Crypto Currencies

[J_D 2.0]

haha

it's funny people say this.

all these houses are worth zero. "safe as houses" my butt..

Detroit is a cautionary tale on why you should always be aware if there is an industry in the city you buy in that's a major employer.

China is worse, many of these abandoned apartments are owned by property speculators.

Well if your so sure that house values will go to zero I’ll buy your house off you for a dollar then. Can’t go wrong there as you think that the intrinsic value of a house is zero right?

 

[Skydrol]

Well if your so sure that house values will go to zero I’ll buy your house off you for a dollar then. Can’t go wrong there as you think that the intrinsic value of a house is zero right?

The value will be whatever the people on the area are willing to pay for; unless someone from outside of the local economy bring enough capital to outbid the locals.

 

[VYCommodore76]

Well if your so sure that house values will go to zero I’ll buy your house off you for a dollar then. Can’t go wrong there as you think that the intrinsic value of a house is zero right?

Detroit *cough cough* Detroit

 

[J_D 2.0]

Detroit *cough cough* Detroit

Brisbane isn’t Detroit and never will be. For a start Australia doesn’t manufacture anything anymore so we can hardly have an economic downturn due to manufacturing jobs moving!

 

[Skylarking]

Brisbane isn’t Detroit and never will be. For a start Australia doesn’t manufacture anything anymore so we can hardly have an economic downturn due to manufacturing jobs moving!

But if the coffee shop, brothel and porn industry move out, Brisbane will be in trouble… especially once the reef is bleached and tourists can stay home for their ”entertainment”…

 

[Immortality]

Detroit *cough cough* Detroit

What about detroit? It was a city built around one industry, an industry that didn't move with the times and the city died just like the industry that supported it. Most big cities down under don't rely on a single employer/industry so they are a totally different kettle of fish.

 

[Skydrol]

Interesting.

The Ethereum mining community is a diverse bunch, geographically and demographically. There’s a 28-year-old translator in Ukraine, running computing hardware on his balcony to earn cryptocurrency so he can buy clothing and other necessities. In Argentina, a retiree uses her gaming PC to double her monthly pension. A college student in Canada has mined enough to buy a BMW motorcycle and a modified 2006 Dodge Charger SRT—and pay for gas every month.

Bitcoin and Ethereum, the two largest cryptocurrency networks by market value, both record transactions using a process known as proof-of-work, where so-called miners dedicate computer resources toward solving difficult math problems to add blocks of transactions to a public ledger. The miners receive payments in cryptocurrency as a reward. Bitcoin mining, which generally involves specialized gear, has become industrialized; and as mining has moved to data centers, participation by regular people has basically been eliminated. But Ethereum mining relies on the kind of graphics cards found inside typical gaming PCs, and many regular folks can still do it.

Bloomberg - Are you a robot?

 

[Skydrol]

Brisbane isn’t Detroit and never will be. For a start Australia doesn’t manufacture anything anymore so we can hardly have an economic downturn due to manufacturing jobs moving!

So what is it now, mostly Service Industry and Financial Sector?

 

[J_D 2.0]

So what is it now, mostly Service Industry and Financial Sector?

Digging holes in the ground (mining) and selling houses to each other at inflated prices. Australia is actually classified as a developing country now because we don’t have many secondary and tertiary industries.

 

[Skydrol]

The tables are flipping. Bringing the 3rd world nations up and sinking the 1st ones down; rinse and repeat.