Crypto Currency to replace the Dollar? 1 1

[Jason Abshier]

We’re moving into a new ‘era’ time to raise the grading scale to MS/PF 100 get ready to learn how to grade/collect cryptocurrency. 🤔

[Revenant]

On 10/18/2021 at 6:49 AM, Jason Abshier said:

We’re moving into a new ‘era’ time to raise the grading scale to MS/PF 100 get ready to learn how to grade/collect cryptocurrency. 🤔

You can't have physical flaws on a digital asset, so all Bitcoin would necessarily be "perfect" I'd think.

[Jason Abshier]

Digital grading its missing a tiny digital pixel on the obverse Grade (DMS 99.4) DMS digital mint state 

[Henri Charriere]

On 10/18/2021 at 5:44 AM, Morpheus1967 said:

I dabbled in it for awhile.  Was big on the Cardano train.  I decided enough was enough about the third time I lost 25% of my portfolio just because of some stupid Elon Musk tweet.  And that is not an exaggeration.  It's literally that volatile.  Controlled by the ultra wealthy (Musk, Mark Cuban is a huge Ethereum holder) and the whales who bought in early enough to have amassed obscene amounts of BTC.  That, and the fact that the market NEVER closes was too much stress for me.  It was nothing to go to bed up several thousand dollars, and then wake up in the red less that 6 hours later.  For no reason other than a tweet. 

I wish I could say something, but what?  Then again, there is a sizeable number of people to whom cryptic currency -- the entire mysticism is too attractive to resist.

I wish my [deceased] brother were around to explain this.  I don't believe he ever graduated from school was an accomplished mechanic who could take apart and put together a 1957 Buick Special at age 16 and park substantial funds in funds his own broker advised him adamantly against -- and best of all was a career criminal with no socially-redeeming factors. whatever.  A year older than me, there is no doubt in my mind, having mastered high-stakes game plans at casinos, he would have no problem admitting, "No," to cryptology as one member volunteered early on in this thread was premature at best.  If the CCP offers you a glass of Stolichnaya, courtesy of Comrade Putin at a crypto convention, that's when you ought to be alarmed and think like my dead brother, "I wonder what this guy's angle is?"

[VKurtB]

Crypto is utterly dependent on the “greater fool” theory. What it has going for it is that EVERYTHING digital is awash in excess quantities of fools, both greater and lesser. Anyone remember the first dot-com bubble?

Edited October 18, 2021 by VKurtB

[Henri Charriere]

On 10/18/2021 at 6:26 PM, VKurtB said:

Crypto is utterly dependent on the “greater fool” theory. What it has going for it is that EVERYTHING digital is awash in excess quantities of fools, both greater and lesser. Anyone remember the first dot-com bubble?

I would like to preface my remarks by stating your direct, to-the-point comments are leaving me with very little room to maneuver with diluted foolishness.  Now, as to the second part of your response, as an avid reader, I became aware of the dot.com bubble the way one would become aware Madagascar is losing its forests and the polar bears are losing their ice floes.  Looking at the positive side there are now scores of domains in use: .org, .tech, .edu, .gov, .mil, .intl, even .xxx, and over 300 country code top-level domains, beginning with the U.S. about the time TPGS were conceived.   To me, privately, for fear of being verbally assaulted by the prominent protractors of provenance, the distinction between the two is easy if you are amenable to an alternate viewpoint.

Provenance refers to the "birthplace" of a coin whether it be country or region that then existed.  By my skewed way of thinking, the present classification being used is fine.  The first coins were produced in Lydia (present-day Western Anatolia) in Turkey. Pedigrees are the progeny of the original owners of coins of note, whether plain, mint-marked or bearing a privy. The ultimate fate of that curio, the cryptic crypto, remains to be seen.  I feel there's a lot more to this than meets the eye.

