quote:

Originally posted by LivingTheDream1:
I have used it mostly on the secondary market to pay friends or for stupid little stuff. I have two friends who did buy Teslas with Bitcoin. I think it is really important to separate Bitcoin and other crypto. They all have a different purpose (or proposed use case

The fact it is getting integrated into PayPal and some credit cards probably will make this more mainstream but in my mind defeats the point and does create a tax headache. There is definitely risk and the industry needs to mature but there are some advantages. It will be a while till everybody accepts it.

It will be quite a while before anyone of any significance accepts it. What is the point, anyway?? And what have you bought with it?? I’m guessing it wasn’t a car, house, power bill, lawyer’s fee, etc, etc, etc.

quote:

Originally posted by jdollar:

quote:

Originally posted by LivingTheDream1:
I have used it mostly on the secondary market to pay friends or for stupid little stuff. I have two friends who did buy Teslas with Bitcoin. I think it is really important to separate Bitcoin and other crypto. They all have a different purpose (or proposed use case

The fact it is getting integrated into PayPal and some credit cards probably will make this more mainstream but in my mind defeats the point and does create a tax headache. There is definitely risk and the industry needs to mature but there are some advantages. It will be a while till everybody accepts it.

It will be quite a while before anyone of any significance accepts it. What is the point, anyway?? And what have you bought with it?? I’m guessing it wasn’t a car, house, power bill, lawyer’s fee, etc, etc, etc.

Even Ftx’s bankmsn one of the largest crypto trader does not think Bitcoin can serve as a payment mechanism

https://www.marketwatch.com/st...an-fried-11652709749


Bitcoin maintains a ledger for 400k daily trades/transactions. Using crazy amounts of power.

https://fortune.com/2021/10/26...ion-carbon-footprin/

Visa processes 180 bil transaction a year - close to 500 mil a day.

Mike

quote:

Originally posted by Beretta682E:

Visa processes 180 bil transaction a year - close to 500 mil a day.

Mike

Mike,

There’s 86,400 seconds in a day. Solana can process 65,000 transactions per second. Is that more or less than VISA’s “close to 500 mil per day? VISA charges businesses over 3% for the honor. Solana’s transaction fee is Pennies.

I could be wrong but 500 mil per day is 5,767 per second.

See you guys back here in 2027.

So it’s going to take 5 years before crypto is a viable means of payment? I’ll wait….

The entire crypto market has shed almost 2/3 of it’s value since November 2021- almost 2 trillion dollars. Not a pretty picture.

https://www.nbcnews.com/tech/c...us-economy-rcna28427

quote:

Originally posted by jdollar:
So it’s going to take 5 years before crypto is a viable means of payment? I’ll wait….

No, maybe longer who knows. But in fave years, should we all be alive, digital assets will be a well adopted viable part of the investment industry and retail investing.

See ya in five years to resurrect this thread.

quote:

Originally posted by larryshores:
https://www.marketwatch.com/st...orts-say-11652547208

Over 99% of "Alt coins" are "shit coins". It's the wild west right now. When it comes to booking hunts in far flung places I'll choose either my own due diligence, or reputable booking agents and not someone like Blair.

Digital Asset adoption by large investment houses is happening rapidly. How many here still have a land line vs. a cellphone? Times change.

quote:

Originally posted by Frostbit:

quote:

Originally posted by larryshores:
https://www.marketwatch.com/st...orts-say-11652547208

Over 99% of "Alt coins" are "shit coins". It's the wild west right now. When it comes to booking hunts in far flung places I'll choose either my own due diligence, or reputable booking agents and not someone like Blair.

Digital Asset adoption by large investment houses is happening rapidly. How many here still have a land line vs. a cellphone? Times change.

With all due respect, changing from the dollar to crypto is not in the same universe as going from a land line to a cell.

quote:

Originally posted by larryshores:

quote:

Originally posted by Frostbit:

quote:

Originally posted by larryshores:
https://www.marketwatch.com/st...orts-say-11652547208

Over 99% of "Alt coins" are "shit coins". It's the wild west right now. When it comes to booking hunts in far flung places I'll choose either my own due diligence, or reputable booking agents and not someone like Blair.

Digital Asset adoption by large investment houses is happening rapidly. How many here still have a land line vs. a cellphone? Times change.

With all due respect, changing from the dollar to crypto is not in the same universe as going from a land line to a cell.

How about snail mail to email.

Larry, we know each other fairly well. There's never a need for the "with due respect" preamble.

I've done the deep dive on digital assets. I also read Bloomberg, Forbes, Market Watch, etc. regarding digital assets and those publications are resistant to the thought of digital assets. I understand that.

Adoption is happening and increasing. Is the space ready to replace paper currency (fiat) - absolutely not. Will it eventually. Absolutely. Just look into Block (SQ) and their acquisition of cash app and their work to tie it to the lightning network.

