BitCoin
Quote: darkozThen goodbye!
EDIT:. Discussion really should have ended when EB compared Bitcoin to Beanie Babies ten years ago
I didn't even know what Bitcoin was 10 years ago. It was just a few years ago that I even heard of it.
But it's not jumping the shark when someone is still comparing beanie babies to bitcoin, something highly sought out by “creepy, belligerent men”?Quote: billryanThe whole discussion jumped the shark when DO sought to compare bitcoin to Visa.
If it wasn't obvious that DO had little to no understanding of the situation before, this comparison alone ended the need for future exchanges.
Quote: darkozOkay you win.
Yet another 'duh' situation. So I take it this will never be a chapter in your book? snicker...
A few years ago?Quote: EvenBobI didn't even know what Bitcoin was 10 years ago. It was just a few years ago that I even heard of it.
Even if we assume it was on April 4th, 2013 at 9:26:47 PM that you first heard about it, that seems closer to 10 years ago, than a few years ago.
Quote: EvenBobYet another 'duh' situation. So I take it this will never be a chapter in your book? snicker...
Don't worry, I am snickering too.
Quote: AxelWolfA few years ago?
Even if we assume it was on April 4th, 2013 at 9:26:47 PM.
Like I said; just a few years ago. And look how much my opinion has changed since then. Why do you think banks want nothing to do with Bitcoin. I opened an account with Ally Bank a few weeks ago and I mentioned Bitcoin to the woman I was talking to on the phone and she was very blunt. "We do NOT recognize Bitcoin as a legitimate currency", she said. LOL
Quote: darkozDon't worry, I am snickering too.
Sounds like a medical condition, you should really have that looked at.
Quote: EvenBobSounds like a medical condition, you should really have that looked at.
Once again EB has lost his argument and has to resort to insulting comments
Quote: EvenBobLike I said; just a few years ago. And look how much my opinion has changed since then. Why do you think banks want nothing to do with Bitcoin. I opened an account with Ally Bank a few weeks ago and I mentioned Bitcoin to the woman I was talking to on the phone and she was very blunt. "We do NOT recognize Bitcoin as a legitimate currency", she said. LOL
That woman's past employment was probably at Fannie May
Quote: EvenBobLike I said; just a few years ago. And look how much my opinion has changed since then. Why do you think banks want nothing to do with Bitcoin. I opened an account with Ally Bank a few weeks ago and I mentioned Bitcoin to the woman I was talking to on the phone and she was very blunt. "We do NOT recognize Bitcoin as a legitimate currency", she said. LOL
I am calling BS on everything but the first two sentences. Based on a comment you made about a bank/opening a bank maybe a half year ago, and why on earth would anyone with such a low opinion about bitcoin ask that question unless you just get a kick out of wasting her time.
It doesn't have to be something they recognize as a legitimate currency to have money-like value. I can use it and trade it for dollars, that's all that matters to me.Quote: EvenBobLike I said; just a few years ago. And look how much my opinion has changed since then. Why do you think banks want nothing to do with Bitcoin. I opened an account with Ally Bank a few weeks ago and I mentioned Bitcoin to the woman I was talking to on the phone and she was very blunt. "We do NOT recognize Bitcoin as a legitimate currency", she said. LOL
Bitcoin is coming to hundreds of U.S. banks this year, says crypto custody firm NYDIG
https://www.cnbc.com/2021/05/05/bitcoin-is-coming-to-hundreds-of-us-banks-says-crypto-firm-nydig-.html
Elon Musk changes his tune on bitcoin mining
https://www.cnn.com/2021/05/25/investing/elon-musk-michael-saylor-bitcoin-miners/index.html
Quote: billryanLegislation was introduced in NY this week to ban the mining used to farm these things. It's a three-year ban while the environmental consequences are studied. It's the same formula that was used to keep fracking out of NY.
I'm not totally against that but they need to differentiate between amounts of energy used by different crypto currency.
For example Cardano is an alternate crypto coin designed to be environmentally friendly and has a very small energy footprint.
