Non Footy Chat Thread II

[Gronk]

yes I realise shib is not somewhere to store value as it currently stands .... bitcoin is obviously the place for that as things currently stand .... I just mean it fits into that pool of "cryptos" which aren't a token for an explicit purpose

Well that's a bit of revisionism there because when bitcoin became a topic, it was marketed as being an essential tool in the future of blockchain transactions and international finance will need these tokens or die. Hence the rally of popularity was promoted that the number of bitcoins was finite.

Now blockchain technology moved ahead without needing bitcoin.

 

[Avenger]

How do you actually get money out of it? Like as in, when you sell it, does the profit come back as money in your bank account?

Yes. Just like when you sell anything. Or you can use it for equity to buy something else.

 

[Avenger]

Well that's a bit of revisionism there because when bitcoin became a topic, it was marketed as being an essential tool in the future of blockchain transactions and international finance will need these tokens or die. Hence the rally of popularity was promoted that the number of bitcoins was finite.

Now blockchain technology moved ahead without needing bitcoin.

Your last sentence is so ignorant and obviously clueless that I’m not even going to respond to it.

 

[Gronk]

Your last sentence is so ignorant and obviously clueless that I’m not even going to respond to it.

OK so how does Lygon work ?

Aussie big bank-backed IBM blockchain platform Lygon mints first guarantee

Blockchain fixes the 'problem of paper' in the bank guarantee process.

www.zdnet.com

Lygon — Home

Lygon is the platform for digital bank guarantees. Our platform utilises Blockchain technology to offer speed, trust and flexibility and makes guarantees simple and effective for all.

www.lygon.io

 

[Bandwagon]

The technology is the blockchain. The main ones are etherium, Bitcoin and Cardano. The blockchain is a peer to peer technology reliant on trust between people. It’s too far gone for someone now to just come up with something better. They have been developing this stuff for several years. Most coins use the etherium network and they serve a purpose. Mostly smart contracts. Not just a monetary transaction. The coin is not really a coin but a percentage or part enabler of the technology.

Bitcoin will be what all coins are pegged to. Like the gold standard in the old days. Because it’s truly finite it cannot be manipulated by not adhering to the rules like just printing more money like what the Yanks are doing.

The Yanks are now in a pickle because they know they can’t pay their loans which is why they are pressuring the senate to raise their debt ceiling. A bit like increasing your home loan from 30 years to 50 years so the repayments reduce. The countries that they owe it are mostly American which creates a knock on affect on their economy. The second most? You guessed it China. Which is why they create havoc in the world so that they can agitate them into not calling for their money.

When the inevitable happens and the market crashes in the old days people would panic and start putting their money in stable stocks like gold. Now they will be putting it in Bitcoin. Which is digital gold. The new store of value.

You missed my point, blockchain isn't tied to coins, it's needed for coins, but coins aren't needed for blockchain.

 

[Bandwagon]

yeah this is a joke thing ...... but its one of the store of value cryptos - as opposed to tokens that have a use

re: store of value .... what the fundamentals behind gold? ..... its rare .... what else?

It’s considered valuable.

...........and has been for millennia. Above all else, it does not degrade, it's as forever as forever is practically needed to be.

 

[Gary Gutful]

OK so how does Lygon work ?

Lots of Italians trying to sell you second rate pasta, junkies wandering the streets. Drab grey buildings, dog shit in the street.

 

[Avenger]

...........and has been for millennia. Above all else, it does not degrade, it's as forever as forever is practically needed to be.

So is bitcoin.

 

[Avenger]

You missed my point, blockchain isn't tied to coins, it's needed for coins, but coins aren't needed for blockchain.

You missed mine. Coins are a token that usually correspond to an enabler for a transaction or smart contract.

 

[Bandwagon]

So is bitcoin.

Hmm is it? I mean we're comparing something that is literally physically forever, vs something that exists only in a ledger. The former is physics, the latter relies on a collective belief. Now I don't discount the power of collective beliefs, but their permanence pales into insignificance as compared to the physical properties of actual matter.

The very same kind of belief is what gives the USD it's status as the worlds reserve currency, yet in your previous post you're quite willing to consider the potential for it's demise ( quite rightly I would say ) What I find a tad inconsistent is not to apply the same reasoning to any other currency, which of course includes digital currency.

You missed mine. Coins are a token that usually correspond to an enabler for a transaction or smart contract.

