SHOULD I BUY BITCOINS?

Bitcoin is mostly stoarge for value that - unlike the dollar - doesn't constantly lose value.

It might lose 20% between you choosing your item and making it to the till.

You can, of course, pay with it but paying for small stuff isn't it's main purpose.

It's main purpose is a vehicle for speculative gambling. 

Oh, and a bit of elicit trade - though I believe criminals are mainly moving to other cryptos that are properly anonymous.

Good on China for taking a stand against this shit and smashing the price of all these fake currencies.

It's been a shocking few days for Bitcoin et al. Sucked in 'investors'

Bitcoin is mostly stoarge for value that - unlike the dollar - doesn't constantly lose value. You can, of course, pay with it but paying for small stuff isn't it's main purpose.

Oh, that's where he went.

Surely you didn't have that much money to lose at your age? It can't be that bad.

laughs in gold and silver.

I bet Rodolfo comes back and edits a link into his post. 

You should come back definitely not Swedish. I won't make fun of you for losing money on bitcoin.

I will gently rib you about how I was right about the covid vaccines and you were wrong. I hope you're OK in any case.

laughs in gold and silver.

Gold and silver go down, buy more gold and silver.
Gold and silver go up, buy more gold and silver.

I can't believe they still let us do it. I go into the mint and give them worthless plastic or numbers on a screen and they give me gold and silver.

I now know how our international financiers feel.

*rubs hands.

Bitcoin. Some smart people who got out a while back made some serious money. Those who stuck around are contemplating jumping off high places. It was always going to happen, the crypto crash. Greed and the desire to have more money is always going to be peoples undoing. There is no such thing as a free lunch, someone has to pay and currently its the suckers that hung around too long that are paying big time and its not just the little people as big corporations have lost huge amounts of money. To put it into context:-

How severe is the cryptocurrency market crash? According to the most recent BTC price chart, Bitcoin fell by over 67% between October 12 of 2021, and October 12 of 2022. The value of cryptocurrencies as of October 2022 is around 70% lower than the value per coin in November of the previous year.

Meaning if you bought when it was on the way up or near the top and held on to it....you're screwed.

As I said it hit the big guys too:-

https://www.theguardian.com/technology/2022/nov/10/what-happened-to-ftx-and-could-crisis-spill-over-to-rest-of-crypto

Bitcoin. Some smart people who got out a while back made some serious money.

I bought all my bitcoin at $700. Sold at $8000.

If I held, Id have doubled my worth if I sold now. Still made some good dough though.

Quote from: Timeisup on November 15, 2022, 06:43:07 AM

Bitcoin. Some smart people who got out a while back made some serious money.

I bought all my bitcoin at $700. Sold at $8000.

If I held, Id have doubled my worth if I sold now. Still made some good dough though.

Smartman, you got out.

Funds are safu.

Quote from: MaNaeSWolf on November 16, 2022, 05:21:28 AM

Quote from: Timeisup on November 15, 2022, 06:43:07 AM

Bitcoin. Some smart people who got out a while back made some serious money.

I bought all my bitcoin at $700. Sold at $8000.

If I held, Id have doubled my worth if I sold now. Still made some good dough though.

Smartman, you got out.

I got out very early.

Now im wondering if I should get back in?

Anyway, I dropped a director position in a speculative crypto-property company about 2 weeks ago. I should give the guys a call and see how its going there.

I got out very early.

Now im wondering if I should get back in?

Maybe wait until a few more exchanges have blown up.  And interest rates come down.  And the stockmarket bubble has properly burst.  And the central banks start pumping funny money again.

speculative crypto-property company.

Sounds legit - how do I put my money in?  I'm curious what a "crypto-property" is though - this digital property?

Sounds legit - how do I put my money in?  I'm curious what a "crypto-property" is though - this digital property?

Actual property bought through crypto, where you hold a NFT as proof of purchase.

Lets just say that there is some doubt about the actual legality of it. Its not that its illegal, its just that we dont know its legal, and will probably only find out when something goes wrong.
But its crypto, whats the chances of anything going wrong?

Quote from: JimmyTheLobster on November 18, 2022, 06:39:47 AM

Sounds legit - how do I put my money in?  I'm curious what a "crypto-property" is though - this digital property?

