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Yes but the fees to trade in these coins are magnitudes greater than Paypal. It is a horribly inefficient model of for payment processing. People are not buying coins as money, they are speculating. They all can't be right.  Quoted:
Quoted: Yep. How many times previously have we heard people bitching about having to use paypal, an anti-gun company, to pay for things over the internet. Now you can settle your transactions without having to give profits to an anti-gun company, yet you still get people knowingly acting ingorant and claiming they don't understand what the value of that is. |
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Quoted: Yep. How many times previously have we heard people bitching about having to use paypal, an anti-gun company, to pay for things over the internet. Now you can settle your transactions without having to give profits to an anti-gun company, yet you still get people knowingly acting ingorant and claiming they don't understand what the value of that is. I will say from observations, except for a select few, the crypto mania of the last year on here very much matches the gold bugs of 2009-2011. |
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Quoted: Lots of people have made money on cyrpto at much higher returns than traditional investments. It's too new of a thing to say it's a sound investment. It can be, or it can all vaporize very abruptly. No. One. Knows. Not Warren, not me, not you. |
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No they are not, at least most aren't. BTC yes and why I think it won be the king. However, most are a percent of 1 percent which is way less than PayPal. When atomic swaps hit it gets even better. https://bitinfocharts.com/comparison/bitcoin-transactionfees.html |
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What you should be waiting to buy in are AWSCoins or GoogCoins - because those really complex mathematics equations will actually be mass distributed secure cloud processing - and backed by the assets of a full scale corporation. |
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LOL - I guess if the dollar value is high enough. The current bitcoin avg processing fee is $31.42. That is one expensive hamburger if you had to pay that fee. https://bitinfocharts.com/comparison/bitcoin-transactionfees.html Quoted:
Quoted:
No they are not, at least most aren't. BTC yes and why I think it won be the king. However, most are a percent of 1 percent which is way less than PayPal. When atomic swaps hit it gets even better. https://bitinfocharts.com/comparison/bitcoin-transactionfees.html |
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Yep. How many times previously have we heard people bitching about having to use paypal, an anti-gun company, to pay for things over the internet. Now you can settle your transactions without having to give profits to an anti-gun company, yet you still get people knowingly acting ingorant and claiming they don't understand what the value of that is. Quoted:
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Cryptocurrency... Yet another topic where the people who know the least about it are the most vocal. "I don't know shit about it but it can't be good..." I can send a huge amount or a tiny amount of currency nearly instantly to someone in another country without a bank involved on either end and the fee I pay is miniscule compared to a traditional currency transaction. If you can't see the value in that, you need to wake the fuck up. |
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If you think people are making small purchases with BTC, you don't know enough about crypto to comment. |
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Newsweek 1995
I wonder how many people took this as the truth and didn’t invest. “Then there's cyberbusiness. We're promised instant catalog shopping—just point and click for great deals. We'll order airline tickets over the network, make restaurant reservations and negotiate sales contracts. Stores will become obselete. So how come my local mall does more business in an afternoon than the entire Internet handles in a month? ” It is funny how the author nailed what the internet needed to succeed. Search Engines. He even rips guys from MIT about newspapers online. |
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Quoted:
and they'll probably go up in value, as well as have more stability than BTC/TRX/LC/etc. Crypto is volatile. ETA: and I don't think the smart money denies "that's where this is headed" Quoted:
Quoted: Those coins are going to be expensive as hell day 1. Crypto is volatile. ETA: and I don't think the smart money denies "that's where this is headed" Its just not on exchanges. |
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Quoted:
Yes but the fees to trade in these coins are magnitudes greater than Paypal. It is a horribly inefficient model for payment processing. People are not buying coins as money, they are speculating. They all can't be right. Quoted:
Quoted: Yep. How many times previously have we heard people bitching about having to use paypal, an anti-gun company, to pay for things over the internet. Now you can settle your transactions without having to give profits to an anti-gun company, yet you still get people knowingly acting ingorant and claiming they don't understand what the value of that is. |
