I'm sure more than a few people got rich from tulip bulbs, too. Anything that has the kind of gyrations as crypto is NOT by definition a "stable store of value".

Cheers!

2 hours ago, Luke said:

Anything that has the kind of gyrations as crypto is NOT by definition a "stable store of value".

 

Nobody said it was. Its something you invest in if you can lose the money invested without issue. 

Its a bit like delidding a 600 quid CPU. 

😸

3 hours ago, martin-w said:

 

Crypto plummeting, awesome, time to buy then. 😁

Somebody I know amassed a sizable deposit for his house thanks to crypto. 👍

Crypto is a good pump and dump because of the volitility, but it would be foolish to hold a long position in $BTC or any crypto at this moment in time.

 

5 hours ago, martin-w said:

Nobody said it was. Its something you invest in if you can lose the money invested without issue. 

Au contraire - just two weeks ago my LinkedIn feed was flooded with crypto-bros talking about how crypto is superior to the US Dollar, which is declining in value at a single-digit percentage per year. Ironic. Currencies are supposed to be relatively stable since they're designed as exchange media, not investments on their own.

Cheers!

Edited January 24, 20224 yr by Luke

13 hours ago, Luke said:

Au contraire - just two weeks ago my LinkedIn feed was flooded with crypto-bros talking about how crypto is superior to the US Dollar, which is declining in value at a single-digit percentage per year. Ironic. Currencies are supposed to be relatively stable since they're designed as exchange media, not investments on their own.

Cheers!

 

 

I meant nobody hear on Avsim, where the worlds problems are solved by a world renowned team of geniuses. 😁

9 hours ago, Rob_Ainscough said:

I have something more reliable to invest in ... my Silent Chiller!  🙂

Cheers, Rob.

 

A truly worthy investment Rob.  🥶   In fact, after sending back an excessively warped Z690-Hero and obtaining a Z690 Apex instead, a true overclockers board, I'm almost tempted... 

But sadly no. I will remain "unchilled". 

Who holds the massive cash pile to pay customers when they cash in. 

29 minutes ago, G-RFRY said:

Who holds the massive cash pile to pay customers when they cash in. 

 

The feline overlords. The gods and goddesses we adore. This is foretold in the ancient texts. 

 

2 minutes ago, Rob_Ainscough said:

And it’s real and tangible, you can touch it, smell it, awe at it, and it occupies space in 3 dimensions.  📦

Cheers Rob

 

So do my dosh notes in my wallet courtesy of Crypto. Okay, I have never bought or sold Crypto but you get my drift. 😃

Your bank balance doesn't occupy space in three dimensions you cant smell it. And we may have to get used to it. In time there will by no physical money. 

23 minutes ago, Rob_Ainscough said:

You need to go visit some of the countries I've lived in ... there will always be physical money or goat exchange or even dare I say it ... cat exchange. 

 

😡 How dare you! MINUS TEN CAT POINTS!  - 10 😼

Perhaps there will be a goat or two exchanged but not for major countries like the ones we live in. Always is a long time, the Federation managed it. 😀 

 

1 hour ago, Rob_Ainscough said:

there will always be physical money or goat exchange or even dare I say it ... cat exchange.

I find it highly offensive that anyone would suggest a GOAT as a form of currency. Goats are family in southern Illinois..Here is a picture of me and one of my goats (Holly) to prove it.

 

I must admit that when I first saw the title of this thread, I thought that it was going to be about cryptids!

17 hours ago, Rob_Ainscough said:

31% of the world population over age 15 don't have bank accounts, all cash

 

Give it time, chips in all brains. All connected to the worldwide mega web. 

On 1/25/2022 at 9:43 AM, Rob_Ainscough said:

During my trips to the UK in 2019 1 BPS fluctuated from 1.23 to 1.35 US dollar over 2 year period ... now compare that with BitCoin over that same period.  Crypto is just another unstable currency that the planet doesn't need.  Can you imagine getting paid in BitCoin ... you work for $50/hr equivalent and get paid in BitCoin at "pay day" at that moment in time, 1 week later when you come to pay your mortgage you can't because your $50/hr wage just got devalued to $25/hr ... why?  Because Elon Musk makes a comment that BitCoin is a scam (of which I agree) ... no other reason than some guy making a public statement about BitCoin.  How's that viable, who wants to roll the dice on something so arbitrary?  I'd rather go buy lottery tickets ... at least some of that goes to educational institutions (in theory anyway).

Here's a great video covering crypto currencies and the related NFTs, and all of the problems with them. While it is long, it was quite watchable.