yeah it is highly unstable, except for a few coins called stable coins and more expected to be coming out soon. Crypto debit cards (starting to be available) instantly sell for USD and pay like a bank account. you cant honestly think were going to keep printing Dollars and coins forever ? it cost .05 to .15 cent per bill to make them maybe more now. As I stated "crypto or something like" it is the future. even in this correction, a decent Video card could produce $20-$30 a month. idle PC for people on a budget = more Subs possibly
Gushing said:yeah it is highly unstable, except for a few coins called stable coins and more expected to be coming out soon. Crypto debit cards (starting to be available) instantly sell for USD and pay like a bank account. you cant honestly think were going to keep printing Dollars and coins forever ? it cost .05 to .15 cent per bill to make them maybe more now. As I stated "crypto or something like" it is the future. even in this correction, a decent Video card could produce $20-$30 a month. idle PC for people on a budget = more Subs possibly
Pkus the cost of the large amounts of electricity it currently costs to mine for the coins. There are municipalies actually banning the mining of crypto.
While I agree that some form of non-physical "currency" will happen, it's not going to be crypto. Crypto is, currently, nothing more than a fancy Ponzi scheme. The market couldn't support a non-triivial amount of the people who use it cashing out. It would collapse. That's not even counting the crazy dives iit takes every time someone says that government 'x' is going to investigate it. Nor the massive market fragmentation. eCurrency will never be a thing until you can pay for ANYTHING with it. You can't do that with Crypto. Try paying your electric bill, your car loan, or your mortgage with it.
Gushing said:yeah it is highly unstable, except for a few coins called stable coins and more expected to be coming out soon. Crypto debit cards (starting to be available) instantly sell for USD and pay like a bank account. you cant honestly think were going to keep printing Dollars and coins forever ? it cost .05 to .15 cent per bill to make them maybe more now. As I stated "crypto or something like" it is the future. even in this correction, a decent Video card could produce $20-$30 a month. idle PC for people on a budget = more Subs possibly
Who uses Dollars now? I've had the same bills in my wallet for well over 3-4 months.
Bank Account+Direct Deposit+Debit Card = your "Printing Dollars" reasoning is a moot point.
Some people still use paper money?
Zorkon said:Gushing said:yeah it is highly unstable, except for a few coins called stable coins and more expected to be coming out soon. Crypto debit cards (starting to be available) instantly sell for USD and pay like a bank account. you cant honestly think were going to keep printing Dollars and coins forever ? it cost .05 to .15 cent per bill to make them maybe more now. As I stated "crypto or something like" it is the future. even in this correction, a decent Video card could produce $20-$30 a month. idle PC for people on a budget = more Subs possibly
Who uses Dollars now? I've had the same bills in my wallet for well over 3-4 months.
Bank Account+Direct Deposit+Debit Card = your "Printing Dollars" reasoning is a moot point.
Some people still use paper money?
So your basically using Digital currency , only 1 controlled by the bank. thanks like I said, crypto or something like it.
Also it cost me $24.00 a month to run 6 Video caards full time. yeah some places may being trying to stop Huge operations from using more power than the whole town uses but thats not what i was saying
its amazing to me how negative people are about stuff they cant understand....Like it or not its a Viable way to pay for lots of things. But hey I guess those round things that roll aways from you aint good for anything either
Kalok said:Gushing said:yeah it is highly unstable, except for a few coins called stable coins and more expected to be coming out soon. Crypto debit cards (starting to be available) instantly sell for USD and pay like a bank account. you cant honestly think were going to keep printing Dollars and coins forever ? it cost .05 to .15 cent per bill to make them maybe more now. As I stated "crypto or something like" it is the future. even in this correction, a decent Video card could produce $20-$30 a month. idle PC for people on a budget = more Subs possibly
Pkus the cost of the large amounts of electricity it currently costs to mine for the coins. There are municipalies actually banning the mining of crypto.
While I agree that some form of non-physical "currency" will happen, it's not going to be crypto. Crypto is, currently, nothing more than a fancy Ponzi scheme. The market couldn't support a non-triivial amount of the people who use it cashing out. It would collapse. That's not even counting the crazy dives iit takes every time someone says that government 'x' is going to investigate it. Nor the massive market fragmentation. eCurrency will never be a thing until you can pay for ANYTHING with it. You can't do that with Crypto. Try paying your electric bill, your car loan, or your mortgage with it.
https://www.coindesk.com/bitcoin-bill-payment-services-go-international/
Earlier this year, CoinDesk reported on the launch of Bylls, a Canada-based service that allows users to pay bills in bitcoin at more than 6,000 organizations, including the government. It was one of the world's first. Now, new services are popping up around the globe that allow you to pay for everything from basic utilities to taxes in bitcoin.
or
https://cointelegraph.com/news/5-cities-that-let-you-buy-real-estate-with-bitcoin
yeah its just a Fad or a Ponzi scheme.
Either way , it could open up more people to support the game, which is why I brought it up.
Gushing said:Kalok said:Gushing said:yeah it is highly unstable, except for a few coins called stable coins and more expected to be coming out soon. Crypto debit cards (starting to be available) instantly sell for USD and pay like a bank account. you cant honestly think were going to keep printing Dollars and coins forever ? it cost .05 to .15 cent per bill to make them maybe more now. As I stated "crypto or something like" it is the future. even in this correction, a decent Video card could produce $20-$30 a month. idle PC for people on a budget = more Subs possibly
Pkus the cost of the large amounts of electricity it currently costs to mine for the coins. There are municipalies actually banning the mining of crypto.
