BitCoin
Quote: rainmanQuote: billryanQuote: AxelWolfIt is a currency, that's already been established.Quote: EvenBobQuote: billryanThe Big Boys have dumped over 300,000 bitcoin on the market in the last few months, and there just aren't buyers, thus the depressed prices.
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That's it in a nutshell. Bitcoin is not a , it's a product for sale. And when buyers of your product start disappearing you are in big trouble. When buyer confidence in a product disappears that product eventually goes away every time. You can prop it up for a while but it never works once the public confidence is gone. Bitcoin was never intended to be a currency it was always intended to be a get-rich-quick scheme disguised as a currency. It always had a shelf life with an expiration date and it lasted longer than I thought it would. But I had no idea the amount of great wealth that was behind it but even that can't last forever as we are seeing.
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There is evidence it had always intended to be a currency.
You have been completely wrong since your first negative post about BTC. As I said before, you are just salty that it was too difficult/complicated for you to obtain and use way back when. It's cost you a small fortune in upwards movement. And, if you are to have us believe you can beat roulette as you claim, you lost out on all that revenue it would've helped generate compounded by upward movement.
Keep trying to convince us and yourself you made a good decision based on your knowledge.
I know you certainly convinced us all you can beat roulette. NOT!!!
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Established by whom? Bitcoin is not a currency. It is a digital asset whose current use is more like a collectible than anything else. Some might call it a commodity, but it's practical uses are few and easily duplicated by any number of safer options.
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Definition-
A currency is a standardization of money in any form, in use or circulation as a medium of exchange.
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Exactly. What form does bitcoin have? Where is it in circulation?
https://seekingalpha.com/article/4563645-bitcoin-going-to-rally-again-what-need-to-know
The Central African Republic has become the second country in the world to adopt bitcoin as official currency, after El Salvador.Quote: billryanQuote: rainmanQuote: billryanQuote: AxelWolfIt is a currency, that's already been established.Quote: EvenBobQuote: billryanThe Big Boys have dumped over 300,000 bitcoin on the market in the last few months, and there just aren't buyers, thus the depressed prices.
link to original post
That's it in a nutshell. Bitcoin is not a , it's a product for sale. And when buyers of your product start disappearing you are in big trouble. When buyer confidence in a product disappears that product eventually goes away every time. You can prop it up for a while but it never works once the public confidence is gone. Bitcoin was never intended to be a currency it was always intended to be a get-rich-quick scheme disguised as a currency. It always had a shelf life with an expiration date and it lasted longer than I thought it would. But I had no idea the amount of great wealth that was behind it but even that can't last forever as we are seeing.
link to original post
There is evidence it had always intended to be a currency.
You have been completely wrong since your first negative post about BTC. As I said before, you are just salty that it was too difficult/complicated for you to obtain and use way back when. It's cost you a small fortune in upwards movement. And, if you are to have us believe you can beat roulette as you claim, you lost out on all that revenue it would've helped generate compounded by upward movement.
Keep trying to convince us and yourself you made a good decision based on your knowledge.
I know you certainly convinced us all you can beat roulette. NOT!!!
link to original post
Established by whom? Bitcoin is not a currency. It is a digital asset whose current use is more like a collectible than anything else. Some might call it a commodity, but it's practical uses are few and easily duplicated by any number of safer options.
link to original post
Definition-
A currency is a standardization of money in any form, in use or circulation as a medium of exchange.
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Exactly. What form does bitcoin have? Where is it in circulation?
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You can make arguments all you want how it's a bad currency or how second-rate those places are and even argue few use it or like it etc, but you claiming it's not a currency doesn't make you right. It IS a currency like it or not.
It's a commodity, a currency, a payment tool, and other things, including its very own category.
Quote: WizardQuote: DRichIf anyone wants to make an obscure bet, I will bet that the U.S. Dollar fails within 500 years. Almost every fiat currency created has failed. I don't see why the U.S. Dollar will be any different.
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I'll bet you $1 billion.
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You could spend more than that to get the definition of 'Fails'
Massive inflation could see the dollar replaced with the 'MegaDol*' but would that constitute failure.