It would be egregious to simply pass a bill that bans all crypto Mining.
It would be like banning all air conditioning because some have bad power requirements
EDIT: Mark Cuban recently said gold mining is worse for the environment which makes this whole Bit Mining situation a "bit" hypocritical.
https://www.google.com/amp/s/www.businessinsider.com/tesla-bitcoin-payments-mark-cuban-environment-crypto-mavericks-cryptocurrencies-2021-5%3famp
And Mark Cuban fully supports Crypto. If I had to choose between financial advice from Mark Cuban, Bill Ryan or Evenbob, guess who I find more reliable?
Second fact. It is NOT analogous to owning stocks. Eliminate the word ‘stocks’ and replace it with ‘companies’ and the difference should be obvious to even the dullest amongst us. Companies sell a product and try and make a profit. BTC does not do that. That fact does NOT mean that owning a company will work out more profitably than owning BTC.
Quote: mcallister3200would anyone with such a low opinion about bitcoin ask that question unless you just get a kick out of wasting her time.
Because Ally Bank is one of the top online banks to use if you have a Bitcoin account. And I was asking her about it but apparently the company line is they will let you deal in Bitcoin but they don't look a Bitcoin is being legitimate currency. Go figure it out.
Quote: darkoz
And Mark Cuban fully supports Crypto. If I had to choose between financial advice from Mark Cuban, Bill Ryan or Evenbob, guess who I find more reliable?
One of the guys you used to live with on the subway who gave you financial advice?
Quote: EvenBobBecause Ally Bank is one of the top online banks to use if you have a Bitcoin account. And I was asking her about it but apparently the company line is they will let you deal in Bitcoin but they don't look a Bitcoin is being legitimate currency. Go figure it out.
That one is obvious.
The bank considers Bitcoin a legitimate currency but the dumbass lady you spoke to gave her own opinion.
That's why Ally Bank accepts Bitcoin.
The other possibility which I don't discount is that you simply heard what you wanted to hear and she really didn't give you an answer one way or the other
Quote: EvenBobOne of the guys you used to live with on the subway who gave you financial advice?
If you don't know who Mark Cuban is then you have been living in a cave by candlelight the last few years.
Quote: SOOPOOThat fact does NOT mean that owning a company will work out more profitably than owning BTC.
Sure it does. Bitcoin has nothing behind it, Bitcoin has nothing propping it up. It's a nothingburger that people are having fun with by pretending it's real money. What makes the U.S. dollar strong is not what's in Fort Knox, it's the combined wealth of the United States. It's why the German Reichmark failed so remarkably after World War 1. Germany was beaten, its infrastructure was gone, it was broke. Therefore its currency had nothing to back it up and it took a wheelbarrow full of cash to buy a loaf of bread. That's Bitcoin. Except people are pretending it has real value when it actually has none. I will say it again, it's just like Elvis Presley collector plates. They have value and it is set by the small number of people who collect them. It has a value within that group. They set the value or they take it away. That's why Elvis Presley collector plates would make a very poor form of currency. Just like Bitcoin.
Quote: EvenBobSure it does. Bitcoin has nothing behind it, Bitcoin has nothing propping it up. It's a nothingburger that people are having fun with by pretending it's real money. What makes the U.S. dollar strong is not what's in Fort Knox, it's the combined wealth of the United States. It's why the German Reichmark failed so remarkably after World War 1. Germany was beaten, its infrastructure was gone, it was broke. Therefore its currency had nothing to back it up and it took a wheelbarrow full of cash to buy a loaf of bread. That's Bitcoin. Except people are pretending it has real value when it actually has none. I will say it again, it's just like Elvis Presley collector plates. They have value and it is set by the small number of people who collect them. It has a value within that group. They set the value or they take it away. That's why Elvis Presley collector plates would make a very poor form of currency. Just like Bitcoin.
You know very well not one Elvis collector plate nor one Beanie Baby in the history of the universe ever went up in value from $1 to $64,000.