If you owned a restaurant or any other retail business and you could replace credit card payment methods with something that cost you pennies instead of 3% while delivering fast transactions with the same ease, would you convert? Sure you would. Albeit slowly in the beginning by offering both methods of payment.

I could very well be completely wrong. If so, oh well. If I'm right perhaps I will be able to afford Tanzania some day.

The inflation reported at 8.3% is actually 15 to 20% and unsustainable in the long run. You know that and I know that.

Just got home from the market with two small plastic bags of groceries, no meat, no booze and it was $89. Then I put $5.29/gal. fuel in the rig.

Cheers
Jim

quote:

Just got home from the market with two small plastic bags of groceries, no meat, no booze and it was $89. Then I put $5.29/gal. fuel in the rig.

What??? Diesel is cheaper in Alaska than in Texas???

quote:

Originally posted by K Evans:

quote:

Just got home from the market with two small plastic bags of groceries, no meat, no booze and it was $89. Then I put $5.29/gal. fuel in the rig.

What??? Diesel is cheaper in Alaska than in Texas???

It's weird because Diesel has been higher than unleaded here and now unleaded just spiked another dollar over about a week but Diesel didn't move. They're about the same price now.

quote:

Originally posted by Frostbit:

quote:

Originally posted by K Evans:

quote:

Just got home from the market with two small plastic bags of groceries, no meat, no booze and it was $89. Then I put $5.29/gal. fuel in the rig.

What??? Diesel is cheaper in Alaska than in Texas???

It's weird because Diesel has been higher than unleaded here and now unleaded just spiked another dollar over about a week but Diesel didn't move. They're about the same price now.

Diesel is about $.70 per gallon higher here, that is today. Unleaded gas has gone up about $.40 in the last 2 days where I buy fuel. I expect unleaded to almost catch up to diesel pretty soon. Everything else is skyrocketing, too…if you can find anything.

Here diesel is ALWAYS at least .70-80 cents/gallon more expensive than regular. Any mpg savings is more than offset by the higher price.

quote:

Originally posted by jdollar:
Here diesel is ALWAYS at least .70-80 cents/gallon more expensive than regular. Any mpg savings is more than offset by the higher price.

Jerry,

It's weird up here. Diesel was always cheaper than gasoline then after the Biden Putin price hike Diesel went nuts.

Just saw a place near Cedar Key where diesel was $1.29 a gallon higher than regular .

quote:

Originally posted by larryshores:
Just saw a place near Cedar Key where diesel was $1.29 a gallon higher than regular .

Ah, Cedar Key. Brings back memories.

When I was finishing up my stint in the Navy, I owned a Cessna 310 and sold it about a month before being released from the military. Sold to an elderly man who wanted to learn to fly it but it was a bit more than he could handle. So I flew him around quite a bit before starting with the airlines.

We used to fly to Cedar Key, buzz the local bar, and the lady who ran it would come meet us at the airport. She would take us around to purchase Stone Crabs for my friend's parties.

It was a challenge getting that plane in and out of that short runway. Good times.

Sorry for the hijack but had to comment on Cedar Key!

quote:

Originally posted by larryshores:
Just saw a place near Cedar Key where diesel was $1.29 a gallon higher than regular .

They really rape you in CA. Diesel prices there are always through the roof.

quote:

Originally posted by larryshores:
Just saw a place near Cedar Key where diesel was $1.29 a gallon higher than regular .

Same here, except that diesel is $1.20/gal. higher than 93 octane premium!

Biden and his puppeteers are destroying the market in so many ways.

quote:

Originally posted by Frostbit:

quote:

Originally posted by Beretta682E:

Visa processes 180 bil transaction a year - close to 500 mil a day.

Mike

Mike,

There’s 86,400 seconds in a day. Solana can process 65,000 transactions per second. Is that more or less than VISA’s “close to 500 mil per day? VISA charges businesses over 3% for the honor. Solana’s transaction fee is Pennies.

I could be wrong but 500 mil per day is 5,767 per second.

See you guys back here in 2027.

What do we compare in 2027 given 2 of the top 10 crypto by market capitalization went bust in last 6 weeke.

Mike

Worth the read, indeed.

I don't trust anything that SMART.

And there is no way in hell I would trust anything that is CRYPTO!

I read the article. I totally get and agree with MOST of it. However, crypto as a hedge against inflation seems laughable to me. The pricing has been so volatile that I don't think anyone can realistically think it can used to protect against inflation.

quote:

Originally posted by larryshores:
I read the article. I totally get and agree with MOST of it. However, crypto as a hedge against inflation seems laughable to me. The pricing has been so volatile that I don't think anyone can realistically think it can used to protect against inflation.

By the time the adoption goes exponential the volatility will settle. Presently the adoption curve is about where the internet was in 1992.