> half of US States could see the dollar replaced by the gold chain link but would that constitute failure.
There's more than a passing chance of nuclear armageddon within those 500 years. Can't we bet on that instead?
But this is still a silly freeroll by Wizard. If the Dollar did fail and it was 'temporarily' withdrawn from circulation within Wizard's lifetime, would he cough up, or would he say "We resolve this bet in 2522: It may recover"? Or would wizard welch?
I'll tell you what guys..... You are going to need an escrow. I volunteer.
*MegaDol Copyright "The Bank Of OnceDear" 2022
Quote: AxelWolfThe Central African Republic has become the second country in the world to adopt bitcoin as official currency, after El Salvador.Quote: billryanQuote: rainmanQuote: billryanQuote: AxelWolfIt is a currency, that's already been established.Quote: EvenBobQuote: billryanThe Big Boys have dumped over 300,000 bitcoin on the market in the last few months, and there just aren't buyers, thus the depressed prices.
link to original post
That's it in a nutshell. Bitcoin is not a , it's a product for sale. And when buyers of your product start disappearing you are in big trouble. When buyer confidence in a product disappears that product eventually goes away every time. You can prop it up for a while but it never works once the public confidence is gone. Bitcoin was never intended to be a currency it was always intended to be a get-rich-quick scheme disguised as a currency. It always had a shelf life with an expiration date and it lasted longer than I thought it would. But I had no idea the amount of great wealth that was behind it but even that can't last forever as we are seeing.
link to original post
There is evidence it had always intended to be a currency.
You have been completely wrong since your first negative post about BTC. As I said before, you are just salty that it was too difficult/complicated for you to obtain and use way back when. It's cost you a small fortune in upwards movement. And, if you are to have us believe you can beat roulette as you claim, you lost out on all that revenue it would've helped generate compounded by upward movement.
Keep trying to convince us and yourself you made a good decision based on your knowledge.
I know you certainly convinced us all you can beat roulette. NOT!!!
link to original post
Established by whom? Bitcoin is not a currency. It is a digital asset whose current use is more like a collectible than anything else. Some might call it a commodity, but it's practical uses are few and easily duplicated by any number of safer options.
link to original post
Definition-
A currency is a standardization of money in any form, in use or circulation as a medium of exchange.
link to original post
Exactly. What form does bitcoin have? Where is it in circulation?
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You can make arguments all you want how it's a bad currency or how second-rate those places are and even argue few use it or like it etc, but you claiming it's not a currency doesn't make you right. It IS a currency like it or not.
It's a commodity, a currency, a payment tool, and other things, including its very own category.
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You can also use it with PayPal.
Comparisons to beanie babies or comic books as collectibles? Just ask how you can set up your PayPal to pay in beanie babies or comic books and you begin to see how ridiculous Bill and EB's argument is.
But they will gaslight you to death unfortunately. Next step for Bill when he looks bad is to start doing childish variations of the name. He will start calling it lemonlabitcoin or bibcoin or shitcoin and think he is wise and funny when he's just being childish and annoying. My four year old does that but he's four and hasn't learned how to win an argument yet.
t $Quote: WizardQuote: DRichThis is beginning to sound like too much trouble for our heirs to deal with. If both you and I are still alive then I will agree to pay you if I lose.
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I don't interpret any debts to fall on our descendants to deal with. Perhaps some advance in medical science or time machines will enable us to resolve the bet in 2522. If there is some dispute in the details, the courts in that year can deal with it. Do we have a bet?
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Sadly, my wife will not allow me allow me to bet $1 billion of our assets. If you would like to make the bet for $1000 she will allow it.
Quote: darkozYou can also use it with PayPal.
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No. You cannot!!
You can take a Fiat currency balance on paypal and convert it to a Bitcoin denominated balance and back again. But they do not facilitate any kind of bitcoin transaction between paypal users and do not allow you to spend or receive paypal, nor move them out to the real blockchain.
Paypal's implementation of Bitcoin, at least here, is the worst of all worlds. It ONLY facilitates exchange rate speculation.
