Introducing Ethereum (Bitcoin but better...or worse...depends on who you ask)

Rocinante wrote:What do you buy cryptocurrency with?

Dressers from Wayfair

Fool me twice. ...won’t get fooled again.

I use Gemini

Might also get a Coinbase account going since they have more currencies

Binance is another large one

So it’s crypto all the way down?

That’s wild man.

What's with this Doge crypto? My 10 year old saw a picture and knew what Doge was... Assumed it wasn't real, but apparently???

It’s not but people buying it because tulips.

Somebody with all those rare beanie babies should see how many doge coins they’re worth.

Hey man, the rest of the crypto seems equally as goofy to most people. Minuswell have one named after a meme.

The doge coin was a joke and has gained some traction. It's still a joke, but it may perhaps be here to stay.

Imagine a world...like the movie idiocracy, where you pay for shit in doge coin.

[ig]CNkaBgSgii1[/ig]

I smell a lawsuit when these HODLers are left with useless code instead of actual money.

Rocinante wrote:I smell a lawsuit when these HODLers are left with useless code instead of actual money.

There's frivolous lawsuits every day over countless dumber things, who cares?

Rocinante wrote:I smell a lawsuit when these HODLers are left with useless code instead of actual money.

It’s FOMO. You’ll manage.

CORNER BLITZ wrote:

Rocinante wrote:I smell a lawsuit when these HODLers are left with useless code instead of actual money.

There's frivolous lawsuits every day over countless dumber things, who cares?

Getting paid with something that isn’t actually worth anything doesn’t sound frivolous to me.

Rocinante wrote:

CORNER BLITZ wrote:

There's frivolous lawsuits every day over countless dumber things, who cares?

Getting paid with something that isn’t actually worth anything doesn’t sound frivolous to me.

Tell that to the guy that bought two pizzas with Bitcoin back in 2011!

Rocinante wrote:I smell a lawsuit when these HODLers are left with useless code instead of actual money.

Does a lawsuit smell the same as paper USD? I love that smell.

That’s the smell of fecal matter, blood, and cocaine, Greenway

So yes. Same smell.

Coinbase is coming to the stock market on Wednesday

A big flop or a must need investment?

Rocinante wrote:That’s the smell of fecal matter, blood, and cocaine, Greenway

So, basically it smells like any Swiller weeknight.

Dendrobates wrote:Coinbase is coming to the stock market on Wednesday

A big flop or a must need investment?

I’d like to know what you think.

Dendrobates wrote:Coinbase is coming to the stock market on Wednesday  

A big flop or a must need investment?

I would lean more toward the latter.

Motown Spartan wrote:

Dendrobates wrote:Coinbase is coming to the stock market on Wednesday  

A big flop or a must need investment?

I would lean more toward the latter.

Terrible advice. You never lean on a latter. That’s a recipe for falling and getting hurt.

Rocinante wrote:

Dendrobates wrote:Coinbase is coming to the stock market on Wednesday

A big flop or a must need investment?

I’d like to know what you think.

Husband was thinking it's a must. He's been reading into it. But I don't know jack shit, and he's trying to learn stuff.

Dendrobates wrote:

Rocinante wrote:

I’d like to know what you think.

Husband was thinking it's a must. He's been reading into it. But I don't know jack shit, and he's trying to learn stuff.

You may know from my let’s say skeptical posting about crypto that I think it’s a fucking scam. But even if I didn’t, that ipo is way overvalued. It will skyrocket and crater in a matter of a week or two.

Now NFTs have some real promise. If for instance musicians, artists, other content creators can figure out a way to restrict use or copying of their content by attaching an NFT to some sort of licensing, that’s a world changer. Right now even if you own the NFT on something, it’s doesn’t really mean much. I imagine the possibilities are why people have bought like an NFT for a video of LeBron dunking. They think they can monetize it in the future. Not sure how we get there though.

Cryptocurrencies are here to stay. We are past the point of no return with them. And it doesn’t matter what Coinbase does at the open or over the following few weeks. They are on the leading edge and have excellent fundamentals so far.

Motown Spartan wrote:Cryptocurrencies are here to stay. We are past the point of no return with them. And it doesn’t matter what Coinbase does at the open or over the following few weeks. They are on the leading edge and have excellent fundamentals so far.

What does that even mean? It sounds like a thousand tweets I see every day.

