Economy "For the first time in history you have an asset more scarce than gold"

HOLA said:
Last time you went into Dunkin' or wherever to grab yourself a cup of coffee, did you see anyone paying with Bitcoin? lol.
Click to expand...

I don't know how things are going in the US, but are people going into Dunkin' and using precious metals to pay for coffee?
 
BreatheSherBro said:
What can you do with bitcoins/other crypto currency other than hope someone else buys them from you for more than you paid for them?

I know in theory they might become international currency one day, but I think we are still a ways off from that, right?
Click to expand...
You buy at a certain price in the hope it increases and then you sell at a higher price. You can also stake and gain passive income. Crypto bounces around more than stock so it runs on a seesaw cycle of highs and lows. You can do the same with regular fiat but it doesn't fluctuate near as much.
 
Are you old if don't know anything about this digital money that apparently has value...sometimes?

It just seems like a scam. Like if the stock market decided that Monopoly Money was worth something for a month or two, and then laughed in your face for investing in it.
 
Fake Doctor said:
I don't know how things are going in the US, but are people going into Dunkin' and using precious metals to pay for coffee?
Click to expand...
Nope. But gold also isn't something I'd recommend investing in.
 
Bitcoin is an unprecedented environmental catastrophe as well unfortunately.

 
Jack V Savage said:
He mentioned Shadowstats, which has the brilliant method of taking the actual number and just adding a constant. Maybe this guy had a new innovation--like adding a different, higher constant.

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"Maybe this guy had a new innovation--like adding a different, higher constant."
My original OP had inflation at 8.8% as oppposed to 8%. In 2020, the calculated inflation rate was 1.23%. I had inflation at 18.6%. This year, I have an estimated inflation rate of 9.5%. How can I do this with a constant?

I think Shadowstats is a good place to start to understand that the government numbers aren't accurate, nothing more than that. Why would I go through the trouble of calculating my own stats every year if I just used them?
 
BreatheSherBro said:
What can you do with bitcoins/other crypto currency other than hope someone else buys them from you for more than you paid for them?

I know in theory they might become international currency one day, but I think we are still a ways off from that, right?
Click to expand...
Are there a lot of people buying bitcoin to later sell at a higher price? Absolutely. Remember something, most of those people are regretting their decisions to sell. The people that were in early buying 100 bitcoin at a dollar a piece and selling them later when bitcoin hit 150 a few months later were very happy to make their 15k. Many of those types are on anti-depressents wishing they had just held on to their bitcoin. Do I think bitcoin could become international currency one day? It's possible but I see it more as part of a solution. What I think people are missing is that this current currency system is on the way out and that inflation is a big problem that can't be solved as easily as people think. As people start to understand inflation isn't transitory this time around, the need for hard assets and maybe even a new idea of money like bitcoin will come more into the mainstream.
 
HOLA said:
Which is?
Click to expand...
HOLA said:
Last time you went into Dunkin' or wherever to grab yourself a cup of coffee, did you see anyone paying with Bitcoin? lol.
Click to expand...
"Which is?"
My calculations are proprietary.

"Last time you went into Dunkin'..........."

You aren't wrong there but you do realize that Bitcoin's market cap is ~865 billion which makes it the 9th ranked asset in the world. It has a higher value than Berkshire Hathaway, Visa and Meta (Facebook). To act like this is some fringe thing going on when crytpo has a total market cap of ~1.5 trillion seems a little silly, no? Has anybody read the Bitcoin White Paper? Each cycle it's easy to scream bubble every time it corrects but El Salvador is using it as a currency. They were being mocked by the media (I think it was CNN or CNBC) when they were holding it at a loss but as of today they are up on their holdings. Is it possible most here have misunderstood what bitcoin is or what this is all about?

companiesmarketcap.com

Assets ranked by Market Cap - CompaniesMarketCap.com

Ranking the world's top assets by market cap, including precious metals, public companies, cryptocurrencies, ETFs
companiesmarketcap.com companiesmarketcap.com
 
Y'all kids' or grandkids' whole lives will be documented on some government chain, wallet addresses possibly replacing social security numbers...

And y'all still just talk about and hate on InTeRneT MoNeY.

Lol, smh.
 
It's hilarious that NFTs failed, when a bitcoin is basically just an NFT that reached the point of "too big to fail"
 
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