Quote: paypal'You currently are not able to send Cryptocurrencies to family or friends, use Cryptocurrencies to pay for goods or services, transfer Cryptocurrencies from your Cryptocurrencies Hub to an external cryptocurrency wallet, or transfer Cryptocurrencies into your Cryptocurrencies Hub from an external cryptocurrency wallet.'
Think about that for a moment.
Quote: paypalNeither the Financial Conduct Authority nor the Commission de Surveillance du Secteur Financier regulate crypto. If something goes wrong related to crypto, you won't be able to use the Financial Ombudsman Service, the European Consumer Center, or any UK or Luxembourg financial services compensation scheme.
[
Quote: paypalWe may, in our sole discretion and without liability to you, not allow you to access the Cryptocurrencies Hub or may suspend or terminate your access to your Cryptocurrencies Hub, or place a limitation on the type or amount of activities in which you can engage using your Cryptocurrencies Hub
Oh. And they also charge fees and impose an exchange rate spread.
In my opinion, Paypal are doing nothing more than taking bets on the crypto price. And are despicably cynical in setting rules that only favour themselves.
Caveat emptor. If you don't hold the crypto key, you don't own crypto.
Out of curiosity, if someone had invested $100,000 in CYDY when DO started pumping it here, and another 100K in bitcoin when DO attacked me for calling it a scheme, what would that portfolio look like today?
By my estimates, you'd be down roughly $185,000, but that doesn't matter. The future is so bright, you'd best buy some sunglasses.
Grandma used to say a stopped clock is right twice a day, so DO is obviously due to get something right eventually. I, for one
, can't wait for his next surefire hit.
Often mistaken, but never in doubt. How's that working out for you?
Quote: OnceDearQuote: darkozYou can also use it with PayPal.
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No. You cannot!!
You can take a Fiat currency balance on paypal and convert it to a Bitcoin denominated balance and back again. But they do not facilitate any kind of bitcoin transaction between paypal users and do not allow you to spend or receive paypal, nor move them out to the real blockchain.
Paypal's implementation of Bitcoin, at least here, is the worst of all worlds. It ONLY facilitates exchange rate speculation.Quote: paypal'You currently are not able to send Cryptocurrencies to family or friends, use Cryptocurrencies to pay for goods or services, transfer Cryptocurrencies from your Cryptocurrencies Hub to an external cryptocurrency wallet, or transfer Cryptocurrencies into your Cryptocurrencies Hub from an external cryptocurrency wallet.'
Think about that for a moment.Quote: paypalNeither the Financial Conduct Authority nor the Commission de Surveillance du Secteur Financier regulate crypto. If something goes wrong related to crypto, you won't be able to use the Financial Ombudsman Service, the European Consumer Center, or any UK or Luxembourg financial services compensation scheme.
[Quote: paypalWe may, in our sole discretion and without liability to you, not allow you to access the Cryptocurrencies Hub or may suspend or terminate your access to your Cryptocurrencies Hub, or place a limitation on the type or amount of activities in which you can engage using your Cryptocurrencies Hub
Oh. And they also charge fees and impose an exchange rate spread.
In my opinion, Paypal are doing nothing more than taking bets on the crypto price. And are despicably cynical in setting rules that only favour themselves.
Caveat emptor. If you don't hold the crypto key, you don't own crypto.
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You obviously don't know how crypto works. You put your money in it, and it grows. and grows. And grows. Eventually, it hits 250K and you'll be able to laugh at all the people who warned you not to buy it. Ignore the trends, ignore the experts, and buy now. Buy a ticket on the world's biggest roller coaster, sit back and enjoy the ride. secure in the knowledge that two of the poorest, most corrupt regimes in the world fully support this and have your back.
Quote: billryanRegulations are so last century. Who needs them?
Out of curiosity, if someone had invested $100,000 in CYDY when DO started pumping it here, and another 100K in bitcoin when DO attacked me for calling it a scheme, what would that portfolio look like today?
By my estimates, you'd be down roughly $185,000, but that doesn't matter. The future is so bright, you'd best buy some sunglasses.