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LOL - So your assertion is that BTC will not displace the current payment processors like Paypal? Or do you believe BTC will be treated like gold, and the alt coins like silver? Quoted:
Quoted:
If you think people are making small purchases with BTC, you don't know enough about crypto to comment. Even if youre not investing you should familarize yourself with some of the user facing software. And who knows, you may be ready when opportunity strikes. |
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How do you combat fraud, do a chargeback, file a dispute and get reimbursed? Unless there are those kind of protections in place, cryptocurrency will never gain much traction for widespread e-commerce. It's basically the same reason people don't send cash through the mail for purchases, once it leaves your hand it's gone with no recourse. If I bought something in the EE and the seller wanted me to send them $500 in cash through the mail I would say hell no, isn't that essentially what you are doing when you pay someone for something with a cryptocurrency? The other reason it won't be used widely is it is not considered a currency by the IRS. When I exchange dollars for a good or service I don't have to report the dollar's exchange rate to the IRS to calculate capitol gains/losses. When you trade a cryptocurrency for something/anything you are supposed to record the fair market value on the day of that transaction so it can be compared to the price on the day that particular crypto was acquired in order to calculate gains/losses to report. Sounds like an accounting nightmare for the average person. Wait until the government starts regulating and attempting to track transactions. They aren't just going to let an untraceable means of moving and holding wealth muscle in on all their action and undermine the present system and their national currencies/tax collection. In the meantime, good luck, and I hope some of you all make some money and sell high. |
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LOL - I guess if the dollar value is high enough. The current bitcoin avg processing fee is $31.42. That is one expensive hamburger if you had to pay that fee. https://bitinfocharts.com/comparison/bitcoin-transactionfees.html Quoted:
Quoted:
No they are not, at least most aren't. BTC yes and why I think it won be the king. However, most are a percent of 1 percent which is way less than PayPal. When atomic swaps hit it gets even better. https://bitinfocharts.com/comparison/bitcoin-transactionfees.html |
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It boils down to this... Who the fuck are you to tell me what to do with my money? If I want to throw 10k on a gamble that might disappear tomorrow, that's my business. Its a bubble, its a scam, its the new best thing, it will change the world. All of that is fine. I can afford to throw away money if I want to. Threads like these stink of poor people wishing they had disposable income to play with. |
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Isn't he famous for this? He knows his opinion will shift markets and has been known to buy the dips he creates. Quoted:
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I guess that means he's finally about to buy in. |
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Cryptocurrency... Yet another topic where the people who know the least about it are the most vocal. "I don't know shit about it but it can't be good..." I can send a huge amount or a tiny amount of currency nearly instantly to someone in another country without a bank involved on either end and the fee I pay is miniscule compared to a traditional currency transaction. If you can't see the value in that, you need to wake the fuck up. What do people compare the value of those numbers too? USD Crypto isn’t stable. We already have a stable “crypto”... USD! It is all numbers in a computer already. Correct me if I’m wrong... |
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I would wager to guess he is invested in crypto currencies heavily. I would also wager that he is seeing them nearing the top of their climb before at least a major correction, and sees this as a time to start shorting them. He's got tons of connections and tons of power through them to put pressures on crypto currencies by way of policy changes at financial institutions and in government across the globe to pinch the currencies enough to cause a crisis and a crash. He'll get back in at the bottom and ride them back up as they overcome the obstacles place around them. He's caused entire sectors of the market to rise or fall by his predictions and comments, because he has enough capital invested to do it. The truly wealthy like him don't follow the market, they move it. |
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Quoted:
