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Coinbase targets financially vulnerable young adults

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Re: Coinbase targets financially vulnerable young adults

#151

Post by Zenul_Abidin »

jankyxenon wrote: post #27
moron123 wrote: post #13

Coinbase may not be the best representative of crypto, but the philosophy and technology still has a lot of potential. All it takes is one more breakthrough. We saw it with AI. When the chatgpt of crypto comes around, it will sweep the world.

I don't really know what the LLM of cryptocurrency would mean. With AI the goalposts are very easy to understand. What is a better crypto? Are we waiting for, some novel computational model? If its use-cases, cryptocurrency is more than a decade old. You'd think that someone would have figured it out by now.

There is a reason why it's called crypto, because it's named after cryptography, it has no use for AI.

Re: Coinbase targets financially vulnerable young adults

#152

Post by dragontamer »

datadata wrote: post #146
dragontamer wrote: post #124

Earlier quoted context omitted.

> it is just a correlation Correlation of what, to what, and what's the R-value? Across what time frame? https://en.wikipedia.org/wiki/Correlation These words normally have _meaning_ ya know. They're not just things you toss out in a meaningless online discussion.

There are certainly time frames where change in global m2 money supply and change in bitcoin's price over say 12mo would have a positive R value. That isn't the point I am making. If the amount of money available goes up, then one would expect that the price of other things, all else held equal would also go up. It would be quite strange for bitcoin or any other commodity to behave differently consistently and over a…

> If the amount of money available goes up, then one would expect that the price of other things, all else held equal would also go up

And if the amount of money available goes down for 18 months... then what?

https://fred.stlouisfed.org/series/WM2NS

An "inflation hedge" goes up when inflation is up, and down when inflation is down. But in practice, BTC is closer to down when inflation is up, and up when inflation is down.

Re: Coinbase targets financially vulnerable young adults

#153

Post by gruez »

ethanbond wrote: post #150
gruez wrote: post #148

Earlier quoted context omitted.

He had a whole term to be a dictator. Why didn't he go full dictator last term? Or are you just saying in a hyperbolic way that that he'll do the same stuff he did last term?

I am literally stating what he literally stated. And I don't think the surprise win of 2016 with no GOP machinery backing him out of the gate is going to be a good analog to the preparations that are ongoing right now. He will have far, far more capable people around him, a sense of revenge, and nothing to lose. The correct answer to "Will you be a dictator?" when asked to a US presidential candidate, is "No." The fa…

> I am literally stating what he literally stated.

And if you look what he said in full context it doesn't seem that bad?

>"You are promising America tonight you would never abuse power as retribution against anybody?" Hannity asked.

>"Except for Day One," Trump said.

>When asked to clarify, Trump said he would use the presidency to close the border and increase oil drilling in the U.S.

>"That is not retribution," Hannity said.

>"I love this guy. He says, 'You're not going to be a dictator, are you?' I said, 'No, no, no. Other than Day One.' We're closing the border, and we're drilling, drilling, drilling. After that, I'm not a dictator," Trump said.

https://www.cbsnews.com/news/donald-trump-sean-hannity-dicta...

I agree that it's not a great thing to say as a presidential candidate, but it's tenuous to go from that to "he's going to go full dictator like Xi Jinping/Putin/Maduro/Orban".

Re: Coinbase targets financially vulnerable young adults

#154

Post by ethanbond »

gruez wrote: post #153
ethanbond wrote: post #150

Earlier quoted context omitted.

I am literally stating what he literally stated. And I don't think the surprise win of 2016 with no GOP machinery backing him out of the gate is going to be a good analog to the preparations that are ongoing right now. He will have far, far more capable people around him, a sense of revenge, and nothing to lose. The correct answer to "Will you be a dictator?" when asked to a US presidential candidate, is "No." The fa…

> I am literally stating what he literally stated. And if you look what he said in full context it doesn't seem that bad? >"You are promising America tonight you would never abuse power as retribution against anybody?" Hannity asked. >"Except for Day One," Trump said. >When asked to clarify, Trump said he would use the presidency to close the border and increase oil drilling in the U.S. >"That is not retribution," Ha…

I didn’t say he is going to (especially not successfully). I said two things:

1) he is clearly authoritarian (adjective) and

2) there are several answers other than self-control or lack of willpower/desire that could explain the fact he didn’t successfully “become a dictator” in his first term, and some of those components have changed dramatically between then and now

Re: Coinbase targets financially vulnerable young adults

#155

Post by roenxi »

pkkm wrote: post #145
roenxi wrote: post #106

Earlier quoted context omitted.