Grandma used to say a stopped clock is right twice a day, so DO is obviously due to get something right eventually. I, for one
, can't wait for his next surefire hit.
Often mistaken, but never in doubt. How's that working out for you?
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You don't understand investing enough to even bother answering in a realistic manner.
Investment isn't guaranteed to grow. Lots of stock are down.
You'r idea of determining if a stock is successful is to arbitrarily pick out the highest high and then bitch about the price when it's lower and start the clock from there.
That's why you ask inane questions like where would all the people who brought Bitcoin five years ago be today? Highly doubtful they would not be rich after selling it when it hit $60,000 but you completely ignore that in your retarded thesis.
That is why no one is listening to you. That is why your argument over and over ad nauseum is being thrown back at you by people who know more than you.
Even your comics investment isn't sound. You had $300,000 worth of CGC and sold it for $200,000?
Yeah you can't even sell comics properly.
Even your lies are humourous.
Quote: billryanMore unintentional comedy gold.
Even your lies are humourous.
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The reason why you felt unwelcome a few months ago and left is because you contribute nothing to this forum
All your posts are worthless vitriol along with EB who has about 30,000 worthless posts and one meaningful post (the one where he left).
Try adding instead of subtracting to this forum. Give a trip report, describe an AP move you did even if it most likely failed to profit.
Be a contributor instead of a subtractor.
For all the back and forth between MDawg and myself neither he nor I would claim the other hasn't at least contributed ACTUAL threads worth reading.
Your only purpose here is to criticize. You are the guy in the casino with no money in his pockets giving advice about losing to strangers who don't want it. Always telling people to quit while ahead while the other person is wagering meanwhile don't got a dime to wager themselves.
EDIT: And did Bill Ryan just call me a liar?
"Multi-purpose in a jar, if you ain't sick, it'll shine your car"
When you can't refute the message, attack the messenger.
Quote: darkozQuote: billryanMore unintentional comedy gold.
Even your lies are humourous.
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The reason why you felt unwelcome a few months ago and left is because you contribute nothing to this forum
All your posts are worthless vitriol along with EB who has about 30,000 worthless posts and one meaningful post (the one where he left).
Try adding instead of subtracting to this forum. Give a trip report, describe an AP move you did even if it most likely failed to profit.
Be a contributor instead of a subtractor.
For all the back and forth between MDawg and myself neither he nor I would claim the other hasn't at least contributed ACTUAL threads worth reading.
Your only purpose here is to criticize. You are the guy in the casino with no money in his pockets giving advice about losing to strangers who don't want it. Always telling people to quit while ahead while the other person is wagering meanwhile don't got a dime to wager themselves.
EDIT: And did Bill Ryan just call me a liar?
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I most certainly did. I'll say it again. Even your lies are funny.
rimshot
Quote: rxwineI don’t know about currency/bitcoin arguments but I’m enjoying the exchange.
rimshot
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If you enjoy it now, I suggest a double shot of lemonlabob. It makes everything better.
I wouldn't want to see either BillRyan or DarkOz suspended, so maybe you guys might consider a 12 hour lock, or something? Maybe shoot both a PM to tone it down just a little, I don't know.
Or, maybe we can just start over: Let's accept a few facts that should be seen as non-controverisal:
1.) Some people have virtually always decried that Bitcoin would go to zero, or during drops, would drop precipitously. As this very thread would illustrate, this goes all the way back to when the market value of Bitcoin was only in the triple digits.
2.) DarkOz, you should not categorically refer to BillRyan as a, "Bad Investor," when the biggest single stock you have publicly opined on favorably, CytoDyn, is a glorified pump and dump sham stock that is virtually in the toilet.
That said, everyone makes mistakes. I'm sure BillRyan has made massive mistakes in his time, but I'm also sure that he has made a great many investment decisions and the VAST, VAST, VAST majority of his decisions have had a sound basis in fundamentals.
