Crypto Currencies

[Skydrol]

Currency is not Money at all. For example, what gives the US Dollar its value is the confindence. People are willing to take it and is backed by nothing. Cryptos, falls on the same category. To me are worthless. So 1,000,000 Bitcoins is nothing to me. Anyway, what can I do with them? Also, how many Cryptos are out there? What about Tech itself? What will happen if Bitcoin becomes obsolete?

I believe in Preciuos Metals, the Barbaric Relic that no banker will touch. My "Money" is on Silver, perhaps the most undervalue asset.

I think Cryptos, whatever flavor is in fashion will be the mean of exchange. But PMs, are the one to have as a Store of Value.

Cryptos will bridge the gap on portability, ownership exchange, just like we do with Currencies.. Would you take a Thumb Drive full of Bitcoins or a Bar of Gold? I can see the bar of Gold, a Thumb Drive... how do I know you are bluffing?

Money has the following values...
Portable
Durable
Divisible
Sufficiently rare
Fungible
Easily identifiable
Store of value

 

[Immortality]

But how do you value gold? is loaves of bread, cans of beer?

 

[Skydrol]

That is a good question. We are all used to have a Currency as a gauge. Same with Bitcoin, why is almost $20,000 USDs? Is a speculative asset, nobody knows. You show me Bitcoins and will tell you to take a hike. Show me some Gold/Silver Coins and we will talk.

Right now, is about $1,249.50 Why is that price? Search on Google about the London Gold Fix, is a real thing. Bankers dictate, how much Gold is worth. Also, exchanges using Paper Contracts manipulate the prices of Precious Metals. By making the people believe that has a lesser value they keep the Currency Confidence going.

Bitcoin came in and took off like a wildfire. Yesterday, Sunday 10th, it went to the future markets. Posted a link for the CME. That allows for Paper Contracts dictate its value.

The reason that I placed my money on Silver is because it had a natural Gold to Silver ratio at about 10~15 Right now it has about 70 to 1. Is so "cheap" that is barely cost effective to mine. Is also an Industrial metal. So has a dual purpose as Money and Industrial, good to grab when is on the dip to sell on the tip.

Is not a matter of IF, is a matter of WHEN the economical reset happen, prices will go to the roof and the real Price Discovery will occur.

Real value, is very tricky, is just a matter of wait and see how will plays out.

 

[Zeke Topanaga]

Pray and make it go away?

Pray ? ha ha as to what some claim pray means, but in fact you are some what correct but in truth Pray is not about wishing at all, when it's understood in fact that such strengthens you resolve as it's an act of commitment and understanding of what you are dealing with entirely, not stupid whims like fools believe it is.

People live in delusions about what truly goes on in the world and it's because they have faith in what they believe, but Christ Jesus never said that faith was the key as most, so called churches claim.
Faith is only the substance of.
People believe in things like there preferred political party means X to them, but do they know the true working of it all ? if they did their faith would surely be tested ?
If they understood the whole money games they would freak out, but blind faith is just as good as ignorance and we all know that ignorance is bliss, until the sh-t hits the fan.
We are being sold out down the drain and most don't give a toss, because this is a degenerate generation that is happy to piss their inheritance up against the wall, not to mention all the past people who worked hard to built up this Nation and who died defending it are dismissed as less evolved bumpkins whose opinions mean diddle squat. we are all Marxist now and follow what we have been spun without question, not to mention don't question anything because if you do, you become a threat to such a Satanic mob and they will claim such as an enemy of the State, because they fear the truth, they even make claims that Truth is only what they deem only relative.
Brainwashing tec is peddled everywhere to delude us all 24/7 and anyone who stands up to such trash is cast as a idiot, like D Trump and cast as a no body bumpkin, but if you are in fact just a good for nothing who's done nothing in his life yobbo, like Obama your glorified.
We are being lead down into the same **** as the Nazis and Marxist **** kickers path and you don't even realise it. becoming enslaved to just total BS with all their cunning bag of dirty tricks.
What's going to happen when all the peoples Super goes arse up ? well the Political Correct will have ways of dealing with anyone who steps out of line, just like in Nazi Germany and Communist Nations did, your Free Speech will be gone and you only do as they say.
The Gays think they have had a win, but in fact they will come under the spotlight with a lot of ammunition to condemn them with, when the Marxist get total power they just use tactics as they do to play the great con job and they use all tactics for their own evil ends. Marxist are bastards beyond belief.
The Satanic so called Jews created Marxist and the extreme right wing as a game play to delude the people. they are not Jews at all as Jesus points out the fact, they only claim to be 'Jews' (meaning Gods people). Jesus is the King of Israel, Satanist want a Marxist King ruling over all with a iron rod and that's what's coming in the NWO.
It will all crash and burn but billions of people will be killed, the Greens have openly claimed they want to wipe out 90% of the people on Earth and who questions such a motive ?