How do you combat fraud, do a chargeback, file a dispute and get reimbursed? Unless there are those kind of protections in place, cryptocurrency will never gain much traction for widespread e-commerce. It's basically the same reason people don't send cash through the mail for purchases, once it leaves your hand it's gone with no recourse. If I bought something in the EE and the seller wanted me to send them $500 in cash through the mail I would say hell no, isn't that essentially what you are doing when you pay someone for something with a cryptocurrency? The other reason it won't be used widely is it is not considered a currency by the IRS. When I exchange dollars for a good or service I don't have to report the dollar's exchange rate to the IRS to calculate capitol gains/losses. When you trade a cryptocurrency for something/anything you are supposed to record the fair market value on the day of that transaction so it can be compared to the price on the day that particular crypto was acquired in order to calculate gains/losses to report. Sounds like an accounting nightmare for the average person. Wait until the government starts regulating and attempting to track transactions. They aren't just going to let an untraceable means of moving and holding wealth muscle in on all their action and undermine the present system and their national currencies/tax collection. In the meantime, good luck, and I hope some of you all make some money and sell high. |
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Lol. And then the next day that huge amount is worth 50% less than it was yesterday. That’d be horrible... What do people compare the value of those numbers too? USD Crypto isn’t stable. We already have a stable “crypto”... USD! It is all numbers in a computer already. Correct me if I’m wrong... Quoted:
Quoted:
Cryptocurrency... Yet another topic where the people who know the least about it are the most vocal. "I don't know shit about it but it can't be good..." I can send a huge amount or a tiny amount of currency nearly instantly to someone in another country without a bank involved on either end and the fee I pay is miniscule compared to a traditional currency transaction. If you can't see the value in that, you need to wake the fuck up. What do people compare the value of those numbers too? USD Crypto isn’t stable. We already have a stable “crypto”... USD! It is all numbers in a computer already. Correct me if I’m wrong... |
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Buffet isn't a government official. His job is to make his investors money. He did that better than anyone. He can vote for who he likes. So can you. I've talked to old retired couples that he made wealthy. I respect that. I don't understand his (or anyone's) support for "You didn't build that" Obama. He'll come around to Trump. Quoted:
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kind of off the OP's topic but ....... Fuck Warren Buffett Why you hate capitalism? https://news.vice.com/article/warren-buffett-really-likes-oil-trains-despite-the-explosions
Buffet isn't a government official. His job is to make his investors money. He did that better than anyone. He can vote for who he likes. So can you. I've talked to old retired couples that he made wealthy. I respect that. I don't understand his (or anyone's) support for "You didn't build that" Obama. He'll come around to Trump. |
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Quoted: Lol. And then the next day that huge amount is worth 50% less than it was yesterday. That’d be horrible... What do people compare the value of those numbers too? USD Crypto isn’t stable. We already have a stable “crypto”... USD! It is all numbers in a computer already. Correct me if I’m wrong... |
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Nobody knows. But the underlying technology is something that we, as conservatives in 2018, should embrace. Even if youre not investing you should familarize yourself with some of the user facing software. And who knows, you may be ready when opportunity strikes. Quoted:
Quoted:
Quoted:
If you think people are making small purchases with BTC, you don't know enough about crypto to comment. Even if youre not investing you should familarize yourself with some of the user facing software. And who knows, you may be ready when opportunity strikes. |
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Quoted:
It boils down to this... Who the fuck are you to tell me what to do with my money? If I want to throw 10k on a gamble that might disappear tomorrow, that's my business. Its a bubble, its a scam, its the new best thing, it will change the world. All of that is fine. I can afford to throw away money if I want to. Threads like these stink of poor people wishing they had disposable income to play with. There is only one way I would have liked to get into the coin nonsense and it is long since passed. Getting in for virtually free with maybe 1-3k total invested, be it early days paying for mining and electricity or simply buying the shit out of it in it's infancy would have been the only way I would have been comfortable with it. But my luck I would be the guy with a FUBAR or trashed computer holding those coins and pulling my hair out trying to get at them. |
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Quicker and cheaper than what? Handing over some paper or writing a check or swiping a card? Seriously, what's the benefit of no bank account? Are people looking to hide their millions? I've never been charged for purchases on my credit card that I didn't make. |
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Here's the .gov/banker's point of view about cryptocurrency:
Cryptocurrency is evil because it isn't controlled by the bankers. Cryptocurrency is evil because every bit of it is fully documented and trackable via the blockchain, which is a highly redundant ledger of all transactions. Cryptocurrency is evil because the blockchain's architecture makes it all but completely impossible to play games with the currency supply. Counterfeiting cryptocurrency is basically impossible since the blockchain architecture validates every coin. Our currency is "backed by the full faith of our government", but well, that hardly impresses me. That faith and two bucks will get me lousy coffee at Starfucks. Those who fear cryptocurrency most are those who I most want to see living in fear. |
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Quoted:
It boils down to this... Who the fuck are you to tell me what to do with my money? If I want to throw 10k on a gamble that might disappear tomorrow, that's my business. Its a bubble, its a scam, its the new best thing, it will change the world. All of that is fine. I can afford to throw away money if I want to. Threads like these stink of poor people wishing they had disposable income to play with.  I'm impressed with the gains some of the day trading folks have pulled off though, some are working the volatility well. |
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Quoted:
I would wager to guess he is invested in crypto currencies heavily. I would also wager that he is seeing them nearing the top of their climb before at least a major correction, and sees this as a time to start shorting them. He's got tons of connections and tons of power through them to put pressures on crypto currencies by way of policy changes at financial institutions and in government across the globe to pinch the currencies enough to cause a crisis and a crash. He'll get back in at the bottom and ride them back up as they overcome the obstacles place around them. He's caused entire sectors of the market to rise or fall by his predictions and comments, because he has enough capital invested to do it. The truly wealthy like him don't follow the market, they move it. |
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I have around $300 "invested" in some alt coins. It's down huge from last week, but still up 300% plus from when I bought in three weeks ago. It's play money, and I wouldn't put anything but play money into it. If it grows 100% per year in the short term, I'll be happy. I'm not in the crowd that thinks a few hundred bucks will buy a Lamborghini or a house in a year. Better than lottery tickets. . . |
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You don't need to know a damn thing about tech to know a classic bubble when you see it. Quoted:
Quoted:
Yes, let the 90 yr old guy inform me on cutting edge technology. |
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Bullshit. Financial markets require high speed execution. Quoted:
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Blockchain tech is the future of the financial markets. As long as the initial tx reliably records price and/or time it shouldn't be an issue. |
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Quoted: Yep. How many times previously have we heard people bitching about having to use paypal, an anti-gun company, to pay for things over the internet. Now you can settle your transactions without having to give profits to an anti-gun company, yet you still get people knowingly acting ingorant and claiming they don't understand what the value of that is. |
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Lol, these threads exemplify what I love most about Arfcom. It’s a place where a below average joe ditch digger has no qualms about getting online and claiming to know more about investing than Warren Buffett, who is arguably one of the most successful investors of all time (and actually believes this to be true). Hours of entertainment to be had
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Lol, this thread exemplifies what I love most about Arfcom. It’s a place where a below average joe ditch digger has no qualms about getting online and claiming to know more about investing than Warren Buffett, who is arguably one of the most successful investors of all time (and actually believes this to be true). Hours of entertainment to be had |
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Quoted: Not really. Iirc, it takes a few days for trades to settle. Most brokers will penalize you if you trade your available funds too soon and too often. As long as the initial tx reliably records price and/or time it shouldn't be an issue. EDIT: Here is the stated goal of the exchanges in regards to experimenting with blockchain. "The potential to enable stock exchanges to significantly reduce the cost, complexity, and increase the speed of trading and settlement processes in a secure manner." In truth, all of their manual settlement procedures and inefficiencies could have been automated a long time ago. A distributed, immutable ledger is not required to achieve their goals. |
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Quoted:
He states right in the article that he doesn't know what he's talking about but offers an opinion anyway. Quoted:
Quoted:
Lol, this thread exemplifies what I love most about Arfcom. It’s a place where a below average joe ditch digger has no qualms about getting online and claiming to know more about investing than Warren Buffett, who is arguably one of the most successful investors of all time (and actually believes this to be true). Hours of entertainment to be had |