OPINION:
Listen, I'm not in the game so much as I follow the game and I try to help people out when I see opportunities. Being both risk-averse, and a pessimist, I only see opportunities during huge recessions when markets severely overreact not fully appreciating the long term ebbs and flows of the market as a whole, at that point, I am able to pick out excellent opportunities in a few specific market segments---those being retail and hospitality, unless you consider casino its own segment as opposed to hospitality, then casino, hospitality and retail.
Hell, even Medallion Financial was a good pick, and I got way outside of my usual territory on that one. There are people who could verify I liked Medallion. My Medallion pick was also a bit speculative in that I felt, given Covid, some people would avoid large gatherings long-term...and there also wouldn't be a ton to do for awhile...so people would be purchasing recreational vehicles and playthings and some would need loans.
Anyway, the point that I am making is that the most important piece of advice that can be given, though it is coming from someone who doesn't have the wealth to back up the advice (even though my picks record kicks ass because I only cherry-pick in terrible broader market conditions) is that you have to know what you don't know. You have to listen. You have to learn.
That's why I make no prediction on Bitcoin. I recognize it has no fundamental value. I regard it as a confidence game. But, that said, I have no idea how to play confidence games when it comes to markets.
I'm refuting the nonsense he posts. Since he can't argue facts, he chooses to attack me. It's pathetic, but par for the course.
Quote: AxelWolfIt is a currency, that's already been established.
There is evidence it had always intended to be a currency.
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Bologny. You can also claim that the beads and eagle feathers the American Indians used to trade with each other was also currency. Meaningless. It was always a get-rich-quick scheme and that's what it will always be. That's why there are 12,000 current imitators, are they all currencies too? I'll bet they all claim to be.
Of course, with equal amounts on all the ones that I did like: If you place equal amounts on all and double up (or more if you're super greedy and more confident than I am in a full recovery) nine times and only bust out once, you're doing pretty well!
(Also, AHT did pop briefly, but it never doubled)
I love terrible markets; you can trust a terrible market.
Quote: billryando said that I sold 300,000 worth of CGC books for $200,000. Not only is it a complete lie, but it would show a total misunderstanding of the market if it was true. Only it isn't. I never said that and his saying I did is a lie. I can't say it any simpler.
I'm refuting the nonsense he posts. Since he can't argue facts, he chooses to attack me. It's pathetic, but par for the course.
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Quote: billryan
I sold 15 boxes of SA/BA books for 40K. I then SOLD 2 boxes of CGC SA books for $25,000. ANOTHER LOT for $35,000 and then sold the rest of my stock for $60,000. TOTAL SALES from the three units exceeded 200K.
Full Overstreet WOULD HAVE been WELL OVER $300,000 but would have been a lot of work. My time and effort is worth a lot these days, and getting rid of all that stuff is priceless.
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Capitalized emphasis mine.
https://wizardofvegas.com/forum/gambling/online/13594-bitcoin/278/
Quote: darkozQuote: billryando said that I sold 300,000 worth of CGC books for $200,000. Not only is it a complete lie, but it would show a total misunderstanding of the market if it was true. Only it isn't. I never said that and his saying I did is a lie. I can't say it any simpler.
I'm refuting the nonsense he posts. Since he can't argue facts, he chooses to attack me. It's pathetic, but par for the course.
link to original postQuote: billryan
I sold 15 boxes of SA/BA books for 40K. I then SOLD 2 boxes of CGC SA books for $25,000. ANOTHER LOT for $35,000 and then sold the rest of my stock for $60,000. TOTAL SALES from the three units exceeded 200K.
Full Overstreet WOULD HAVE been WELL OVER $300,000 but would have been a lot of work. My time and effort is worth a lot these days, and getting rid of all that stuff is priceless.
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Capitalized emphasis mine.
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I said I sold "Two boxes of CGC books for $25,000." Not $300,000 worth of CGC for $200,000.
Perhaps you don't understand how different the two statements on, but one is the true and one isn't.
Quote: billryanQuote: darkozQuote: billryando said that I sold 300,000 worth of CGC books for $200,000. Not only is it a complete lie, but it would show a total misunderstanding of the market if it was true. Only it isn't. I never said that and his saying I did is a lie. I can't say it any simpler.