You literally are just making crap up as you go
Quote: EvenBobthe German Reichmark failed so remarkably after World War 1.
This after EB made so many arguments about how currency works and Bitcoin doesn't.
I'm certain there was an address for the main Reichmark office in Germany, lol.
Quote: darkozI'm not totally against that but they need to differentiate between amounts of energy used by different crypto currency.
For example Cardano is an alternate crypto coin designed to be environmentally friendly and has a very small energy footprint.
It would be egregious to simply pass a bill that bans all crypto Mining.
It would be like banning all air conditioning because some have bad power requirements
EDIT: Mark Cuban recently said gold mining is worse for the environment which makes this whole Bit Mining situation a "bit" hypocritical.
https://www.google.com/amp/s/www.businessinsider.com/tesla-bitcoin-payments-mark-cuban-environment-crypto-mavericks-cryptocurrencies-2021-5%3famp
And Mark Cuban fully supports Crypto. If I had to choose between financial advice from Mark Cuban, Bill Ryan or Evenbob, guess who I find more reliable?
Fair enough, although I have copied many Cubanisms into my business's. So what percent of Mr Cubans wealth do you think he has " invested" in these sort of things? I'd speculate it is well less than 5% of it, which brings me full circle back to my original argument that anyone who had 95% of their wealth in cyrptocurrency was being very foolish.
Quote: darkozYou know very well not one Elvis collector plate nor one Beanie Baby in the history of the universe ever went up in value from $1 to $64,000.
You keep repeating this like it has something to do with anything. It doesn't. $64,000 might as well be 64 million dollars, because there is nothing backing it up except air. If I gave you $64,000 in USD it's backed up by the US government. $64,000 worth of bitcoin is backed up by nothing, that's why it can lose half its value overnight. That's why you can go to any third world country in the world and they will take a US dollar. Because they know it will be worth a dollar next month and a year from now. Bitcoin can and probably will be worth half what it is today by next week, who knows. It's a speculation bubble, it's not real.
Even if Bitcoin's appreciation beats other investments (which is far from a given), it's got a host of other problems.
Quote: MichaelBluejayit's got a host of other problems.
I read some of your page. It has all those problems because there's no regulatory body in charge. It's the Wild West and itcan do whatever it wants, and does so everyday. If your page was written about a fictitious currency you would think it's a joke. But this is something people take very seriously and they don't see the flaws.
Quote: billryanFair enough, although I have copied many Cubanisms into my business's. So what percent of Mr Cubans wealth do you think he has " invested" in these sort of things? I'd speculate it is well less than 5% of it, which brings me full circle back to my original argument that anyone who had 95% of their wealth in cyrptocurrency was being very foolish.
So, Bill I agree it would be foolish to have 95% of your wealth in crypto currency.
I think you mean it's foolish to have anything less than 95%?
If Mark Cuban had let's say 10% in Crypto, he still would be nowhere near having 95 percent of his wealth in Crypto
He was already successful but fortunate timing of the internet bubble and his billboard/yahoo deal is why he’s a billionaire and that’s variance, without variance he’d likely be an everyday millionaire to deca-millionaire.
Quote: mcallister3200Cuban is a good example of moderate success being primarily hard work and decision making and wild success being primarily variance/randomness, sure that wild variance isn’t generally possible without the first part(luck favors well prepared). He shouldn’t be being brought up as some sort of financial guru, attaching his name to crypto means nothing whatsoever.
He was already successful but fortunate timing of the internet bubble and his billboard/yahoo deal is why he’s a billionaire and that’s variance, without variance he’d likely be an everyday millionaire to deca-millionaire.
Mr. Cuban was fortunate in that the timing of the sales of his early ventures accelerated his becoming a billionaire but I think what he has done since then shows he wasn't just lucky. It's funny but I started out hating Cuban and Elon Musk. I thought they were two people who caught lightning in a bottle and were not very different from somebody who wins a billion-dollar lottery, but the more I heard and read about them, I realized just how wrong I was.