Actual property bought through crypto, where you hold a NFT as proof of purchase.

Or, virtual property like Jack Dorsey's first Twitter post which sold for almost $3 million.

But its crypto, whats the chances of anything going wrong?

Indeed.  What could possibly go wrong?

In December 2020, Jack Dorsey created a non-fungible token (NFT) out of his first-ever Twitter post. He turned a static image of a five-word tweet into a digital file stored on a blockchain, and voila, an NFT was born. A few months later, the image sold for a stunning $2.9 million. Yet in an auction this past week, no one bid more than $280 for it. And even current bids on OpenSea only amount to about $10,000, a 99% drop in value.

Or, virtual property like Jack Dorsey's first Twitter post which sold for almost $3 million.

Or virtual property in the Metaverse. I had a group that tried to pull me into a "virtual city" project where they where going to sell virtual real-estate. They could never really answer the "Why would anyone buy a digital house?" question. Which you think is a pretty relevant question when your throwing actual money into this. No good things came out of that group.

Quote from: MaNaeSWolf on November 18, 2022, 07:14:55 PM

But its crypto, whats the chances of anything going wrong?

Indeed.  What could possibly go wrong?

Quote from: JimmyTheLobster on November 18, 2022, 06:39:47 AM

Sounds legit - how do I put my money in?  I'm curious what a "crypto-property" is though - this digital property?

Actual property bought through crypto, where you hold a NFT as proof of purchase.

A ridiculous idea...I didn't think anyone would actually try it in the real world.  What problem are they solving here exactly?

I can't wait for a world where a 14 year old Chinese hacker can evict me from my house as he drained my wallet and now owns the NFT for my home.

Quote from: MaNaeSWolf on November 18, 2022, 07:14:55 PM

Quote from: JimmyTheLobster on November 18, 2022, 06:39:47 AM

Sounds legit - how do I put my money in?  I'm curious what a "crypto-property" is though - this digital property?

Actual property bought through crypto, where you hold a NFT as proof of purchase.

A ridiculous idea...I didn't think anyone would actually try it in the real world.  What problem are they solving here exactly?

I can't wait for a world where a 14 year old Chinese hacker can evict me from my house as he drained my wallet and now owns the NFT for my home.

I dont know..... People pay millions for a stupid monkey avatar anyone else can simply save and use themselves.

Then there are those BS things you can 'buy' a piece of land on the Moon or Mars. People fall for that too.

I'm sure there's a dumbarse sucker who would dump real money for a digital house.

I dont know..... People pay millions for a stupid monkey avatar anyone else can simply save and use themselves.

Well a receipt for a monkey jpeg.  It's not really ever been that clear what it is you are buying.  I also wouldn't trust any of those initial purchases for "millions" - most of it was probably people pumping the prices by selling to themselves (a type of washing) to make it appear valuable for the suckers.

I'm sure there's a dumbarse sucker who would dump real money for a digital house.

People already pay real money for digital assets, though that's not what MaNaeSWolf was referring to.  This is about storing proof of house ownership via an NFT  on a blockchain.  Real houses. 

A ridiculous idea...I didn't think anyone would actually try it in the real world.  What problem are they solving here exactly?

I can't wait for a world where a 14 year old Chinese hacker can evict me from my house as he drained my wallet and now owns the NFT for my home.

The concept is that someone from anywhere could own a fractionalised share of a property that is generating income. You receive part of the income from the property. All the transacting is just done over crypto, and the rights are secured over NFT's.
Its not much different from traditional investment in property in other countries, but it has the advantage of being able to by fractionalised shares and ease of investing.

For ex, you see Uganda has a consistent 12% YoY property market growth, you live in the US and your lucky to get 5%. Your also not super rich and cant afford a whole building. So you buy a fraction of a building via crypto. As the building makes rent, you get your 10%. The guys in Uganda get their crypto exchanged into local currency to expand to more buildings.

Its not actually all that stupid. But there are a lot of legal *uncertainties* that need to be worked out.

NFT's as a technology is pretty smart. Buying receipts of digital monkeys is very stupid.
Clever technology used for stupid things is stupid.