[VKurtB]

On 10/18/2021 at 7:29 PM, Quintus Arrius said:

I would like to preface my remarks by stating your direct, to-the-point comments are leaving me with very little room to maneuver with diluted foolishness.  Now, as to the second part of your response, as an avid reader, I became aware of the dot.com bubble the way one would become aware Madagascar is losing its forests and the polar bears are losing their ice floes.  Looking at the positive side there are now scores of domains in use: .org, .tech, .edu, .gov, .mil, .intl, even .xxx, and over 300 country code top-level domains, beginning with the U.S. about the time TPGS were conceived.   To me, privately, for fear of being verbally assaulted by the prominent protractors of provenance, the distinction between the two is easy if you are amenable to an alternate viewpoint.

Provenance refers to the "birthplace" of a coin whether it be country or region that then existed.  By my skewed way of thinking, the present classification being used is fine.  The first coins were produced in Lydia (present-day Western Anatolia) in Turkey. Pedigrees are the progeny of the original owners of coins of note, whether plain, mint-marked or bearing a privy. The ultimate fate of that curio, the cryptic crypto, remains to be seen.  I feel there's a lot more to this than meets the eye.

Don’t believe it, There’s less. Way less.

[Henri Charriere]

On 10/18/2021 at 10:29 PM, VKurtB said:

Don’t believe it, There’s less. Way less.

If what you say is what you truly believe, you may already be a winner.  On the other hand, I like to get to the bottom of things and unfortunately for me, that's going to involve a lot of footwork. Then again, maybe someone at the NY convention can explain it all to me in language I can understand.

[VKurtB]

On 10/18/2021 at 9:44 PM, Quintus Arrius said:

If what you say is what you truly believe, you may already be a winner.  On the other hand, I like to get to the bottom of things and unfortunately for me, that's going to involve a lot of footwork. Then again, maybe someone at the NY convention can explain it all to me in language I can understand.

There is now an exchange tradable fund for crypto. Even Tom Brady is on the ads. 

[Henri Charriere]

On 10/18/2021 at 10:53 PM, VKurtB said:

There is now an exchange tradable fund for crypto. Even Tom Brady is on the ads. 

When Mark Feld and Just Bob join him, I'm all in.  I seriously doubt the Great Zadok is a risk-taker.  🐓 

[VKurtB]

On 10/18/2021 at 10:04 PM, Quintus Arrius said:

When Mark Feld and Just Bob join him, I'm all in.  I seriously doubt the Great Zadok is a risk-taker.  🐓 

If I were even SLIGHTLY intrigued by crypto, which I am not, I would use this new ETF as the vehicle to take a position. See any investment advisor for the fund’s prospectus.

[Jason Abshier]

Not to get off topic but last week I was at food store for longtime since I’ve seen someone use a checkbook to pay for food not to odd or rare to me I still use checks to pay my bills and mail them out with a stamp! … Few people up in front of me were in their 20’s shaking their heads rolling their eyes at an elderly lady for writing a check out for her food … I just wanted to tap the younger people’s shoulders and say “you know she probably has a better managed bank account with money in it than you’ll ever have!” … I’ve seen these youngsters come up with their Apple watches , IPhones beep beep beep to pay for stuff never ask for a receipt . I’ve been behind few using their credit cards and iPhones to find out they had Non-Sufficient fund ! Talk about an embarrassment in a store 

Edited October 19, 2021 by Jason Abshier

[thebeav]

What a bunch of nonsense.

I can't even get the kid at the deli to figure out a third of a pound of potato salad, and they're going to understand 12 decimal places to pay someone a dollar......It won't happen.......

[Revenant]

On 10/19/2021 at 6:49 AM, thebeav said:

What a bunch of nonsense.

I can't even get the kid at the deli to figure out a third of a pound of potato salad, and they're going to understand 12 decimal places to pay someone a dollar......It won't happen.......