 

[Immortality]

Ohh how I enjoy your rants (only occasionally though, can't have to much of a good thing), it's just unfortunate I don't believe a word of this religious clap trap.

 

[Zehq]

That is a good question. We are all used to have a Currency as a gauge. Same with Bitcoin, why is almost $20,000 USDs? Is a speculative asset, nobody knows. You show me Bitcoins and will tell you to take a hike. Show me some Gold/Silver Coins and we will talk.

Right now, is about $1,249.50 Why is that price? Search on Google about the London Gold Fix, is a real thing. Bankers dictate, how much Gold is worth. Also, exchanges using Paper Contracts manipulate the prices of Precious Metals. By making the people believe that has a lesser value they keep the Currency Confidence going.

Bitcoin came in and took off like a wildfire. Yesterday, Sunday 10th, it went to the future markets. Posted a link for the CME. That allows for Paper Contracts dictate its value.

The reason that I placed my money on Silver is because it had a natural Gold to Silver ratio at about 10~15 Right now it has about 70 to 1. Is so "cheap" that is barely cost effective to mine. Is also an Industrial metal. So has a dual purpose as Money and Industrial, good to grab when is on the dip to sell on the tip.

Is not a matter of IF, is a matter of WHEN the economical reset happen, prices will go to the roof and the real Price Discovery will occur.

Real value, is very tricky, is just a matter of wait and see how will plays out.

Like all currencies (money), it's value is only based off an agreed value between multiple parties. Both parties in a trade must come to an agreement on the value of the currency. It's the basic principle of a currency. Precious metals hold their value as they have physical uses and cannot be reproduced (as there is only a finite amount of gold in the world).

The same principles affect crypto currencies. What makes crypto so interesting is that it's more like gold in that it cannot be produced.

 

[Immortality]

Like all currencies (money), it's value is only based off an agreed value between multiple parties. Both parties in a trade must come to an agreement on the value of the currency. It's the basic principle of a currency. Precious metals hold their value as they have physical uses and cannot be reproduced (as there is only a finite amount of gold in the world).

The same principles affect crypto currencies. What makes crypto so interesting is that it's more like gold in that it cannot be produced.

And outside the control of banks/governments.

 

[Zehq]

And outside the control of banks/governments.

Theoretically, yes.

Practically, it can still be abused with large amounts of equity.

 

[Immortality]

Yes as I alluded to in a earlier post. One has to wonder what is driving the huge increase in value of bitcoin currently and who is funding that......

 

[Zehq]

Yes as I alluded to in a earlier post. One has to wonder what is driving the huge increase in value of bitcoin currently and who is funding that......

Ah I must have missed it.

Honestly I think it's pretty simple what's driving Bitcoin's increase. It's everyone.

The hype around Bitcoin is massive and everyone wants a piece of the pie. Everyone thinks it's a get rich quick scheme with no consequences. Once the hype dies down Bitcoin will crash and everyone will bail.