I'm refuting the nonsense he posts. Since he can't argue facts, he chooses to attack me. It's pathetic, but par for the course.
link to original postQuote: billryan
I sold 15 boxes of SA/BA books for 40K. I then SOLD 2 boxes of CGC SA books for $25,000. ANOTHER LOT for $35,000 and then sold the rest of my stock for $60,000. TOTAL SALES from the three units exceeded 200K.
Full Overstreet WOULD HAVE been WELL OVER $300,000 but would have been a lot of work. My time and effort is worth a lot these days, and getting rid of all that stuff is priceless.
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Capitalized emphasis mine.
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I said I sold "Two boxes of CGC books for $25,000." Not $300,000 worth of CGC for $200,000.
Perhaps you don't understand how different the two statements on, but one is the true and one isn't.
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You said you sold 2 boxes of CGC for $25,000. "Another lot" for $35,000.... Total sales exceeded $200,000".
If you are saying you didn't mean they were all CGC I understand you don't have good writing skills to start another paragraph or delineate what your thoughts are properly
However regardless of whether they were ALL CGC, you still sold $300,000 worth of comics for an amount "exceeding $200,000"
In other words you undersold your comics by $100,000. That's the way to do business, right, Bill?
Why say that? Why attack me?Quote: billryanQuote: OnceDearCaveat emptor. If you don't hold the crypto key, you don't own crypto.
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You obviously don't know how crypto works. You put your money in it, and it grows. and grows. And grows. Eventually, it hits 250K and you'll be able to laugh at all the people who warned you not to buy it. Ignore the trends, ignore the experts, and buy now. Buy a ticket on the world's biggest roller coaster, sit back and enjoy the ride. secure in the knowledge that two of the poorest, most corrupt regimes in the world fully support this and have your back.
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I have USED BTC and I have made a modest profit with a buy and sell pair. I've also lost value by holding some.
But Yes. I know how crypto works. I know the case against it and I challenge the case for it.
In a world where it's not useful for buying pizza or much else, I intensely dislike the energy expended by the mining process. And don't get me started on the exchanges. I trust them as far as i can throw them.
As a hypothetical, let's remove all currency. No dollars, no rubles, no bitcoin, etc., In fact let's make all that currency illegal.
Who has wealth then? Bankers be lining up at food banks if they only have money.
Currency just represents everything you own. It's a symbol we allow to represent everything we could own but don't physically have to carry it around or keep it on our property.
Quote: OnceDearWhy say that? Why attack me?
It seems like Bill has been very argumentative since his return.
Quote: darkoz
However regardless of whether they were ALL CGC, you still sold $300,000 worth of comics for an amount "exceeding $200,000"
In other words you undersold your comics by $100,000. That's the way to do business, right, Bill?
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It is if you're selling wholesale or bulk, for example. There are plenty of reasons to sell goods under fair market value. Doesn't make it "bad business" in the slightest.
Quote: EvenBobBologny. You can also claim that the beads and eagle feathers the American Indians used to trade with each other was also currency.
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I mean, yeah.... LOL.... yeah, you can.
I love it when people accidentally stumble onto the correct answer.
Quote: TigerWuQuote: darkoz
However regardless of whether they were ALL CGC, you still sold $300,000 worth of comics for an amount "exceeding $200,000"
In other words you undersold your comics by $100,000. That's the way to do business, right, Bill?
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It is if you're selling wholesale or bulk, for example. There are plenty of reasons to sell goods under fair market value. Doesn't make it "bad business" in the slightest.Quote: EvenBobBologny. You can also claim that the beads and eagle feathers the American Indians used to trade with each other was also currency.
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I mean, yeah.... LOL.... yeah, you can.
I love it when people accidentally stumble onto the correct answer.
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Bill gave his reason for selling so low as it would have been a lot of work.
That's like me saying I lost $100,000 doing AP because it would have been too much work to win.
Quote: rxwinePer value of "currency".
As a hypothetical, let's remove all currency. No dollars, no rubles, no bitcoin, etc., In fact let's make all that currency illegal.
