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OfflineNorthernerM
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Re: This crypto stuff is CRAZY- Perhaps even criminal (moved) [Re: Fiery]
    #27774985 - 05/13/22 02:20 AM (1 year, 8 months ago)

This thread was moved from The Pub.

Reason:
News part has dawdled quickly and now discussing the merits of crypto. Goes here.


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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: koods] * 1
    #27774986 - 05/13/22 02:20 AM (1 year, 8 months ago)



Deflationary by its very nature an ever shrinking supply while the fiat is always guaranteed 100% to be dealing with the woes of inflation.

Now bitcoin is actually a shit digital currency but most people are stupid like you, which keeps it king of the market.


--------------------
Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.

And I am mentally unstable.


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Offlinekoods
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27774987 - 05/13/22 02:20 AM (1 year, 8 months ago)

Quote:

budmanman said:
Fiat Currency is a broken system with a 100% failure rate, the USD has been one of the if not the longest running fiat currency and quite frankly its on its last legs because it is literally built in its math, to fail.

https://www.lietaer.com/2021/11/do-all-fiat-currencies-fail/

Do All Fiat Currencies Fail?

Since the beginning of time, fiat currency has dominated the world, but every fiat currency that has existed in history has failed. fiat currency study, 775 fiat currencies have an average life expectancy of 27 years, with some taking a month to crash and others surviving for centuries.




A Currency’s value is the value of all the things denominated in that currency. What is denominated in Bitcoin? Nothing. Crypto is the ultimate fiat currency because it has nothing of actual value supporting it


--------------------
NotSheekle said
“if I believed she was 16 I would become unattracted to her”


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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27774989 - 05/13/22 02:22 AM (1 year, 8 months ago)

Nothing of value supports any money on the Earth except a couple countries that the united states hates.


--------------------
Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.

And I am mentally unstable.


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InvisibleAsante
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Fiery]
    #27774992 - 05/13/22 02:23 AM (1 year, 8 months ago)

Quote:

Fiery said:
If you don't know what's going on, it's pure mayhem and bloodshed in the crypto world. Major ones like BItcoin are down more than 50% from highs, and even one called LUNA is down 100% to catastrophic losses. I even heard mention of people harming themselves because they lost it all.






Meanwhile, the PAXG that I recommended is doing completely fine amidst this mayhem because it's on the Gold Standard unlike crypto and fiat.

Are we learning yet?

Tokenized gold is still tokenized, but as long as its integrity is intact, its value represents actual gold in the Brinks vault in London.




--------------------
Omnicyclion.org
higher knowledge starts here


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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27774993 - 05/13/22 02:24 AM (1 year, 8 months ago)

John F Kennedy tried to get our money to be backed by something again and was assassinated and then his VP when he became president repealed it.

Anyone that has ever tried to get in the way of the federal reserve and their fiat system has died.

Oh who made bitcoin? oh no one knows cause hes dead.


--------------------
Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.

And I am mentally unstable.


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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: Asante]
    #27774994 - 05/13/22 02:25 AM (1 year, 8 months ago)

Quote:

Asante said:
Quote:

Fiery said:
If you don't know what's going on, it's pure mayhem and bloodshed in the crypto world. Major ones like BItcoin are down more than 50% from highs, and even one called LUNA is down 100% to catastrophic losses. I even heard mention of people harming themselves because they lost it all.






Meanwhile, the PAXG that I recommended is doing completely fine amidst this mayhem because it's on the Gold Standard unlike crypto and fiat.

Are we learning yet?

Tokenized gold is still tokenized, but as long as its integrity is intact, its value represents actual gold in the Brinks vault in London.







Koods will just tell you its Fraud and that the gold doesn't exist.


--------------------
Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.

And I am mentally unstable.


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InvisibleAsante
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27774995 - 05/13/22 02:25 AM (1 year, 8 months ago)

Quote:

budmanman said:

.





