sparky999
New Member
🗨️ 714
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October 2013
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Bitcoin
Dec 18, 2018 16:55:10 GMT 1
via mobile
Bitcoin, by sparky999 on Dec 18, 2018 16:55:10 GMT 1, When the full time cleaners were "investing" in crypto, it spelt trouble. Crypto wasn't designed as an investment vehicle but a decentralised currency used to exchange for goods or services. I took a small punt as I found the concept of Bitcoin fascinating. It genuinely wasn't actually about profit. Similar to art I suppose. Although we all really do hope our art goes up in value, if you like the painting and were willing to pay that price at the time then it shouldn't really matter. I don't think Bitcoin is going anywhere. The way the world is headed at the moment, decentralised money might see a great idea to a lot of countries in the future.
Damn another smart post this thread is scaring me lol where did all the crazies go?
When the full time cleaners were "investing" in crypto, it spelt trouble. Crypto wasn't designed as an investment vehicle but a decentralised currency used to exchange for goods or services. I took a small punt as I found the concept of Bitcoin fascinating. It genuinely wasn't actually about profit. Similar to art I suppose. Although we all really do hope our art goes up in value, if you like the painting and were willing to pay that price at the time then it shouldn't really matter. I don't think Bitcoin is going anywhere. The way the world is headed at the moment, decentralised money might see a great idea to a lot of countries in the future. Damn another smart post this thread is scaring me lol where did all the crazies go? |
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gd79
Junior Member
🗨️ 1,132
👍🏻 1,221
September 2015
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Bitcoin
Dec 18, 2018 17:02:43 GMT 1
via mobile
Bitcoin, by gd79 on Dec 18, 2018 17:02:43 GMT 1, For institutional investors it is virtually impossible to hold bitcoin in any size due to the capital requirement. Most would have to hold a dollar of equity against a dollar of bitcoin assets. It just doesn't work. You also cannot net, which rules out most derivatives functions. If it is not a medium of exchange then I cannot see how it can be a store of value. There is a far easier hyperinflation fall back option as well... Dollar bills. Hence we have the irony that most of the world's poorest countries effectively 'lend' the US billions Well that's not true at all. There are already Bitcoin futures. And there are loads of brokers that offer derivatives on Bitcoin already. In serious size too. That's just nonsense. Is gold a good medium of exchange? When is the last time you bought something for a gold nugget? Sure, but it's not the best solution... bitcoin is a far better one in many situations. And I don't think dollars will hold their reserve currency status for much longer.
Gold is not meant to be a medium of exchange. For bitcoin, it is the raisin d'etre. If it is not a medium of exchange then it is nothing at all.
And no regulated entity offers bitcoin futures in any size whatsoever. Yes there is a market, and that is fine. But it is miniscule in relative terms and will always be so while the regulatory requirements are so strict.
For institutional investors it is virtually impossible to hold bitcoin in any size due to the capital requirement. Most would have to hold a dollar of equity against a dollar of bitcoin assets. It just doesn't work. You also cannot net, which rules out most derivatives functions. If it is not a medium of exchange then I cannot see how it can be a store of value. There is a far easier hyperinflation fall back option as well... Dollar bills. Hence we have the irony that most of the world's poorest countries effectively 'lend' the US billions Well that's not true at all. There are already Bitcoin futures. And there are loads of brokers that offer derivatives on Bitcoin already. In serious size too. That's just nonsense. Is gold a good medium of exchange? When is the last time you bought something for a gold nugget? Sure, but it's not the best solution... bitcoin is a far better one in many situations. And I don't think dollars will hold their reserve currency status for much longer. Gold is not meant to be a medium of exchange. For bitcoin, it is the raisin d'etre. If it is not a medium of exchange then it is nothing at all. And no regulated entity offers bitcoin futures in any size whatsoever. Yes there is a market, and that is fine. But it is miniscule in relative terms and will always be so while the regulatory requirements are so strict. |
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Deleted
🗨️ 0
👍🏻
January 1970
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Bitcoin
Dec 18, 2018 17:10:11 GMT 1
Bitcoin, by Deleted on Dec 18, 2018 17:10:11 GMT 1, Well that's not true at all. There are already Bitcoin futures. And there are loads of brokers that offer derivatives on Bitcoin already. In serious size too. That's just nonsense. Is gold a good medium of exchange? When is the last time you bought something for a gold nugget? Sure, but it's not the best solution... bitcoin is a far better one in many situations. And I don't think dollars will hold their reserve currency status for much longer. Gold is not meant to be a medium of exchange. For bitcoin, it is the raisin d'etre. If it is not a medium of exchange then it is nothing at all. And no regulated entity offers bitcoin futures in any size whatsoever. Yes there is a market, and that is fine. But it is miniscule in relative terms and will always be so while the regulatory requirements are so strict.
What is gold meant to be then? Bitcoin can be and is used as a medium of exchange. It can also be used a store of value. A bit like... money.
CME is not a regulated entity, since when? It's still a new market, volume is quite low.. but i'm looking on my bloomberg screen now and there seems to be pretty decent flow going through. Most the big boys are trading OTC though tbf.