Having a store of value that has a perpetual supply limit negates any chance for inflation from debasement secondary to supply.

You're a smart guy Larry. No need for my to tell you that.

Cheers
Jim

Something that drops over 20% (much less 80%) in value in one day is not a hedge.

It's a gamble, and a losing bet.

https://techcrunch.com/2022/06...e-market-conditions/

Crypto in fee fall. Another large intermediary fails. Deposit crypto for 10-20 percent interest only goes so far.

Mike

https://coinmarketcap.com/currencies/celsius/

Celsius token.


Mike

quote:

Originally posted by Beretta682E:


Crypto in fee fall.

Mike

Just triggered a limit order buy. Good times.

From

Saying not “even one person who has a problem withdrawing”.

To suspending redemption on $12 bil of assets.

All in one weekend

https://www.ft.com/content/25a...16-b553-448ea4582613



Binance worlds largest trader of crypto suspended redemption of bitcoin worlds most liquid crypto for many trading hour today.

https://www.marketwatch.com/st...s-crater-11655129426



This is the future of alternative currencies to fiat money and where one will pay for African hunting. Reminds me of hotel California


Mike

quote:

Originally posted by Beretta682E:
From

Saying not “even one person who has a problem withdrawing”.

To suspending redemption on $12 bil of assets.

All in one weekend

https://www.ft.com/content/25a...16-b553-448ea4582613



Binance worlds largest trader of crypto suspended redemption of bitcoin worlds most liquid crypto for many trading hour today.

https://www.marketwatch.com/st...s-crater-11655129426



This is the future of alternative currencies to fiat money and where one will pay for African hunting. Reminds me of hotel California


Mike

Damn good thing trading of securities has never been halted.

Holding digital assets on a centralized exchange has its risks. It's the reason the majority of our household digital assets are held on a self custody cold wallet with both Joyce and I having the seed phrase memorized.

Cheers, it will be interesting checking back in on this thread in 2027

J&J

I’ll be happy just to be around in 2027, pushing 80 years old…

quote:

Originally posted by jdollar:
I’ll be happy just to be around in 2027, pushing 80 years old…

One never knows. That's for sure.

quote:

Originally posted by Frostbit:

quote:

Originally posted by Beretta682E:
From

Saying not “even one person who has a problem withdrawing”.

To suspending redemption on $12 bil of assets.

All in one weekend

https://www.ft.com/content/25a...16-b553-448ea4582613



Binance worlds largest trader of crypto suspended redemption of bitcoin worlds most liquid crypto for many trading hour today.

https://www.marketwatch.com/st...s-crater-11655129426



This is the future of alternative currencies to fiat money and where one will pay for African hunting. Reminds me of hotel California


Mike

Damn good thing trading of securities has never been halted.

Holding digital assets on a centralized exchange has its risks. It's the reason the majority of our household digital assets are held on a self custody cold wallet with both Joyce and I having the seed phrase memorized.

Cheers, it will be interesting checking back in on this thread in 2027

J&J

Fx markets have not been halted. Crypto is supposed to be a currency alternative and supposed to replace fiat currency.

How does one sell an asset when exchanges are suspect and no central bank comes to rescue the market makers when a crisis happens. That is similar to have money in a bank in zim.


https://www.binance.com/en/fut...tual/leverage-margin

125x leverage on a asset that moves 3-5 percent day.

Imagined the poor souls leveraged and then trading is halted not of the asset but the account.

The intermediation in crypto is smoke and mirrors.

I am betting we will never see crypto in African hunting.

Mike

quote:

Originally posted by jdollar:
I’ll be happy just to be around in 2027, pushing 80 years old…

My guess is, when you’re 80, you’ll be tottering along behind Karl Stumpf for elephants when you’re not running offshore for snappers or going diving in Jamaica. You seem to have figured out how to truly live at this age.

Thanks Dan!

quote:

Originally posted by Beretta682E:
https://coinmarketcap.com/currencies/celsius/

Celsius token.


Mike

May have to start using Fahrenheit.

quote:

Originally posted by AilsaWheels:

quote:

Originally posted by Beretta682E:
https://coinmarketcap.com/currencies/celsius/

Celsius token.


Mike

May have to start using Fahrenheit.

quote:

Originally posted by larryshores:
https://gizmodo.com/bill-gates...bored-ape-1849064001

Personally I don't think much of people like Bill Gates that steal an idea from a partner and run with it. His ill fated insecticide laden mosquito nets really helped Africa prevent malaria while being used as fish nets to denude streams of life.

Gates talks about saving the planet all the while trying to short the stock of the largest electric car manufacturer in the world because he's jealous the owner is richer and infinitely smarter than he is.

Interesting the Epstein deal concerning Gates got buried as well.

That said, I agree with him about NFT's. Don't have any, don't plan on any but then again I don't buy penny stocks either.

Cheers
Jim