Right now, its not a grocery cart but an entry level Mercedes :grin:


--------------------
Omnicyclion.org
higher knowledge starts here


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Offlinekoods
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27774999 - 05/13/22 02:33 AM (1 year, 8 months ago)

Quote:

budmanman said:
Nothing of value supports any money on the Earth except a couple countries that the united states hates.




What?


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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: koods]
    #27775000 - 05/13/22 02:34 AM (1 year, 8 months ago)

In your mind, what backs the United States Dollar?


--------------------
Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.

And I am mentally unstable.


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Offlinekoods
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27775012 - 05/13/22 02:52 AM (1 year, 8 months ago)

The value of all the things bought and sold in dollars. And don’t fool yourselfx when you buy drugs or whatever using crypto, you’re buying and selling those things with real money. Those products are denominated in real currency and the amount of crypto you pay depends on the value of that crypto in a real currency.

If Justin bebiers house was denominated in BTC then it would cost twice as much now as it did six months ago. The US dollar hasn’t seen that kind of inflation since the civil war


--------------------
NotSheekle said
“if I believed she was 16 I would become unattracted to her”


Edited by koods (05/13/22 02:56 AM)


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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: koods]
    #27775021 - 05/13/22 03:08 AM (1 year, 8 months ago)

Tesla stock just lost 50% of its value in 6 Months and its an established business.

Crypto is currently owned by about 1% of the world, its new, its volatile, its got a lot of haters despite that is on a freight train of success.

Bitcoins value is all the things bought and sold in bitcoin to the current tune of 7% of the world economy, with only 1% of the worlds human beings having it.

Are you catching on?


--------------------
Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.

And I am mentally unstable.


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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27775027 - 05/13/22 03:16 AM (1 year, 8 months ago)



You see this little tiny blip there I got the arrow pointing at? That is the MT Gox Incident, at the time MT Gox was the largest exchange, based out of Japan and the owner well he basically stole all the money, he got caught he went to prison and to this day the situation has not been fully resolved.

Bitcoin lost 95% of its value, everyone said it was dead.

It went form 1450 dollars to 80 dollars in what 2 months? as the MT Gox incident unfolded.

Over the course of time as it gets more and more adopted it becomes more and more stable, each crash smaller than the last.

More and more companies are starting to accept it, though BTC is a shit currency, sure it is about 5000x faster than a bank but that is still to slow to be used as a real world day to day currency and if everyone was using it, it's network would clog and sure we could use the lightning network and other solutions but then it just becomes more and more centralized and less of the peoples money.

But BTC if people would accept a level of centralization which they probably would cause most people don't understand how it works at all, could become the new world currency.

I mean a limited supply currency actually has the potential to create a more fair and balanced economy because there is an actual reason to hold onto money because there isn't an authority that can create an infinite amount of it.

Also chase bank has been caught over 7 times lying about how much money they have and just typing it into their computers and nothing even happens to them so thats just how bad the system is currently.

It is all controlled over the potential for the fed to audit them and find out they're just typing shit into their computers without asking the fed first.

It is a bad system.


--------------------
Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.

And I am mentally unstable.


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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27775029 - 05/13/22 03:21 AM (1 year, 8 months ago)

Man its wild we just accrued like 2 Trump Southern border walls in interest since I posted the US debt clock a little while ago.


--------------------
Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.

And I am mentally unstable.


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Offlinekoods
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27775030 - 05/13/22 03:28 AM (1 year, 8 months ago)

Quote:

budmanman said:
Tesla stock just lost 50% of its value in 6 Months and its an established business.

Crypto is currently owned by about 1% of the world, its new, its volatile, its got a lot of haters despite that is on a freight train of success.

Bitcoins value is all the things bought and sold in bitcoin to the current tune of 7% of the world economy, with only 1% of the worlds human beings having it.

Are you catching on?