Well that's not true at all. There are already Bitcoin futures. And there are loads of brokers that offer derivatives on Bitcoin already. In serious size too. That's just nonsense. Is gold a good medium of exchange? When is the last time you bought something for a gold nugget? Sure, but it's not the best solution... bitcoin is a far better one in many situations. And I don't think dollars will hold their reserve currency status for much longer. Gold is not meant to be a medium of exchange. For bitcoin, it is the raisin d'etre. If it is not a medium of exchange then it is nothing at all. And no regulated entity offers bitcoin futures in any size whatsoever. Yes there is a market, and that is fine. But it is miniscule in relative terms and will always be so while the regulatory requirements are so strict. What is gold meant to be then? Bitcoin can be and is used as a medium of exchange. It can also be used a store of value. A bit like... money. CME is not a regulated entity, since when? It's still a new market, volume is quite low.. but i'm looking on my bloomberg screen now and there seems to be pretty decent flow going through. Most the big boys are trading OTC though tbf. |
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gd79
Junior Member
🗨️ 1,132
👍🏻 1,221
September 2015
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Bitcoin
Dec 18, 2018 17:18:23 GMT 1
via mobile
Bitcoin, by gd79 on Dec 18, 2018 17:18:23 GMT 1, Gold evolved as a medium of exchange, it was not created to be so.
Volumes are too small to even notice, on exchange or OTC. You are right, the exchanges are regulated, but they do not have regulatory capital requirement. It is these requirements that rules out any major bank or insurance company having anything other than trivial crypto assets on their balance sheet.
Gold evolved as a medium of exchange, it was not created to be so.
Volumes are too small to even notice, on exchange or OTC. You are right, the exchanges are regulated, but they do not have regulatory capital requirement. It is these requirements that rules out any major bank or insurance company having anything other than trivial crypto assets on their balance sheet.
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Deleted
🗨️ 0
👍🏻
January 1970
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Bitcoin
Dec 18, 2018 17:34:00 GMT 1
Bitcoin, by Deleted on Dec 18, 2018 17:34:00 GMT 1, Gold evolved as a medium of exchange, it was not created to be so. Volumes are too small to even notice, on exchange or OTC. You are right, the exchanges are regulated, but they do not have regulatory capital requirement. It is these requirements that rules out any major bank or insurance company having anything other than trivial crypto assets on their balance sheet.
Gold wasn't created for anything... it's just shiny rocks in the ground. At least bitcoin has a purpose.
But I agree on that part. However, there isn't a big player out there that hasn't at least taken a look at investing in Bitcoin. And with the likes of Goldmans setting up trading desks it's only a matter of time imo.
Gold evolved as a medium of exchange, it was not created to be so. Volumes are too small to even notice, on exchange or OTC. You are right, the exchanges are regulated, but they do not have regulatory capital requirement. It is these requirements that rules out any major bank or insurance company having anything other than trivial crypto assets on their balance sheet. Gold wasn't created for anything... it's just shiny rocks in the ground. At least bitcoin has a purpose. But I agree on that part. However, there isn't a big player out there that hasn't at least taken a look at investing in Bitcoin. And with the likes of Goldmans setting up trading desks it's only a matter of time imo. |
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.dappy
Full Member
🗨️ 9,841
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December 2010
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Bitcoin
Dec 18, 2018 18:14:35 GMT 1
via mobile
Bitcoin, by .dappy on Dec 18, 2018 18:14:35 GMT 1, ... gold is extensively used in the electronics industry ...
... 34% of all gold used in the USA in 2017 was used for that purpose ...
... gold is also quite widely used in medicine ... and not just for teeth 
... gold is extensively used in the electronics industry ... ... 34% of all gold used in the USA in 2017 was used for that purpose ... ... gold is also quite widely used in medicine ... and not just for teeth |
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Dive Jedi
Junior Member
🗨️ 6,194
👍🏻 9,453
October 2015
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Bitcoin
Dec 18, 2018 18:24:27 GMT 1
Bitcoin, by Dive Jedi on Dec 18, 2018 18:24:27 GMT 1, ... gold is extensively used in the electronics industry ... ... 34% of all gold used in the USA in 2017 was used for that purpose ... ... gold is also quite widely used in medicine ... and not just for teeth
Surely you have a couple LOL
... gold is extensively used in the electronics industry ... ... 34% of all gold used in the USA in 2017 was used for that purpose ... ... gold is also quite widely used in medicine ... and not just for teeth Sounds like a great new thread : SHOW US.... your gold teeth. Surely you have a couple LOL |
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Bitcoin
Dec 18, 2018 18:30:04 GMT 1
via mobile
Bitcoin, by Express Post on Dec 18, 2018 18:30:04 GMT 1, If you comprehended my post, I covered futures by stating the underlying assets as physical. I can convert my commodities future into the commodity.
The intrinsic value of the paper that a single banknote is worth is so miniscule, it is impractical and overpriced to even attach a value of $0.01 per note.
Gold has been accepted by governments as a store of value. Crypto hasn't.
If I choose not to take possession, I can leave it at the exchange. I still own the gold, and If I really wanted to, I can go collect the ingots.
To be precise, gold is a metal or mineral, not just a rock like you describe. But because of its acceptance over history, you're going to have a hard time convincing the United States Federal Reserve that they are housing a pile of worthless rocks at Fort Knox. I'd back the world's governments over a forum nobody any day.
