451–460 of 571 posts
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Bought any coffees (in person) with the crypto-currency of the week recently?
haha yeah I wasn't able to buy my coffee this morning with my gold bar so I threw it away. worthless metal amirite
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The creator was trying to make “electronic cash” that evaded central banking manipulation from what I can tell. Except there’s a fixed supply. There isn’t a fixed supply of value in the world.
That is correct, there are a lot of things as well as incomplete features in the first versions of bitcoin that were deprecated by the open source community, some of it while in ongoing communication with Satoshi Nakamoto. One of the strengths of this asset class is that it has no static limitations, while any improvements to its core concept must reach overwhelming consensus otherwise it debilitates the entire syste…
I've been dabbling in crypto since the lockdown (all red, but I've had fun) and this space is like the wild west early days of the internet, with even more scammers. We're past the heady ICO days but now, all the scams have moved to Uniswap. And I might be guilty of being elitist, but I rarely, if ever, see founders with A+ tier credentials (Ivy league education, FAANG/Investment banking/Mckinsey et al) starting cryp…
Unless you have have insider information or get incredibly lucky, day trading crypto is a near certain way to lose money.
I've been dabbling in crypto since the lockdown (all red, but I've had fun) and this space is like the wild west early days of the internet, with even more scammers. We're past the heady ICO days but now, all the scams have moved to Uniswap. And I might be guilty of being elitist, but I rarely, if ever, see founders with A+ tier credentials (Ivy league education, FAANG/Investment banking/Mckinsey et al) starting cryp…
How could you be in the red? the number of risk free arbitrage opportunities is frankly staggering. Everywhere you look: futures, options, defi, etc there are juicy arbs all over the place. For example, short term btc futures are often trading at 30% annualized basis over spot. By taking on zero risk (except for exchange risk), you can easily capture somewhere between a 20 and 30 percent annualized return. It's just…
I wouldn't discount exchange risk too much...
Someone please explain this to me: How is any cryptocurrency even considered an investment vehicle? I would classify myself as Boglehead and I believe in the fundamentals of investing in stocks because in all it's technicality (and given the buy-and-hold strategy), you are investing in a business by owning a part of it which naturally means that you will and do get the returns on it, both in terms of profits (dividen…
When you buy into a Crypto you're investing into the technology itself. If you believe that more and more payments will be handled through it, its value will go up, thus making it a good investment. If you take Bitcoin, there's a small pool of total Bitcoin and that's guaranteed by the technology. Each new coin costs real money to mine, due to needing physical compute resource to do so, and it gets harder and harder…
I’m enjoying sitting on the sidelines and watching people “invest” in a digital “currency” that you cannot spend, does not produce cash flow, and whose values are determined by other shmucks buying it from previous shmucks. What a time to be alive. No wonder the S&P 500 CAPE ratio is beyond the 1929 high. No one has any idea of what the intrinsic value is of anything. Investing in companies that don’t make a profit,…
Right. Small businesses are just killing it these days.
My bank wouldn't allow me to buy cryptocurrency. Cryptocurrencies let you decide your future, they offer freedom. No banks, you decide where your money goes.
Been happily banking with my local credit union ever since. Try moving to a CU!
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Bitcoin is scarce; the consensus mechanism makes it prohibitively difficult to change the supply. It's barely even possible to do widely desired protocol upgrades; anything more is simply out of the question. The scarcity is far more secure than any fiat currency. I think it would actually be easier to increase the supply of gold via asteroid mining than to increase the Bitcoin supply. That doesn't require consensus…
> Bitcoin is scarce; the consensus mechanism makes it prohibitively difficult to change the supply. A single bitcoin is infinitely divisible, unlike most physical assets. How does that affect scarcity?
I’m enjoying sitting on the sidelines and watching people “invest” in a digital “currency” that you cannot spend, does not produce cash flow, and whose values are determined by other shmucks buying it from previous shmucks. What a time to be alive. No wonder the S&P 500 CAPE ratio is beyond the 1929 high. No one has any idea of what the intrinsic value is of anything. Investing in companies that don’t make a profit,…
I'm enjoying sitting on the sidelines and watching people "save" in a fiat "currency" whose value is not linked to anything intrinsic, whose supply can magically be increased at the discretion of a few powerful individuals, and whose value has been declining relative to almost any tradeable assets. What a time to be alive. No wonder the M2 money supply is at an all time high. No one has any idea of what the intrinsic…
Someone please explain this to me: How is any cryptocurrency even considered an investment vehicle? I would classify myself as Boglehead and I believe in the fundamentals of investing in stocks because in all it's technicality (and given the buy-and-hold strategy), you are investing in a business by owning a part of it which naturally means that you will and do get the returns on it, both in terms of profits (dividen…
A cryptocurrency cannot be put into any traditional bracket of commodity, currency, stock etc. It's a new breed in itself. It has features of a currency, a commodity, a stock and much more.
I have no idea where this thinking comes from that it's novel other than people are sold on the hype of the concept without thinking about the concept from a different angle.
If we did "Bitcoin by hand" and threw out increasingly large numbers, and whoever could figure out its factors would be awarded a ticket, and lets say there's only 100 million tickets, what would be the difference?
That it can't be counterfeited? That the central bank can't print more tickets? That's it? Wow, OK. You know, the counterfeiting issue isn't one that modern economies face in significant portion anymore. And if you wanted to prevent the printing of money, you could just ask your local representative to advocate for the US to go back to the gold standard.
Except it doesn't work anymore. So why would it work in software?