And just like Tesla stock, cryptos are not currencies


--------------------
NotSheekle said
“if I believed she was 16 I would become unattracted to her”


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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: koods]
    #27775033 - 05/13/22 03:32 AM (1 year, 8 months ago)

Could have fooled me, Russia is skirting all our financial restrictions on them with Crypto.


--------------------
Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.

And I am mentally unstable.


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Offlinekoods
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27775036 - 05/13/22 03:33 AM (1 year, 8 months ago)

Quote:

budmanman said:
Man its wild we just accrued like 2 Trump Southern border walls in interest since I posted the US debt clock a little while ago.




So what? Clearly the US can handle the current amount of debt. It doesn’t seem to have any effect on the economy. Nobody, especially conservatives, seem to have any interest in paying it down. And to be fair, most of the debt accrued in the past decade has been practically interest free.


--------------------
NotSheekle said
“if I believed she was 16 I would become unattracted to her”


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Offlinekoods
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27775037 - 05/13/22 03:34 AM (1 year, 8 months ago)

Quote:

budmanman said:
Could have fooled me, Russia is skirting all our financial restrictions on them with Crypto.




I certainly hope for Russia’s sake they don’t have a lot of their reserves in crypto because this would be a devastating week or two


--------------------
NotSheekle said
“if I believed she was 16 I would become unattracted to her”


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Invisiblebudmanman
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27775039 - 05/13/22 03:36 AM (1 year, 8 months ago)

Oh shit I can go see a movie in the movie theater with bitcoin.

https://www.theverge.com/2021/11/12/22779137/amc-theaters-movie-tickets-cryptocurrency-bitcoin-cash-ethereum-litecoin

Oh shit I can buy a new computer from newegg with bitcoin.

https://promotions.newegg.com/nepro/16-6277/index.html

I can go buy a tesla right now with Dogecoin

The funny dog meme money.

https://www.bbc.com/news/business-60001144#:~:text=Mr%20Musk%2C%20who%20also%20counts,only%20digital%20currency%20Tesla%20accepts.



As of 2021

15,174 businesses worldwide accept bitcoin.

https://www.fundera.com/resources/how-many-businesses-accept-bitcoin

That number was nearly 0 just a couple years ago.


--------------------
Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.

And I am mentally unstable.


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Offlinekoods
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Re: This crypto stuff is CRAZY- Perhaps even criminal [Re: budmanman]
    #27775041 - 05/13/22 03:38 AM (1 year, 8 months ago)

Quote:

budmanman said:


You see this little tiny blip there I got the arrow pointing at? That is the MT Gox Incident, at the time MT Gox was the largest exchange, based out of Japan and the owner well he basically stole all the money, he got caught he went to prison and to this day the situation has not been fully resolved.

Bitcoin lost 95% of its value, everyone said it was dead.

It went form 1450 dollars to 80 dollars in what 2 months? as the MT Gox incident unfolded.

Over the course of time as it gets more and more adopted it becomes more and more stable, each crash smaller than the last.

More and more companies are starting to accept it, though BTC is a shit currency, sure it is about 5000x faster than a bank but that is still to slow to be used as a real world day to day currency and if everyone was using it, it's network would clog and sure we could use the lightning network and other solutions but then it just becomes more and more centralized and less of the peoples money.

But BTC if people would accept a level of centralization which they probably would cause most people don't understand how it works at all, could become the new world currency.

I mean a limited supply currency actually has the potential to create a more fair and balanced economy because there is an actual reason to hold onto money because there isn't an authority that can create an infinite amount of it.

Also chase bank has been caught over 7 times lying about how much money they have and just typing it into their computers and nothing even happens to them so thats just how bad the system is currently.

It is all controlled over the potential for the fed to audit them and find out they're just typing shit into their computers without asking the fed first.

It is a bad system.




Can you post that graph in log? That is a much better way to compare changes over many orders of magnitude. That 95% loss you mention will actually look significant in log


--------------------
NotSheekle said
“if I believed she was 16 I would become unattracted to her”


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