Everything you listed is physical or the underlying asset is physical. Btc has absolutely nothing. It is like investing in the common banknotes, except you still get a piece of paper or polymer. Even Didi is now getting desperate by knocking FANG. Would like to hear you explain how a future is physical... And so what you get a piece of paper? That piece of paper has a tiny intrinsic value. And how many people who invest in Gold actually hold the gold? Not many. Even if you do, so what? You've got a shiny rock. It's still only worth what the next man is willing to pay for your shiny rock.
If you comprehended my post, I covered futures by stating the underlying assets as physical. I can convert my commodities future into the commodity. The intrinsic value of the paper that a single banknote is worth is so miniscule, it is impractical and overpriced to even attach a value of $0.01 per note. Gold has been accepted by governments as a store of value. Crypto hasn't. If I choose not to take possession, I can leave it at the exchange. I still own the gold, and If I really wanted to, I can go collect the ingots. To be precise, gold is a metal or mineral, not just a rock like you describe. But because of its acceptance over history, you're going to have a hard time convincing the United States Federal Reserve that they are housing a pile of worthless rocks at Fort Knox. I'd back the world's governments over a forum nobody any day. Everything you listed is physical or the underlying asset is physical. Btc has absolutely nothing. It is like investing in the common banknotes, except you still get a piece of paper or polymer. Even Didi is now getting desperate by knocking FANG. Would like to hear you explain how a future is physical... And so what you get a piece of paper? That piece of paper has a tiny intrinsic value. And how many people who invest in Gold actually hold the gold? Not many. Even if you do, so what? You've got a shiny rock. It's still only worth what the next man is willing to pay for your shiny rock. |
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Deleted
🗨️ 0
👍🏻
January 1970
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Bitcoin
Dec 18, 2018 18:51:38 GMT 1
Bitcoin, by Deleted on Dec 18, 2018 18:51:38 GMT 1, If you comprehended my post, I covered futures by stating the underlying assets as physical. I can convert my commodities future into the commodity. The intrinsic value of the paper that a single banknote is worth is so miniscule, it is impractical and overpriced to even attach a value of $0.01 per note. Gold has been accepted by governments as a store of value. Crypto hasn't. If I choose not to take possession, I can leave it at the exchange. I still own the gold, and If I really wanted to, I can go collect the ingots. To be precise, gold is a metal or mineral, not just a rock like you describe. But because of its acceptance over history, you're going to have a hard time convincing the United States Federal Reserve that they are housing a pile of worthless rocks at Fort Knox. I'd back the world's governments over a forum nobody any day. Would like to hear you explain how a future is physical... And so what you get a piece of paper? That piece of paper has a tiny intrinsic value. And how many people who invest in Gold actually hold the gold? Not many. Even if you do, so what? You've got a shiny rock. It's still only worth what the next man is willing to pay for your shiny rock.
You can indeed take delivery of your commodities, but as you know nobody actually does. You also can physically store your Bitcoin, this is called a private key. And if anyone does own Bitcoin I strongly encourage you to take it off exchange and store it in a secure method. I use a Trezor myself. So what's the difference? One in a shiny rock the other is a unique string of characters.
Glad you agree that intrinsic value is of no importance.
Gold is good because it has been used for a long time. Noted. That's an amazing argument.
Well the ENTIRE point of Bitcoin is that is requires no trust in a government. Nobody can increase the money supply like governments all over the world have been doing for the last decade. It is a transparent and immutable ledger. If you see no value in that then feel free to ride the waves of inflation. At least this 'forum nobody' has skin in the game. If you don't believe in Bitcoin then feel free to short it.
If you comprehended my post, I covered futures by stating the underlying assets as physical. I can convert my commodities future into the commodity. The intrinsic value of the paper that a single banknote is worth is so miniscule, it is impractical and overpriced to even attach a value of $0.01 per note. Gold has been accepted by governments as a store of value. Crypto hasn't. If I choose not to take possession, I can leave it at the exchange. I still own the gold, and If I really wanted to, I can go collect the ingots. To be precise, gold is a metal or mineral, not just a rock like you describe. But because of its acceptance over history, you're going to have a hard time convincing the United States Federal Reserve that they are housing a pile of worthless rocks at Fort Knox. I'd back the world's governments over a forum nobody any day. Would like to hear you explain how a future is physical... And so what you get a piece of paper? That piece of paper has a tiny intrinsic value. And how many people who invest in Gold actually hold the gold? Not many. Even if you do, so what? You've got a shiny rock. It's still only worth what the next man is willing to pay for your shiny rock. You can indeed take delivery of your commodities, but as you know nobody actually does. You also can physically store your Bitcoin, this is called a private key. And if anyone does own Bitcoin I strongly encourage you to take it off exchange and store it in a secure method. I use a Trezor myself. So what's the difference? One in a shiny rock the other is a unique string of characters. Glad you agree that intrinsic value is of no importance. Gold is good because it has been used for a long time. Noted. That's an amazing argument. Well the ENTIRE point of Bitcoin is that is requires no trust in a government. Nobody can increase the money supply like governments all over the world have been doing for the last decade. It is a transparent and immutable ledger. If you see no value in that then feel free to ride the waves of inflation. At least this 'forum nobody' has skin in the game. If you don't believe in Bitcoin then feel free to short it. |
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gd79
Junior Member
🗨️ 1,132
👍🏻 1,221
September 2015
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Bitcoin
Dec 18, 2018 19:00:26 GMT 1
via mobile
Bitcoin, by gd79 on Dec 18, 2018 19:00:26 GMT 1, ... gold is extensively used in the electronics industry ... ... 34% of all gold used in the USA in 2017 was used for that purpose ... ... gold is also quite widely used in medicine ... and not just for teeth
I went to a meeting once where they had a 100kg gold coin on display in the room. It was quite a thing. I couldn't get it in my bag unfortunately
... gold is extensively used in the electronics industry ... ... 34% of all gold used in the USA in 2017 was used for that purpose ... ... gold is also quite widely used in medicine ... and not just for teeth I went to a meeting once where they had a 100kg gold coin on display in the room. It was quite a thing. I couldn't get it in my bag unfortunately |
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Deleted
🗨️ 0
👍🏻
January 1970
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Bitcoin
Dec 18, 2018 19:02:26 GMT 1
via mobile
Bitcoin, by Deleted on Dec 18, 2018 19:02:26 GMT 1, ... gold is extensively used in the electronics industry ... ... 34% of all gold used in the USA in 2017 was used for that purpose ... ... gold is also quite widely used in medicine ... and not just for teeth
Really? Like what? Genuinely interested.
