iampoor1
Well-known member
Correct, wash sale rules do not currently apply to BTC. The Build Back Better act does have a provision to close that loophole however.
Bitcoin, crypto currency and block chain...
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shabtek
Well-known member
i disagree.
western electric repeat coil transformers with silk covered lead wires are a superior investment.!
not only due to their finite quantity that is not unlike crypto but perhaps the metallurgical constituents hold the solution to looming energy crisis.?
perhaps the construction techniques within also hint at transdimentional back-doorism to parallel realities.?
BUY LOW BRO!
western electric repeat coil transformers with silk covered lead wires are a superior investment.!
not only due to their finite quantity that is not unlike crypto but perhaps the metallurgical constituents hold the solution to looming energy crisis.?
perhaps the construction techniques within also hint at transdimentional back-doorism to parallel realities.?
BUY LOW BRO!
iampoor1
Well-known member
Nice YouTube comment scam copypasta!
ETC suffers "Evil Developer" attack as Charles Hoskinson hijacks the community twitter for ETC of which he controlled and changes the name to a competing mineable crypto platform, of which they haven't rejected. Lots of bad actors out here.
iampoor1
Well-known member
Dont think I would put Charles Hoskinson in the bad actor camp (Look at how many outright scams exist) but deleting an account he had control over definitely was not a very nice move. He can certainly be a jerk sometimes
Buy low sell high..... (BTW I am still flat on my bitcoin holdings $0=$0)
About the only inflation hedge that seems plausible these days is real estate (maybe that's why Bill Gates and the Chinese are buying American farmland), but housing is setting up to take a hit because of rising interest rates. This home price softening is good news for first time home buyers, except for the higher mortgage costs.
JR
I remember getting my first home and assumed a 7% loan on the house. We were so happy because loan rates were like 11% at the time. It was 1981. That was on a house valued at $103k. My how times have changed. Inflation is a killer.
I remember being unable to secure a mortgage when I tried to buy a house back in the 80's.
Owning and operating my own small business was considered too risky apparently. I was a veteran too but couldn't even get a VA assisted loan. I continued renting, until I moved down south and was hired by Peavey. House prices down here were so much lower that I was able to scrape up a down payment from my checking account cash balance and assumed a mortgage that was probably in the low teens. The interest rate didn't bother me because I paid the mortgage off early, within a few years.It was mildly irritating to me during the housing bubble to watch them offer huge mortgages to anybody with a pulse. I had a young friend working in AZ who was flipping houses for increasing sales prices each time. I warned him that the music was sure to stop playing at some point, but he said he knew what he was doing.
He ended up losing his last flip and got to walk away relatively clean (quick-foreclosure). Now he's a homeowner, married with a few kids living in another state.After the debt crisis/collapse government worked to bail out all the underwater home owners (not literally underwater but with homes not worth the mortgage balance). This intentional home price inflation benefitted everybody holding hard assets.
JR
AnalogPackrat
Well-known member
My first home mortgage in 1999 was 7.25% (jumbo with 20% down). We thought that was great. Later refinanced at 4.25% after the crash of '08-09. I remember buying 18-month CDs that paid 11-13% back in the early 80s. Young folks are in for some rude surprises as we continue forward with bad policies that worsen our already high inflation.
Bought the bubble in fall of 2020 2.85% (unvaccinated, no masks, nobody died ... or got sick)
quick relationships math: (assessed asset valuation * fixed tax) == paid in taxes
infinitely printed fake money chasing hard assets driving costs up does what to tax revs?
edit: lol @ "Far Away From Newsom" @AnalogPackrat
quick relationships math: (assessed asset valuation * fixed tax) == paid in taxes
infinitely printed fake money chasing hard assets driving costs up does what to tax revs?
edit: lol @ "Far Away From Newsom" @AnalogPackrat
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AnalogPackrat
Well-known member
Invest in arable land, farm equipment, tools, equipment maintenance materials, food, etc.
