|
I have not paid for anything over $100 in cash in over 2 years, if not longer. All my investments are digital. There is no gold or paper cash backing anything up. My 401K and IRA is all digital. So when you talk about old fashioned topics, that is kind of in the past, IMHO.
My digital bank account could be hacked and wiped if the bad guys so choose, so could yours. I would actually think that a mature crypto-currency would be safer in the long run, but we shall see.
|
|
|
|
|
You might be right that a mature cryptocurrency would be a safe bet but I would give it a decade or at least until it becomes legal tender and accepted everywhere. It's just not there yet. Currently, it's all so overpriced from speculation that you will lose money when all the investors move on to the next big thing and the value drops precipitously. But, then again, that is just my own speculation as well.
if (Object.DividedByZero == true) { Universe.Implode(); }
Meus ratio ex fortis machina. Simplicitatis de formae ac munus. -Foothill, 2016
|
|
|
|
|
I hear you. 
|
|
|
|
|
Okay, let's assume that I have very little faith in the future of my native currency (GBP, 2019, 'nuff said) and that I decide to put all my eggs in the BitCoin basket and hope that said currency will be a going concern for longer than the pound. And let's assume that other people around the world do a similar thing because they don't trust their crappy governments either and that this process happens on a very rapid basis.
Maybe soon, we'll have a world where we'll all still get paid and taxed in pounds, euros, dollars, rubles or whatever but we all buy into pseudo-currencies the minute we get it and lots of legitimate businesses will start taking it and we'll be able to buy everyday stuff along with the cocaine and AK-47s that we'd normally associate with BitCoin. And perhaps, before too long, our employers will be paying us directly in BitCoins and we'll never see a pound note or a dollar bill again. Maybe, at some point, the whole planet is using BitCoin and currency conversion becomes a thing of the past ...
At present, USD is the lingua franca of the currency world - there aren't many places where a dollar bill won't talk but it will talk at very different volumes in different places. Some economies run on cents, some run on astrobucks - buy a bottle of coke in a hundred different countries and chances are, you'll pay a hundred very different prices. Would that be the same with BitCoin or would things reach a flat global rate?
If it's the latter, that's going to be the biggest economic revolution since the first person who pointed at a lump of otherwise useless metal and said "Hey! That's MY shiny thing!"
98.4% of statistics are made up on the spot.
|
|
|
|
|
Casinos are seriously going to love this one currency idea, think of all the FX traders that will have nowhere else to gamble.
PeejayAdams wrote: Would that be the same with BitCoin or would things reach a flat global rate?
Wasn't that supposed to be one of the benefits of the Euro - one currency one price across the entire region and how did that work out.
As noted over 900 of the crypto currencies, what chance is there that they can standardise on one 
Never underestimate the power of human stupidity
RAH
|
|
|
|
|
Mycroft Holmes wrote: As noted over 900 of the crypto currencies, what chance is there that they can standardise on one
Obligatory XKCD: xkcd: Standards
|
|
|
|
|
PeejayAdams wrote: Would that be the same with BitCoin or would things reach a flat global rate?
A flat global rate can only be possible if demand and supply are globally the same. Not even a theoretic economy would do that 
PeejayAdams wrote: If it's the latter, that's going to be the biggest economic revolution since the first person who pointed at a lump of otherwise useless metal and said "Hey! That's MY shiny thing!"
With "useless" you mean a chemical inert metal that does not corrode, and that is not rejected by the human body?
Bastard Programmer from Hell 
If you can't read my code, try converting it here[^]
|
|
|
|
|
To be clear. This is a digital currency.
Something the bankers/governments want.
While it offers anonymity, I understand that ONCE you identify someone, you can find their transactions.
In the UK, you can be jailed for encrypting something and refusing to give the password.
So...
This feels like a BetaTest for the Globalists to have one currency, infinitely divisible.
Centrally Taxed.
And living in a Hurricane State. TOTALLY useless without power. Not completely sure how ZERO internet access affects it.
Just a thought...
|
|
|
|
|
What are crypto currencies used for?
Let's enumerate that:
- speculation
- drug trafficking
- computer crime ("ransom ware")
- terrorism
My point: Let's get rid of them as quickly as possible.
Edit:
I see from the comments that hardly anyone got the message.
Of course, everything can be used for crime, hence that possibility must not be a reason to try to get rid off that item.
I emphasize the fact that the use for criminal purposes by far outnumbers the use for common business - and that's a reason to get rid off cryptocurrencies.
Think of those hackers behind ransom ware: how hard was their business without cryptocurrencies? Of course, it was possible, but can you see the difference?
modified 5-Sep-17 3:17am.
|
|
|
|
|
Same goes for the internet. Get rid of that too?
|
|
|
|
|
I thought quite a few legitimate businesses were starting to take bitcoin.
Never underestimate the power of human stupidity
RAH
|
|
|
|
|
Just had a look at a list of UK businesses accepting BitCoin ^ - it includes the wonderfully named "A2Z School of English" along with the usual purveyors of "legal highs" and stolen goods.
98.4% of statistics are made up on the spot.
|
|
|
|
|
For financial transactions without the overhead of PayPal; even to overseas, without banking-fee's nor any other leeches in between.
The most used currency for crime and terrorism is that worthloss piece of paper they call a "dollar". And yes, the world is getting rid of those, as holding them has proven to be a loosing bet.
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
|
|
|
|
|
Not an entirely true statement at all. The same could be said for plain old cash. I am sure more crimes have been committed with the paper then the digital stuff. Just saying...
|
|
|
|
|
|
My wallet looks like this: [^]
Skipper: We'll fix it.
Alex: Fix it? How you gonna fix this?
Skipper: Grit, spit and a whole lotta duct tape.
|
|
|
|
|
Really?? At least you get money! My looks like [^]
|
|
|
|
|
That's because you aimed too high! I didn't looked for paper from the beginning... 
Skipper: We'll fix it.
Alex: Fix it? How you gonna fix this?
Skipper: Grit, spit and a whole lotta duct tape.
|
|
|
|
|
Are those grush (one-agarot) coins I see in there? You weren't kidding when you said you barely handle the OLD style currency.
| Ravings en masse^ |
|---|
| "The difference between genius and stupidity is that genius has its limits." - Albert Einstein | | "If you are searching for perfection in others, then you seek disappointment. If you are seek perfection in yourself, then you will find failure." - Balboos HaGadol Mar 2010 |
|
|
|
|
|
"no"
Perhaps I'll touch it, some day, but for the moment, not yet. 
|
|
|
|
|
Perhaps there is some part of 'no' they did not understand.
The user can't update the up: we update it for them (Choice in the CP poll)
|
|
|
|
|
|
General 
News 
Suggestion 
Question 
Bug 
Answer 
Joke 
Praise 
Rant 
Admin 
Submit an article or tip