... gold is extensively used in the electronics industry ... ... 34% of all gold used in the USA in 2017 was used for that purpose ... ... gold is also quite widely used in medicine ... and not just for teeth Really? Like what? Genuinely interested. |
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Bitcoin
Dec 18, 2018 19:06:21 GMT 1
via mobile
Bitcoin, by Express Post on Dec 18, 2018 19:06:21 GMT 1, You just don't get that there is no underlying asset for Bitcoin. It's just code. Taking possession of a commodity and being able to utilise it is not the same as dowloading code onto a USB stick.
I still don't invest in crypto, just trade arbitrage.
You're now adding other stuff not related to the gold argument. The stuff is finite, and expensive to mine, and already accepted by everyone, except yourself, as a store of wealth. What you're now talking about now is the printing of fiat currency, ie bank notes. That's totally different. They aren't printing more gold.
If you comprehended my post, I covered futures by stating the underlying assets as physical. I can convert my commodities future into the commodity. The intrinsic value of the paper that a single banknote is worth is so miniscule, it is impractical and overpriced to even attach a value of $0.01 per note. Gold has been accepted by governments as a store of value. Crypto hasn't. If I choose not to take possession, I can leave it at the exchange. I still own the gold, and If I really wanted to, I can go collect the ingots. To be precise, gold is a metal or mineral, not just a rock like you describe. But because of its acceptance over history, you're going to have a hard time convincing the United States Federal Reserve that they are housing a pile of worthless rocks at Fort Knox. I'd back the world's governments over a forum nobody any day. You can indeed take delivery of your commodities, but as you know nobody actually does. You also can physically store your Bitcoin, this is called a private key. And if anyone does own Bitcoin I strongly encourage you to take it off exchange and store it in a secure method. I use a Trezor myself. So what's the difference? One in a shiny rock the other is a unique string of characters. Glad you agree that intrinsic value is of no importance. Gold is good because it has been used for a long time. Noted. That's an amazing argument. Well the ENTIRE point of Bitcoin is that is requires no trust in a government. Nobody can increase the money supply like governments all over the world have been doing for the last decade. It is a transparent and immutable ledger. If you see no value in that then feel free to ride the waves of inflation. At least this 'forum nobody' has skin in the game. If you don't believe in Bitcoin then feel free to short it.
You just don't get that there is no underlying asset for Bitcoin. It's just code. Taking possession of a commodity and being able to utilise it is not the same as dowloading code onto a USB stick. I still don't invest in crypto, just trade arbitrage. You're now adding other stuff not related to the gold argument. The stuff is finite, and expensive to mine, and already accepted by everyone, except yourself, as a store of wealth. What you're now talking about now is the printing of fiat currency, ie bank notes. That's totally different. They aren't printing more gold. If you comprehended my post, I covered futures by stating the underlying assets as physical. I can convert my commodities future into the commodity. The intrinsic value of the paper that a single banknote is worth is so miniscule, it is impractical and overpriced to even attach a value of $0.01 per note. Gold has been accepted by governments as a store of value. Crypto hasn't. If I choose not to take possession, I can leave it at the exchange. I still own the gold, and If I really wanted to, I can go collect the ingots. To be precise, gold is a metal or mineral, not just a rock like you describe. But because of its acceptance over history, you're going to have a hard time convincing the United States Federal Reserve that they are housing a pile of worthless rocks at Fort Knox. I'd back the world's governments over a forum nobody any day. You can indeed take delivery of your commodities, but as you know nobody actually does. You also can physically store your Bitcoin, this is called a private key. And if anyone does own Bitcoin I strongly encourage you to take it off exchange and store it in a secure method. I use a Trezor myself. So what's the difference? One in a shiny rock the other is a unique string of characters. Glad you agree that intrinsic value is of no importance. Gold is good because it has been used for a long time. Noted. That's an amazing argument. Well the ENTIRE point of Bitcoin is that is requires no trust in a government. Nobody can increase the money supply like governments all over the world have been doing for the last decade. It is a transparent and immutable ledger. If you see no value in that then feel free to ride the waves of inflation. At least this 'forum nobody' has skin in the game. If you don't believe in Bitcoin then feel free to short it. |
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Bitcoin, by Sliding on the Walls on Dec 18, 2018 19:16:01 GMT 1, Wasn't there someone who sold a Banksy on here last year for a fraction of a bitcoin. Ouch.
