Message from @Deleted User
Discord ID: 389581049895583744
@eastern.patriarch "I just don't see bitcoin or crypto currency ever being a currency" - I don't get it, if I can exchange it for goods and services, is it not a currency?
Sure, I am not saying bitcoin is bad. I try not to deal in absolutes. Many things can be mediums of exchange or store of value or both. Obviously the less liquid an asset is (i.e. your home) the harder it is to use it as a medium of exchange but it obviously has value. Many things today serve as money or currency or medium of exchange. I think the toal amount of paper dollars is about 1T. When you think about it, most transactions are done not in dollars, they are just _priced_ in dollars. Billions of transactions on securities markets are priced in dollars but not transacted in dollars. When you get a loan on a car, no dollars are used. What is being exchanged is your promisory note to pay for the loan (and the government's enforcement of it through repo, asset forfeiture laws, etc) for a car. No dollars are exchanged. It is barter in a way. So yes, if you can use something to exchange it for something else, you got yourself some money (currency would be the physical embodiment of money to be pedantic).
I have crypto currencies, like I said. I am not knocking it. I am saying use it, invest in it buy goods and services. Just remember that unless it is backed by the power of state (for all debts public and private) or is valuable beyond its monetary value (gold, land, old silver quarters), it cannot replace the currency backed by the state. This is not a technical problem just a legal one. There is nothing preventing the USTreas and Congress from deciding to switch everything over to bitcoin, start operating nodes in a blockchain. If you think that is where it is going, investing in it is a good idea. If you have 50K of speculative money to throw away, maybe that is a good idea too, why not? I am just saying that bitcoin is not going to be valued at US GDP/BitCoin eventual total mining output /21 million = $809,523 or even more absurd world gdp / total = $10mil per. I am not trying to argue, just offer some information that might or might not be helpful to people that look at bitcoin and think, hey maybe I can get rich off this and crypo will replace USD.
Long posts, i know. I am running database scripts now so i have to sit and watch it... lol
Case-sensitive aggregation hmm?
Nah man, it's just aggravating that people are going to lose their savings in Bitcoin
A lot of undereducated people are jumping onto it
I agree with that @John O -, but there is a name for retail investors jumping in chasing yield. Liquidity. lol
By the way, I meant that your broker is using case sensitive aggreagation instead of case insensitive therefore making bitcoin appear twice with different capitalization. I did not mean that you are aggrevated about this case....
Yeah, saw that
@here Reminder: Seminar on understanding options TONIGHT at 8PM CT. React to this if you're going to be listening so I know if I should expect an audience. If there's at least one react, it's on.
aww, wish it was on Futures
@FivePointPalm. They are very similar. I can work in how futures are different if you like.
TEACH US ABOUT BITCOIN
I'm not even close to qualified to teach about BTC. I have a bunch of books if you want them though.
Nah, jokes
Ah ok.
Fuuuuuckkk
Let me tell the kids.
@Deleted User don't worry about it
OK. I'll record it and send it to you.
Cool
Will PM you after I'm done.
👌
I'm going to be sleeping. Looking forward to listening tomorrow
Sure thing. I'll just send you a dropbox link so you can grab it whenever. If no one shows up I'll get in touch with you and we'll do it live another time.
Cool
@here options seminar starts in five minutes.
ya
hold on
ill brb. just keep going
James' ex has gotta be real salty about now
lmao that's not a real breakup letter
women don't understand finance enough to have that be a reason for the breakup