You'd probably see prices in Satoshi, with US$0.01= 16 Satoshi right now, so It'd be a bit like being in Mexico and seeing prices in Pesos, but adding 2 extra zeros

Edited October 19, 2021 by Revenant

[zadok]

On 10/18/2021 at 11:04 PM, Quintus Arrius said:

When Mark Feld and Just Bob join him, I'm all in.  I seriously doubt the Great Zadok is a risk-taker.  🐓 

...i take risks all the time...but not stupid risks, i prefer my tangible assets to be where i can carry them with me when all he.l.l breaks loose ditto my a.m.m.o.....

[zadok]

On 10/19/2021 at 7:49 AM, thebeav said:

What a bunch of nonsense.

I can't even get the kid at the deli to figure out a third of a pound of potato salad, and they're going to understand 12 decimal places to pay someone a dollar......It won't happen.......

...all our next socially engineered educated generation will be able to compute is rounding n even then someone will need to tell them whether its up or down....of course there mite be a movement to counter culture math n then everyone can just guess....

[zadok]

On 10/19/2021 at 8:34 AM, Revenant said:

You'd probably see prices in Satoshi, with US$0.01= 16 Satoshi right now, so It'd be a bit like being in Mexico and seeing prices in Pesos, but adding 2 extra zeros

...whose going tell them which side of the decimal point to add the zeros to?...

[VKurtB]

On 10/19/2021 at 6:41 AM, Jason Abshier said:

Not to get off topic but last week I was at food store for longtime since I’ve seen someone use a checkbook to pay for food not to odd or rare to me I still use checks to pay my bills and mail them out with a stamp! … Few people up in front of me were in their 20’s shaking their heads rolling their eyes at an elderly lady for writing a check out for her food … I just wanted to tap the younger people’s shoulders and say “you know she probably has a better managed bank account with money in it than you’ll ever have!” … I’ve seen these youngsters come up with their Apple watches , IPhones beep beep beep to pay for stuff never ask for a receipt . I’ve been behind few using their credit cards and iPhones to find out they had Non-Sufficient fund ! Talk about an embarrassment in a store 

Those digikiddies are complete m-o-r-o-n-s.

[Henri Charriere]

On 10/19/2021 at 12:50 PM, zadok said:

...whose going tell them which side of the decimal point to add the zeros to?...

Great One: the plural of zero, is "zeroes."

The plural form of potato is "potatoes."

(There is a reason for it, but @Oldhoopster may be watching and the chaperones have indicated my time is up.)                       🐓 

[Henri Charriere]

On 10/19/2021 at 1:44 PM, VKurtB said:

Those digikiddies are complete m-o-r-o-n-s.

Respectfully, the very same could have been said about investors in silver -- before the fictional  Dukes Brothers pulled the plug on them in the 1980's.

[Alex in PA.]

On 10/19/2021 at 7:49 AM, thebeav said:

I can't even get the kid at the deli to figure out a third of a pound of potato salad,

How sad but true.  If you hand a youngster a Number 2 Pencil today they stare at you with this blank look.  No more Reading, Writing, Arithmetic for the children today.  Social Studies is the name of the game.

[Alex in PA.]

On 10/19/2021 at 1:44 PM, VKurtB said:

Those digikiddies are complete m-o-r-o-n-s.

But it isn't their fault.  Look how poorly our schools are being run.  Teachers don't educate the children they indoctrinate them.  How is a kid supposed to manage money when he/she has never had Math?

No wonder the younger generations have become dependent on mechanical devices.

Edited October 19, 2021 by Alex in PA.

[VKurtB]

On 10/19/2021 at 1:23 PM, Quintus Arrius said:

Respectfully, the very same could have been said about investors in silver -- before the fictional  Dukes Brothers pulled the plug on them in the 1980's.

I said it about the silver buyers then too.

[VKurtB]

On 10/19/2021 at 1:31 PM, Alex in PA. said:

But it isn't their fault.  Look how poorly our schools are being run.  Teachers don't educate the children they indoctrinate them.  How is a kid supposed to manage money when he/she has never had Math?

No wonder the younger generations have become dependent on mechanical devices.

