https://www.zerohedge.com/crypto/gre...thereums-merge
This caught me off guard. Greenpeace has an opinion about Bitcoin????
Member
https://www.zerohedge.com/crypto/gre...thereums-merge
This caught me off guard. Greenpeace has an opinion about Bitcoin????
“The Federal Reserve is not currently forecasting a recession.”
Fed Chairman Ben Bernanke, January 2008
This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.
Moderator
^^^ yes strange.
Bitcoin dropping fast at the moment. I wonder if it is getting ready for another leg down. And if so, to where?
Replies of "to zero" will win the "lowest point possible" prize
Member
I have always seen the Bitcoin run-up as being on par with the infamous tulip bulb bubble. I have yet to have anyone convince me that it is not possible to dilute the supply "because of how blockchain works". By the same token, I have yet to be convinced of the inherent anonymity of Bitcoin purchases, "because of how Blockchain works".Originally Posted by ynot2k
^^^ yes strange.
Bitcoin dropping fast at the moment. I wonder if it is getting ready for another leg down. And if so, to where?
Replies of "to zero" will win the "lowest point possible" prize
Because of this, I believe that it will eventually return to it's intrinsic value, as all other forms of fiat currency have eventually done throughout history.
It's been said that the intrinsic value of paper money is zero, but that is not quite true. Wiemar marks were used to paper walls, and were burned for heat after their long fall to the point where a wheelbarrow full would not buy a loaf of bread. Their intrinsic value was quite small, but not quite zero.
Unlike paper money, which can be used to stuff a pillow, or be used as scrap paper, the intrinsic value of Bitcoin really is fully zero, until you consider that it requires electricity to move it & that electricity must be paid for. Therefore, it's intrinsic value is perhaps even less than zero.
Is there a prize for floating that concept? The oil futures market went to negative $35 not that long ago, which was previously thought to be impossible. Why should this theoretical mockery of a currency not also go negative?
“The Federal Reserve is not currently forecasting a recession.”
Fed Chairman Ben Bernanke, January 2008
This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.
Member
Jokes & theoretical ramblings aside, Bitcoin moves with the whims of the herd. It can go in either direction quickly. I don't pretend that I can predict where it will be next week. To me it is fully a roll of the dice. The only thing I know for sure is that I don't know, which is why I only window shop for that asset. I never buy. I find it interesting. I don't find it attractive.
Last edited by SilverPalm; 09-15-2022 at 08:08 PM.
“The Federal Reserve is not currently forecasting a recession.”
Fed Chairman Ben Bernanke, January 2008
This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.
Member
So, the left wants unrestricted ability to mint new coins. I am shocked. Why wouldn't they support a block chain coin the has rules that cannot be bent or broken
Now there's no more oak oppression
They passed a noble law
Now the trees are all kept equal
By hatchet, axe and saw.
I will not comply.
The Tea Party... quietly plotting to take over the world,
and leave you the hell alone!
Member
Or a law, a law that says you can't print more paper than you have assets to back. ...or a law that says all money shall be coined from only gold or silver & issued by the Treasury. That should fix everything. We all know that once something is illegal, nobody will do it anymore.
(wow, my sarcasm is hard to contain tonight)
“The Federal Reserve is not currently forecasting a recession.”
Fed Chairman Ben Bernanke, January 2008
This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.
Member
What a fantastic idea. All food, weapons, and valuables should be required to be kept in weatherproof plastic containers in front of your residence & they should be secured with TSA approved locks that the government master keys all fit. That idea should win a Nobel prize.
(wow, I still can't seem to shut off the sarcasm)
“The Federal Reserve is not currently forecasting a recession.”
Fed Chairman Ben Bernanke, January 2008
This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.
Member
Was the sarcasm directed toward my comment? Bitcoin code is locked... The coins are locked. Most other coins can coin at will.
Now there's no more oak oppression
They passed a noble law
Now the trees are all kept equal
By hatchet, axe and saw.
I will not comply.
The Tea Party... quietly plotting to take over the world,
and leave you the hell alone!
Member
I wasn't poking at you. I was actually running with the sarcastic example that you had floated. I was actually in agreement with you. It's probably time for me to put down the keyboard for the evening.
My previous sarcasm aside, I am interested in learning how that system locks the asset in a secure way that can't be spoofed. I have yet to have that explained to me in a way that gives me confidence. There may be a workable system out there. I am not familiar with it at this time.
Last edited by SilverPalm; 09-15-2022 at 08:23 PM.
“The Federal Reserve is not currently forecasting a recession.”
Fed Chairman Ben Bernanke, January 2008
This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.
Moderator
"By the same token, I have yet to be convinced of the inherent anonymity of Bitcoin purchases, "because of how Blockchain works". "
As far as I know, and that may not be far at all, the idea of inherent anonymity of bitcoin transactions - much less purchases - has not been a claim made in many years. Has anyone actually seen serious claims of BTC anonymity in the last 5 years? "Serious" is an undefined adjective, I get that.
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