Providing a consistent-over-time and tamper-proof record of transfers. It is pretty obvious how that provides value; if you have a system that provides that and one that doesn't, we'd expect the first to be more valuable. We're also seeing the first asset in history which can't be reliably confiscated without the cooperation of its owner which is also worth a lot. Involuntary rules change mid-game by local authoritie…

To be honest, I'm still not sure what practical usage scenarios you have in mind. Is it protecting your money from terrible economic policies if you live in a country like Venezuela? Or are you envisioning a whole new financial sector, free from existing financial regulation? In the latter case, while I don't think that all government regulation is good, I don't see how transitioning to cryptocurrency would help you…

Say I have a friend in Hong Kong, Russia, the US or wherever. I can send them $10k in Monero. Whatever laws the local country may or may not have mean nothing - they can't detect the transfer and they can't stop it or roll it back even if they could detect it.

We don't know exactly what the value of being able to do that is, but it is not something that has ever been possible before and it is a concrete action that would help a friend. So it definitely has some value.

Re: Coinbase targets financially vulnerable young adults

#156

Post by datadata »

dragontamer wrote: post #152
datadata wrote: post #146

Earlier quoted context omitted.

There are certainly time frames where change in global m2 money supply and change in bitcoin's price over say 12mo would have a positive R value. That isn't the point I am making. If the amount of money available goes up, then one would expect that the price of other things, all else held equal would also go up. It would be quite strange for bitcoin or any other commodity to behave differently consistently and over a…

> If the amount of money available goes up, then one would expect that the price of other things, all else held equal would also go up And if the amount of money available goes down for 18 months... then what? https://fred.stlouisfed.org/series/WM2NS An "inflation hedge" goes up when inflation is up, and down when inflation is down. But in practice, BTC is closer to down when inflation is up, and up when inflation is…

It isn't a perfect inflation hedge, no one is claiming that. You are cherry picking a single interval where the correlation is negative. If you zoom out, you'll find that the correlation is mostly positive. Past correlation is also not predictive of future results.

Re: Coinbase targets financially vulnerable young adults

#158

Post by robertlagrant »

injeolmi_love wrote: post #147
robertlagrant wrote: post #139

Earlier quoted context omitted.

> Personally, the ability to always have access to my money, accept contracts internationally, and to be protected from a fickle financial system. Doesn't cash also fulfil these? I'd have thought bitcoin is more fickle than cash. > For other people I’ve seen a wide variety of things they consider valuable that I don’t care for. Trading, community, loans, art, gaming for examples. Sorry - is this crypto related? Or ju…

I don’t use Bitcoin because it’s too slow and expensive. Other people do find value in it. Carrying more than $10k in cash is dangerous, and likely to be seized during international travel. That’s a list of things people use crypto for. Obviously, if they preferred the non crypto version of those services, they would use them instead.

What I mean is I can do all this with my bank:

> the ability to always have access to my money, accept contracts internationally, and to be protected from a fickle financial system

What's the difference, that is valuable enough to explain the bitcoin price differences?

Re: Coinbase targets financially vulnerable young adults

#159

Post by infamouscow »

vore wrote: post #112
infamouscow wrote: post #41

Earlier quoted context omitted.

What executive orders has Trump signed that are racist or authoritarian? Please list the EO numbers and explain your rational of how you arrived there using the text in the EO, rather than some highfalutin opinion written by an activist. I keep hearing this, but nobody can seemingly answer such a simple question. I can only conclude they are blatant liars and propagandists.

You can always twist anything into enough knots to construe it as "blatant lies and propaganda" – clearly you've already made up your mind – so this is not an exercise worth doing for anyone.

It seems you've made up your mind without any evidence, but it's too embarrassing to admit you've been propagandized so you're making excuses and deflecting. Asking for a single bit of evidence isn't unreasonable.

For all that's been written about Trump, you'd think this should be easy to retrieve. I've personally looked and found nothing, but maybe my methodology was flawed which is why I asked.

If no evidence is provided, it's reasonable to conclude the claims are false.

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