Quote: mcallister3200Cuban is a good example of moderate success being primarily hard work and decision making and wild success being primarily variance/randomness, sure that wild variance isn’t generally possible without the first part(luck favors well prepared). He shouldn’t be being brought up as some sort of financial guru, attaching his name to crypto means nothing whatsoever.
He was already successful but fortunate timing of the internet bubble and his billboard/yahoo deal is why he’s a billionaire and that’s variance, without variance he’d likely be an everyday millionaire to deca-millionaire.
Lol, everyday millionaire to deca-millionaire!
I would be so lucky and probably not believed if I claimed on here to be a millionaire (much less an everyday one)
Quote: darkozLol, everyday millionaire to deca-millionaire!
I would be so lucky and probably not believed if I claimed on here to be a millionaire (much less an everyday one)
The majority of people with a net worth of 1-3 million you would never know it. They are everywhere, every day millionaires. And they wouldn’t claim on here to be one there’s no need to tell anyone who doesn’t need to know about it. I am most certainly not saying they make a million everyday, it’s just compounding smaller decisions over time.
Quote: billryanIt's funny but I started out hating Cuban and Elon Musk. I thought they were two people who caught lightning in a bottle and were not very different from somebody who wins a billion-dollar lottery, .
Why would that make you hate someone?
Quote: mcallister3200The majority of people with a net worth of 1-3 million you would never know it. They are everywhere, every day millionaires. And they wouldn’t claim on here to be one there’s no need to tell anyone who doesn’t need to know about it. I am most certainly not saying they make a million everyday, it’s just compounding smaller decisions over time.
I agree, there are over 12 million households in the U.S. worth over $1 million.
Quote: mcallister3200Why would that make you hate someone?
I have no use for Mark Cuban, he's a royal douchebag. He thinks he's an expert on everything.
Quote: EvenBobI have no use for Mark Cuban, he's a royal douchebag. He thinks he's an expert on everything.
Didn’t you just learn who he was like two days ago in this thread? He’s definitely extremely egotistical. I thought that was you that knew everything?.
Quote: EvenBobI have no use for Mark Cuban, he's a royal douchebag. He thinks he's an expert on everything.
Anyone watching episodes of Shark Tank will realize how wrong that statement is.
Cuban is one of the sharks that will bow out of anything he doesn't understand almost immediately and explain that is the reason why
I detect the usual jealousy from you especially since it seems to be you who thinks he is an expert on everything from winning at roulette to the value of Beanie Babies
Quote: mcallister3200Why would that make you hate someone?
Hate was too strong a word. I disliked their Maxim inspired lifestyles and attitudes.
Cuban was a bit of an ahole for much of his 20s, imo. He was a frat boy on financial steroids. I wasn't a big believer in Paypal under Musk as they tried to be a bank without being a bank and would illegally take back money deposited in people's accounts. Then when Musk did what amounted to a hostile takeover of Tesla, I was very concerned.
Both have made believers of me.
Quote: billryanHate was too strong a word. I disliked their Maxim inspired lifestyles and attitudes.
Cuban was a bit of an ahole for much of his 20s, imo. He was a frat boy on financial steroids. I wasn't a big believer in Paypal under Musk as they tried to be a bank without being a bank and would illegally take back money deposited in people's accounts. Then when Musk did what amounted to a hostile takeover of Tesla, I was very concerned.
Both have made believers of me.
I'm guessing PayPal took money out of your account?
It wasn't illegal. No charges were pressed correct? You just feel it's illegal?
You are talking about buyer protection, I assume where if a buyer claims they didn't get the product PayPal protected them and returned the money?
I'm sure there were unscrupulous patrons who took advantage of that. It's inevitable but the point was to err on the side of the consumer.
I don't see a problem with that aspect (the buyer protection, that is, I don't support fraud)!
Quote: mcallister3200Didn’t you just learn who he was like two days ago in this thread?
