has very little value if you can't use it to buy or sell anything. Maybe you could transfer it out at a currency exchange like you can a Euro.

I don't think they will because it doesn't really make sense to limit it.

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

who uses crypto to pay for goods or services (other than as a larkish marketing gambit)? Overseas pharmacies and gambling and porn sites?

I've noticed fewer retailers accepting btc in the current bull run, probably b/c the inc volatility makes it less useful as a transaction currency. the more up to date sites have moved to stable coins; like the checkout process for the bobcat helium miner, which uses usdt/usdc. Helium miners, bobcat or otherwise, are going for 2x in secondary markets even for preorders. If you have a Helium miner in hand, 10x-20x is apparently not out of the question.

again, blockchain's the thing, not the arbitrary and capricious tokens built on blockchain currently in vogue. btc, eth, ada, sol, dot, bnb, rvp will come and go, blockchain's here to stay regardless of its tenants.

The value is built on the idea that it will one day replace, or at least compete, with country backed currencies. If those countries all come together to say "no" then what is the point of it? Even the idea of banks using it as a transfer mechanism goes away. It's basically just random people on the internet trading them with very little way to use it in a meaningful way.

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

they won't because they likely created it. one of the reasons chamath, musk and rauol pal are so heavily invested is because the coding screams gvt and they firmly believe that is who created it.

i own a small amount of various crypto in my wallet. not enough to change my life but enough to have some skin in the game.

I'm enamoured by NFTs similar to the way i was enamored with sports star autographs when i was a kid. This allows you to create scarcity with something digital you own.

3% of my retirement portfolio is stock driven and 1% of my portfolio is currency driven. the rest are all ETF's and Mutual Funds.

I have a fun money account that has grown pretty well over the course of the past 10 years. my problem is I like all the stocks and hate to ever sell.

why would you need to replace fiat currencies to, say, use blockchain for medical records, or real estate and personal property title tracking or use NFT's for season tickets and associate governance rights with those NFT's, or for supply chain tracking and management or retail loyalty reward tracking and allocation or digital ID's or data storage and sharing or IP/copyright tracking or digital voting or IoT monitoring and management....etc, etc, etc

btc or doge or xrp or whatever replacing fiat is a pipe dream, probably not gonna happen and is a minor, fringe use case for blockchain technology anyhow. using the blockchain to perform and track financial transactions (agnostic of the currency those transactions are carried out in)? Absolutely.

And even gold is like Tinkerbell's light. I mean, the only reason it has any value is because enough of us say it does. You can't eat it. It can't be converted to water. It's just like Bitcoin except it takes up more space.

_________________
Don't take it personally.

No. It's like understanding that you should have 100% of your social media stock in Facebook rather than putting 10% in College Club, 10% in Friendster, and 10% in MySpace.

I mean, if you want to daytrade shitcoins and ride a wave for a quick profit, knock yourself out. But Dogecoin is never going to be a widely adopted currency or a sensible place to store value.

_________________
Don't take it personally.

I'm going to guess that you have plenty of gold in your house. In fact, you probably couldn't have made that post without it.

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Right. And people decided that the killer app of crypto was as a store of value rather than as a replacement for your debit card. Roger Ver and @kimdotcom are still trying to make Bitcoin Cash happen. Maybe some day they will. I'm not holding my breath for that.

_________________
Don't take it personally.

It's a lot more likely that cryptocurrency will crush the U.S. government- and other governments- than vice versa.

_________________
Don't take it personally.

I have a tube of American Eagles. It's heavier than a Bitcoin wallet.

_________________
Don't take it personally.

If you truly believed that you would have 95% of your total wealth in crypto and then you would wait to have more money than most medium sized countries as it hits $10 million.

_________________
You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Do you think you will be using U.S. dollars when you're 80 years old?

_________________
Don't take it personally.

It's perfectly normal!