True, but they tried to indoctrinate MY generation too. Most of my peers sat and took it. I told my teachers they were m-o-r-o-n-s and pushed back so hard they didn’t know what hit them. I ended up a National Merit Scholar.

[zadok]

On 10/19/2021 at 2:28 PM, Alex in PA. said:

How sad but true.  If you hand a youngster a Number 2 Pencil today they stare at you with this blank look.  No more Reading, Writing, Arithmetic for the children today.  Social Studies is the name of the game.

...revisionist social studies....with a heavy reference to the social part verging on socialism ideologies, i guess if it goes far enuf there wont be a need for money or numismatics to try to stay on topic a bit....

[zadok]

On 10/19/2021 at 2:31 PM, Alex in PA. said:

But it isn't their fault.  Look how poorly our schools are being run.  Teachers don't educate the children they indoctrinate them.  How is a kid supposed to manage money when he/she has never had Math?

No wonder the younger generations have become dependent on mechanical devices.

...and of course there mite be a problem finding teachers that r products of the current education system that could even teach math if it were being taught...the boomers mite have to come out of retirement to teach.....

[zadok]

On 10/19/2021 at 2:23 PM, Quintus Arrius said:

Respectfully, the very same could have been said about investors in silver -- before the fictional  Dukes Brothers pulled the plug on them in the 1980's.

...Hunt brothers, real not fictional....me thinks ur rambling into Hazard County.....

[Alex in PA.]

On 10/19/2021 at 2:54 PM, VKurtB said:

True, but they tried to indoctrinate MY generation too.

I went 12 years to a Catholic School here in beautiful, downtown Lock Haven.  We were light years ahead of the Public School.  While the two Public Schools were teaching Math we were doing Algebra, Geometry and Trigonometry.  On the day I graduated I could speak English, Latin, French and Spanish.  When I took the SAT to get into Eastern Oregon University I scored in the upper 1 Percentile of the Nation.  Owe it all to those Nuns.  Those were the days.

Edited October 19, 2021 by Alex in PA.
spelling

[EARLY-COMMEM-HUNTER]

On 10/17/2021 at 11:25 PM, Coinbuf said:

How is that any different from the funds in your checking account?   Every bank relies on electronic devices to access and process deposits and withdrawals.  So if the power grid is knocked out then you will have no way to access your bank accounts or use your debit and credit cards as most do when buying and selling goods.    Sure some people have a few hundred or maybe even a few thousand on hand, but how long will that last if a widespread ransomware attack happens. 

After hurricanes here in Florida there were several times where banks opened up, without power at the branch, and manually distributed cash to customers. 
But yes, ransomware or electronic attack is surely a bigger threat. As I also said, manipulation and hacking is a major concern. 
Ponder this too. Most people where I live know to withdraw a before a hurricane. A lot of cash. From your bank it’s no problem and the value of your dollars will be pretty consistent.  Now let’s say all your dough is in crypto and said crypto is in one of its epic drop cycles. When you convert to cash and pull it out you’ve likely lost value. Of course it depends on when you acquired your crypto but if the swing was wild enough and the timing is poor aren’t you getting the proverbial shaft? 
I’m no crypto expert and I’m also not a fan of the USD which is also essentially worthless and built on faith but at least it offers more stability. 

[VKurtB]

On 10/19/2021 at 2:38 PM, Alex in PA. said:

I went 12 years to a Catholic School here in beautiful, downtown Lock Haven.  We were light years ahead of the Public School.  While the two Public Schools were teaching Math we were doing Algebra, Geometry and Trigonometry.  On the day I graduated I could speak English, Latin, French and Spanish.  When I took the SAT to get into Eastern Oregon University I scored in the upper 1 Percentile of the Nation.  Owe it all to those Nuns.  Those were the days.

Reading High School. Biggest student numbers in the state. Graduating class was over 900. My college class was 245. The college library started as Benjamin Franklin’s personal one. Less than half of incoming freshmen graduate. 

Edited October 19, 2021 by VKurtB