20 years and two days ago, yeah. Cuban fully admits if he had not unloaded his loser dot-com company on Yahoo for billions of dollars he would not be who he is today, a rich douchebag. If his Jewish parents had not changed their name from Chabenisky to Cuban when they came here from Russia, his life probably would have been totally different. He would be in the upholstery business with his father more than likely. Where would John Wayne have gone if he had kept his original name of Marion Morrison. Names are important, they can make you or break you.
Quote: darkozAnyone watching episodes of Shark Tank
That's where I get my opinion about him from, where else would I see him. He's been on that show for 10 years and only invested 19 million dollars in contestants in all that time. For somebody who has billions, 19 million is not even a drop in the bucket. He's probably been paid that much for being on the show.
Quote: darkozI'm guessing PayPal took money out of your account?
PayPal is the reason I got out of selling on eBay. Right around 2007 or so every purchase had to be made with PayPal. I sold for 10 years on eBay and never even had a PayPal account. I only took money orders or personal checks and I made a lot of money. PayPal was totally out to screw over the seller. The slightest complaint from the buyer and PayPal would freeze your account, for months sometimes. They were totally unethical and unscrupulous and I stopped dealing with eBay just because of PayPal.
Quote: EvenBobThat's where I get my opinion about him from, where else would I see him. He's been on that show for 10 years and only invested 19 million dollars in contestants in all that time. For somebody who has billions, 19 million is not even a drop in the bucket. He's probably been paid that much for being on the show.
I've lost interest in the show but Cuban had made the most deals when I watching. He's also been on almost every episode so that makes sense. You see it as only investing 19 million, I see it him giving dozens of small businessmen the chance of a lifetime.
I'd imagine most people return his phone calls.
Quote: billryanYou see it as only investing 19 million, I see it him giving dozens of small businessmen the chance of a lifetime.
At little or no cost to himself, big deal. He's not really risking anything cuz they pay him a huge amount for just being on the show. Would he be doing this if there was no TV show? Highly doubtful. It's like John D Rockefeller giving away billions of dollars in today's money and building colleges and hospitals. Is it because he was such a great guy? He was a greedy old skinflint who only became a philanthropist because he was advised that if he didn't his family would be the most hated and despised family on Earth.
Quote: EvenBobAt little or no cost to himself, big deal. He's not really risking anything cuz they pay him a huge amount for just being on the show. Would he be doing this if there was no TV show? Highly doubtful. It's like John D Rockefeller giving away billions of dollars in today's money and building colleges and hospitals. Is it because he was such a great guy? He was a greedy old skinflint who only became a philanthropist because he was advised that if he didn't his family would be the most hated and despised family on Earth.
I'm so thankful I don't live on your world.
Cuban, or any of the sharks, brings so much to any business, most owners would pay him to join up with them.
Quote: billryanmost owners would pay him to join up with them.
The point is, do you really think Cuban or any of them would be doing this with these little know nothing nobody entrepreneurs if it wasn't for the show? Of course not, him of the rest of the Sharks have much better ways to spend their time. You make him out to be some kind of Robin Hood, he's just playing a part on a reality TV show. That's why he's investing such a tiny part of his huge fortune.
just a couple of thoughts directed at those who say Crypto will fade out into near nothingness
remember all the people, including IBM upper management at the beginning of it, who said PCs would never make it - that everyday people wouldn't want computers?
during the Tech stocks crash in 2001 remember all those who said Tech stocks would never be big again?
Tech stocks came back and are once again gigantic
*
Quote: lilredrooster......................
just a couple of thoughts directed at those who say Crypto will fade out into near nothingness
remember all the people, including IBM upper management at the beginning of it, who said PCs would never make it - that everyday people wouldn't want computers?
during the Tech stocks crash in 2001 remember all those who said Tech stocks would never be big again?
Tech stocks came back and are once again gigantic
*
There is a world of difference between saying cyrpto will fade to nothing and saying bitcoin isn't a good investment at $60,000, or even $35,000
Quote: billryanThere is a world of difference between saying cyrpto will fade to nothing and saying bitcoin isn't a good investment at $60,000, or even $35,000
It's EB that has been saying it's going to fade to nothing.