That person was me... Traded a few times subsequently and was able to buy myself a lovely new C class cabriolet 🙂
Wasn't there someone who sold a Banksy on here last year for a fraction of a bitcoin. Ouch. That person was me... Traded a few times subsequently and was able to buy myself a lovely new C class cabriolet 🙂 |
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Deleted
🗨️ 0
👍🏻
January 1970
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Bitcoin
Dec 18, 2018 19:16:10 GMT 1
via mobile
Bitcoin, by Deleted on Dec 18, 2018 19:16:10 GMT 1, You just don't get that there is no underlying asset for Bitcoin. It's just code. Taking possession of a commodity and being able to utilise it is not the same as dowloading code onto a USB stick. I still don't invest in crypto, just trade arbitrage. You're now adding other stuff not related to the gold argument. The stuff is finite, and expensive to mine, and already accepted by everyone, except yourself, as a store of wealth. What you're now talking about now is the printing of fiat currency, ie bank notes. That's totally different. They aren't printing more gold. You can indeed take delivery of your commodities, but as you know nobody actually does. You also can physically store your Bitcoin, this is called a private key. And if anyone does own Bitcoin I strongly encourage you to take it off exchange and store it in a secure method. I use a Trezor myself. So what's the difference? One in a shiny rock the other is a unique string of characters. Glad you agree that intrinsic value is of no importance. Gold is good because it has been used for a long time. Noted. That's an amazing argument. Well the ENTIRE point of Bitcoin is that is requires no trust in a government. Nobody can increase the money supply like governments all over the world have been doing for the last decade. It is a transparent and immutable ledger. If you see no value in that then feel free to ride the waves of inflation. At least this 'forum nobody' has skin in the game. If you don't believe in Bitcoin then feel free to short it.
I understand full well. And gold is just a shiny rock. So what you can hold a shiny rock in your hand? I can print my code out and hold it in my hand if I want.
And I fully accept gold is a store of value. I own gold. But I also accept it's value is based on what the next man is willing to pay for it.
Bitcoin is also finite, there will only ever be 21 million.
That's fine, you don't have to invest or trade it. But I prefer skin in the game rather than just talk from a nobody on a forum.
You just don't get that there is no underlying asset for Bitcoin. It's just code. Taking possession of a commodity and being able to utilise it is not the same as dowloading code onto a USB stick. I still don't invest in crypto, just trade arbitrage. You're now adding other stuff not related to the gold argument. The stuff is finite, and expensive to mine, and already accepted by everyone, except yourself, as a store of wealth. What you're now talking about now is the printing of fiat currency, ie bank notes. That's totally different. They aren't printing more gold. You can indeed take delivery of your commodities, but as you know nobody actually does. You also can physically store your Bitcoin, this is called a private key. And if anyone does own Bitcoin I strongly encourage you to take it off exchange and store it in a secure method. I use a Trezor myself. So what's the difference? One in a shiny rock the other is a unique string of characters. Glad you agree that intrinsic value is of no importance. Gold is good because it has been used for a long time. Noted. That's an amazing argument. Well the ENTIRE point of Bitcoin is that is requires no trust in a government. Nobody can increase the money supply like governments all over the world have been doing for the last decade. It is a transparent and immutable ledger. If you see no value in that then feel free to ride the waves of inflation. At least this 'forum nobody' has skin in the game. If you don't believe in Bitcoin then feel free to short it. I understand full well. And gold is just a shiny rock. So what you can hold a shiny rock in your hand? I can print my code out and hold it in my hand if I want. And I fully accept gold is a store of value. I own gold. But I also accept it's value is based on what the next man is willing to pay for it. Bitcoin is also finite, there will only ever be 21 million. That's fine, you don't have to invest or trade it. But I prefer skin in the game rather than just talk from a nobody on a forum. |
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Bitcoin, by 63schoefflin on Dec 18, 2018 19:19:05 GMT 1, Less than 21mill after the lost accounts 😎
Less than 21mill after the lost accounts 😎
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Deleted
🗨️ 0
👍🏻
January 1970
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Bitcoin
Dec 18, 2018 19:23:51 GMT 1
via mobile
Bitcoin, by Deleted on Dec 18, 2018 19:23:51 GMT 1, Less than 21mill after the lost accounts 😎
Good point. And not a fake Bitcoin in sight, it's impossible. Unlike gold...
Less than 21mill after the lost accounts 😎 Good point. And not a fake Bitcoin in sight, it's impossible. Unlike gold... |
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.dappy
Full Member
🗨️ 9,841
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December 2010
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Bitcoin
Dec 18, 2018 19:27:39 GMT 1
via mobile
Bitcoin, by .dappy on Dec 18, 2018 19:27:39 GMT 1, Less than 21mill after the lost accounts 😎 Good point. And not a fake Bitcoin in sight, it's impossible. Unlike gold...
... yes because people have not been fooled with cryto-currency ...
... I'm sure bullion dealers know what gold looks like ... unlike those buying it 'down the market' ...