Yet again, the coin isn't necessary for the technology, it's reliant upon the technology, the tech will have applications far beyond the coin, that's the nature of sound technology.

Transactions or contracts using blockchain tech don't by necessity require a digital currency to support them.

 

[Avenger]

Hmm is it? I mean we're comparing something that is literally physically forever, vs something that exists only in a ledger. The former is physics, the latter relies on a collective belief. Now I don't discount the power of collective beliefs, but their permanence pales into insignificance as compared to the physical properties of actual matter.

The very same kind of belief is what gives the USD it's status as the worlds reserve currency, yet in your previous post you're quite willing to consider the potential for it's demise ( quite rightly I would say ) What I find a tad inconsistent is not to apply the same reasoning to any other currency, which of course includes digital currency.



Yet again, the coin isn't necessary for the technology, it's reliant upon the technology, the tech will have applications far beyond the coin, that's the nature of sound technology.

Transactions or contracts using blockchain tech don't by necessity require a digital currency to support them.

Yes but they require a blockchain that works and is trusted and has proven peer to peer technology. They are not going to use some pissy one created at a moments notice. The newly created shit won't work properly. And every blockchain is intrinsically tied to bitcoin or it will be worth nothing. Nobody will create the technology if it cannot be given a value for its use.

And bitcoin is not a con. It exists and the public blockchain demonstrates that. Every single one is itemised. And we know how much can be mined and approximately when that will be. The year 2140. It's going nowhere and will change the world like I predicted 4 years ago. And unlike the USD it cannot be manipulated by printing more or pegging it to some other non existent standard. It can't be taken down. It's reliant on people giving it value not a government that thinks they can get rid of it by (my favourite one of all time). Regulating it or making it illegal. Give me a f**king break. That one makes me laugh all the time. How do they do that? By shutting down the internet? Who do they go after, Mr Satoshi? No merkin knows who he is. What he is though is a f**king genius the smartest man since Nikola Tesla.

Bitcoin is king and I'm happy to stick my neck out, again. BTC will hit $100k by the end of the year. Maybe even $120K. I'm talking Aussie dollars. Let's see how I go. Lock it in Eddie.

 

[Bandwagon]

Yes but they require a blockchain that works and is trusted and has proven peer to peer technology. They are not going to use some pissy one created at a moments notice. The newly created shit won't work properly. And every blockchain is intrinsically tied to bitcoin or it will be worth nothing. Nobody will create the technology if it cannot be given a value for its use.

And bitcoin is not a con. It exists and the public blockchain demonstrates that. Every single one is itemised. And we know how much can be mined and approximately when that will be. The year 2140. It's going nowhere and will change the world like I predicted 4 years ago. And unlike the USD it cannot be manipulated by printing more or pegging it to some other non existent standard. It can't be taken down. It's reliant on people giving it value not a government that thinks they can get rid of it by (my favourite one of all time). Regulating it or making it illegal. Give me a f**king break. That one makes me laugh all the time. How do they do that? By shutting down the internet? Who do they go after, Mr Satoshi? No merkin knows who he is. What he is though is a f**king genius the smartest man since Nikola Tesla.

Bitcoin is king and I'm happy to stick my neck out, again. BTC will hit $100k by the end of the year. Maybe even $120K. I'm talking Aussie dollars. Let's see how I go. Lock it in Eddie.

I aint claiming it's a con. On the other hand, it's become a medium for speculation, which it seems to me is far from the original intent, which was a decentralized means of transaction.

I don't want to rain on your parade, good luck with it. I just don't believe it makes any sense, and the more it becomes a a speculative financial instrument, the less it makes sense, and the less it has to offer of any real meaning or value.

 

[Avenger]

I aint claiming it's a con. On the other hand, it's become a medium for speculation, which it seems to me is far from the original intent, which was a decentralized means of transaction.

I don't want to rain on your parade, good luck with it. I just don't believe it makes any sense, and the more it becomes a a speculative financial instrument, the less it makes sense, and the less it has to offer of any real meaning or value.

To me taking out a $50 bill that's worth about 2 cents to make and yet we know it's worth $50 and people give you things for it is exactly the same as a digital asset like a bitcoin with unique 26 to 35 alphanumeric characters in length identified on a public ledger that can be converted in an instant to about $76,000 at the time of me posting this.