Who has wealth then? Bankers be lining up at food banks if they only have money.
Currency just represents everything you own. It's a symbol we allow to represent everything we could own but don't physically have to carry it around or keep it on our property.
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That's true, but the problem with BTC as a currency that accomplishes nothing but system destabilization is the fact that people are pulling something out of thin air, something that doesn't even physically exist and simply deciding it has value by virtue of their own declaration. Other than price and acceptance...which only happened because of price...what makes Bitcoin fundamentally better than any other cryptocurrency? If you guessed, "Nothing," then you're spot on.
Okay, so you mine Bitcoin using computer processing power. That's fine. However, if Bitcoin has no fundamental value, then that mining represents electricity that is being needlessly used, which represents fossil fuels, a finite resource, being needlessly expended.
I know that many people see a bright future in BTC, and some of them were right when you look back relative to years ago---some of them may be right when we look back onto today several years from now; I'm not saying they aren't, but my question is: What does Bitcoin do? Other than wealth for the savvy at playing confidence games: what does Bitcoin create?
Basically, people are declaring thin air to have value. Not only declaring thin air to have value, but actually arguing that the value of this thin air should increase, sometimes dramatically, over time.
Again, if you stretch that to its logical conclusion, then where you arrive is that anything can be created as a crypto and, if you can get enough people to participate in a world where we literally do not care if all currencies crash, because we have decided currencies not tied to a country are just as valuable, if not more so, than those that are...what are you left with? You have a bunch of people playing around with gimmicks that aren't worth anything and aren't tied to anything.
Right now, BTC is tied to whatever currency a person normally deals in and there's no getting around that. The only way it will ever be otherwise, that this thin air can ever be stable within itself, is for all essential business entities to accept BTC. Even then, they still have to pay taxes on their incomes in whatever non-thin air currency that the countries in which they are located use.
So, even if you could pay with BTC literally everywhere, it's still not going to be totally separable from Fiat currencies.
Some people claim Bitcoin, and presumably, other cryptos will replace Fiat currency, but riddle me this: Why is a replacement to Fiat currency necessary at this time? I think we can all go Star Trekkian and envision a world without currency several hundred years into the future, but I'm not going to be convinced that BTC is the first step towards that. While everyone is playing around with BTC as, potentially, THE currency of the world...many market players are busy cashing out BTC in exchange for actual currency that is greater than the amount they put into begin with.
Money for nothing. At best, money for taking a risk and being better at playing a confidence game than others are.
For everyone else, I think BTC is for those even more Nihilistic than I am.
I could have sent them off on consignment where in two or three years I'd have about 75% sold, and be out tens of thousands of dollars in consignment fees, or I can do as I did, moved them for more than I wanted in the first place with next to no effort.
I would think someone who has tens of thousands of dollars in pinball machines would understand that.
Quote: darkoz
Bill gave his reason for selling so low as it would have been a lot of work.
That's like me saying I lost $100,000 doing AP because it would have been too much work to win.
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So he didn't want to invest his labor into selling the comics individually or in smaller lots, so he sold everything for what he thought was a fair price to him personally. Again, not necessarily a bad business decision.
Quote: rainmanAgreed its pretty simple he valued his time more than the Extra dollars.
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If his time is so valuable he should start selling digital versions.
He can call it Billcoin.
You buy one Billcoin for $300,000 and get back $200,000 when you sell it.
It happens fast because time is the value.
The extra $100,000 just disappears into the block chain
Quote: darkozQuote: rainmanAgreed its pretty simple he valued his time more than the Extra dollars.
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If his time is so valuable he should start selling digital versions.
He can call it Billcoin.
You buy one Billcoin for $300,000 and get back $200,000 when you sell it.
It happens fast because time is the value.
The extra $100,000 just disappears into the block chain
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Gobbledygook.
The money is already invested and producing passive income. This weekend I'm culling my baseball cards and hope to wholesale a couple of thousand pre1980 cards. Maybe I'll get lucky and oz will tell me how he would sell them.
The money is already invested and producing passive income. This weekend I'm culling my baseball cards and hope to wholesale a couple of thousand pre1980 cards.