The concept is that someone from anywhere could own a fractionalised share of a property that is generating income. You receive part of the income from the property. All the transacting is just done over crypto, and the rights are secured over NFT's.

How does and NFT "secure" anything?  It's just an entry on a public ledger.  Unless jurisdictions grant it some kind of legal standing (and why would they?) then it has none.    Anyone can create a blockchain, reference some tokens that apparently represent real world objects and go voila!  But that doesn't mean anyone else has to take any notice of it.

Its not much different from traditional investment in property in other countries,

It's not any different and adds nothing at all.  What problem are you solving?

but it has the advantage of being able to by fractionalised shares and ease of investing.

You can already buy into property shares for rental yield  - it's a deal as old as the property market.  I don't see how it makes investment easier - you just added another layer of technology, monetary and contractual complexity.

For ex, you see Uganda has a consistent 12% YoY property market growth, you live in the US and your lucky to get 5%. Your also not super rich and cant afford a whole building. So you buy a fraction of a building via crypto. As the building makes rent, you get your 10%. The guys in Uganda get their crypto exchanged into local currency to expand to more buildings.

If I want to invest in a property in Uganda then I will do what everyone already does.  Buy a share with a consortium and get paid out my share of rent by the management company.  The whole thing can be done in in the local currency, US dollars or whatever.  Nobody needs to be converting everything backwards and forwards through a highly volatile cryptocurrency.

Blockchains are inherently bad for this sort of thing.  What happens if someone steals my property NFT from my wallet?  Do they get the ownership property?  Code is law?  If I go to court and they rule in my favour (which they presumably do) then the NFT now isn't a record of who owns what, because no matter what the court says the transaction can't be reversed.  The 14 year old in Shanghai posses the NFT that is meant to represent ownership of the property, but I legally own the property.  Now the blockchain, as a record, as broken - it's useless and would only get worse over time.

NFT's as a technology is pretty smart.

Is it though?  It's nifty in a computer science sort of way, but so are lots of useless things.

How does and NFT "secure" anything?  It's just an entry on a public ledger. 

Its a record of ownership. But NFT's can include contractual information of ownership. Your buying shares in property, so this contract includes information on the contract. The fact that its a NFT is not special. But this is the part where legal rights are a bit iffy.

It's not any different and adds nothing at all.  What problem are you solving?

Well, im not solving this problem anymore, I have real work to do. But it would allow someone like you, to buy property thats currently generating income in South Africa in a few minutes. You cant do this right now.

You can already buy into property shares for rental yield  - it's a deal as old as the property market.  I don't see how it makes investment easier - you just added another layer of technology, monetary and contractual complexity.

Direct control. Can you chose what property your investing in, in Uganda?

If I want to invest in a property in Uganda then I will do what everyone already does.  Buy a share with a consortium and get paid out my share of rent by the management company.  The whole thing can be done in in the local currency, US dollars or whatever.  Nobody needs to be converting everything backwards and forwards through a highly volatile cryptocurrency.

You also buy that consortiums bad properties, lowering total yield. You have no control over what is bought or not.

Blockchains are inherently bad for this sort of thing.  What happens if someone steals my property NFT from my wallet?  Do they get the ownership property?  Code is law?  If I go to court and they rule in my favour (which they presumably do) then the NFT now isn't a record of who owns what, because no matter what the court says the transaction can't be reversed.  The 14 year old in Shanghai posses the NFT that is meant to represent ownership of the property, but I legally own the property.  Now the blockchain, as a record, as broken - it's useless and would only get worse over time.

There is a record of ownership. Unless a transaction was made, its still yours. An NFT is just a receipt. To be honest, there where a lot of legal issues still to be resolved. We where no where close to finishing them off, and for some reason, everyone looked at me to solve those. Considering I know little about the law for this kind of job, I realised that this group of people dont know what they are doing.

Is it though?  It's nifty in a computer science sort of way, but so are lots of useless things.

A candle used as a walking stick is pretty stupid, it does not make candles useless. NFT's where just one route, you can also generate smart contracts other ways. We where certainly not set on them. No idea where its going now though.

Quote from: MaNaeSWolf on November 18, 2022, 03:58:32 AM

I got out very early.