While I agree that some form of non-physical "currency" will happen, it's not going to be crypto. Crypto is, currently, nothing more than a fancy Ponzi scheme. The market couldn't support a non-triivial amount of the people who use it cashing out. It would collapse. That's not even counting the crazy dives iit takes every time someone says that government 'x' is going to investigate it. Nor the massive market fragmentation. eCurrency will never be a thing until you can pay for ANYTHING with it. You can't do that with Crypto. Try paying your electric bill, your car loan, or your mortgage with it.
https://www.coindesk.com/bitcoin-bill-payment-services-go-international/
Earlier this year, CoinDesk reported on the launch of Bylls, a Canada-based service that allows users to pay bills in bitcoin at more than 6,000 organizations, including the government. It was one of the world's first. Now, new services are popping up around the globe that allow you to pay for everything from basic utilities to taxes in bitcoin.
or
https://cointelegraph.com/news/5-cities-that-let-you-buy-real-estate-with-bitcoin
yeah its just a Fad or a Ponzi scheme.
Either way , it could open up more people to support the game, which is why I brought it up.
Yep. SHow me where you can do that in the US, UK, Japan, or just about ANY other country, not counting Venezuela....
Speaking of Venezuela..... Look at their Ponzi scheme...err.....crypto... You know. The one that they made up out of thin air, much like all of the rest of the cryptoi.
Digital currencies have nothing backing them, they were created out of imagination and thin-air.
They essentially are nothing more than a bartering chip, which means the person your trading with must want/need them or they are worthless. No differnt than me trying to buy a car with my Pantheon coins.
As soon as the IRS and other countries figure out how to properly track and tax crypto currency income, crypto in its current form will crumble. Eventually you will need to report every currency you have mined or received, the value of the currency at the time of receiving, and the value when it was spent or held at the end of the tax year. You will be taxed at least 25% on the net received values as if it were normal income then you will need to pay capital gains tax on any increase in value while you held the currency.
Most likely the gov's will be lazy and claim the highest aggravate value of the currency over the financial quarter which makes it even more dangerous to hold and receive, cause math. Additionally crypto currencies will be divided into secured and unsecured based on their regulation, recording and fraud prevention. Only secured crypt-currencies will be legal to use in legitimate business, using the unsecured crypto-currency will be the same as tax evasion and will carry the current legal penalties. Likely any currency that could be mined by an individual will be considered unsecured.
Death and taxes, that is the future that awaits crypto currency. Oh and I am very much looking forward to there being no reason for someone to buy 6 GPUs at stupid prices. My opinions on the matter are riled up enough that I don't want to fully post them as that is not the type of poster I want to be on this board.
Does people really care about "what currency you use to pay with" as long as any currency can be converted into anything ? I mean, unless you have a cashflow of bitcoincs/crypto/whateverelse that cannot be properly converted into usd, why would you need something else ? Taking profit of not changing your money into anything else ? Making currency out of no work at all ?
Bonechip said:
Zorkon said:Who uses Dollars now? I've had the same bills in my wallet for well over 3-4 months.
Well that settles it. With a rock-solid long-term track record like that... it has to be a sure thing. /s
Sounds logical to me too...hehehehe
Apparetly Zorkon doesn't understand that "dolars" aren't just in his wallet. THey are also in his bank account, thus being able to be utilized via check or debit/credit card.... Just what I want. Someone with zero concept of economics deciding my financial future.
Kalok said:Bonechip said:
Zorkon said:Who uses Dollars now? I've had the same bills in my wallet for well over 3-4 months.
Well that settles it. With a rock-solid long-term track record like that... it has to be a sure thing. /s
Sounds logical to me too...hehehehe
Apparetly Zorkon doesn't understand that "dolars" aren't just in his wallet. THey are also in his bank account, thus being able to be utilized via check or debit/credit card.... Just what I want. Someone with zero concept of economics deciding my financial future.
It also might help if you went back and read my entire post instead of the single sentance that Bonechip quoted.
Zorkon said:
It also might help if you went back and read my entire post instead of the single sentance that Bonechip quoted.
Creating an unregulated currency out of thin air is not a viable alternative to "paper money".
Serously, if I convinced enough people that grass clippings were money, it would be the same thing as crypto currency. Everyone can grow their own, and harvest it... so what is the difference?
Bonechip said:
Zorkon said:It also might help if you went back and read my entire post instead of the single sentance that Bonechip quoted.
Creating an unregulated currency out of thin air is not a viable alternative to "paper money".
Serously, if I convinced enough people that grass clippings were money, it would be the same thing as crypto currency. Everyone can grow their own, and harvest it... so what is the difference?
Exactly... Fiat currency is the only currency that is "legitimate". People have tried for several decades to create currencies outside of the "legitimate" system and failed.
The reasons for this are many, but the single largest is that there is no system of recompense for those that lose theirt "money" through no fault of their own. Take, for example, crypto-currency.... Hundreds of millions of "dollars" in valuation have been lost to theft and there is absolutely zero that the victim or law enforcement can do. Technically, by current laws, it's not even a financial crime. The best that the criminal could be tried for is "hacxking statutes". If a person scams you out of your dollars, like the Madhoff scheme, they will go to prison. Someone scams you out of your crypto-currency, it's just gone and there's not a thing you can do about it.
That's not even taking the "market volatility" into account where today you paid $50 for something, but tomorrow, thanks to the volatility that same $50 is now valued at $20 or $80. How are businesses supposed to account for that? The short answer is that they cannot. Therefore it does not behoove them to take the crypto currency in payment for goods or services. That is EXACTLY why Steam stopped taking it. It's the same reason you cannot cash your crypto-currency out at a legitimate bank.
Crypto-currency, in its current state, is nothing more than a Ponzi scheme that is played by people who think that "getting something for nothing" is a viable business model.