Quote: billryanIt's not just time, it's the expense of storing and insuring the merchandise, the expense of setting up at a show- gas, fees, hotels, booth help, parking in many places, etc, etc. My friends set up at the Tucson Comic Con and their expenses were close to four thousand dollars for the weekend. Theft is always an issue and I know two dealers who were robbed on the highway after comic shows.
The money is already invested and producing passive income. This weekend I'm culling my baseball cards and hope to wholesale a couple of thousand pre1980 cards. Maybe I'll get lucky and oz will tell me how he would sell them.
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eBay.
Create on online store.
Perhaps those are too 21st century for you.
Quote: DRichQuote: OnceDearWhy say that? Why attack me?
It seems like Bill has been very argumentative since his return.
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Why would you possibly use ‘seems like’ as opposed to ‘has been’ when I’ll bet you $1 you mean ‘has been’? You afraid of something?
I have been argumentative for the decade I’ve been here.
It's strange. Everyone in the know thinks a huge crypto crash is coming, but they all think they know the two or three that will survive.
Quote: billryanFor those interested, you can find the texts between SBF and other crypto leaders online. They begged him to stop before he brought down the whole house of cards. But for the rest of you, please buy now. Bitcoin will soon be at $250,000. It said so, on the internet, so you know it is true.
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SBF was one serious Bullspitter. Even now he talks in some flowery way that makes him sound like he knows more than the listener.
This is a comment about him from June 2021
Quote: https://academy.shrimpy.io/crypto-leaders/sam-bankman-fried-sbf"By matching the charisma of figures like Satoshi Nakamoto and Vitalik Buterin, SBF obtained a highly reputable status. The community loves him, and many Crypto Twitter users ascend him to godhood by creating memes and sharing jokes about Sam and the work he has put into crypto."
Which is amusing when it refers to "charisma of figures like Satoshi Nakamoto" A guy that has not been proven even to exist.
Quote: BBCSam Bankman-Fried, the former boss of the failed crypto-exchange FTX, has said he hopes to start a new business to help pay back the victims of his old firm’s collapse.
Speaking to the BBC from the Bahamas, he said he would “give anything” to be able to begin a new venture in order to recoup his users’ lost investments.
“I’m going to be thinking about how we can help the world, and if users haven’t gotten much back, I’m going to be thinking about what I can do for them,” Bankman-Fried told the BBC. “And I think at the very least I have a duty to FTX users to do right by them as best as I can.”
When asked whether he would start a new business to pay investors back, he said: “I would give anything to be able to do that. And I’m going to try if I can.”
He's touting the idea that a new 'business' that actually will do NOTHING, will create the profit with which to pay back his victims. Can even he really believe that? It's bad enough that the whole crypto economy is underpinned by NOTHING. But SBF wants to carry on as if nothing has happened. If he'd run this scam for hundreds or thousands of dollars, he'd be in jail by now. Doing it with billions, he can still sit in his Bahamas home and shrug.
How can so many people be so easily fooled, by these 'entrepreneurs' and their schemes?
The entrepreneurs even fool eachother... or seem to.
I can imagine the conversations he has had with his compliance officers. SBF literally created something out of nothing, sold it for a lot of money, and still managed to go broke.
He invested a lot of his ill gotten gains in donations to politicians on both sides. A pre-emptive bribe?Quote: billryanI don't think that he believes he is a scammer. It was just bad timing.
I can imagine the conversations he has had with his compliance officers. SBF literally created something out of nothing, sold it for a lot of money, and still managed to go broke.
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Our UK energy market is in a bad way, so are government and personal finance.Quote: ChumpChangeAnybody gonna pay their utility bills in bitcoin? I hear the UK will have electricity rates of 2,000 GBP/MWhr tomorrow, or 2 pounds per kwhr. It's just a transient price spike but it could extend and stay high. People be looking to the gov't to cap their bills, but the gov't will go broke too. It's probably time for rolling blackouts in the UK, and ATMs don't work without power.
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Nothing to do with Bitcoin