Rocinante wrote:

Motown Spartan wrote:Cryptocurrencies are here to stay. We are past the point of no return with them. And it doesn’t matter what Coinbase does at the open or over the following few weeks. They are on the leading edge and have excellent fundamentals so far.

What does that even mean? It sounds like a thousand tweets I see every day.

It relation to cryptos, they’ve proven out to be an excellent store of value and even as a hedge against currency debasement.

In relation to Coinbase, history of earnings growth and excellent free cash flow.

What determines the value of a cryptocurrency? How is that value justified? What backs it up?

Please talk to me like I’m not a financial whiz.

Rocinante wrote:What determines the value of a cryptocurrency? How is that value justified? What backs it up?

Please talk to me like I’m not a financial whiz.

To put it very basically, it has value for two reasons.

One is that is accepted as a currency in the broad “market” of capitalism and a unit of exchange.

Two is that within that “market” there is demand for it. Cryptocurrencies, unlike centralized bank currencies, have a finite supply, meaning that they can’t just print more like the Federal Reserve does in the US (for example).

Anyone know if TTy ever convinced his public school teacher spouse to cash in her pension funds and invest her retirement money in virtual currency?

Motown Spartan wrote:

Rocinante wrote:What determines the value of a cryptocurrency? How is that value justified? What backs it up?

Please talk to me like I’m not a financial whiz.

To put it very basically, it has value for two reasons.

One is that is accepted as a currency in the broad “market” of capitalism and a unit of exchange.

Two is that within that “market” there is demand for it. Cryptocurrencies, unlike centralized bank currencies, have a finite supply, meaning that they can’t just print more like the Federal Reserve does in the US (for example).

So 1. Is because we agree it has value. And 2. Is because it has built in rarity.

So if we stop believing in it, it stops existing. But if some ultra rich guy like Elon buys a bunch of it, that certainly manipulates the perceived value right? So don’t the big holders kind of drive the “value?” And don’t they then become kind of the central bank? And doesn’t that go against all the high minded egalitarian rhetoric behind the idea of Bitcoin?

Rocinante wrote:

Motown Spartan wrote:

To put it very basically, it has value for two reasons.

One is that is accepted as a currency in the broad “market” of capitalism and a unit of exchange.

Two is that within that “market” there is demand for it. Cryptocurrencies, unlike centralized bank currencies, have a finite supply, meaning that they can’t just print more like the Federal Reserve does in the US (for example).

So 1. Is because we agree it has value. And 2. Is because it has built in rarity.

So if we stop believing in it, it stops existing. But if some ultra rich guy like Elon buys a bunch of it, that certainly manipulates the perceived value right? So don’t the big holders kind of drive the “value?” And don’t they then become kind of the central bank? And doesn’t that go against all the high minded egalitarian rhetoric behind the idea of Bitcoin?

Yeah sure I guess. Just like anything else has any value that isn’t commoditized. Like stocks or any other currency. Even those backed by the full faith and credit of the United States government. I don’t have a lot of faith in the US government, should I not use their currency?

Look, I get it. You don’t understand it and you missed the boat on it. Bitcoin is the one that people are sour about. It’s unlikely that anyone else is going to become wealthy buying Bitcoin now. If it goes to $1MM per coin, that’s only like 16 times more than it is now.  Unlike when it was worth fractions of fractions of pennies.  You missed the boat and you’re pissed. But some of the biggest corporations and financial firms and economists are all in agreement that crypto is very viable and is changing and has changed the idea of “currency” as we know it.

Not trying to be a smart ass. How is Bitcoin any different than a baseball card?

Kingston did you agree to share your login with Steve before he left? You sly dog.

LOL. No. I don’t get the quantum computing blockchain processes behind it all. All I know is it takes fiat currency to buy crypto and you cash your crypto out in fiat. Just like a baseball card.

Well for one I can bash you over the head with a tire iron and take your vintage Gehrig card.

kingstonlake wrote:LOL. No. I don’t get the quantum computing blockchain processes behind it all. All I know is it takes fiat currency to buy crypto and you cash your crypto out in fiat. Just like a baseball card.

Cryptos can be infinitely divided, unlike baseball cards. If you try to divide a baseball card, it will lose all of its value.

kingstonlake wrote:LOL. No. I don’t get the quantum computing blockchain processes behind it all. All I know is it takes fiat currency to buy crypto and you cash your crypto out in fiat. Just like a baseball card.

If that’s true, I understand crypto and the definition of fiat currency even less than I thought.