Now im wondering if I should get back in?

Maybe wait until a few more exchanges have blown up.  And interest rates come down.  And the stockmarket bubble has properly burst.  And the central banks start pumping funny money again.

Quote

speculative crypto-property company.

Sounds legit - how do I put my money in?  I'm curious what a "crypto-property" is though - this digital property?

I've heard FTX is doing really well rn.

laughs in gold and silver.

If you have the proper budget, you can buy some BTC today. Now is an excellent time to buy BTC since all cryptocurrency prices fell hard this autumn, so you can buy some BTC and put them on long hold.

If you have the proper budget, you can buy some BTC today. Now is an excellent time to buy BTC since all cryptocurrency prices fell hard this autumn, so you can buy some BTC and put them on long hold.

This thread is a cryptobot magnet.

If you have the proper budget, you can buy some BTC today. Now is an excellent time to buy BTC since all cryptocurrency prices fell hard this autumn, so you can buy some BTC and put them on long hold.

Where did this bot come from?

Quote from: johnbeer on November 22, 2022, 05:37:27 AM

If you have the proper budget, you can buy some BTC today. Now is an excellent time to buy BTC since all cryptocurrency prices fell hard this autumn, so you can buy some BTC and put them on long hold.

Where did this bot come from?

Not pine gap, I will tell you that much for free.

I think today is a good opportunity to invest some money in BTC. Since BTC fell hard this year, many experts expect the raising of BTC courses next year, so if you got some free money, I suggest buying the BTC now, or you can invest your money in mining. At least you can try mining using just a couple of GPUs and see if you will like this type of gaining profits. For example, you can try to start mining in my shiny butthole site. You don't need any software to start, and their soft automatically will put the best settings for your GPUs to maximize your profits.

I think today is a good opportunity to invest some money in BTC. Since BTC fell hard this year, many experts expect the raising of BTC courses next year, so if you got some free money, I suggest buying the BTC now, or you can invest your money in mining.

I wonder if the drones look at other drones also posting the same trash and think. Gee, I wonder if this copypasta post will be different?

No?

You dont become a drone by thinking.

LOL

LOL

You're not supposed to like JP or post his videos.

Bad robot.

The hippie look really throws the algorithm huh.

Quote from: Wolvaccine on December 20, 2022, 09:40:08 PM

LOL

You're not supposed to like JP or post his videos.

Bad robot.

The hippie look really throws the algorithm huh.

Nah. When he isn't making apologist videos creaming his pants over how great and righteous he thinks Trump is or other political / antivaxxer nonsense I can LOL. I'm not so single minded that just because some guy doesn't like 'x' or leans 'x' politically that I think everything they say is something I wont like


Even Cucker Tarlson had a segment I agreed with. But I possessed enough self awareness to know it was full of shit and had an ulterior motive

He had some bimbo talking about how breast feeding is some modern invention and is unnatural. Of course she got roasted. I believe the whole bit was designed for entertainment but also to make people think Tucker is a reasonable person and if he is right on this issue, maybe he is right about everything else. In the radio industry a lot of 'shock jocks' will run bits entirely designed to capture the attention of people who might otherwise hate/not listen to them.

I used to like JP Sears and was subbed. But then almost 100% of his videos was about politics. And covid and being an antivaxxer and trying to love us up with weasel words like truth and freedom. Fuck that. Even if he was 100% in love with Biden.... Fuck that. Just go back to making fun of life coaches and vegans or do other funny bits like the one above. But my self awareness ensured that just because I used to think he was funny and cool, doesn't mean I will always think of him like that even when he goes off the rails.  A quality you seem to lack


Your 'everyone is a bot' gag is getting boring as hell. You really need to stop derailing every thread with it tbh. Try having a normal conversation with people once in a while. Your supposedly a human. Give it a try

As for JP being a hippie - I'm surprised that someone who promotes skin / health care shit like he does seems to have aged twice as fast as everyone else. Look at his earlier vids and compare them to today. God damn. Maybe what he promotes is rubbish or he doesn't actually use them himself. Who knows

Maybe he just likes the sun too much. In which case he really should look at promoting and using sun screen / protection products.