MicDaddy: Greasy Gavin seems to admire the White House after his "secret" visit while POTATUS was out of the country a while back. I'm doing my best to prevent that from happening...you don't want that guy's hands near your wallet.
MicDaddy: Greasy Gavin seems to admire the White House after his "secret" visit while POTATUS was out of the country a while back. I'm doing my best to prevent that from happening...you don't want that guy's hands near your wallet.
CarterChoi
New member
Wow, guys. That’s probably the longest thread about crypto I’ve found recently. Tbh it’s really interesting to read what people thought of crypto 5 years ago and what they think of it now. Actually, I made my first crypto investment in 2018. I bought some BTC. Though it has crashed, I believe it will become as great as it used to be. Btw, I still keep mining Bitcoin on https://www.moonbitcoins.com/dashboard. That dashbpard gives me a hope every time I see it. Actually, guys, what do you invest in besides crypto? I'd be grateful for your replies
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I am still even on my $0 BTC position, while I remain enthusiastic about blockchain technology.
CAVEAT EMPTOR
JR
PS; I am still at zero tweets also.
CAVEAT EMPTOR
JR
PS; I am still at zero tweets also.
Blockchain technology is "capture the flow" usual suspects game without Proof of Work (incoming CBDC(s).) Proof of stake is an attack on this.
Gresham's informs (if I'm right) that none of it will be used as currency, but that doesn't mean it cannot have value or act as a means of exchange if someone wishes to make that tradeoff.
Gresham's informs (if I'm right) that none of it will be used as currency, but that doesn't mean it cannot have value or act as a means of exchange if someone wishes to make that tradeoff.
My opinion of Bitcoin has degraded considerably in the 5-ish years since I posted this original thread...mainly because of the economics of scale and the energy requirements that have come to light in the last many years...many bit-farms using as much electricity as entire towns...at current rates (pun intended) it is unsustainable and with the recent exposure of FTX it seems "Crypto" itself is a haven for being a marketplace for "Theranos" style currencies...
I bought $40 of bitcoin once...at one point it was worth almost $400 but the hoops and wallets and 3FA sort of nonsense to even see what it was actually trending at has made me abandon it...I probably still own it, or not...I have no idea since it i just too much work to dig it out of ll the requirements...(at one point to verify my identity I was required to post a passport photo online, no-F'n thank you)...
I had at one point thought blockchain would be valuable as a concept...
A decentralized system to verify code based on blockchain seemed a good idea, but again implementation through various distributed nodes requires a LOT of volunteered assets, which is not something humans are good at.
I now think bitcoin is a highly irresponsible use of resources.
I bought $40 of bitcoin once...at one point it was worth almost $400 but the hoops and wallets and 3FA sort of nonsense to even see what it was actually trending at has made me abandon it...I probably still own it, or not...I have no idea since it i just too much work to dig it out of ll the requirements...(at one point to verify my identity I was required to post a passport photo online, no-F'n thank you)...
I had at one point thought blockchain would be valuable as a concept...
A decentralized system to verify code based on blockchain seemed a good idea, but again implementation through various distributed nodes requires a LOT of volunteered assets, which is not something humans are good at.
I now think bitcoin is a highly irresponsible use of resources.
now do hairdryers and treadmills..all that military equipment we left in... Vietnam/Afghanistan
...how many are running class A ?
do you find the FED and central bank MMT systems of driving fiat currency's spending power to zero sustainable?
How many mortgage backed securities did the FED hold prior to 2008? How about now?
"if you have to work for money they can print, you're a slave"
How many permanent hospital beds went up relative to the trillions of dollars printed since spring of 2020? Responsible use of resources or nah? They're now using that money they created out of thin air (counterfeiting if you or I did this) for things like pet projects in towns across the country, nothing related to the scope of any "emergency."