Less than 21mill after the lost accounts 😎 Good point. And not a fake Bitcoin in sight, it's impossible. Unlike gold... ... yes because people have not been fooled with cryto-currency ... ... I'm sure bullion dealers know what gold looks like ... unlike those buying it 'down the market' ... |
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Deleted
🗨️ 0
👍🏻
January 1970
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Bitcoin
Dec 18, 2018 19:33:00 GMT 1
via mobile
Bitcoin, by Deleted on Dec 18, 2018 19:33:00 GMT 1, Good point. And not a fake Bitcoin in sight, it's impossible. Unlike gold... ... yes because people have not been fooled with cryto-currency ... ... I'm sure bullion dealers know what gold looks like ... unlike those buying it 'down the market' ...
The point is you can't create a fake Bitcoin, it's not possible. I don't need to trust a deaier, I just need to look at the Blockchain.
We are making progress, this is good fun 
Good point. And not a fake Bitcoin in sight, it's impossible. Unlike gold... ... yes because people have not been fooled with cryto-currency ... ... I'm sure bullion dealers know what gold looks like ... unlike those buying it 'down the market' ... The point is you can't create a fake Bitcoin, it's not possible. I don't need to trust a deaier, I just need to look at the Blockchain. We are making progress, this is good fun |
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.dappy
Full Member
🗨️ 9,841
👍🏻 9,462
December 2010
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Bitcoin
Dec 18, 2018 19:38:53 GMT 1
via mobile
Bitcoin, by .dappy on Dec 18, 2018 19:38:53 GMT 1, ... gold is extensively used in the electronics industry ... ... 34% of all gold used in the USA in 2017 was used for that purpose ... ... gold is also quite widely used in medicine ... and not just for teeth Really? Like what? Genuinely interested.
... electrical connections, desk and laptop computers, mobile phones, GPS units, aerospace technology, solar panels, glazing, vehicle particulate filters etc ... Google is your friend ...
... gold is extensively used in the electronics industry ... ... 34% of all gold used in the USA in 2017 was used for that purpose ... ... gold is also quite widely used in medicine ... and not just for teeth Really? Like what? Genuinely interested. ... electrical connections, desk and laptop computers, mobile phones, GPS units, aerospace technology, solar panels, glazing, vehicle particulate filters etc ... Google is your friend ... |
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Deleted
🗨️ 0
👍🏻
January 1970
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Bitcoin
Dec 18, 2018 19:41:52 GMT 1
via mobile
Bitcoin, by Deleted on Dec 18, 2018 19:41:52 GMT 1, Really? Like what? Genuinely interested. ... electrical connections, desk and laptop computers, mobile phones, GPS units, aerospace technology, solar panels, glazing, vehicle particulate filters etc ... Google is your friend ...
I meant the medicine part
Really? Like what? Genuinely interested. ... electrical connections, desk and laptop computers, mobile phones, GPS units, aerospace technology, solar panels, glazing, vehicle particulate filters etc ... Google is your friend ... I meant the medicine part |
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.dappy
Full Member
🗨️ 9,841
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December 2010
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Bitcoin
Dec 18, 2018 19:42:41 GMT 1
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Bitcoin, by .dappy on Dec 18, 2018 19:42:41 GMT 1, ... yes because people have not been fooled with cryto-currency ... ... I'm sure bullion dealers know what gold looks like ... unlike those buying it 'down the market' ... The point is you can't create a fake Bitcoin, it's not possible. I don't need to trust a deaier, I just need to look at the Blockchain. We are making progress, this is good fun
... of course you can create a fake cryto-currency if people do not know what they are looking at ... the same way you can create fake gold ... if you do not know what you are looking at ...
... yes because people have not been fooled with cryto-currency ... ... I'm sure bullion dealers know what gold looks like ... unlike those buying it 'down the market' ... The point is you can't create a fake Bitcoin, it's not possible. I don't need to trust a deaier, I just need to look at the Blockchain. We are making progress, this is good fun ... of course you can create a fake cryto-currency if people do not know what they are looking at ... the same way you can create fake gold ... if you do not know what you are looking at ... |
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Deleted
🗨️ 0
👍🏻
January 1970
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Bitcoin
Dec 18, 2018 19:46:53 GMT 1
via mobile
Bitcoin, by Deleted on Dec 18, 2018 19:46:53 GMT 1, The point is you can't create a fake Bitcoin, it's not possible. I don't need to trust a deaier, I just need to look at the Blockchain. We are making progress, this is good fun ... of course you can create a fake cryto-currency if people do not know what they are looking at ... the same way you can create fake gold ... if you do not know what you are looking at ...
I can sell you a fiat and tell you it's a Ferrari, sure. But nobody can actually create a fake Bitcoin and I don't have to trust anybody. It is decentralised. If you buy gold you do have to trust a dealer. Because it is very easy to create fake gold. This is the entire point.
The point is you can't create a fake Bitcoin, it's not possible. I don't need to trust a deaier, I just need to look at the Blockchain. We are making progress, this is good fun ... of course you can create a fake cryto-currency if people do not know what they are looking at ... the same way you can create fake gold ... if you do not know what you are looking at ... I can sell you a fiat and tell you it's a Ferrari, sure. But nobody can actually create a fake Bitcoin and I don't have to trust anybody. It is decentralised. If you buy gold you do have to trust a dealer. Because it is very easy to create fake gold. This is the entire point. |
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.dappy
Full Member
🗨️ 9,841
👍🏻 9,462
December 2010
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Bitcoin
Dec 18, 2018 19:50:09 GMT 1
via mobile
Bitcoin, by .dappy on Dec 18, 2018 19:50:09 GMT 1, ... electrical connections, desk and laptop computers, mobile phones, GPS units, aerospace technology, solar panels, glazing, vehicle particulate filters etc ... Google is your friend ... I meant the medicine part
... not including dentistry ... it has been used for a long time in joint related illnesses, commonly 'gold injections' to literally help with the lubrication of the joint ... it is also used in the treatment of a number of cancers ... it is also linked and used as a nano-particle framework in a number of drugs ... it is a chemically inert metal and non-allergenic ...