 

[Bandwagon]

To me taking out a $50 bill that's worth about 2 cents to make and yet we know it's worth $50 and people give you things for it is exactly the same as a digital asset like a bitcoin with unique 26 to 35 alphanumeric characters in length identified on a public ledger that can be converted in an instant to about $76,000 at the time of me posting this.

I guess the difference is when you take out a fifty dollar note, you do so to use it as a medium of exchange, that's it, once you've spent it, it's job is done for you.

When you buy digital coin, you're buying it because you speculate it will rise in value. That's fine, like I said I wish you the best of luck with it. Whether you want to concede that point or not, I think given your post history on the subject invariably goes to promoting the idea of it increasing in value, is evidence enough that your primary interest in it is speculative.

Now I'm very certain that wasn't the intent of the inventor(s) of Bitcoin, at some point in time it went from being a decentralised medium of exchange, which I think is a great concept with a lot of potential, to just another financial instrument in a long list of financial instruments.

Again that's fine, I just don't see the point in pretending elsewise, other than perhaps once you treat it as a financial instrument, and that alone, you've got to question it's value beyond that. So going back to my original post, I just can't get my head around that idea as having any real or fundamental value.

 

[hindy111]

To me taking out a $50 bill that's worth about 2 cents to make and yet we know it's worth $50 and people give you things for it is exactly the same as a digital asset like a bitcoin with unique 26 to 35 alphanumeric characters in length identified on a public ledger that can be converted in an instant to about $76,000 at the time of me posting this.

The difference is for most is the $50 note is stable and we know what it gets us.
If I had a $50 crypto and I was going to purchase something today thats fine. But if I was to use it next week it maybe worth $30 or $100. How do you budget with it? I like the idea of money being subject to regulation cause it makes it less volatile.

I know very little on anything tbh. But I know a few simple rules.

The only way you get anywhere is hard work.

If its to good to be true it probably is.

If something goes up fast it can go down twice as quickly


For me cryptocurrency goes against all my fundamental rules and being fuelled by greedy wealthy people a lot of young millennials who want to play big time investors and desperate people who want to get rich quick.

With China banning crypto I predict it will go tits up.

But I know nothing. This is just my general way of thinking and I am an old dog with old views.

 

[Cloeel]

The difference is for most is the $50 note is stable and we know what it gets us.
If I had a $50 crypto and I was going to purchase something today thats fine. But if I was to use it next week it maybe worth $30 or $100. How do you budget with it? I like the idea of money being subject to regulation cause it makes it less volatile.

I know very little on anything tbh. But I know a few simple rules.

The only way you get anywhere is hard work.

If its to good to be true it probably is.

If something goes up fast it can go down twice as quickly


For me cryptocurrency goes against all my fundamental rules and being fuelled by greedy wealthy people a lot of young millennials who want to play big time investors and desperate people who want to get rich quick.

With China banning crypto I predict it will go tits up.

But I know nothing. This is just my general way of thinking and I am an old dog with old views.

If hard work is the only way to get anywhere; why aren't labourers on 500k per year?

Hard work is pointless unless its pointed in the right direction.

 

[Rocket man]

If hard work is the only way to get anywhere; why aren't labourers on 500k per year?

Hard work is pointless unless its pointed in the right direction.

Maybe a better way to say hard work is
Effort on Effort.

 

[hineyrulz]

If hard work is the only way to get anywhere; why aren't labourers on 500k per year?

Hard work is pointless unless its pointed in the right direction.

Well you can be a hard working total bald plodder and earn even more than that at the Parramatta RL club. Or you can be a total failure at your job and hang around for years on end probably on around 200k as that bald plodders assistant. The Eels really are a nice well meaning charity for the disadvantaged.

 

[hindy111]

If hard work is the only way to get anywhere; why aren't labourers on 500k per year?

Hard work is pointless unless its pointed in the right direction.

Hard work doesn't mean physically exerting. Someone who puts in effort, time and is motivated

 

[Avenger]

FFS, Gentlemen, just buy some of this.​

Buy Shiba Inu Australia - Safe, Easy, Fast | CoinSpot

Buy Shiba Inu (SHIB) with instant delivery and easy verification on CoinSpot - Australia’s most trusted cryptocurrency exchange since 2013.

www.coinspot.com.au

Wait until there is a correction (meaning it goes down by about 20% or more) but get some. You will thank me in a few years time. For the record it's $0.00003985 at the time of writing. Wait until it gets to under $0.00003. Let's quote this post when BA gets boned. I have just over 53 million of them.