Not gonna play "whataboutism" its a fool game...if you are suggesting that leaving a pile of radio equipment behind is somehow using as much energy as a bitcoin mining farm running thousands of 800 watt video cards to procure .000001% of a bitcoin I got nothing to offer you here...now do hairdryers and treadmills..all that military equipment we left in... Vietnam/Afghanistan
...how many are running class A ?
do you find the FED and central bank MMT systems of driving fiat currency's spending power to zero sustainable?
How many mortgage backed securities did the FED hold prior to 2008? How about now?
"if you have to work for money they can print, you're a slave"
How many permanent hospital beds went up relative to the trillions of dollars printed since spring of 2020? Responsible use of resources or nah? They're now using that money they created out of thin air (counterfeiting if you or I did this) for things like pet projects in towns across the country, nothing related to the scope of any "emergency."
And no one uses treadmills for anything but clothes racks...I'm more concerned over leaf blowers and unregulated 2 cycle motors pumping as much CO2 into the air as an afternoon gridlock in L.A. in each and every apartment complex in America.
I'm not going to go back and read your position...but I find NOTHING sustainable about crypto...it has become a great place to hide nefarious activity.
You started the "whataboutism" with your energy-use discrimination. My PA system was >10kW for personal use, is this sustainable?
The fundamentals behind the energy use tied into the security, the reward is the incentive. It's in some ways like an arms race. This is how the trustless network works, without it you have a spreadsheet controlled by whoever owns it.
"No one uses treadmills for anything but a clothes rack" billion dollar gym + equipment industry would like a word.
I will agree with you i find dumping chemicals and water onto lawns to grow grass to then use a 2-stroke to cut down and not eat very odd. (what's more odd is that if you back to birth this tradition it's largely government regulations driving it)
What is sustainable about a US dollar that is going to zero relative to spending power? They can print it at a whim by "going into the computer and changing the numbers" but you have to work and then pay taxes with those same dollars. You lose.
Nefarious activity? Uhm let's see which US conspiracy do you want me to use as example that was paid for with (checks notes) US dollars? Operation Northwoods would have cost how much?
..CO2 is plant food
Brian Roth
Well-known member
Paraphrasing Mr. Roberts "Can you say scam/Ponzi? I knew you could!"
https://www.cnn.com/2022/12/12/business/sam-bankman-fried-arrested/index.html
https://www.cnn.com/2022/12/12/business/sam-bankman-fried-arrested/index.html
He was scheduled to testify to congress tomorrow, but was too busy to fly in person... He was expecting an easy day since he greased both political parties.
[edit] The timing is not very clear why he was charged and arrested just before he was scheduled to testify to congress under oath for hours. He has been pretty talkative in a number of softball interviews, so prudent prosecutors should give as much rope as they can to hang himself with self-incriminating testimony. Make up your own conspiracy theory about this. [/edit]
It still stands to be seen whether he was clever or just really stupid. He did manage to get a lot of money from a lot of people less clever than him, using FTX... His gig was not a typical ponzi scheme while there were hints of Madoff. He may not have intended to steal money from people just had no idea of what he was doing, while he was in effect stealing money from people.
My bitcoin investment is still even $0=$0
JR
PS: I wonder if the miami heat have to change the name of their arena...
He was expecting an easy day since he greased both political parties.[edit] The timing is not very clear why he was charged and arrested just before he was scheduled to testify to congress under oath for hours. He has been pretty talkative in a number of softball interviews, so prudent prosecutors should give as much rope as they can to hang himself with self-incriminating testimony. Make up your own conspiracy theory about this.
[/edit] It still stands to be seen whether he was clever or just really stupid. He did manage to get a lot of money from a lot of people less clever than him, using FTX... His gig was not a typical ponzi scheme while there were hints of Madoff. He may not have intended to steal money from people just had no idea of what he was doing, while he was in effect stealing money from people.
My bitcoin investment is still even $0=$0
JR
PS: I wonder if the miami heat have to change the name of their arena...
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