... electrical connections, desk and laptop computers, mobile phones, GPS units, aerospace technology, solar panels, glazing, vehicle particulate filters etc ... Google is your friend ... I meant the medicine part ... not including dentistry ... it has been used for a long time in joint related illnesses, commonly 'gold injections' to literally help with the lubrication of the joint ... it is also used in the treatment of a number of cancers ... it is also linked and used as a nano-particle framework in a number of drugs ... it is a chemically inert metal and non-allergenic ... |
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.dappy
Full Member
🗨️ 9,841
👍🏻 9,462
December 2010
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Bitcoin
Dec 18, 2018 19:50:56 GMT 1
via mobile
Bitcoin, by .dappy on Dec 18, 2018 19:50:56 GMT 1, ... of course you can create a fake cryto-currency if people do not know what they are looking at ... the same way you can create fake gold ... if you do not know what you are looking at ... I can sell you a fiat and tell you it's a Ferrari, sure. But nobody can actually create a fake Bitcoin and I don't have to trust anybody. It is decentralised. If you buy gold you do have to trust a dealer. Because it is very easy to create fake gold. This is the entire point.
... trust no-one ... you can test the gold yourself ... lol
... of course you can create a fake cryto-currency if people do not know what they are looking at ... the same way you can create fake gold ... if you do not know what you are looking at ... I can sell you a fiat and tell you it's a Ferrari, sure. But nobody can actually create a fake Bitcoin and I don't have to trust anybody. It is decentralised. If you buy gold you do have to trust a dealer. Because it is very easy to create fake gold. This is the entire point. ... trust no-one ... you can test the gold yourself ... lol |
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Deleted
🗨️ 0
👍🏻
January 1970
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Bitcoin
Dec 18, 2018 19:54:06 GMT 1
Bitcoin, by Deleted on Dec 18, 2018 19:54:06 GMT 1, I can sell you a fiat and tell you it's a Ferrari, sure. But nobody can actually create a fake Bitcoin and I don't have to trust anybody. It is decentralised. If you buy gold you do have to trust a dealer. Because it is very easy to create fake gold. This is the entire point. ... trust no-one ... you can test the gold yourself ... lol
You can indeed. Run a bath, sit in bath without the gold, then... well you know how the rest goes
I can sell you a fiat and tell you it's a Ferrari, sure. But nobody can actually create a fake Bitcoin and I don't have to trust anybody. It is decentralised. If you buy gold you do have to trust a dealer. Because it is very easy to create fake gold. This is the entire point. ... trust no-one ... you can test the gold yourself ... lol
You can indeed. Run a bath, sit in bath without the gold, then... well you know how the rest goes
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Deleted
🗨️ 0
👍🏻
January 1970
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Bitcoin
Dec 18, 2018 19:55:10 GMT 1
Bitcoin, by Deleted on Dec 18, 2018 19:55:10 GMT 1, I meant the medicine part ... not including dentistry ... it has been used for a long time in joint related illnesses, commonly 'gold injections' to literally help with the lubrication of the joint ... it is also used in the treatment of a number of cancers ... it is also linked and used as a nano-particle framework in a number of drugs ... it is a chemically inert metal and non-allergenic ...
Well you learn something new every day. If I ever get joint problems I want gold injections on the NHS no questions asked!
I meant the medicine part ... not including dentistry ... it has been used for a long time in joint related illnesses, commonly 'gold injections' to literally help with the lubrication of the joint ... it is also used in the treatment of a number of cancers ... it is also linked and used as a nano-particle framework in a number of drugs ... it is a chemically inert metal and non-allergenic ...
Well you learn something new every day. If I ever get joint problems I want gold injections on the NHS no questions asked!
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.dappy
Full Member
🗨️ 9,841
👍🏻 9,462
December 2010
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Bitcoin
Dec 18, 2018 19:57:44 GMT 1
via mobile
Bitcoin, by .dappy on Dec 18, 2018 19:57:44 GMT 1, ... trust no-one ... you can test the gold yourself ... lol
You can indeed. Run a bath, sit in bath without the gold, then... well you know how the rest goes
... no I don't actually ... but if you tell me it's raining outside, while your pissing up my leg ... I'll know that
... trust no-one ... you can test the gold yourself ... lol
You can indeed. Run a bath, sit in bath without the gold, then... well you know how the rest goes
... no I don't actually ... but if you tell me it's raining outside, while your pissing up my leg ... I'll know that |
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Bitcoin
Dec 18, 2018 20:06:05 GMT 1
via mobile
Bitcoin, by Express Post on Dec 18, 2018 20:06:05 GMT 1, Isn't trading crypto arbitrage having skin in game?
