End of Dollar being moved along much quicker?
09-01-2022, 05:53 AM
#51
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 39,275
Originally Posted by MaxQ
Thanks for the point-by-point answers Rick.
They are in line with what I thought.
As an outsider looking on, it seems a rather unstable place to park personal wealth. (unless, as you say, the point is to hide ones wealth)
It strikes me as having some similarities to a chain letter, where at some point someone is left holding the proverbial bag. Also, as it creates money from nothing, it has to be extractive/parasitic. If that is indeed the case, it is ultimately harmful to a country and its economy.
They are in line with what I thought.
As an outsider looking on, it seems a rather unstable place to park personal wealth. (unless, as you say, the point is to hide ones wealth)
It strikes me as having some similarities to a chain letter, where at some point someone is left holding the proverbial bag. Also, as it creates money from nothing, it has to be extractive/parasitic. If that is indeed the case, it is ultimately harmful to a country and its economy.
But yeah if crypto went mainstream, at elevated values, then yes that real value has to come from somewhere.
But right now you acquire it in one of three ways...
1. Buy it with real currency
2. Provide goods or services and get paid in crypto
3. Mine it
So it does have some real value, at the very least the cost to mine it which is well over $10k assuming you have the most efficient hardware and can access cheap electricity. And again, it does have an additional value premium in opacity to some people... if nothing else tax evaders are saving 30% by using crypto.
As an aside the dollar is up... to the point that I know people buying vacay/retirement homes in Europe right now. Apparently the reports of it's demise are once again premature. Guess the global finance system isn't flocking to rubles or yuan just yet
09-01-2022, 04:30 PM
#53
Gets Weekends Off
Joined APC: Oct 2009
Posts: 741
Originally Posted by rickair7777
Paper gains are nothing. Eventually the bubble pops, and the losers are just the gamblers who made the wrong bet at the wrong time.
But yeah if crypto went mainstream, at elevated values, then yes that real value has to come from somewhere.
But right now you acquire it in one of three ways...
1. Buy it with real currency
2. Provide goods or services and get paid in crypto
3. Mine it
So it does have some real value, at the very least the cost to mine it which is well over $10k assuming you have the most efficient hardware and can access cheap electricity. And again, it does have an additional value premium in opacity to some people... if nothing else tax evaders are saving 30% by using crypto.
As an aside the dollar is up... to the point that I know people buying vacay/retirement homes in Europe right now. Apparently the reports of it's demise are once again premature. Guess the global finance system isn't flocking to rubles or yuan just yet
But yeah if crypto went mainstream, at elevated values, then yes that real value has to come from somewhere.
But right now you acquire it in one of three ways...
1. Buy it with real currency
2. Provide goods or services and get paid in crypto
3. Mine it
So it does have some real value, at the very least the cost to mine it which is well over $10k assuming you have the most efficient hardware and can access cheap electricity. And again, it does have an additional value premium in opacity to some people... if nothing else tax evaders are saving 30% by using crypto.
As an aside the dollar is up... to the point that I know people buying vacay/retirement homes in Europe right now. Apparently the reports of it's demise are once again premature. Guess the global finance system isn't flocking to rubles or yuan just yet
Example: The Polish Zloty took a hit when Russia greatly expanded its invasion of Ukraine. Threat of war, even if widely considered to be a small threat, had an immediate influence.
09-01-2022, 04:38 PM
#54
Gets Weekends Off
Joined APC: Oct 2009
Posts: 741
Originally Posted by SonicFlyer
I see crypto similar to precocious metals. Not really a true "investment" but more like a commodity where you don't keep more than 5% of them as your total portfolio.
Gold physically exists. Its value may fluctuate, but you own a chunk of it.
I question it being a true commodity, as I am still not convinced that it has any basis in physical reality.
09-01-2022, 09:06 PM
#55
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 39,275
Originally Posted by MaxQ
Sonic,
Gold physically exists. Its value may fluctuate, but you own a chunk of it.
I question it being a true commodity, as I am still not convinced that it has any basis in physical reality.
Gold physically exists. Its value may fluctuate, but you own a chunk of it.
I question it being a true commodity, as I am still not convinced that it has any basis in physical reality.
1. People like it. The way it feels and looks. This has been the case for literally millennia, all of recorded history, and that probably isn't changing any time soon.
2. In the modern era it also has some legit industrial value as well, along with other precious metals.
Bonus: It's concentrated in a small, portable form factor (mattered more before mechanized transport was a thing). Although you can fit a lot more bitcoin than gold on a USB stick.
In the event of Global Apocalypse, gold would still have value. Maybe not as much value as an equivalent weight 7.62 NATO.
09-02-2022, 07:39 AM
#56
Gets Weekends Off
Joined APC: Oct 2009
Posts: 741
Originally Posted by rickair7777
Gold has value...
1. People like it. The way it feels and looks. This has been the case for literally millennia, all of recorded history, and that probably isn't changing any time soon.
2. In the modern era it also has some legit industrial value as well, along with other precious metals.
Bonus: It's concentrated in a small, portable form factor (mattered more before mechanized transport was a thing). Although you can fit a lot more bitcoin than gold on a USB stick.
In the event of Global Apocalypse, gold would still have value. Maybe not as much value as an equivalent weight 7.62 NATO.
1. People like it. The way it feels and looks. This has been the case for literally millennia, all of recorded history, and that probably isn't changing any time soon.
2. In the modern era it also has some legit industrial value as well, along with other precious metals.
Bonus: It's concentrated in a small, portable form factor (mattered more before mechanized transport was a thing). Although you can fit a lot more bitcoin than gold on a USB stick.
In the event of Global Apocalypse, gold would still have value. Maybe not as much value as an equivalent weight 7.62 NATO.
Sorry for not making the distinction clear.
And agree. Regardless of the reasons, gold has been valued for millennia, and probably always will be as long as we have vestiges of civilizations.
09-02-2022, 01:45 PM
#57
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 39,275
Crypto is now available from ATM's at gas stations and liquor stores in your nearest low-income neighborhood. Yeah, somebodies getting screwed...
https://www.newsnationnow.com/busine...n-los-angeles/
https://www.newsnationnow.com/busine...n-los-angeles/
09-11-2022, 09:06 AM
#58
Gets Weekends Off
Joined APC: Jan 2018
Posts: 644
Originally Posted by Bluesteal
Exactly Chihuahua... we're so brainwashed by the TV that people dont even realize these sanctions are absolutely killing the west and mostly the US. The whole world will go away from the dollar and as the Saudi's have their meeting with China today, Saudi's and other OPEC nations may now price their oil in Yuan. Crushing the US and impoverishing the people
04-03-2023, 05:23 PM
#59
New Hire
Joined APC: May 2021
Posts: 9
Originally Posted by Duffman
How'd this all turn out?
04-06-2023, 10:33 AM
#60
Perennial Reserve
Joined APC: Jan 2018
Posts: 11,501
Originally Posted by rickair7777
In the event of Global Apocalypse, gold would still have value. Maybe not as much value as an equivalent weight 7.62 NATO.
Guns, ammo, and freeze dried foods maybe the new best investment.
Thread
Thread Starter
Forum
Replies
Last Post