You just don't get that there is no underlying asset for Bitcoin. It's just code. Taking possession of a commodity and being able to utilise it is not the same as dowloading code onto a USB stick. I still don't invest in crypto, just trade arbitrage. You're now adding other stuff not related to the gold argument. The stuff is finite, and expensive to mine, and already accepted by everyone, except yourself, as a store of wealth. What you're now talking about now is the printing of fiat currency, ie bank notes. That's totally different. They aren't printing more gold. I understand full well. And gold is just a shiny rock. So what you can hold a shiny rock in your hand? I can print my code out and hold it in my hand if I want. And I fully accept gold is a store of value. I own gold. But I also accept it's value is based on what the next man is willing to pay for it. Bitcoin is also finite, there will only ever be 21 million. That's fine, you don't have to invest or trade it. But I prefer skin in the game rather than just talk from a nobody on a forum.
Isn't trading crypto arbitrage having skin in game? You just don't get that there is no underlying asset for Bitcoin. It's just code. Taking possession of a commodity and being able to utilise it is not the same as dowloading code onto a USB stick. I still don't invest in crypto, just trade arbitrage. You're now adding other stuff not related to the gold argument. The stuff is finite, and expensive to mine, and already accepted by everyone, except yourself, as a store of wealth. What you're now talking about now is the printing of fiat currency, ie bank notes. That's totally different. They aren't printing more gold. I understand full well. And gold is just a shiny rock. So what you can hold a shiny rock in your hand? I can print my code out and hold it in my hand if I want. And I fully accept gold is a store of value. I own gold. But I also accept it's value is based on what the next man is willing to pay for it. Bitcoin is also finite, there will only ever be 21 million. That's fine, you don't have to invest or trade it. But I prefer skin in the game rather than just talk from a nobody on a forum. |
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gd79
Junior Member
🗨️ 1,132
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September 2015
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Bitcoin
Dec 18, 2018 20:12:11 GMT 1
via mobile
Bitcoin, by gd79 on Dec 18, 2018 20:12:11 GMT 1, Gold is more ductile than any other material. One ounce can be stretched into a wire five miles long. So there you have an easy test - stretch it out and see how long the wire is
And bitcoin cannot be faked, but it can certainly be hacked. And you could easily set up fake wallets/ sites/ apps that can make someone think they have received something they haven't.
I'm not anti bitcoin btw. But I do have one big conceptual problem. Gold is a 'technology' that is forever unchanged. It is an element. Bitcoin is premised on technology that will be outdated in a generation. What then? I'm sure it can be updated if there is enough vested interested, but will there be the appetite?
Gold is more ductile than any other material. One ounce can be stretched into a wire five miles long. So there you have an easy test - stretch it out and see how long the wire is
And bitcoin cannot be faked, but it can certainly be hacked. And you could easily set up fake wallets/ sites/ apps that can make someone think they have received something they haven't.
I'm not anti bitcoin btw. But I do have one big conceptual problem. Gold is a 'technology' that is forever unchanged. It is an element. Bitcoin is premised on technology that will be outdated in a generation. What then? I'm sure it can be updated if there is enough vested interested, but will there be the appetite?
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Deleted
🗨️ 0
👍🏻
January 1970
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Bitcoin
Dec 18, 2018 20:24:54 GMT 1
Bitcoin, by Deleted on Dec 18, 2018 20:24:54 GMT 1, Gold is more ductile than any other material. One ounce can be stretched into a wire five miles long. So there you have an easy test - stretch it out and see how long the wire is And bitcoin cannot be faked, but it can certainly be hacked. And you could easily set up fake wallets/ sites/ apps that can make someone think they have received something they haven't. I'm not anti bitcoin btw. But I do have one big conceptual problem. Gold is a 'technology' that is forever unchanged. It is an element. Bitcoin is premised on technology that will be outdated in a generation. What then? I'm sure it can be updated if there is enough vested interested, but will there be the appetite?
Actually Bitcoin cannot be hacked (not with today's computing power anyway). The exchanges can, but then you shouldn't leave bitcoin on an exchange.
Fair question. Bitcoin can be and is updated all the time. Any developer can submit changes, but as nobody controls bitcoin there has to be consensus about what is the actual latest version. Not sure if I've explained that well, but yes it can be updated. However, the biggest risk to bitcoin to me is that a much better crytocurrency is launched. I'm sure some that have already launched are actually better, but they don't have the network effect that bitcoin does.
Gold is more ductile than any other material. One ounce can be stretched into a wire five miles long. So there you have an easy test - stretch it out and see how long the wire is And bitcoin cannot be faked, but it can certainly be hacked. And you could easily set up fake wallets/ sites/ apps that can make someone think they have received something they haven't. I'm not anti bitcoin btw. But I do have one big conceptual problem. Gold is a 'technology' that is forever unchanged. It is an element. Bitcoin is premised on technology that will be outdated in a generation. What then? I'm sure it can be updated if there is enough vested interested, but will there be the appetite?
Actually Bitcoin cannot be hacked (not with today's computing power anyway). The exchanges can, but then you shouldn't leave bitcoin on an exchange.
Fair question. Bitcoin can be and is updated all the time. Any developer can submit changes, but as nobody controls bitcoin there has to be consensus about what is the actual latest version. Not sure if I've explained that well, but yes it can be updated. However, the biggest risk to bitcoin to me is that a much better crytocurrency is launched. I'm sure some that have already launched are actually better, but they don't have the network effect that bitcoin does.
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